Common use of Subsequent Transferors Clause in Contracts

Subsequent Transferors. The Transferor may designate any one of its Affiliates as a transferor of Receivables and, if applicable, interests in Other Floorplan Assets to be acquired by the Issuer (each such transferor, a "Subsequent Transferor") so long as (i) the Subsequent Transferor enters into a transfer and servicing agreement substantially similar to this Agreement and (ii) the designating Transferor directs the Owner Trustee to make the appropriate entries in its books and records to reflect such Subsequent Transferor's interest in the Transferor Interest; provided, however, that, before any such designation and direction, the Rating Agency Condition and the condition set forth in clause (iv) of Section 3.06(b) of the Trust Agreement have been satisfied.

Subsequent Transferors. The Transferor may designate any one of its Affiliates as a transferor of Transferred Receivables and, if applicable, interests and Interests in Other Floorplan Assets to be acquired by the Issuer (each such transferor, a "“Subsequent Transferor"”) so long as (i) the Subsequent Transferor enters into a transfer and servicing agreement substantially similar to this Agreement and (ii) the designating Transferor directs the Owner Trustee to make the appropriate entries in its books and records to reflect such Subsequent Transferor's ’s interest in the Transferor Interest; provided, however, that, before any such designation and direction, the Rating Agency Condition and the condition set forth in clause (iv) of Section 3.06(b) of the Trust Agreement have been satisfied.

Subsequent Transferors. The Transferor may designate any one of its Affiliates as a transferor of Transferred Receivables and, if applicable, interests and Interests in Other Floorplan Assets to be acquired by the Issuer (each such transferor, a "Subsequent Transferor") so long as (i) the Subsequent Transferor enters into a transfer and servicing agreement substantially similar to this Agreement and (ii) the designating Transferor directs the Owner Trustee to make the appropriate entries in its books and records to reflect such Subsequent Transferor's interest in the Transferor Interest; provided, however, that, before any such designation and direction, the Rating Agency Condition and the condition set forth in clause (iv) of Section 3.06(b) of the Trust Agreement have been satisfied.