Common use of Appointment of Co-Trustee or Separate Clause in Contracts

Appointment of Co-Trustee or Separate. Trustee(a) . (a) Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Owner Trust Estate or any Mortgaged Property may at the time be located, and for the purpose of performing certain duties and obligations of the Owner Trustee with respect to the Trust and the Certificates, the Owner Trustee shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee and acceptable to the Note Insurer to act as co-trustee, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of the Owner Trust Estate, and to vest in such Person, in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section 10.05, such powers, duties, obligations, rights and trusts as the Note Insurer and the Owner Trustee may consider necessary or desirable. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.01 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.03.

Appointment of Co-Trustee or Separate. Trustee(a) . (a) Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements requirement of any jurisdiction in which any part of the Owner Trust Estate or any Mortgaged Property Financed Vehicle may at the time be located, the Administrator and for the purpose of performing certain duties and obligations of the Owner Trustee with respect to acting jointly shall, at the Trust and expense of the CertificatesServicer, the Owner Trustee shall have the power and shall shall, at the expense of the Servicer, execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee and acceptable to the Note Insurer to act as co-trustee, jointly with the Owner Trustee, or as separate trustee or separate trustees, of all or any part of the Owner Trust Estate, and to vest in such Person (in the name of the Trust and not in such Person's name for the Trust, except to the extent otherwise required by, and in accordance with, Section 2.8), in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section 10.056.12, such powers, duties, obligations, rights and trusts as the Note Insurer Administrator and the Owner Trustee may consider necessary or desirable. If the Administrator shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Owner Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.01 6.13 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.036.10.

Appointment of Co-Trustee or Separate. Trustee(a) ). (a) Notwithstanding any other provisions of this Agreementhereof, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Owner Trust Estate Fund or any Mortgaged Property property securing the same may at the time be located, and for the purpose of performing certain duties and obligations of the Owner Trustee with respect to the Trust Servicer and the Certificates, the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee and acceptable to the Note Insurer to act as co-trusteetrustee or co-trustees, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of the Owner Trust EstateFund, and to vest in such PersonPerson or Persons, in such capacity, such title to the TrustTrust Fund, or any part thereof, and, subject to the other provisions of this Section 10.059.10 and the consent of the Servicer, such powers, duties, obligations, rights and trusts as the Note Insurer Servicer and the Owner Trustee may consider necessary or desirable. If the Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, or in case an Event of Default shall have occurred and be continuing, the Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement hereunder shall be required to meet the terms of eligibility as a successor trustee pursuant to under Section 10.01 9.06 hereunder and no notice to Holders of Certificates of the appointment of any co-trustee trustee(s) or separate trustee trustee(s) shall be required pursuant to under Section 10.039.08 hereof.

Appointment of Co-Trustee or Separate. Trustee(a) . Trustee (a) Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Owner Trust Estate or any Mortgaged Property may at the time be located, and for the purpose of performing certain duties and obligations of the Owner Trustee with respect to the Trust and the Certificates, the Owner Trustee shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee and acceptable to the Note Insurer to act as co-trustee, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of the Owner Trust Estate, and to vest in such Person, in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section 10.05, such powers, duties, obligations, rights and trusts as the Note Insurer and the Owner Trustee may consider necessary or desirable. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.01 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.03.

Appointment of Co-Trustee or Separate. Trustee(a) . (a) Trustee Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements requirement of any jurisdiction in which any part of the Owner Trust Estate or any Mortgaged Property Financed Vehicle may at the time be located, the Administrator and for the purpose of performing certain duties and obligations of the Owner Trustee with respect to acting jointly shall, at the Trust and expense of the CertificatesServicer, the Owner Trustee shall have the power and shall shall, at the expense of the Servicer, execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee and acceptable to the Note Insurer to act as co-trustee, jointly with the Owner Trustee, or as separate trustee or separate trustees, of all or any part of the Owner Trust Estate, and to vest in such Person (in the name of the Trust and not in such Person's name for the Trust, except to the extent otherwise required by, and in accordance with, Section 2.8), in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section 10.056.12, such powers, duties, obligations, rights and trusts as the Note Insurer Administrator and the Owner Trustee may consider necessary or desirable. If the Administrator shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Owner Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.01 6.13 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.036.10.