Common use of Additional Depositors Clause in Contracts

Additional Depositors. The Depositor may designate Affiliates --------------------- of the Depositor to be included as Depositors ("Additional Depositors") under this Agreement by an amendment hereto pursuant to Section 13.01(a) and, in connection with such designation, the Bank shall surrender the Depositor's Certificate to the Trustee in exchange for a newly issued Depositor's Certificate modified to reflect such Additional Depositor's interest in the Depositor's Interest; provided, however, that prior -------- ------- to any such designation and exchange the conditions set forth in Section 6.03(c) shall have been satisfied with respect thereto.]

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Asset Backed Securities Corp)

Additional Depositors. The Depositor may designate Affiliates --------------------- of the Depositor to be included as Depositors ("Additional Depositors") under this Agreement by an amendment hereto pursuant to Section 13.01(a) and, in connection with such designation, the Bank Seller shall surrender the Depositor's Certificate to the Trustee in exchange for a newly issued Depositor's Certificate modified to reflect such Additional Depositor's interest in the Depositor's Interest; provided, however, that prior -------- ------- to any such designation and exchange the conditions set forth in Section 6.03(c) shall have been satisfied with respect thereto.]

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Asset Backed Securities Corp)

Additional Depositors. The Depositor may designate Affiliates --------------------- of the Depositor to be included as Depositors ("Additional Depositors") under this Agreement by an amendment hereto pursuant to Section 13.01(a) and, in connection with such designation, the Bank shall surrender the Depositor's Certificate to the Trustee in exchange for a newly issued Depositor's Certificate modified to reflect such Additional Depositor's interest in the Depositor's Interest; providedPROVIDED, howeverHOWEVER, that prior -------- ------- to any such designation and exchange the conditions set forth in Section 6.03(c) shall have been satisfied with respect thereto.]

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Ace Securities Corp)