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Common use of Agreement of the Issuer Clause in Contracts

Agreement of the Issuer. The Issuer hereby acknowledges and agrees that, to the extent that the Issuer is deemed to have any interest in any assets of the Depositor that constitute the assets of the trust for any other series of securities with respect to which the Depositor acts as depositor: (a) the interest of the Issuer in such assets is subordinate to claims or rights of the holders of such other series of securities to such assets; and (b) this Agreement constitutes a subordination agreement for purposes of Section 510(a) of the Bankruptcy Code.

Appears in 14 contracts

Samples: Transfer and Servicing Agreement (TBALT Corp.), Transfer and Servicing Agreement (Homebanc Corp), Transfer and Servicing Agreement (Homebanc Corp)