Common use of SELLER MAY OWN NOTES AND RESIDUAL INTEREST INSTRUMENTS Clause in Contracts

SELLER MAY OWN NOTES AND RESIDUAL INTEREST INSTRUMENTS. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Notes or Residual Interest Instruments with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Residual Interest Instruments 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 Classes of the Notes or Residual Interest Instruments, as the case may be.