Common use of Reassignment of Purchased Receivables Clause in Contracts

Reassignment of Purchased Receivables. Upon deposit in the Collection Account of the Purchase Amount of any Receivable repurchased by Arcadia under SECTION 5.1, ARFC IV and the Collateral Agent on behalf of the Secured Parties shall take such steps as may be reasonably requested by Arcadia in order to assign to Arcadia all of ARFC IV's right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to ARFC IV directly relating thereto, and to release the Collateral Agent's security interest therein, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances created by or arising as a result of actions of ARFC IV. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that Arcadia may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, ARFC IV shall, at the expense of Arcadia, take such steps as Arcadia deems reasonably necessary to enforce the Receivable, including bringing suit in ARFC IV's name.

Reassignment of Purchased Receivables. Upon deposit in ------------------------------------- the Collection Account of the Purchase Amount of any Receivable repurchased by Arcadia AFS under SECTION 5.1, ARFC IV and the Collateral Agent on behalf Section 5.1 hereof or Section 2.7 of the Secured Parties Servicing and Custodian Agreement, Purchaser (at AFS's expense) shall take such steps as may be reasonably requested by Arcadia AFS in order to assign to Arcadia AFS all of ARFC IVPurchaser's and the Collateral Agent's right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to ARFC IV Purchaser and the Collateral Agent directly relating thereto, and to release the Collateral Agent's security interest therein, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances Liens created by or arising as a result of actions of ARFC IVPurchaser or the Collateral Agent. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that Arcadia AFS may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, ARFC IV Purchaser and the Collateral Agent shall, at the expense of ArcadiaAFS, take such steps as Arcadia AFS deems reasonably necessary to enforce the Receivable, including bringing suit in ARFC IVPurchaser's or in the Collateral Agent's name.

Reassignment of Purchased Receivables. Upon deposit in the Collection Account of the Purchase Amount of any Receivable repurchased by Arcadia AFS under SECTION 5.1, ARFC IV and the Collateral Agent on behalf Section 5.1 hereof or Section 2.7 of the Secured Parties Servicing and Custodian Agreement, Purchaser (at AFS's expense) shall take such steps as may be reasonably requested by Arcadia AFS in order to assign to Arcadia AFS all of ARFC IVPurchaser's and the Collateral Agent's right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to ARFC IV Purchaser and the Collateral Agent directly relating thereto, and to release the Collateral Agent's security interest therein, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances Liens created by or arising as a result of actions of ARFC IVPurchaser or the Collateral Agent. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that Arcadia AFS may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, ARFC IV Purchaser and the Collateral Agent shall, at the expense of ArcadiaAFS, take such steps as Arcadia AFS deems reasonably necessary to enforce the Receivable, including bringing suit in ARFC IVPurchaser's or in the Collateral Agent's name.

Reassignment of Purchased Receivables. Upon deposit in the Collection Account of the Purchase Amount of price paid to the Purchaser for any Receivable repurchased purchased by Arcadia FCC under SECTION 5.1Section 6.1, ARFC IV the lien of the Purchaser in such Receivable shall without any further action be released and the Collateral Purchaser shall (and shall request the Agent on behalf of the Secured Parties shall to) take such steps as may be reasonably requested by Arcadia FCC in order to assign to Arcadia FCC all of ARFC IVthe Purchaser's and the Agent's right, title and interest in and to such Receivable and all security and documents and all Related Security and Other Conveyed Property conveyed Conveyed to ARFC IV the Purchaser and the Agent directly relating thereto, and to release the Collateral Agent's security interest therein, without recourse, representation or warrantywarranty of any kind, except as to the absence of liens, charges or encumbrances created by or arising solely as a result of actions of ARFC IVthe Purchaser or the Agent. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that Arcadia FCC may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the such Receivable, ARFC IV the Purchaser shall, at the expense of ArcadiaFCC, take such steps as Arcadia FCC deems reasonably necessary to enforce the such Receivable, including bringing suit in ARFC IVthe Purchaser's name.

Reassignment of Purchased Receivables. Upon deposit ------------------------------------- in the Collection Account of the Purchase Amount of any Receivable repurchased by Arcadia AFS under SECTION 5.1, ARFC IV and the Collateral Agent on behalf Section 5.1 hereof or Section 2.7 of the Secured Parties Servicing and Custodian Agreement, Purchaser (at AFS's expense) shall take such steps as may be reasonably requested by Arcadia AFS in order to assign to Arcadia AFS all of ARFC IVPurchaser's and the Collateral Agent's right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to ARFC IV Purchaser and the Collateral Agent directly relating thereto, and to release the Collateral Agent's security interest therein, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances Liens created by or arising as a result of actions of ARFC IVPurchaser or the Collateral Agent. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that Arcadia AFS may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, ARFC IV Purchaser and the Collateral Agent shall, at the expense of ArcadiaAFS, take such steps as Arcadia AFS deems reasonably necessary to enforce the Receivable, including bringing suit in ARFC IVPurchaser's or in the Collateral Agent's name.

Reassignment of Purchased Receivables. Upon deposit in the ------------------------------------------ Collection Account of the Purchase Amount of any Receivable repurchased by Arcadia AFS under SECTION 5.1Section 5.1 hereof, ARFC IV and the Collateral Agent on behalf of the Secured Parties Purchaser (at AFS's expense) shall take such steps as may be reasonably requested by Arcadia AFS in order to assign to Arcadia AFS all of ARFC IVPurchaser's and the Collateral Agent's right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to ARFC IV Purchaser and the Collateral Agent directly relating thereto, and to release the Collateral Agent's security interest therein, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances Liens created by or arising as a result of actions of ARFC IVPurchaser or the Collateral Agent. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that Arcadia AFS may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, ARFC IV Purchaser and the Collateral Agent shall, at the expense of ArcadiaAFS, take such steps as Arcadia AFS deems reasonably necessary to enforce the Receivable, including bringing suit in ARFC IVPurchaser's or in the Collateral Agent's name.