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 AFS under Section 5.1 hereof or Section 2.7 of the Servicing and Custodian Agreement, Purchaser (at AFS's expense) shall take such steps as may be reasonably requested by AFS in order to assign to AFS all of Purchaser'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 Purchaser and the Collateral Agent directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of Purchaser 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 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, Purchaser and the Collateral Agent shall, at the expense of AFS, take such steps as AFS deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser'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 AFS FCC under Section 5.1 hereof or Section 2.7 6.1, the lien of the Servicing Purchaser in such Receivable shall without any further action be released and Custodian Agreement, the Purchaser shall (at AFS's expenseand shall request the Agent to) shall take such steps as may be reasonably requested by AFS FCC in order to assign to AFS FCC all of the Purchaser's and the Collateral 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 the Purchaser and the Collateral Agent directly relating thereto, without recourse, representation or warrantywarranty of any kind, except as to the absence of Liens liens, charges or encumbrances created by or arising solely as a result of actions of the Purchaser 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 AFS 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, the Purchaser and the Collateral Agent shall, at the expense of AFSFCC, take such steps as AFS FCC deems reasonably necessary to enforce the such Receivable, including bringing suit in the Purchaser's or in the Collateral Agent's name.

Reassignment of Purchased Receivables. Upon deposit in ------------------------------------- in the Collection Account of the Purchase Amount of any Receivable repurchased by AFS under Section 5.1 hereof or Section 2.7 of the Servicing and Custodian Agreement, Purchaser (at AFS's expense) shall take such steps as may be reasonably requested by AFS in order to assign to AFS all of Purchaser'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 Purchaser and the Collateral Agent directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of Purchaser 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 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, Purchaser and the Collateral Agent shall, at the expense of AFS, take such steps as AFS deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser'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 AFS under Section 5.1 hereof or Section 2.7 of the Servicing and Custodian Agreement, Purchaser (at AFS's expense) shall take such steps as may be reasonably requested by AFS in order to assign to AFS all of Purchaser'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 Purchaser and the Collateral Agent directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of Purchaser 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 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, Purchaser and the Collateral Agent shall, at the expense of AFS, take such steps as AFS deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser's or in the Collateral Agent's name.