Common use of Further Encumbrance of Receivables and Other Conveyed Property Clause in Contracts

Further Encumbrance of Receivables and Other Conveyed Property. (a) Immediately upon the conveyance to Purchaser by Seller of the Related Receivables and Other Conveyed Property pursuant to Section 2.1 and the related Assignment, all right, title and interest of Seller in and to such Related Receivables and Other Conveyed Property shall terminate, and all such right, title and interest shall vest in Purchaser. (b) Immediately upon the vesting of any Related Receivables and the related Other Conveyed Property in Purchaser, Purchaser shall have the sole right to pledge or otherwise encumber such Related Receivables and the related Other Conveyed Property. Pursuant to the Credit Agreement, Purchaser has granted a security interest in the Related Receivables and the Other Conveyed Property to secure the repayment of the Revolving Loans and the other Obligations.

Further Encumbrance of Receivables and Other Conveyed Property. (a) Immediately upon the conveyance to the Purchaser by Seller of the Related Receivables and any item of the related Other Conveyed Property pursuant to Section 2.1 and the related AssignmentTransfer Instrument, all right, title and interest of Seller in and to such Related Receivables and Other Conveyed Property shall terminate, and all such right, title and interest shall vest in the Purchaser. (b) Immediately upon the vesting of any Related Receivables and the related Other Conveyed Property in the Purchaser, the Purchaser shall have the sole right to pledge or otherwise encumber such Related Receivables and the related Other Conveyed Property. Pursuant to the Credit Loan Agreement, the Purchaser has granted shall grant a security interest in the Related Receivables and the Other Conveyed Property Collateral to secure the repayment of the Revolving Loans Loan and the other Secured Obligations.

Further Encumbrance of Receivables and Other Conveyed Property. (a) Immediately upon the conveyance to the Purchaser by the Seller of the Related Receivables and any item of the related Other Conveyed Property pursuant to Section SECTION 2.1 and the related Assignment, all right, title and interest of the Seller in and to such Related Receivables and Other Conveyed Property shall terminate, and all such right, title and interest shall vest in the Purchaser. (b) Immediately upon the vesting of any Related Receivables and the related Other Conveyed Property in the Purchaser, the Purchaser shall have the sole right to pledge or otherwise encumber such Related Receivables and the related Other Conveyed Property. Pursuant to the Credit AgreementIndenture, the Purchaser has granted shall grant a security interest in the Related Receivables and Collateral to the Other Conveyed Property Trustee for the benefit of the Noteholder to secure the repayment of the Revolving Loans and the other ObligationsNote.