Common use of Initial Acquisition Clause in Contracts

Initial Acquisition. In return for the Acquisition Consideration with respect to the Assets transferred on the Closing Date and other rights created by this Agreement, each of Trendwest, TWH II and TWH III hereby transfers, assigns, sells and grants to the Issuer, without recourse except as provided in Section 3.03 of this Agreement, on the Closing Date any and all of such Seller's respective right, title and interest in and to all of such Assets relating to the Contracts set forth on Schedule I to the Asset Assignment. Each of the Sellers hereby acknowledges that its transfer of such Assets to the Issuer is absolute and irrevocable, without reservation or retention of any interest whatsoever by such Seller (except as set forth in Section 3.03 hereof).

Initial Acquisition. In return for the Acquisition Consideration with respect to the Assets transferred on the Closing Date and other rights created by this Agreement, each of Trendwest, TWH II ▇▇ ▇▇ and TWH III TW Holdings hereby transfers, assigns, sells and grants to the Issuer, without recourse except as provided in Section 3.03 of this Agreement, on the Closing Date Date, any and all of such Seller's respective right, title and interest in and to all of such Assets relating to the Contracts set forth on Schedule I to the Asset Assignment. Each of the Sellers hereby acknowledges that its transfer of such Assets to the Issuer is absolute and irrevocable, without reservation or retention of any interest whatsoever by such Seller (except as set forth in Section 3.03 hereof)Seller.