Common use of TRANSFER OF COLLECTIONS Clause in Contracts

TRANSFER OF COLLECTIONS. The parties hereto acknowledge that the Origination Trustee, on behalf of the Origination Trust, has made a complete transfer to the 1999-A Owner Trustee of the Collections in respect of the 1999-A SUBI Assets contained in all accounts maintained by the Origination Trustee (excluding proceeds of the Residual Value Insurance Policy or any other residual value insurance policies, which are solely the property of the Origination Trust) and, except as provided in this 1999-A Securitization Trust Agreement, the 1999-A SUBI Supplement and the 1999-A Servicing Supplement, neither the Origination Trustee nor the Servicer has any right to direct such funds to a third party or to receive such funds (other than to receive such funds pursuant to an investment thereof in Eligible Investments on which Origination Trustee is the obligor).

TRANSFER OF COLLECTIONS. The parties hereto acknowledge that the Origination Trustee, on behalf of the Origination Trust, has made a complete transfer to the 1999-A Owner Trustee of the Collections in respect of the 1999-A SUBI Assets contained in all accounts maintained by the Origination Trustee (excluding proceeds of the 1999-A Residual Value Insurance Policy Proceeds or any proceeds from any other residual value insurance policies, which are solely the property of the Origination Trust) and, except as provided in this 1999-A Securitization Trust Agreement, the 1999-A SUBI Supplement and the 1999-A Servicing Supplement, neither the Origination Trustee nor the Servicer has any right to direct such funds to a third party or to receive such funds (other than to receive such funds pursuant to an investment thereof in Eligible Investments on which Origination Trustee is the obligor).