Common use of Binding Effect; Ratification Clause in Contracts

Binding Effect; Ratification. (a) This amendment shall become effective, as of the date first set forth above, when: (i) counterparts hereof shall have been executed and delivered by the parties hereto; (ii) the Rating Agency Condition is satisfied with respect to this Amendment; and (iii) the Transferor shall have delivered to the Successor Owner an Officer’s Certificate certifying that this Amendment will not cause an Adverse Effect (as defined in the Indenture). (b) When the condition set forth in Section 3(a) above has been satisfied, (i) this Amendment shall become part of the Servicing Agreement and (ii) each reference in the Servicing Agreement to “this Agreement” or “hereof”, “hereunder” or words of like import, and each reference in any other Related Document (as defined in the Servicing Agreement) to the Servicing Agreement shall mean and be a reference to the Servicing Agreement as amended hereby.

Binding Effect; Ratification. (a) This amendment Amendment shall become effective, as of the date first set forth above, when: (i) counterparts hereof shall have been executed and delivered by the parties hereto; (ii) the Rating Agency Condition is satisfied with respect to this Amendment; and (iii) the Transferor shall have delivered to the Successor Owner an Officer’s Certificate certifying that this Amendment will not cause an Adverse Effect (as defined in the Indenture). (b) When the condition set forth in Section 3(a) above has been satisfied, (i) this Amendment shall become part of the Servicing Agreement and (ii) each reference in the Servicing Agreement to “this Agreement” or “hereof”, “hereunder” or words of like import, and each reference in any other Related Document (as defined in the Servicing Agreement) to the Servicing Agreement shall mean and be a reference to the Servicing Agreement as amended hereby.