Common use of Compliance with CTA Clause in Contracts

Compliance with CTA. The Corporate Transparency Act (31 U.S.C. §5336) and its implementing regulations (collectively, the “CTA”) may require the Issuer and/or the Grantor Trust to file certain reports with FinCEN after the date of this Agreement. It shall be the Administrator’s duty and not the Owner Trustee’s or Grantor Trust Trustee’s duty to cause the Issuer and/or the Grantor Trust to make such filings and to cause the Issuer and/or the Grantor Trust to comply with its obligations under the CTA, if any. The parties hereto agree that for purposes of the CTA, the Owner Trustee acts solely as a directed trustee at the direction of the Depositor or the Administrator hereunder and that the Certificateholders, the Depositor or the Administrator, as applicable, are and shall deemed to be the parties with the power and authority to exercise substantial control over the Issuer.