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 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 and the Indenture Trustee receives written notice of the foregoing and consents thereto. 23 (2018-A Indenture)

Appears in 2 contracts

Samples: Indenture (Hyundai Abs Funding LLC), Indenture (Hyundai Auto Receivables Trust 2018-A)

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Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator 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 and the Indenture Trustee receives written notice of the foregoing and consents thereto. 23 24 (20182023-A Indenture)

Appears in 2 contracts

Samples: Indenture (Hyundai Auto Receivables Trust 2023-A), Indenture (Hyundai Auto Receivables Trust 2023-A)

Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator unless the Rating Agency Condition shall have been satisfied (other than with respect to S&PStandard & Poor’s, but with satisfaction of the Rating Agency Notification with respect to S&P Standard & Poor’s if S&P Standard & Poor’s is rating any Outstanding Class of Notes) in connection with such removal and the Indenture Trustee receives written notice of the foregoing and consents thereto. 23 29 (20182015-A B Indenture)

Appears in 1 contract

Samples: Indenture (Hyundai Auto Receivables Trust 2015-B)

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Removal of Administrator. So long as any Notes are Outstanding, the Issuer shall not remove the Administrator 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 and the Indenture Trustee receives written notice of the foregoing and consents thereto. 23 24 (20182022-A Indenture)

Appears in 1 contract

Samples: Indenture (Hyundai Auto Receivables Trust 2022-A)

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