Common use of Benefits of the Administration Agreement Clause in Contracts

Benefits of the Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee, the Issuer Delaware Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the Indenture and the Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, each of the Owner Trustee and the Issuer Delaware Trustee is a third party beneficiary of this Agreement and each is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto.

Appears in 16 contracts

Samples: Administration Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Administration Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Administration Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

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Benefits of the Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee, the Issuer Delaware Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the Indenture and the Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, each of the Owner Trustee and the Issuer Delaware Trustee is a third party beneficiary of this Agreement and each is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto.

Appears in 10 contracts

Samples: Administration Agreement (Santander Drive Auto Receivables Trust 2024-2), Administration Agreement (Santander Drive Auto Receivables Trust 2024-2), Administration Agreement (Drive Auto Receivables Trust 2024-1)

Benefits of the Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee, the Issuer Delaware Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the Indenture and the Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, each of the Owner Trustee and the Issuer Delaware Trustee is are each a third party beneficiary of this Agreement and each is are entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it such party were a party hereto.

Appears in 6 contracts

Samples: Administration Agreement (Volkswagen Auto Lease Trust 2012-A), Administration Agreement (Volkswagen Auto Lease Trust 2012-A), Administration Agreement (Volkswagen Auto Lease Trust 2011-A)

Benefits of the Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Delaware Trustee, the Issuer Delaware Owner Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the Indenture and the NoteholdersIndenture, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, each of the Owner Trustee and the Issuer Delaware Trustee is a are each third party beneficiary beneficiaries of this Agreement and each is are entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it there were a party parties hereto.

Appears in 4 contracts

Samples: Administration Agreement (Fifth Third Auto Trust 2019-1), Administration Agreement (Fifth Third Auto Trust 2019-1), Administration Agreement (Fifth Third Auto Trust 2017-1)

Benefits of the Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee, the Issuer Delaware Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the Indenture and the Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, each of the Owner Trustee and the Issuer Delaware Trustee is are each a third party beneficiary of this Agreement and each is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto.

Appears in 4 contracts

Samples: Administration Agreement (Volkswagen Auto Loan Enhanced Trust 2011-1), Administration Agreement (Volkswagen Auto Loan Enhanced Trust 2011-1), Administration Agreement (Volkswagen Auto Loan Enhanced Trust 2010-1)

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Benefits of the Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee, [the Issuer Delaware Trustee, ,] any separate trustee or co-trustee appointed under Section 6.10 of the Indenture and the Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, [each of of] the Owner Trustee [and the Issuer Delaware Trustee Trustee] is a third party beneficiary of this Agreement and each [each] is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto.

Appears in 2 contracts

Samples: Administration Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Administration Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

Benefits of the Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Delaware Trustee, the Issuer Delaware Owner Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the Indenture [and the NoteholdersSwap Counterparty], any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, each of the Owner Trustee and the Issuer Delaware Trustee is a are each third party beneficiary beneficiaries of this Agreement and each is are entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it there were a party parties hereto.

Appears in 2 contracts

Samples: Administration Agreement (Fifth Third Holdings Funding, LLC), Administration Agreement (Fifth Third Holdings Funding, LLC)

Benefits of the Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee, the Issuer Delaware Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the Indenture and the Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, each of the Owner Trustee and the Issuer Delaware Trustee is are each a third party beneficiary of this Agreement and each is are entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it such party were a party hereto.

Appears in 1 contract

Samples: Administration Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

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