Common use of Registration of Certificates Clause in Contracts

Registration of Certificates. The Owner Trustee, in its capacity as “Certificate Registrar” shall maintain at its office referred to in Section 2.2, or at the office of any agent appointed by it and approved in writing by the Certificateholders at the time of such appointment, a register (the “Certificate Register”) for the registration and transfer of any Certificate, and the Owner Trustee or such agent shall promptly notify the Indenture Trustee of any change in the registered ownership of a Certificate. Prior to the presentment for registration of transfer of any Certificate, the Owner Trustee and the Indenture Trustee or any agent of the Owner Trustee, the Indenture Trustee and the Depositor may treat the Person in whose name any Certificate is registered (as of the applicable Record Date) as the owner of such Certificate for the purpose of receiving distributions on such Certificate and for all other purposes whatsoever and unless the Certificate Register is notified of such change in ownership the only available recourse such transferee shall have shall be to the person in whose name the related Certificate is registered.

Registration of Certificates. The Owner Trustee, in its capacity as “Certificate Registrar” shall maintain at its office referred to in Section 2.2, or at the office of any agent appointed by it and approved in writing by the Certificateholders at the time of such appointment, a register (the “Certificate Register”) for the registration and transfer of any Certificate, and the Owner Trustee or such agent shall promptly notify the Indenture Trustee of any change in the registered ownership of a Certificate. Prior to the presentment for registration of transfer of any Certificate, the Certificate Registrar, the Owner Trustee and the Indenture Trustee or any agent of the Owner Trustee, the Indenture Trustee and the Depositor may treat the Person in whose name any Certificate is registered (as of the applicable Record Date) as the owner of such Certificate for the purpose of receiving distributions on such Certificate and for all other purposes whatsoever and unless the Certificate Register is notified of such change in ownership the only available recourse such transferee shall have shall be to the person in whose name the related Certificate is registered.