Master Servicer May Own Certificates Sample Clauses

The "Master Servicer May Own Certificates" clause permits the master servicer to hold or acquire certificates issued under the related securitization trust. In practice, this means the entity responsible for administering the pool of assets, such as mortgages, can also be an investor in the trust by owning one or more of its certificates, which represent a share of the trust's income or principal. This clause clarifies that there is no conflict in the master servicer acting in both capacities, and it ensures transparency regarding potential overlapping interests, thereby addressing concerns about impartiality and aligning the parties' interests.
Master Servicer May Own Certificates. The Master Servicer and any agent of the Master Servicer in its individual or any other capacity may become the owner or pledgee of Certificates with the same rights it would have if it were not the Master Servicer or such agent. Any such interest of the Master Servicer or such agent in the Certificates shall not be taken into account when evaluating whether actions of the Master Servicer are consistent with its obligations in accordance with the Servicing Standard regardless of whether such actions may have the effect of benefiting the Class or Classes of Certificates owned by the Master Servicer.
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Master Servicer May Own Certificates. Each of the Master Servicer and any affiliate of the Master Servicer may in its individual or any other capacity become the owner or pledgee of Certificates with the same rights as it would have if it were not the Master Servicer or an affiliate thereof except as otherwise specifically provided herein. Certificates so owned by or pledged to the Master Servicer or such affiliate shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority, or distinction as among all of the Certificates, provided that any Certificates owned by the Master Servicer or any Affiliate thereof, during the time such Certificates are owned by them, shall be without voting rights for any purpose set forth in this Agreement. The Master Servicer shall notify the Trustee and the Certificate Insurer promptly after it or any of its affiliates becomes the owner or pledgee of a Certificate.
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Master Servicer May Own Certificates. The Master Servicer and any agent of the Master Servicer in its individual or any other capacity may become the owner or pledgee of Certificates with the same rights it would have if it were not the Master Servicer or such agent; provided, however that if the Master Servicer is Well▇ ▇▇▇go Bank, National Association, then the Master Servicer may not purchase any Certificate for a price greater than such Certificates' fair market value. Any such interest of the Master Servicer or such agent in the Certificates shall not be taken into account when evaluating whether actions of the Master Servicer are consistent with its obligations in accordance with the Servicing Standard regardless of whether such actions may have the effect of benefiting the Class or Classes of Certificates owned by the Master Servicer.
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Related to Master Servicer May Own Certificates

  • Securities Administrator May Own Certificates The Securities Administrator in its individual or any other capacity may become the owner or pledgee of Certificates and may transact business with the parties hereto and their Affiliates with the same rights as it would have if it were not the Securities Administrator.

  • Trust Administrator May Own Certificates The Trust Administrator in its individual or any other capacity may become the owner or pledgee of Certificates with the same rights as it would have if it were not the Trust Administrator.

  • Custodian May Own Certificates The Custodian in its individual or any other capacity may become the owner or pledgee of Certificates with the same rights it would have if it were not Custodian.

  • Trustee and Certificate Administrator May Own Certificates The Trustee, the Certificate Administrator and any agent of the Trustee or the Certificate Administrator, each, in its individual capacity or any other capacity, may become the owner or pledgee of Certificates, and may deal with the Depositor and the Master Servicer in banking transactions, with the same rights it would have if it were not Trustee, the Certificate Administrator or such agent, as the case may be.

  • Servicer May Own Notes The Servicer, and any Affiliate of the Servicer, may, in its individual or any other capacity, become the owner or pledgee of Notes with the same rights as it would have if it were not the Servicer or an Affiliate thereof, except as otherwise expressly provided herein or in the other Transaction Documents. Except as set forth herein or in the other Transaction Documents, Notes so owned by or pledged to the Servicer or such Affiliate will have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority or distinction as among all of the Notes.