Common use of Securitization Arrangements Clause in Contracts

Securitization Arrangements. GM and GMAC shall use commercially reasonable efforts either (i) to restructure current secured financing arrangements between any GM Entity, on the one hand, and any GMAC Entity, on the other hand, that are not able to be securitized by a GMAC Entity to the extent that such restructuring is reasonably practicable and may be achieved without impeding any GM Entity’s ability to sell vehicles, for the purpose of enabling each applicable GMAC Entity to securitize its exposures related thereto or (ii) to identify alternative third-party sources of financing to replace the GMAC Entities with respect to such secured financing arrangements that are not able to be securitized by a GMAC Entity; provided that, if such restructuring is not at any time achieved and such third-party financing is not at any time obtained, such fact shall not be deemed to be a violation of this Section 6 or any other provision of this Agreement.

Securitization Arrangements. GM and GMAC shall use commercially reasonable efforts either (i) to restructure current secured financing arrangements between any GM Entity, on the one hand, and any GMAC Entity, on the other hand, that are not able to be securitized by a GMAC Entity to the extent that such restructuring is reasonably practicable and may be achieved without impeding any GM Entity’s ability to sell vehicles, for the purpose of enabling each applicable GMAC Entity to securitize its exposures related thereto or (ii) to identify alternative third-party sources of financing to replace the GMAC Entities with respect to such secured financing arrangements that are not able to be securitized by a GMAC Entity; provided that, if such restructuring is not at any time achieved and such third-party financing is not at any time obtained, such fact shall not be deemed to be a violation of this Section 6 or any other provision of this Agreement.. [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission