Rights Upon Discharge of Indenture. Upon the payment in full of the Notes, the satisfaction and discharge of the Indenture, the Owner Trustee will succeed to all rights of the Trustee hereunder and the Owners (as such term is defined in the Trust Agreement) will succeed to all rights of the Noteholders hereunder.
Appears in 3 contracts
Samples: Servicing Agreement (Mid-State Homes Inc), Servicing Agreement (Mid State Trust Vi), Servicing Agreement (Mid State Trust Vi)
Rights Upon Discharge of Indenture. Upon the payment in full of the Notes, the satisfaction and discharge of the Indenture, the Owner Trustee will succeed to all rights of the Indenture Trustee hereunder and the Owners (as such term is defined in the Trust Agreement) will succeed to all rights of the Noteholders hereunder.
Appears in 2 contracts
Samples: Servicing Agreement (Trust, Asset Backed Notes), Servicing Agreement (Mid State Capital Corp)
