Servicer May Own Certificates. The Servicer, and any Affiliate of the 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 Servicer or an Affiliate thereof, except as otherwise provided in the definition of "Certificateholder," "Class A Certificateholder" and "Class B Certificateholder" in Section 1.1. Certificates so owned by or pledged to the 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.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (First Security Bank Na), Pooling and Servicing Agreement (First Security Auto Grantor Trust 1997-A), Pooling and Servicing Agreement (First Security Bank Na)
Servicer May Own Certificates. The Servicer, and any Affiliate of the 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 Servicer or an Affiliate thereof, except as otherwise provided in the definition of "Certificateholder," ", "Class A Certificateholder" and "Class B Certificateholder" in Section 1.1. Except as set forth herein, Certificates so owned by or pledged to the 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.. 89 91 ARTICLE IX
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Daimler Benz Vehicle Receivables Corp)
Servicer May Own Certificates. The Servicer, and any Affiliate of the Servicer, may, in its individual or any other capacity, become the owner or pledgee of Certificates Securities with the same rights as it would have if it were not the Servicer or an Affiliate thereof, except as otherwise provided in the definition of "CertificateholderSecurityholder," "Class A CertificateholderNoteholder" and "Class B Certificateholder" in Section 1.1. Certificates Securities so owned by or pledged to the 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 CertificatesSecurities.
Appears in 1 contract
Sources: Sale and Servicing Agreement (First Security Bank Na)
Servicer May Own Certificates. The Servicer, and any Affiliate of the 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 Servicer or an Affiliate thereof, except as otherwise provided in the definition of "Certificateholder," ", "Class A Certificateholder" and "Class B Certificateholder" in Section Section
1.1. Except as set forth herein, Certificates so owned by or pledged to the 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.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Daimler Benz Vehicle Receivables Corp)
Servicer May Own Certificates. The Servicer, and any Affiliate of the 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 Servicer or an Affiliate thereof, except as otherwise provided in the definition of "Certificateholder," "Class A Certificateholder" and "Class B Certificateholder" in Section 1.1. Certificates so owned by or pledged to the 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.. ARTICLE
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Security Bank Na)