Common use of Appointment of a Sub-Administrator Clause in Contracts

Appointment of a Sub-Administrator. The Administrator may appoint a Sub-Administrator that meets the qualifications of the definition of “Sub-Administrator” hereunder. Notwithstanding the appointment of a Sub-Administrator, the Administrator shall remain responsible for the performance of its duties and obligations pursuant to this Indenture and any other Transaction Document. In addition, any Sub-Administrator shall be responsible for the performance of any duties so delegated to the same extent if such Sub-Administrator were the named Administrator under this Indenture and to meet any standards and fulfill any new requirements applicable to the Administrator under this Indenture and any other Transaction Documents.