Common use of Securities Administrator Clause in Contracts

Securities Administrator. (a) The Securities Administrator shall make distributions to Certificateholders from the Certificate Distribution Account on behalf of the Trust in accordance with the provisions of the Certificates and Section 5.01 hereof from payments remitted to the Securities Administrator pursuant to Section 3.03 of the Indenture. The Trust hereby appoints the Securities Administrator and the Securities Administrator hereby accepts such appointment and further agrees that it will be bound by the provisions of this Trust Agreement relating to the Securities Administrator and shall: (i) hold all sums held by it for the payment of amounts due with respect to the Certificates in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; (ii) give the Owner Trustee notice of any default by the Trust of which a Responsible Officer of the Securities Administrator has actual knowledge in the making of any payment required to be made with respect to the Certificates; (iii) at any time during the continuance of any such default, upon the written request of the Owner Trustee forthwith pay to the Owner Trustee on behalf of the Trust all sums so held in Trust by such Securities Administrator ; (iv) not resign from its position as Securities Administrator except that it shall immediately resign as Securities Administrator and forthwith pay to the Owner Trustee on behalf of the Trust all sums held by it in trust for the payment of Certificates if at any time it ceases to meet the standards under this Section 3.08 required to be met by the Securities Administrator at the time of its appointment; (v) comply with all requirements of the Code with respect to the withholding from any payments made by it on any Certificates of any applicable withholding taxes imposed thereon and with respect to any applicable reporting requirements in connection therewith; and (vi) not institute bankruptcy proceedings against the Issuing Entity in connection with this Trust Agreement. (b) The Trust may revoke such power and remove the Securities Administrator if it determines in its sole discretion that the Securities Administrator shall have failed to perform its obligations under this Trust Agreement in any material respect. In the event that Wxxxx Fargo Bank, N.A. shall no longer be the Securities Administrator under this Trust Agreement and under the Indenture, the Owner Trustee shall appoint a successor to act as Securities Administrator (which shall be a bank or trust company) and which shall also be the successor securities administrator under the Indenture. The Owner Trustee shall cause such successor securities administrator or any additional Securities Administrator appointed by the Owner Trustee to execute and deliver to the Owner Trustee an instrument to the effect set forth in Section 3.08(a) as it relates to the Securities Administrator . The Securities Administrator shall return all unclaimed funds to the Trust and upon removal of a Securities Administrator such Securities Administrator shall also return all funds in its possession to the Trust. The provisions of Sections 6.01, 6.04, 6.05, 6.06, 6.07, 6.08 and 7.01 shall apply to the Securities Administrator to the same extent applicable to the Owner Trustee except where the context requires otherwise. Any reference in this Agreement to the Securities Administrator shall include any co-paying agent unless the context requires otherwise. (c) The Securities Administrator shall establish and maintain with itself a trust account (the “Certificate Distribution Account”) in which the Securities Administrator shall deposit each remittance received by it with respect to payments made pursuant to the Indenture. The Securities Administrator shall make all distributions to Certificates, from moneys on deposit in the Certificate Distribution Account, in accordance with Section 5.01 hereof. The funds in the Certificate Distribution Account shall be held uninvested.

Securities Administrator. (a) The Any successor Securities Administrator (which may be the Trustee) appointed as provided in Section 10.07 hereof shall make distributions to Certificateholders from the Certificate Distribution Account on behalf of the Trust in accordance with the provisions of the Certificates execute, acknowledge and Section 5.01 hereof from payments remitted deliver to the Securities Administrator pursuant Depositor and to Section 3.03 of the Indenture. The Trust hereby appoints the its predecessor Securities Administrator and the Trustee an instrument accepting such appointment hereunder and thereupon the resignation or removal of the predecessor Securities Administrator hereby accepts shall become effective and such appointment successor Securities Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and further agrees that it will be bound by obligations of its predecessor hereunder, with the provisions of this Trust Agreement relating to the Securities Administrator and shall: (i) hold all sums held by it for the payment of amounts due with respect to the Certificates in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of like effect as herein provided; (ii) give the Owner Trustee notice of any default by the Trust of which a Responsible Officer of the Securities Administrator has actual knowledge in the making of any payment required to be made with respect to the Certificates; (iii) at any time during the continuance of any such default, upon the written request of the Owner Trustee forthwith pay to the Owner Trustee on behalf of the Trust all sums so held in Trust by such Securities Administrator ; (iv) not resign from its position if originally named as Securities Administrator except that it shall immediately resign as herein. The Depositor, the Trustee, the Master Servicer and the predecessor Securities Administrator shall execute and forthwith pay to deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the Owner Trustee on behalf of the Trust successor Securities Administrator all sums held by it such rights, powers, duties, and obligations. No successor Securities Administrator shall accept appointment as provided in trust for the payment of Certificates if at any time it ceases to meet the standards under this Section 3.08 required to be met by the Securities Administrator 10.08 unless at the time of such acceptance such successor Securities Administrator shall be eligible under the provisions of Section 10.06 hereof and its appointment; (v) appointment shall not adversely affect the then current rating of the Certificates, as confirmed in writing by each Rating Agency and has provided to the Depositor in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with all requirements its reporting obligation under Item 6.02 of the Code Form 8-K with respect to the withholding from any payments made a replacement Securities Administrator. Upon acceptance by it on any Certificates of any applicable withholding taxes imposed thereon and with respect to any applicable reporting requirements in connection therewith; and (vi) not institute bankruptcy proceedings against the Issuing Entity in connection with this Trust Agreement. (b) The Trust may revoke such power and remove the a successor Securities Administrator if it determines of appointment as provided in its sole discretion that this Section 10.08, the Depositor shall mail notice of the succession of such Securities Administrator hereunder to all Holders of Certificates. If the Depositor fails to mail such notice within ten (10) days after acceptance by the successor Securities Administrator of appointment, the successor Securities Administrator shall have failed to perform its obligations under this Trust Agreement in any material respect. In the event that Wxxxx Fargo Bank, N.A. shall no longer be the Securities Administrator under this Trust Agreement and under the Indenture, the Owner Trustee shall appoint a successor to act as Securities Administrator (which shall be a bank or trust company) and which shall also be the successor securities administrator under the Indenture. The Owner Trustee shall cause such successor securities administrator or any additional Securities Administrator appointed by notice to be mailed at the Owner Trustee to execute and deliver to expense of the Owner Trustee an instrument to the effect set forth in Section 3.08(a) as it relates to the Securities Administrator . The Securities Administrator shall return all unclaimed funds to the Trust and upon removal of a Securities Administrator such Securities Administrator shall also return all funds in its possession to the Trust. The provisions of Sections 6.01, 6.04, 6.05, 6.06, 6.07, 6.08 and 7.01 shall apply to the Securities Administrator to the same extent applicable to the Owner Trustee except where the context requires otherwise. Any reference in this Agreement to the Securities Administrator shall include any co-paying agent unless the context requires otherwiseDepositor. (c) The Securities Administrator shall establish and maintain with itself a trust account (the “Certificate Distribution Account”) in which the Securities Administrator shall deposit each remittance received by it with respect to payments made pursuant to the Indenture. The Securities Administrator shall make all distributions to Certificates, from moneys on deposit in the Certificate Distribution Account, in accordance with Section 5.01 hereof. The funds in the Certificate Distribution Account shall be held uninvested.

Securities Administrator. (a) The Securities Administrator shall make distributions to Certificateholders from the Certificate Distribution Account on behalf of the Trust in accordance with the provisions of the Certificates and Section 5.01 hereof from payments remitted to the Securities Administrator pursuant to Section 3.03 3.05 of the Indenture. The Trust hereby appoints the Securities Administrator as Paying Agent and the Securities Administrator hereby accepts such appointment and further agrees that it will be bound by the provisions of this Trust Agreement relating to the Securities Administrator and shall: (i) hold all sums held by it for the payment of amounts due with respect to the Certificates in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; (ii) give the Owner Trustee notice of any default by the Trust of which a Responsible Officer of the Securities Administrator has actual knowledge in the making of any payment required to be made with respect to the Certificates; (iii) at any time during the continuance of any such default, upon the written request of the Owner Trustee forthwith pay to the Owner Trustee on behalf of the Trust all sums so held in Trust by such Securities Administrator Administrator; (iv) not resign from its position as Securities Administrator except that it shall immediately resign as Securities Administrator and forthwith pay to the Owner Trustee on behalf of the Trust all sums held by it in trust for the payment of Certificates if at any time it ceases to meet the standards under this Section 3.08 3.10 required to be met by the Securities Administrator at the time of its appointment; (v) comply with all requirements of the Code with respect to the withholding from any payments made by it on any Certificates of any applicable withholding taxes imposed thereon and with respect to any applicable reporting requirements in connection therewith; and (vi) not institute bankruptcy proceedings against the Issuing Entity in connection with this Trust Agreement. (b) The Trust may revoke such power and remove the Securities Administrator if it determines in its sole discretion that the Securities Administrator shall have failed to perform its obligations under this Trust Agreement in any material respect. In the event that Wxxxx Xxxxx Fargo Bank, N.A. shall no longer be the Securities Administrator under this Trust Agreement and under the Indenture, the Majority Certificateholder, with the consent of the Owner Trustee Trustee, shall appoint a successor to act as Securities Administrator (which shall be a bank or trust company) and which shall also be the successor securities administrator under the Indenture. The Owner Trustee shall cause such successor securities administrator or any additional Securities Administrator appointed by the Owner Trustee to execute and deliver to the Owner Trustee an instrument to the effect set forth in Section 3.08(a3.10(a) as it relates to the Securities Administrator Administrator. The Securities Administrator shall return all unclaimed funds to the Trust and upon removal of a Securities Administrator such Securities Administrator shall also return all funds in its possession to the Trust. The provisions of Sections 6.01, 6.04, 6.05, 6.06, 6.07, 6.08 and 7.01 7.02 shall apply to the Securities Administrator to the same extent applicable to the Owner Trustee except where the context requires otherwise. Any reference in this Agreement to the Securities Administrator shall include any co-paying agent unless the context requires otherwise. (c) The Securities Administrator shall establish and maintain with itself a trust account (the “Certificate Distribution Account”) Account in which the Securities Administrator shall deposit each remittance received by it with respect to payments made pursuant to the Indenture. The Securities Administrator shall make all distributions to Certificates, from moneys on deposit in the Certificate Distribution Account, in accordance with Section 5.01 hereof. The funds in the Certificate Distribution Account shall be held uninvested.

Securities Administrator. (a) The Securities Administrator shall make distributions to Certificateholders from the Certificate Distribution Account on behalf of the Trust in accordance with the provisions of the Certificates and Section 5.01 hereof from payments remitted to the Securities Administrator pursuant to Section 3.03 of the Indenture. The Trust hereby appoints the Securities Administrator and the Securities Administrator hereby accepts such appointment and further agrees that it will be bound by the provisions of this Trust Agreement relating to the Securities Administrator and shall: (i) hold all sums held by it for the payment of amounts due with respect to the Certificates in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; (ii) give the Owner Trustee notice of any default by the Trust of which a Responsible Officer of the Securities Administrator has actual knowledge in the making of any payment required to be made with respect to the Certificates; (iii) at any time during the continuance of any such default, upon the written request of the Owner Trustee forthwith pay to the Owner Trustee on behalf of the Trust all sums so held in Trust by such Securities Administrator ; (iv) not resign from its position as Securities Administrator except that it shall immediately resign as Securities Administrator and forthwith pay to the Owner Trustee on behalf of the Trust all sums held by it in trust for the payment of Certificates if at any time it ceases to meet the standards under this Section 3.08 required to be met by the Securities Administrator at the time of its appointment; (v) comply with all requirements of the Code with respect to the withholding from any payments made by it on any Certificates of any applicable withholding taxes imposed thereon and with respect to any applicable reporting requirements in connection therewith; and (vi) not institute bankruptcy proceedings against the Issuing Entity in connection with this Trust Agreement. (b) The Trust may revoke such power and remove the Securities Administrator if it determines in its sole discretion that the Securities Administrator shall have failed to perform its obligations under this Trust Agreement in any material respect. In the event that Wxxxx Xxxxx Fargo Bank, N.A. shall no longer be the Securities Administrator under this Trust Agreement and under the Indenture, the Owner Trustee shall appoint a successor to act as Securities Administrator (which shall be a bank or trust company) and which shall also be the successor securities administrator under the Indenture. The Owner Trustee shall cause such successor securities administrator or any additional Securities Administrator appointed by the Owner Trustee to execute and deliver to the Owner Trustee an instrument to the effect set forth in Section 3.08(a) as it relates to the Securities Administrator . The Securities Administrator shall return all unclaimed funds to the Trust and upon removal of a Securities Administrator such Securities Administrator shall also return all funds in its possession to the Trust. The provisions of Sections 6.01, 6.04, 6.05, 6.06, 6.07, 6.08 and 7.01 shall apply to the Securities Administrator to the same extent applicable to the Owner Trustee except where the context requires otherwise. Any reference in this Agreement to the Securities Administrator shall include any co-paying agent unless the context requires otherwise. (c) The Securities Administrator shall establish and maintain with itself a trust account (the “Certificate Distribution Account”) in which the Securities Administrator shall deposit each remittance received by it with respect to payments made pursuant to the Indenture. The Securities Administrator shall make all distributions to Certificates, from moneys on deposit in the Certificate Distribution Account, in accordance with Section 5.01 hereof. The funds in the Certificate Distribution Account shall be held uninvested.