Common use of CRB May Own Securities Clause in Contracts

CRB May Own Securities. CRB and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Securities with the same rights as it would have if it were not the Servicer or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Except as otherwise expressly provided in the Basic Documents, Securities so owned by or pledged to the Servicer or any such Affiliate shall have an equal and proportionate benefit under the Basic Documents, without preference, priority or distinction as among the Notes and the Certificates, as the case may be.

Appears in 8 contracts

Samples: Sale and Servicing Agreement (California Republic Auto Receivables Trust 2016-2), Sale and Servicing Agreement (California Republic Auto Receivables Trust 2016-2), Sale and Servicing Agreement (California Republic Auto Receivables Trust 2016-1)

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