Transferor May Own Notes. The Transferor and any Affiliate (other than MCC) thereof may in its individual or any other capacity become the owner or pledgee of Class A Notes with the same rights as it would have if it were not the Transferor or an Affiliate thereof, except as expressly provided herein (including, without limitation, the definition of "Outstanding" contained in the Indenture) or in any Basic Document. The Transferor agrees that it shall not transfer any interest in Notes (including the Class B Notes) or any rights hereunder without delivering to the Owner Trustee an Opinion of Counsel that such transfer will not cause the Trust to be taxable as a corporation for federal income tax purposes.
Appears in 2 contracts
Sources: Transfer and Servicing Agreement (Metlife Capital Equipment Loan Trusts), Transfer and Servicing Agreement (Metlife Capital Equipment Loan Trusts)