Common use of Administrator May Own Certificates Clause in Contracts

Administrator May Own Certificates. The Administrator in its individual or any other capacity may become the owner or pledgee of Certificates and may transact business with the Depositor, the Servicer, the Trustee and their Affiliates with the same rights as it would have if it were not Administrator.

Administrator May Own Certificates. The Administrator in its individual or any other capacity may become the owner or pledgee of Certificates and may transact business with the Depositor, the Servicer, the Trustee [, the Certificate Insurer] and their Affiliates with the same rights as it would have if it were not Administrator.