Common use of Addition of Designated Servicing Agreements Clause in Contracts

Addition of Designated Servicing Agreements. (A) The Receivables Seller or the Servicer may at any time designate any Facility Eligible Servicing Agreement as a Designated Servicing Agreement under the Receivables Sale Agreement, whereupon such agreement shall become a “Designated Servicing Agreement” for purposes of this Indenture if (1) the related Servicing Agreement is a Facility Eligible Servicing Agreement with respect to at least one Series of Notes, as certified by the Administrator, (2) the Administrative Agent (in its sole discretion) has approved such Servicing Agreement for addition and (3) written notice of such addition has been provided to Note Rating Agencies for Outstanding Notes. Prior to the addition of any Designated Servicing Agreement as provided in this Section 2.1(c), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s Security Interest in any Receivables related to any additional Designated Servicing Agreements is perfected and of first priority. (B) If any Servicing Agreements are added as Designated Servicing Agreements, the Administrator shall update the Designated Servicing Agreement Schedule and furnish it to the Indenture Trustee, and the most recently furnished schedule shall be maintained by the Indenture Trustee as the definitive Designated Servicing Agreement Schedule.

Addition of Designated Servicing Agreements. (A) The Receivables Seller or the Servicer may at any time designate any Facility Eligible Servicing Agreement as a Designated Servicing Agreement under the Receivables Sale Agreement, whereupon such agreement shall become a “Designated Servicing Agreement” for purposes of this Indenture if (1) the related Servicing Agreement is a Facility Eligible Servicing Agreement with respect to at least one Series of Notes, as certified by the Administrator, (2) the Administrative Agent (in its sole discretion) has approved such Servicing Agreement for addition and (3) written notice of such addition has been provided to Note Rating Agencies for the Outstanding Notes. For the avoidance of doubt, the Receivables Seller or the Seller may not designate a Facility Eligible Servicing Agreement as a “Designated Servicing Agreement” without the prior written approval of the Administrative Agent in its sole discretion. Prior to the addition of any Designated Servicing Agreement as provided in this Section 2.1(c), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s Security Interest in any Receivables related to any additional Designated Servicing Agreements is perfected and of first priority. (B) If any Servicing Agreements are added as Designated Servicing Agreements, the Administrator shall update the Designated Servicing Agreement Schedule and furnish it to the Indenture Trustee, and the most recently furnished schedule shall be maintained by the Indenture Trustee as the definitive Designated Servicing Agreement Schedule.

Addition of Designated Servicing Agreements. (A) The Receivables Seller or the Servicer may at any time designate any Facility Eligible Servicing Agreement as a Designated Servicing Agreement under the Receivables Sale Agreement, whereupon such agreement shall become a “Designated Servicing Agreement” for purposes of this Indenture if (1) the related Servicing Agreement is a Facility Eligible Servicing Agreement with respect to at least one Series of Notes, as certified by the Administrator, (2) the Administrative Agent (in its sole discretion) has approved such Servicing Agreement for addition and (3) written notice of such addition has been provided to Note Rating Agencies for Outstanding Notes. Prior to the addition of any Designated Servicing Agreement as provided in this Section 2.1(c), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s Security Interest in any Receivables related to any additional Designated Servicing Agreements is perfected and of first priority. (B) If any Servicing Agreements are added as Designated Servicing Agreements, the Administrator shall update the Designated Servicing Agreement Schedule and furnish it to the Indenture Trustee, and the most recently furnished schedule shall be maintained by the Indenture Trustee as the definitive Designated Servicing Agreement Schedule.

Addition of Designated Servicing Agreements. (A) The Receivables Seller or the Servicer may at any time designate any Servicing Agreement relating to a Facility Eligible Servicing Agreement Securitization Trust as a Designated Servicing Agreement under the Receivables Sale Agreement, , whereupon such agreement Servicing Agreement shall become a “Designated Servicing Agreement” for purposes of this Indenture if (1) the related Administrator has certified in writing to the Indenture Trustee that such Servicing Agreement is relates to a Facility Eligible Servicing Agreement with respect to at least one Series of Notes, as certified by the AdministratorSecuritization Trust, (2) the Administrative Agent (in its sole discretion) has approved such Servicing Agreement for addition and (3) written notice of such addition has been provided to the Note Rating Agencies for Outstanding Notes. Prior to the addition of any Designated Servicing Agreement as provided in this Section 2.1(c), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s Security Interest in any Receivables related to any additional Designated Servicing Agreements is perfected and of first priorityperfected. (B) If any Servicing Agreements are added as Designated Servicing Agreements, the Administrator shall update the Designated Servicing Agreement Schedule and furnish it to the Indenture Trustee, and the most recently furnished schedule shall be maintained by the Indenture Trustee as the definitive Designated Servicing Agreement Schedule.

Addition of Designated Servicing Agreements. (A) The Receivables Seller or the Servicer may at any time designate any Facility Eligible Servicing Agreement as a Designated Servicing Agreement under the Receivables Sale Agreement, whereupon such agreement shall become a “Designated Servicing Agreement” for purposes of this Indenture if (1) the related Servicing Agreement is a Facility Eligible Servicing Agreement with respect to at least one Series of Notes, as certified by the Administrator, (2) the Administrative Agent (in its sole discretion) has approved such Servicing Agreement for addition and (3) written notice of such addition has been provided to Note Rating Agencies for Outstanding Notes. For the avoidance of doubt, the Receivables Seller or the Seller may not designate a Facility Eligible Servicing Agreement as a “Designated Servicing Agreement” without the prior written approval of the Administrative Agent in its sole discretion. Prior to the addition of any Designated Servicing Agreement as provided in this Section 2.1(c), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s Security Interest in any Receivables related to any additional Designated Servicing Agreements is perfected and of first priority. (B) If any Servicing Agreements are added as Designated Servicing Agreements, the Administrator shall update the Designated Servicing Agreement Schedule and furnish it to the Indenture Trustee, and the most recently furnished schedule shall be maintained by the Indenture Trustee as the definitive Designated Servicing Agreement Schedule.