Common use of Seller May Own Securities Clause in Contracts

Seller May Own Securities. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Securities 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. Securities 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 Notes or Certificates, as the case may be.

Appears in 16 contracts

Samples: Sale and Servicing Agreement (Onyx Acceptance Financial Corp), Sale and Servicing Agreement (Onyx Acceptance Financial Corp), Sale and Servicing Agreement (Onyx Acceptance Financial Corp)

AutoNDA by SimpleDocs

Seller May Own Securities. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Securities with the same rights as it would have if it were not the such Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Securities so owned by or pledged to the Seller or such an Affiliate thereof shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority or distinction as among all of the Notes or Certificates, as the case may beNotes.

Appears in 15 contracts

Samples: Sale and Servicing Agreement (WFS Receivables Corp 3), Sale and Servicing Agreement (WFS Receivables Corp 2), Sale and Servicing Agreement (WFS Receivables Corp 3)

Seller May Own Securities. The Seller Seller, and any Affiliate thereof of the Seller, may in its individual or any other capacity become the owner or pledgee of Securities with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as otherwise expressly provided herein or in any the other Basic DocumentDocuments. Except as set forth herein or in the other Basic Documents, Securities so owned by or pledged to the Seller or any such Affiliate shall will have an equal and proportionate benefit under the provisions of this AgreementAgreement and the other Basic Documents, without preference, priority priority, or distinction as among all of the Notes or Certificates, as the case may beSecurities.

Appears in 7 contracts

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2005-B), Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC), Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC)

Seller May Own Securities. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Securities 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. Securities so owned by or pledged to the Seller or such an Affiliate thereof shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority or distinction as among all of the Notes or Certificates, as the case may beNotes.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (WFS Financial 2005-3 Owner Trust), Sale and Servicing Agreement (WFS Financial 2005-1 Owner Trust), Sale and Servicing Agreement (WFS Receivables Corp 3)

Seller May Own Securities. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Securities 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. Securities 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 Notes or Certificates, as the case may be.. ARTICLE SEVEN

Appears in 5 contracts

Samples: Sale and Servicing Agreement (WFS Receivables Corp), Sale and Servicing Agreement (WFS Financial Auto Loans Inc), Sale and Servicing Agreement (WFS Financial Auto Loans Inc)

AutoNDA by SimpleDocs

Seller May Own Securities. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Securities 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. Securities 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 Notes or Certificates, as the case may be.

Appears in 5 contracts

Samples: Sale and Servicing Agreement (First Merchants Acceptance Corp), Sale and Servicing Agreement (First Merchants Acceptance Corp), Sale and Servicing Agreement (First Merchants Acceptance Corp)

Seller May Own Securities. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Securities 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. Securities 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 Notes or Certificates, as the case may be.. ARTICLE VI

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Onyx Acceptance Financial Corp), Sale and Servicing Agreement (Onyx Acceptance Financial Corp)

Seller May Own Securities. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Securities 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 other Basic Document. Securities 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 Notes or Certificates, as the case may be.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Fleetwood Credit Receivables Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!