Common use of Merger or Consolidation of the Owner Trustee Clause in Contracts

Merger or Consolidation of the Owner Trustee. Any corporation or other entity into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation or other entity resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation or other entity succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall be the successor to and assume all obligations of the Owner Trustee, without the execution or filing of any assignment or other instrument or any further act on the part of such other entity or any of the parties hereto, anything herein to the contrary notwithstanding; provided, that such corporation or other entity shall be eligible pursuant to Section 10.01 and, provided, further, that the Owner Trustee shall provide prior written notice of such merger, conversion or consolidation to the Depositor (provided, that if the Owner Trustee shall be a public company or a wholly-owned subsidiary of a public company, no earlier than at such time as the Owner Trustee or such Affiliate is required to make such information public), who shall promptly deliver such notice to each Rating Agency. Additionally, the Owner Trustee shall provide the Depositor with written notice of the consummation of such transaction no later than one (1) Business Day after the effective date of such event, together with the information reasonably requested by the Depositor in order to comply with its reporting obligations under the Exchange Act with respect to a successor Owner Trustee.

Merger or Consolidation of the Owner Trustee. Any corporation or other entity into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation or other entity resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation or other entity succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall be the successor to and assume all obligations of the Owner Trustee, without the execution or filing of any assignment or other instrument or any further act on the part of such other entity or any of the parties hereto, anything herein to the contrary notwithstanding; provided, that such corporation or other entity shall be eligible pursuant to Section 10.01 and, provided, further, that the Owner Trustee shall provide prior written notice of such merger, conversion merger or consolidation to the Depositor (provided, that if the Owner Trustee shall be a public company or a wholly-owned subsidiary of a public company, no earlier than at such time as the Owner Trustee or such Affiliate is required to make such information public), who shall promptly deliver such notice to each Rating Agency. Additionally, the Owner Trustee shall provide the Depositor with written notice of the consummation of such transaction no later than one (1) Business Day after the effective date of such event, together with the information reasonably requested by the Depositor in order to comply with its reporting obligations under the Exchange Act with respect to a successor Owner Trustee.