Common use of Depositor May Own Certificates Clause in Contracts

Depositor May Own Certificates. The Depositor and any Person controlling, controlled by, or under common control with the Depositor may in its individual or any other capacity become the owner or pledgee of Certificates with the same rights as it would have if it were not the Depositor or an affiliate thereof, except as otherwise provided in the definition of "Certificateholder", "Class A Certificateholder" and "Class I Certificateholder." Certificates so owned by or pledged to the Depositor or such controlling or commonly controlled Person shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority, or distinction as among all of the Certificates.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (Uacsc 1997-D Auto Trust), Pooling and Servicing Agreement (Uacsc 1997-C Auto Trust), Pooling and Servicing Agreement (Uacsc 1997-a Auto Trust)

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Depositor May Own Certificates. The Depositor and any Person controlling, controlled by, or under common control with the Depositor may in its individual or any other capacity become the owner or pledgee of Certificates with the same rights as it would have if it were not the Depositor or an affiliate thereof, except as otherwise provided in the definition of "Certificateholder", "Class A Certificateholder" specified in Section 1.1 and "Class I Certificateholder." in Section 1.6. Certificates so owned by or pledged to the Depositor or such controlling or commonly controlled Person shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority, or distinction as among all of the CertificatesCertificates except as otherwise provided herein or by the definition of Certificateholder.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp), Pooling and Servicing Agreement (Long Beach Holdings Corp), Pooling and Servicing Agreement (Long Beach Acceptance Corp)

Depositor May Own Certificates. The Depositor and any Person controlling, controlled by, or under common control with the Depositor may in its individual or any other capacity become the owner or pledgee of Certificates with the same rights as it would have if it were not the Depositor or an affiliate thereof, except as otherwise provided in the definition of "Certificateholder", "Class A Certificateholder" and "Class I B Certificateholder." specified in Section 1.1. Certificates so owned by or pledged to the Depositor or such controlling or commonly controlled Person shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority, or distinction as among all of the Certificates.

Appears in 3 contracts

Samples: Supplement Agreement (Usaa Acceptance LLC), Supplement Agreement (Usaa Acceptance LLC), Supplement Agreement (Usaa Acceptance LLC)

Depositor May Own Certificates. The Depositor and any Person controlling, controlled by, or under common control with the Depositor may in its individual or any other capacity become the owner or pledgee of Certificates with the same rights as it would have if it were not the Depositor or an affiliate thereof, except as otherwise provided in the definition of "Certificateholder", "Class A Certificateholder" and "Class I A Certificateholder." Certificates so owned by or pledged to the Depositor or such controlling or commonly controlled Person shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority, or distinction as among all of the Certificates.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Uacsc 1998-D Auto Trust), Pooling and Servicing Agreement (Uacsc 1998-C Auto Trust), Pooling and Servicing Agreement (Bay View Securitization Corp)

Depositor May Own Certificates. The Depositor and any Person controlling, controlled by, by or under common control with with, the Depositor may in its individual or any other capacity become the owner or pledgee of Certificates with the same rights as it would have if it were not the Depositor or an affiliate thereof, except as otherwise provided in the definition of "Certificateholder", "Class A Certificateholder" and "Class I Certificateholder." specified in Section 11.1. Certificates so owned by or pledged to the Depositor or such controlling or commonly controlled Person shall have an equal and proportionate benefit under the provisions of this the Agreement, without preference, priority, priority or distinction as among all of the Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nationscredit Grantor Trust 1997-1), Nationscredit Grantor Trust 1997-2

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Depositor May Own Certificates. The Depositor and any Person controlling, controlled by, or under common control with the Depositor may in its individual or any other capacity become the owner or pledgee of Certificates with the same rights as it would have if it were not the Depositor or an affiliate thereof, except as otherwise provided in the definition of "Certificateholder", ," "Class A Certificateholder" and "Class I Certificateholder." Certificates so owned by or pledged to the Depositor or such controlling or commonly controlled Person shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority, or distinction as among all of the Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bay View Securitization Corp)

Depositor May Own Certificates. The Depositor and any Person controlling, controlled by, by or under common control with with, the Depositor may in its individual or any other capacity become the owner or pledgee of Certificates with the same rights as it would have if it were not the Depositor or an affiliate thereof, except as otherwise provided in the definition of "Certificateholder", "Class A Certificateholder" and "Class I Certificateholder." specified in Section 7.1. Certificates so owned by or pledged to the Depositor or such controlling or commonly controlled Person shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority, priority or distinction as among all of the Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cit Group Inc)

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