Common use of Corporate Existence of Owner Trustee Clause in Contracts

Corporate Existence of Owner Trustee. (a) Subject to Subsections (b) and (c) hereof, the Owner Trustee will keep in full effect its existence, rights and franchises as a banking corporation under the laws of the State of Delaware. (b) Any corporation into which the Owner Trustee may be merged or with which it may be consolidated, or any corporation resulting from any merger or consolidation to which such Owner Trustee shall be a party, shall be the successor Owner Trustee under this Indenture without the execution or filing of any paper, instrument or further act to be done on the part of the parties hereto, anything herein, or in any agreement relating to such merger or consolidation, by which any such Owner Trustee may seek to retain certain powers, rights and privileges theretofore obtaining for any period of time following such merger or consolidation, to the contrary notwithstanding. (c) Any successor to the Owner Trustee appointed pursuant to the Trust Agreement shall be the successor Owner Trustee under this Indenture without the execution or filing of any paper, instrument or further act to be done on the part of the parties hereto. (d) Upon any consolidation or merger of or other succession to the Owner Trustee, the Person formed by or surviving such consolidation or merger (if other than the Owner Trustee) or the Person succeeding to the Owner Trustee under the Trust Agreement may exercise every right and power of, the Owner Trustee, on behalf of the Issuer under this Indenture with the same effect as if such Person had been named as the Owner Trustee herein.

Corporate Existence of Owner Trustee. (a) Subject to Subsections (b) and (c) hereof, the Owner Trustee will keep in full effect its existence, rights and franchises as a banking corporation under the laws of the State of Delaware. (b) Any corporation or association into which the Owner Trustee may be merged or with which it may be consolidated, or any corporation or association resulting from any merger or consolidation to which such the Owner Trustee shall be a party, shall be the successor Owner Trustee under this Indenture without the execution or filing of any paper, instrument or further act to be done on the part of the parties hereto, anything herein, or in any agreement relating to such merger or consolidation, by which any such Owner Trustee may seek to retain certain powers, rights and privileges theretofore therefore obtaining for any period of time following such merger or consolidation, to the contrary notwithstanding. (cb) Any successor to the Owner Trustee appointed pursuant to Section 10.01 of the Deposit Trust Agreement shall be the successor Owner Trustee under this Indenture without the execution or filing of any paper, instrument or further act to be done on the part of the parties hereto. (dc) Upon any consolidation or merger of or other succession to the Owner TrusteeTrustee in accordance with this Section 3.04, the Person formed by or surviving such consolidation or merger (if other than the Owner TrusteeIssuer) or the Person succeeding to the Owner Trustee under the Deposit Trust Agreement may exercise every right and power of, of the Owner Trustee, on behalf of the Issuer Issuer, under this Indenture with the same effect as if such Person had been named as the Owner Trustee herein.