Trustee and Certificate Administrator May Own Certificates Clause Samples
This clause permits the trustee and certificate administrator involved in a transaction to hold or own certificates issued under the agreement. In practice, this means that these parties are not prohibited from acquiring, holding, or disposing of certificates for their own account, whether as part of their professional activities or for investment purposes. The core function of this clause is to clarify that such ownership does not constitute a conflict of interest or breach of duty, thereby ensuring transparency and avoiding potential disputes regarding the roles and interests of these parties.
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.