Common use of Seller May Own Certificates Clause in Contracts

Seller May Own Certificates. The Seller and any Affiliate of the Seller may in its individual or any other capacity become the owner or pledgee of Certificates with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as otherwise provided in the definition of "Certificateholder" in Section 1.01. Certificates so owned by or pledged to the Seller or such Affiliate shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority or distinction as among all of the Certificates, other than with respect to Voting Interests. Notwithstanding the foregoing, the Seller will not, and will not permit any of their Affiliates (or any Person acting on behalf of the Seller or any such Affiliate) to directly or indirectly acquire or make any offer to acquire any Certificates unless the Seller or such Affiliate (or such Person acting on behalf thereof) shall have offered to acquire Certificates, pro rata, from all Holders and upon the same terms.

Appears in 4 contracts

Samples: Master Trust Agreement (Aegis Consumer Funding Group Inc), Master Trust Agreement (Aegis Consumer Funding Group Inc), Pooling and Servicing Agreement (Aegis Consumer Funding Group Inc)

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