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

Owner Trustee May Own Certificates and Notes. The Owner Trustee, in its individual or any other capacity, may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, 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 ServicerCompany, the Administrator and 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.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, 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 ServicerAdministrator, the Administrator and 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.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Administrator Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer in banking transactions with in the same rights manner as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSellers, the Administrator Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacitycapacity may, may subject to Section 3.05, become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Administrator Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerCompany, the Administrator and Administrator, the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacitycapacity may, may subject to Section 3.04, become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Administrator Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The entity serving as Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the Servicer, the Administrator Trust Collateral Agent and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner a Securityholder or pledgee of Certificates or Notes and may deal with the DepositorTransferor, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of the Certificates or the Notes and may deal with the Depositor, the Servicer, the Administrator Indenture Trustee and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator and 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.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Certificate Paying Agent, the Certificate Registrar, the Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the Servicer, the Administrator Trust Collateral Agent and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerIndenture Trustee, the Administrator and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer in banking transactions with in the same rights manner as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacitycapacity may, may subject to Section 3.05, become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Certificate Paying Agent, the Certificate Registrar, the Securities Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator Indenture Trustee and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of the Certificates or the Notes and may deal with the DepositorSponsor, the ServicerIndenture Trustee, the Administrator Master Servicer and the Indenture Trustee Backup Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator Indenture Trustee and the Indenture Trustee Servicer in banking transactions in the same manner and with the same rights as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, 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 ServicerCompany, the Administrator and 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.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator Trustee and the Indenture Trustee Master Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator Indenture Trustee and the Indenture Trustee Master Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of the Certificates or Notes and may deal with the Depositor, the ServicerCertificate Paying Agent, the Administrator Certificate Registrar, the Paying Agent, the Master Servicer and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner a Certificateholder or Noteholder or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator Indenture Trustee, the Seller and the Indenture Trustee Master Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Subject to the provisions of Section 3.1 hereof, the Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSponsor, the Servicer, the Administrator and the Indenture Trustee and the Master Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator Trustee and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Administrator and 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.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Class A Notes and may deal with the DepositorSeller, the Servicer, the Administrator Trust Collateral Agent and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the Servicer, the Administrator and the Indenture Trustee and the Servicer in banking transactions with in the same rights manner as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become a Certificateholder (provided that, so long as any Note is Outstanding, if the Owner Trustee should acquire a Trust Certificate, it shall be a REIT or a Qualified REIT Subsidiary) or the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee pledge of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator Trustee and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become a Certificateholder (provided it is an Eligible corporation) or the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Administrator Certificate Paying Agent, the Certificate Registrar, the Paying Agent and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The [ ] or any successor Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer in banking transactions with in the same rights manner as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerIndenture Trustee, the Administrator and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerIndenture Trustee, the Administrator and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacitycapacity may, may subject to Section 3.05, become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Securities Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the Servicer, the Administrator and the Indenture Trustee and the Servicer in banking transactions in the same manner and with the same rights as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The -------------------------------------------- Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer in banking transactions with in the same rights manner as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the ServicerCertificate Paying Agent, the Certificate Registrar, the Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerCompany, the Administrator Administrator, the Indenture Trustee, the Servicer and the Indenture Trustee Backup Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorDepositors, the ServicerSeller, the Administrator and 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.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity (but not it its fiduciary capacity, ) may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator and 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.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerIndenture Trustee, the Administrator and the Indenture Trustee Master Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of the Certificates or Notes and may deal with the Depositor, the ServicerOwner, the Administrator and Residual Interest Owner, the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee pledge of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator Trustee and the Indenture Trustee Master Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become a Certificateholder subject to the requirements of Section 3.3, or the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Securities Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become a Certificateholder (provided that, so long as any Note is Outstanding, if the Owner Trustee should acquire a Trust Certificate or a Class X Certificate in accordance with Section 3.03, it shall be a REIT or a Qualified REIT Subsidiary) or the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Master Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, in its individual or any other capacity, may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator and the Indenture Trustee in banking transactions with the same rights as it they would have if it were was not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of the Certificates or Notes and may deal with the Depositor, the ServicerTrust Owner, the Administrator and Residual Interest Owner, the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner a Securityholder or pledgee of Certificates or Notes and may deal with the DepositorTransferor, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.. ARTICLE EIGHT COMPENSATION OF OWNER TRUSTEE

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSponsor, the Servicer, the Administrator and the Indenture Trustee and the Master Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSponsor, the Servicer, the Administrator and the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner a Certificateholder or Noteholder or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator Indenture Trustee, the Seller and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, in its individual or any other capacity, may may, subject to Section 3.04 hereof, become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Administrator Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become a Certificateholder or the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Securities Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The [Name of Owner Trustee, ] or any successor Owner Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer in banking transactions with in the same rights manner as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, -------------------------------------------- Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer in banking transactions with in the same rights manner as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of the Certificates or the Notes and may deal with the DepositorDepositors, the Servicer, the Administrator and the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerDesignated Seller, the Administrator Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.. [NY01:241702.4] 16069-00382 12/19/96 10:59pm 24

Owner Trustee May Own Certificates and Notes. The Owner Trustee, -------------------------------------------- Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, 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 ServicerAdministrator, the Administrator and 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.. 24 (NAROT 2020-B Amended & Restated Trust Agreement)

Owner Trustee May Own Certificates and Notes. The Subject to the provisions of Section 3.01 hereof, the Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSponsor, the Servicer, the Administrator and the Indenture Trustee and the Master Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerIndenture Trustee, the Administrator and the Indenture Trustee Master Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, 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 ServicerAdministrator, the Administrator and 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.. 21 (Nissan 2015-C Amended & Restated Trust Agreement)

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacitycapacity may, may subject to Section 3.04, become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSponsor, the Administrator Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, 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 ServicerAdministrator, the Administrator and 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.. 21 (Nissan 2015-B Amended & Restated Trust Agreement)

Owner Trustee May Own Certificates and Notes. The Owner Trustee, 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 ServicerAdministrator, the Administrator and 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.. 24 (NAROT 2022-B Amended & Restated Trust Agreement)

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacitycapacity may, may subject to Section 3.04, become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Administrator Mortgage Loan Seller, the Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of the Certificates or the Notes and may deal with the Depositor, the Servicer, the Administrator Trustee and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Administrator Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.. [NY01:227417.4] 16069-00369 10/30/96 3:33pm 24

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner a Securityholder or pledgee of Certificates or Notes and may deal with the DepositorTransferor, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.. ARTICLE EIGHT

Owner Trustee May Own Certificates and Notes. The [ ] or any successor Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerIndenture Trustee, the Administrator and the Indenture Trustee Servicer in banking transactions with in the same rights manner as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerIndenture Trustee, the Administrator Servicer and the Indenture Trustee Seller in banking transactions in the same manner and with the same rights as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, -------------------------------------------- Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the Servicer, the Administrator and the Indenture Trustee and the Servicer in banking transactions with in the same rights manner as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Bankers Trust (Delaware) or any successor Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer in banking transactions with in the same rights manner as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual itsindividual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal maydeal with the Depositor, the ServicerSeller, the Administrator Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become a Certificateholder (provided, that if the Owner Trustee should acquire the Ownership Certificate, it shall be a REIT or a Qualified REIT Subsidiary) or the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Trust Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee or the Co-Owner Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator Indenture Trustee, the Seller and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee or the Co-Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorUnaffiliated Seller, the Servicer, the Administrator and the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerTransferor, the Administrator Indenture Trustee, the Seller, the Servicer and their respective Affiliates in transactions in the Indenture Trustee in banking transactions same manner and with the same rights as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner Certificateholder or Noteholder or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator Indenture Trustee, the Seller and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee[ ], in its individual or any other capacity, may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator, the Data Administrator and the Indenture Trustee in banking transactions with the same rights as it they would have if it were was not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacitycapacity may, may subject to Section 3.05, become the owner or pledgee pledge of Certificates or Notes and may deal with the Depositor, the ServicerCertificate Registrar, the Administrator Master Servicer and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerIndenture Trustee, the Administrator Administrator, Administrative Agent and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator and the Indenture Trustee and the Servicer and their respective Affiliates in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become a Certificateholder (provided that, so long as any Note is Outstanding, if the Owner Trustee should acquire a Trust Certificate [or a Class X Certificate] in accordance with Section 3.03, it shall be a REIT or a Qualified REIT Subsidiary) or the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, ------------------------------------------------- Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerSeller, the Administrator Certificate Paying Agent, the Certificate Registrar, the Paying Agent and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The [Owner Trustee], in its individual or any other capacity, may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator and the Indenture Trustee in banking transactions with the same rights as it they would have if it were was not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the either Depositor, the ServicerAdministrator, the Administrator and Custodian, the Indenture Trustee and the Servicer in banking transactions in the same manner and with the same rights as it would have if it were not the Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Trust Depositor, the ServicerIndenture Trustee, the Administrator Paying Agent and the Indenture Trustee Collateral Manager in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerAdministrator, the Administrator and the Indenture Trustee [the Master Servicer] and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerIndenture Trustee, the Administrator and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.. TRUST AGREEMENT

Owner Trustee May Own Certificates and Notes. The Subject to the provisions of Section 3.1 hereof, the Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the DepositorSeller, the Servicer, the Administrator and the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, -------------------------------------------- Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the ServicerIndenture Trustee, the Administrator Paying Agent and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner -------------------------------------------- Trustee, in its individual or any other capacity, may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee.

Owner Trustee May Own Certificates and Notes. The Owner Trustee, Trustee in its individual or any other capacity, capacity may become the owner or pledgee of Certificates or Notes and may deal with the Trust Depositor, the ServicerIndenture Trustee, the Administrator Paying Agent and the Indenture Trustee Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.