Servicer May Own Certificates. Servicer, and any Affiliate of Servicer, 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 Servicer or an Affiliate thereof, except as otherwise provided in the definition of "Holder", "Class A Holder" and "Class B Holder" in Section 1.1. Certificates so owned by or pledged to Servicer 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, except as otherwise provided in the definitions of "Class A Holder" and "Class B Holder".
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (Bas Securitization LLC), Pooling and Servicing Agreement (Volkswagen Public Auto Loan Securitization LLC), Pooling and Servicing Agreement (Bas Securitization LLC)
Servicer May Own Certificates. Servicer, and any Affiliate of Servicer, 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 Servicer or an Affiliate thereof, except as otherwise provided in the definition of "“Holder"”, "“Class A Holder" ” and "“Class B Holder" ” in Section 1.1. Certificates so owned by or pledged to Servicer 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, except as otherwise provided in the definitions of "“Class A Holder" ” and "“Class B Holder"”.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Usaa Acceptance LLC), Pooling and Servicing Agreement (Bas Securitization LLC), Pooling and Servicing Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
