Common use of Removal of Administrator Clause in Contracts

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer Issuing Entity shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstandingissued and outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So For so long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with respect to such removal.

Removal of Administrator. So For so long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removaltherewith.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless without providing prior written notice to the Rating Agency Condition shall have been satisfied in connection with such removalAgencies.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless so instructed by the Owner Trustee or the Indenture Trustee and unless each Rating Agency Condition shall have been satisfied received 10 days’ written notice thereof and shall not have notified the Indenture Trustee, the Administrator or the Owner Trustee that such removal might or would result in connection with such removalthe removal or reduction of the rating then assigned thereby to any Class of Notes.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied (other than with respect to S&P, but with satisfaction of the Rating Agency Notification with respect to S&P if S&P is rating any Outstanding Class of Notes) in connection with such removalremoval and the Indenture Trustee receives written notice of the foregoing and consents thereto.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removalremoval and the Indenture Trustee receives written notice of the foregoing and consents thereto.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removaltherewith.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless so instructed by the Owner Trustee or the Indenture Trustee and unless the Rating Agency Condition shall have been satisfied in connection with respect to such removal.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied with respect to each Rating Agency in connection with such removalremoval and the Indenture Trustee receives written notice of the foregoing and consents thereto.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless so instructed by the Owner Trustee or the Indenture Trustee and unless each Rating Agency Condition shall have been satisfied received ten (10) days’ written notice thereof and shall not have notified the Indenture Trustee, the Administrator or the Owner Trustee that such removal might or would result in connection with such removalthe removal or reduction of the rating then assigned thereby to any Class of Notes.

Removal of Administrator. So For so long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstandingoutstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied (other than with respect to Standard & Poor’s, but with satisfaction of the Rating Agency Notification with respect to Standard & Poor’s if Standard & Poor’s is rating any Outstanding Class of Notes) in connection with such removalremoval and the Indenture Trustee receives written notice of the foregoing and consents thereto.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless without prior satisfaction of the Rating Agency Condition shall have been satisfied in connection with such removalCondition.

Removal of Administrator. So long as any Notes are Outstandingoutstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition for each series of Notes then outstanding shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstandingoutstanding, the Issuer shall not remove the Administrator without cause unless without prior satisfaction of the Rating Agency Condition shall have been satisfied in connection with such removalCondition.

Removal of Administrator. So long as any Notes are Outstandingoutstanding, the Issuer shall may not remove the Administrator without cause as provided in the Administration Agreement, unless the Rating Agency Condition shall have has been satisfied in connection with such removal.

Removal of Administrator. So For so long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition Confirmation shall have been satisfied obtained in connection with such removaltherewith.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless so instructed by the Owner Trustee or the Indenture Trustee and unless the Rating Agency Condition with respect to such removal shall have been satisfied in connection with such removalsatisfied.

Removal of Administrator. So long as any Notes are ------------------------ Outstanding, the Issuer Owner Trustee shall not remove the Administrator without cause unless the Rating Agency Condition for each class of Notes then outstanding shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstanding------------------------ outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are ------------------------ Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstandingoutstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removalcause.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Issuer has received a letter from each Rating Agency Condition shall have been satisfied in connection with to the effect that such removalremoval will not cause the then-current ratings on the Notes to be qualified, reduced or withdrawn.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. 20 (NAROT 2019-C Indenture)

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. 18 (NAROT 2016-C Indenture)

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. 18 (NAROT 2020-A Indenture)

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied (other than with respect to S&P, but with satisfaction of the Rating Agency Notification with respect to S&P if S&P is rating any Outstanding Class of Notes) in connection with such removal.removal and the Indenture Trustee receives written notice of the foregoing and consents thereto. 22 (2018-B Indenture)

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition for each class of Notes then outstanding shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstandingissued ------------------------ and outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. 18 (NAROT 2017-A Indenture)

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. 18 (NAROT 2019-B Indenture)

Removal of Administrator. So For so long as any Notes are Outstanding, the Issuer Owner Trustee shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removaltherewith.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. 18 (NAROT 2016-B Indenture)

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition for each Series of Notes then outstanding shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Issuer has received a letter from each Rating Agency Condition shall have been satisfied in connection with to the effect that such removalremoval will not cause the then current ratings on the Notes and the Certificate to be qualified, reduced or withdrawn.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. 18 (NAROT 2016-A Indenture)

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. 19 (NAROT 2017-B Indenture)

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removalremoval and the Indenture Trustee receives written notice of the foregoing and the Insurer and the Indenture Trustee shall have given their prior written consent.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied (other than with respect to Standard & Poor’s, but with satisfaction of the Rating Agency Notification with respect to Standard & Poor’s if Standard & Poor’s is rating any Outstanding Class of Notes) in connection with such removal.removal and the Indenture Trustee receives written notice of the foregoing and consents thereto. 21 (2016-A Indenture)

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Issuer has received a letter from each Rating Agency Condition shall have been satisfied in connection with to the effect that such removalremoval will not cause the then-current ratings on the Notes and the Certificate to be qualified, reduced or withdrawn.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removalremoval and the Subordinate Note Insurer shall have given its prior written consent.

Removal of Administrator. So long as any Notes ------------------------ are Outstanding, the Issuer Owner Trustee shall not remove the Administrator without cause unless the Rating Agency Condition for each class of Notes then outstanding shall have been satisfied in connection with such removal.

Removal of Administrator. So For so long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removaltherewith and the Insurer has previously consented in writing.

Removal of Administrator. So For so long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. ARTICLE IV

Removal of Administrator. So For so long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. 30

Removal of Administrator. So long as any Notes are ------------------------ Outstanding, the Issuer shall not remove the Administrator without cause unless consented to in writing by the Rating Agency Condition Swap Counterparty and the Swap Guarantor and so long as such removal shall have been satisfied in connection with such removalnot cause the rating of the Notes or the Certificates to be reduced, suspended or withdrawn.

Removal of Administrator. So long as any Notes are Outstandingoutstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition Condition, if applicable, shall have been satisfied in connection with such removal.

Removal of Administrator. So For so long as any ------------------------ Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with respect to such removal and, unless an Insurer Default shall have occurred and be continuing, the Insurer shall have consented to such removal.

Removal of Administrator. So long as any Notes are Outstanding, the The Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are ------------------------ Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removalremoval and the Indenture Trustee receives written notice of the foregoing and the Note Insurer has given its prior written consent with a copy of such consent to the Indenture Trustee.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Issuer has received a letter from each Rating Agency Condition shall have been satisfied in connection with to the effect that such removalremoval will not cause the then-current ratings on the Notes and the Certificates to be qualified, reduced or withdrawn.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.. ARTICLE IIIA Calculation of Rates

Removal of Administrator. So long as any Notes are Outstanding, the Issuer Owner Trustee shall not remove the Administrator without cause unless the Rating Agency Condition for each class of Notes then outstanding shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless so instructed by the Owner Trustee or the Indenture Trustee and unless the Rating Agency Condition shall have with respect to such removal has been satisfied in connection with such removalsatisfied.

Removal of Administrator. So For so long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.therewith. 2000-1 Indenture

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with respect to such removal.

Removal of Administrator. So long as any Notes are Outstandingissued and outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.. ARTICLE FOUR

Removal of Administrator. So long as any Indenture Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are ------------------------ Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition for each Series of Notes then outstanding shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.removal and the Indenture Trustee receives written notice of the foregoing and consents thereto. 24

Removal of Administrator. So long as any Notes are ------------------------ Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition Agencies shall have been satisfied notified the Indenture Trustee that such removal will not result in connection with such removalthe reduction.

Removal of Administrator. So long as any Notes are ------------------------ Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition for each class of Notes then outstanding shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstandingoutstanding, the Issuer Trust shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition Credit Enhancer shall have been satisfied in connection with consented to such removal.

Removal of Administrator. So long as any Notes or any other interests in the Receivables specified in the related Indenture Supplement are Outstandingoutstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.

Removal of Administrator. So For so long as any Notes are Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition Confirmation shall have been satisfied provided in connection with such removaltherewith.

Removal of Administrator. So long as any Notes are ------------------------ Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removalremoval and the Indenture Trustee receives written notice of the foregoing and the Insurer and the Indenture Trustee shall have given their prior written consent.