Common use of Consent of Cap Counterparty Clause in Contracts

Consent of Cap Counterparty. Notwithstanding anything to the contrary herein, no amendment under Sections 9.1 or 9.2 shall materially adversely affect (i) the Cap Counterparty’s ability to enforce or protect its rights or remedies under the Cap Agreement, (ii) the ability of the Issuer to timely and fully perform its obligations under the Cap Agreement or (iii) any of the Issuer’s obligations under the Cap Agreement that relates to the Cap Counterparty unless the Cap Counterparty shall have consented in writing to such action.

Appears in 14 contracts

Samples: Transfer and Servicing Agreement (Verizon Owner Trust 2020-A), Indenture (Verizon Owner Trust 2019-C), Transfer and Servicing Agreement (Verizon Owner Trust 2019-B)

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Consent of Cap Counterparty. Notwithstanding anything to the contrary herein, no amendment under Sections 9.1 or 9.2 shall materially adversely affect (i) the Cap Counterparty’s ability to enforce or protect its rights or remedies under the Cap Agreement, (ii) the ability of the Issuer Trust to timely and fully perform its obligations under the Cap Agreement or (iii) any of the IssuerTrust’s obligations under the Cap Agreement that relates to the Cap Counterparty unless the Cap Counterparty shall have consented in writing to such action.]

Appears in 3 contracts

Samples: Verizon Master Trust, Verizon Master Trust, Verizon Master Trust

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