Common use of Acceptance by SUBI Trustee Clause in Contracts

Acceptance by SUBI Trustee. The SUBI Trustee shall have only the rights, powers and duties as set forth herein and in the Origination Trust Agreement with respect to the Transaction SUBI. In accordance with Section 3.1(d) of the Origination Trust Agreement, the SUBI Trustee hereby accepts its appointment as SUBI Trustee with respect to the Transaction SUBI hereunder and agrees to act as a trustee of the Origination Trust for the benefit of the holder or holders of each Transaction SUBI Certificate in accordance with the terms of this Transaction SUBI Supplement and the Origination Trust Agreement. Except to execute and deliver the Transaction Documents to which it is a party and to exercise and carry out or cause to be exercised and carried out the rights, duties and obligations of the SUBI Trustee hereunder and thereunder and except as otherwise authorized by the holder of the Transaction SUBI Certificate, the SUBI Trustee shall have no power, right, duty or authority to manage, control, possess, sell, lease, dispose of or in any other manner deal in or with the Transaction SUBI Certificate, the Transaction SUBI Portfolio or any Transaction SUBI Asset or any part thereof or interest therein at any time conveyed to or vested in or registered or otherwise standing in the name of the SUBI Trustee or the Origination Trust.

Appears in 20 contracts

Samples: Transaction Subi Supplement to Origination Trust Agreement, Transaction Subi Supplement (Vw Credit Leasing LTD), Transaction Subi Supplement (Volkswagen Auto Lease Trust 2015-A)

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Acceptance by SUBI Trustee. The SUBI Trustee shall have only the rights, powers and duties as set forth herein and in the Origination Trust Agreement with respect to the Transaction SUBI. In accordance with Section 3.1(d) of the Origination Trust Agreement, the SUBI Trustee hereby accepts its appointment as SUBI Trustee with respect to the Transaction SUBI hereunder and agrees to act as a trustee of the Origination Trust for the benefit of the holder or holders of each the Transaction SUBI Certificate in accordance with the terms of this Transaction SUBI Supplement and the Origination Trust Agreement. Except to execute and deliver the Transaction Documents to which it is a party and to exercise and carry out or cause to be exercised and carried out the rights, duties and obligations of the SUBI Trustee hereunder and thereunder and except as otherwise authorized by the holder of the Transaction SUBI Certificate, the SUBI Trustee shall have no power, right, duty or authority to manage, control, possess, sell, lease, dispose of or in any other manner deal in or with the Transaction SUBI Certificate, the Transaction SUBI Portfolio or any Transaction SUBI Asset or any part thereof or interest therein at any time conveyed to or vested in or registered or otherwise standing in the name of the SUBI Trustee or the Origination Trust.

Appears in 11 contracts

Samples: Transaction Subi Supplement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Transaction Subi Supplement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Transaction Subi Supplement to Origination Trust Agreement (Vw Credit Leasing LTD)

Acceptance by SUBI Trustee. The SUBI Trustee shall have only the rights, powers and duties as set forth herein and in the Origination Trust Agreement with respect to the Transaction SUBISeries 2014-1 SUBI . In accordance with Section 3.1(d) of the Origination Trust Agreement, the SUBI Trustee hereby accepts its appointment as SUBI Trustee with respect to the Transaction Series 2014-1 SUBI hereunder and agrees to act as a trustee of the Origination Trust for the benefit of the holder or holders of each Transaction Series 2014-1 SUBI Certificate in accordance with the terms of this Transaction Series 2014-1 SUBI Supplement and the Origination Trust Agreement. Except to execute and deliver the Transaction Documents to which it is a party and to exercise execute and carry out or cause to be exercised executed and carried out the rights, duties and obligations of the SUBI Trustee hereunder and thereunder and except as otherwise authorized by the holder of the Transaction Series 2014-1 SUBI Certificate, the SUBI Trustee shall have no power, right, duty or authority to manage, control, possess, sell, lease, dispose of or in any other manner deal in or with the Transaction Series 2014-1 SUBI Certificate, the Transaction Series 2014-1 SUBI Portfolio or any Transaction Series 2014-1 SUBI Asset or any part thereof or interest therein at any time anytime conveyed to or vested in or registered or otherwise standing in the name of the SUBI Trustee or the Origination Trust. Notwithstanding anything in this Series 2014-1 SUBI Supplement to the contrary, the SUBI Trustee shall not be authorized and shall have no power to “vary the investment” of the holder of the Series 2014-1 SUBI Certificate within the meaning of Treasury Regulation Section 301.7701-4(c)(i).

Appears in 2 contracts

Samples: Trust Agreement (GE Equipment Transportation LLC, Series 2014-1), Trust Agreement (GE Equipment Transportation LLC, Series 2014-1)

Acceptance by SUBI Trustee. The SUBI Trustee shall have only the rights, powers and duties as set forth herein and in the Origination Trust Agreement with respect to the Transaction SUBI. In accordance with Section 3.1(d) of the Origination Trust Agreement, the SUBI Trustee hereby accepts its appointment as SUBI Trustee with respect to the Transaction SUBI hereunder and agrees to act as a trustee of the Origination Trust for the benefit of the holder or holders of each Transaction SUBI Certificate in accordance with the terms of this Transaction SUBI Supplement and the Origination Trust Agreement. Except to execute and deliver the Transaction Documents to which it is a party and to exercise and carry out or cause to be exercised and carried out the rights, duties and obligations of the SUBI Trustee hereunder and thereunder and except as otherwise authorized by the holder of the Transaction SUBI Certificate, the SUBI Trustee shall have no power, right, duty or authority to manage, control, possess, sell, lease, dispose of or in any other manner deal in or with the Transaction SUBI Certificate, the Transaction SUBI Portfolio or any Transaction SUBI Asset or any part thereof or interest therein at any time conveyed to or vested in or registered or otherwise standing in the name of the SUBI Trustee or the Origination Trust.. 5 Transaction SUBI Supplement 2013-A

Appears in 2 contracts

Samples: Transaction Subi Supplement (Volkswagen Auto Lease Trust 2013-A), Transaction Subi Supplement (Volkswagen Auto Lease Trust 2013-A)

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Acceptance by SUBI Trustee. The SUBI Trustee shall have only the rights, powers and duties as set forth herein and in the Origination Trust Agreement with respect to the Transaction SUBISeries 2015-1 SUBI . In accordance with Section 3.1(d) of the Origination Trust Agreement, the SUBI Trustee hereby accepts its appointment as SUBI Trustee with respect to the Transaction Series 2015-1 SUBI hereunder and agrees to act as a trustee of the Origination Trust for the benefit of the holder or holders of each Transaction Series 2015-1 SUBI Certificate in accordance with the terms of this Transaction Series 2015-1 SUBI Supplement and the Origination Trust Agreement. Except to execute and deliver the Transaction Documents to which it is a party and to exercise execute and carry out or cause to be exercised executed and carried out the rights, duties and obligations of the SUBI Trustee hereunder and thereunder and except as otherwise authorized by the holder of the Transaction Series 2015-1 SUBI Certificate, the SUBI Trustee shall have no power, right, duty or authority to manage, control, possess, sell, lease, dispose of or in any other manner deal in or with the Transaction Series 2015-1 SUBI Certificate, the Transaction Series 2015-1 SUBI Portfolio or any Transaction Series 2015-1 SUBI Asset or any part thereof or interest therein at any time anytime conveyed to or vested in or registered or otherwise standing in the name of the SUBI Trustee or the Origination Trust. Notwithstanding anything in this Series 2015-1 SUBI Supplement to the contrary, the SUBI Trustee shall not be authorized and shall have no power to “vary the investment” of the holder of the Series 2015-1 SUBI Certificate within the meaning of Treasury Regulation Section 301.7701-4(c)(i).

Appears in 2 contracts

Samples: Subi Supplement to Trust Agreement (GE TF Trust), Subi Supplement to Trust Agreement (GE TF Trust)

Acceptance by SUBI Trustee. The SUBI Trustee shall have only the rights, powers and duties as set forth herein and in the Origination Trust Agreement with respect to the Transaction Purchased SUBI. In accordance with Section 3.1(d) of the Origination Trust Agreement, the SUBI Trustee hereby accepts its appointment as SUBI Trustee with respect to the Transaction Purchased SUBI hereunder and agrees to act as a trustee of the Origination Trust for the benefit of the holder or holders of each Transaction Purchased SUBI Certificate in accordance with the terms of this Transaction Purchased SUBI Supplement and the Origination Trust Agreement. Except to execute and deliver the Transaction Documents to which it is a party and to exercise execute and carry out or cause to be exercised executed and carried out the rights, duties and obligations of the SUBI Trustee hereunder and thereunder and except as otherwise authorized by the holder of the Transaction Purchased SUBI Certificate, the SUBI Trustee shall have no power, right, duty or authority to manage, control, possess, sell, lease, dispose of or in any other manner deal in or with the Transaction Purchased SUBI Certificate, the Transaction Purchased SUBI Portfolio or any Transaction Purchased SUBI Asset or any part thereof or interest therein at any time anytime conveyed to or vested in or registered or otherwise standing in the name of the SUBI Trustee or the Origination Trust. Notwithstanding anything in this Purchased SUBI Supplement to the contrary, the SUBI Trustee shall not be authorized and shall have no power to “vary the investment” of the holder of the Purchased SUBI Certificate within the meaning of Treasury Regulation Section 301.7701-4(c)(i).

Appears in 1 contract

Samples: Subi Supplement to Trust Agreement (Cef Equipment Holding LLC)

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