Common use of Holder of the Series Certificate Clause in Contracts

Holder of the Series Certificate. For so long as the Series Certificate is pledged to the Indenture Trustee under the Indenture, the Indenture Trustee initially shall be deemed to be the holder of the Series Certificate for all purposes under the Pooling and Servicing Agreement and the Series Supplement. To the extent the Series Certificate is sold or otherwise transferred, subject to the provisions of Section 5.4 of the Indenture and Section 16 of the Series Supplement, to a third-party in connection with the sale or liquidation of the Owner Trust Estate pursuant to the provisions of the Indenture, such transferee shall be deemed to be the holder of the Series Certificate for all purposes under the Pooling and Servicing Agreement and the Series Supplement.

Holder of the Series Certificate. For so long as the Series Certificate is pledged to the Indenture Trustee under the Indenture, the Indenture Trustee initially shall be deemed to be the holder of the Series Certificate for all purposes under the Pooling and Servicing Agreement and the Series Supplement. To the extent the Series Certificate is sold or otherwise transferred, subject to the provisions of Section 5.4 of the Indenture and Section 16 of the Series Supplement, to a third-party in connection with the sale or liquidation of the Owner Trust Estate pursuant to the provisions of the Indenture, such transferee shall be deemed to be the holder of the Series Certificate for all purposes under the Pooling and Servicing Agreement and the Series Supplement.