Common use of Registration of Transfer and Exchange of Transferor Interest Clause in Contracts

Registration of Transfer and Exchange of Transferor Interest. The Owner Trustee hereby appoints The Bank of New York as Registrar under this Agreement. The Registrar shall keep or cause to be kept, at the office or agency maintained pursuant to Section 3.8, a Transferor Interest Register. Subject to such reasonable regulations as the Registrar may prescribe, the Transferor Interest Register shall provide for the registration of the Transferor Interest and of transfer and exchange of the Transferor Interest as herein provided. The Registrar, subject to Section 3.13, on behalf of the Trust shall note on the Transferor Interest Register any transfer of the Transferor Interest.