Common use of Owner Trustee and Delaware Trustee May Own Certificates and Notes Clause in Contracts

Owner Trustee and Delaware Trustee May Own Certificates and Notes. [The]/[Each of the] Owner Trustee [and the Delaware Trustee,] in its individual or any other capacity (but not in its fiduciary capacity), may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Company, the Administrator, the Indenture Trustee and the Servicer in banking or other transactions with the same rights as it would have if it were not Owner Trustee [or Delaware Trustee, respectively].

Appears in 2 contracts

Samples: Trust Agreement (Toyota Lease Trust), Trust Agreement (Toyota Lease Trust)

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Owner Trustee and Delaware Trustee May Own Certificates and Notes. [The]/[Each Each of the] the Owner Trustee [and the Delaware Trustee,] , in its individual or any other capacity (but not in its fiduciary capacity), may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Company, the Administrator, the Indenture Trustee and the Servicer in banking or other transactions with the same rights as it would have if it were not Owner Trustee [or Delaware Trustee, respectively].

Appears in 2 contracts

Samples: Trust Agreement (Toyota Auto Receivables 2011-a Owner Trust), Trust Agreement (Toyota Auto Receivables 2011-a Owner Trust)

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