Common use of Rights of the Assignee Clause in Contracts

Rights of the Assignee. Upon such acceptance and recording by the Administrative Agent, as of the Effective Date, (i) the Assignee shall be a party to the Receivables Transfer Agreement and, to the extent provided in this Assignment and Acceptance, have the rights and obligations of a Committed Purchaser thereunder, hereunder and under the other Transaction Documents and (ii) the Assignor shall, to the extent provided in this Assignment and Acceptance, relinquish its rights and be released from its obligations under the Receivables Transfer Agreement.

Rights of the Assignee. Upon such acceptance and recording by the Administrative Agent, as of the Effective Date, (i) the Assignee shall be a party to the Receivables Transfer Credit Agreement and, to the extent provided in this Assignment and AcceptanceAgreement, have the rights and obligations of a Committed Purchaser thereunder, Lender thereunder and hereunder and under the other Transaction Documents and (ii) the Assignor shall, to the extent provided in this Assignment and AcceptanceAgreement, relinquish its rights and be released from its obligations under the Receivables Transfer Credit Agreement.