Common use of Certificate Paying Agent Clause in Contracts

Certificate Paying Agent. The Certificate Paying Agent shall make distributions to Certificateholders from the Payment Account pursuant to Section 3.05 of the Indenture. The Issuer may revoke such power and remove the Certificate Paying Agent if the Administrator determines in its sole discretion that the Certificate Paying Agent shall have failed to perform its obligations under this Trust Agreement or as set forth in Section 3.03 of the Indenture in any material respect; provided that at the time of such removal, the Paying Agent shall also be removed by the Issuer under the Indenture. The Bank of New York shall be permitted to resign as Certificate Paying Agent upon 30 days written notice to the Owner Trustee; provided that The Bank of New York is also resigning as Paying Agent under the Indenture at such time. In the event that The Bank of New York shall no longer be the Certificate Paying Agent and Paying Agent under the Indenture, the Administrator shall appoint a successor to act as Certificate Paying Agent (which shall be a bank or trust company) and which shall also be the successor Paying Agent under the Indenture. The Administrator shall cause such successor Certificate Paying Agent or any additional Certificate Paying Agent appointed by the Administrator to execute and deliver to the Owner Trustee an instrument to the effect set forth in Section 3.03 of the Indenture as it relates to the Certificate Paying Agent. The Certificate Paying Agent shall return all unclaimed funds to the Issuer and upon removal of a Certificate Paying Agent such Certificate Paying Agent shall also return all funds in its possession to the Issuer. The provisions of Sections 7.01, 7.03, 7.04 and 8.01 shall apply to the Certificate Paying Agent to the extent applicable. Any reference in this Agreement to the Certificate Paying Agent shall include any co-paying agent unless the context requires otherwise.

Certificate Paying Agent. The Certificate Paying Agent shall make distributions to Certificateholders from the Payment Account pursuant to Section 3.05 of the Indenture. The Issuer may revoke such power and remove the Certificate Paying Agent if the Administrator determines in its sole discretion discre- tion that the Certificate Paying Agent shall have failed to perform its obligations under this Trust Agreement or as set forth in Section 3.03 of the Indenture in any material respect; provided that at the time of such removal, the Paying Agent shall also be removed by the Issuer under the Indenture. The Bank of New York shall be permitted to resign as Certificate Paying Agent upon 30 days written notice to the Owner Trustee; provided that The Bank of New York is also resigning as Paying Agent under the Indenture at such time. In the event that The Bank of New York shall no longer be the Certificate Paying Agent and Paying Agent under the Indenture, the Administrator shall appoint a successor to act as Certificate Paying Agent (which shall be a bank or trust company) and which shall also be the successor Paying Agent under the Indenture. The Administrator shall cause such successor succes- sor Certificate Paying Agent or any additional Certificate Paying Agent appointed by the Administrator to execute and deliver to the Owner Trustee an instrument to the effect set forth in Section 3.03 of the Indenture as it relates to the Certificate Paying Agent. The Certificate Paying Agent shall return all unclaimed funds to the Issuer and upon removal of a Certificate Paying Agent such Certificate Paying Agent shall also return all funds in its possession to the Issuer. The provisions of Sections 7.01, 7.03, 7.04 and 8.01 shall apply to the Certificate Paying Agent to the extent applicable. Any reference in this Agreement to the Certificate Paying Agent shall include any co-co- paying agent unless the context requires otherwise.

Certificate Paying Agent. The Certificate Paying Agent shall make distributions to Certificateholders from the Payment Account pursuant to Section 3.05 of the Indenture. The Issuer may revoke such power and remove the Certificate Paying Agent if the Administrator determines in its sole discretion discre- tion that the Certificate Paying Agent shall have failed to perform its obligations under this Trust Agreement or as set forth in Section 3.03 of the Indenture in any material respect; provided that at the time of such removal, the Paying Agent shall also be removed by the Issuer under the Indenture. The Bank of New York shall be permitted to resign as Certificate Paying Agent upon 30 days written notice to the Owner Trustee; provided that The Bank of New York is also resigning as Paying Agent under the Indenture at such time. In the event that The Bank of New York shall no longer be the Certificate Paying Agent and Paying Agent under the Indenture, the Administrator shall appoint a successor to act as Certificate Paying Agent (which shall be a bank or trust company) and which shall also be the successor Paying Agent under the Indenture. The Administrator shall cause such successor Certificate Paying Agent or any additional Certificate Paying Agent appointed by the Administrator to execute and deliver to the Owner Trustee an instrument to the effect set forth in Section 3.03 of the Indenture as it relates to the Certificate Paying Agent. The Certificate Paying Agent shall return all unclaimed funds to the Issuer and upon removal of a Certificate Paying Agent such Certificate Paying Agent shall also return all funds in its possession to the Issuer. The provisions of Sections 7.01, 7.03, 7.04 and 8.01 shall apply to the Certificate Paying Agent to the extent applicable. Any reference in this Agreement to the Certificate Paying Agent shall include any co-paying agent unless the context requires otherwise.