Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 105 contracts
Samples: Trust Agreement (World Omni LT), Trust Agreement (World Omni LT), Trust Agreement (World Omni LT)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.01 or 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall shall, upon payment of its fees and expenses expenses, deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Servicer, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.03 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 97 contracts
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2024-B), Trust Agreement (Hyundai Auto Receivables Trust 2024-B), Trust Agreement (Hyundai Auto Receivables Trust 2024-A)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Trust Agreement, and thereupon thereupon, subject to the payment of all fees and expenses owed to the predecessor Owner Trustee, the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Trust Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall shall, upon payment of its fees and expenses expenses, deliver to the successor Owner Trustee all documents and documents, statements and monies held by it under this Trust Agreement, and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless 10.3 unless, at the time of such acceptance acceptance, such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Any successor Owner Trustee appointed pursuant to this Section 10.3 shall file an amendment to the Certificate of Trust with the Secretary of State reflecting the name and principal place of business of such successor in the State of Delaware. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator shall mail notice thereof of such appointment to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 72 contracts
Samples: Trust Agreement (CarMax Auto Owner Trust 2024-3), Trust Agreement (Carmax Auto Funding LLC), Trust Agreement (Carmax Auto Funding LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Trust Certificateholders, the Indenture Trustee, the Noteholders Administrative Agent and the Rating AgenciesNoteholders. If the Administrator shall fail to mail such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 62 contracts
Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2024-2), Trust Agreement (GM Financial Automobile Leasing Trust 2024-2), Trust Agreement (GM Financial Automobile Leasing Trust 2024-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 61 contracts
Samples: Trust Agreement (Chrysler Financial Auto Securitization Trust 2010-A), Trust Agreement (Chrysler Financial Auto Securitization Trust 2009-B), Trust Agreement (Chrysler Financial Auto Securitization Trust 2009-A)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 55 contracts
Samples: Trust Agreement (Drive Auto Receivables Trust 2021-3), Trust Agreement (Drive Auto Receivables Trust 2021-3), Trust Agreement (Drive Auto Receivables Trust 2021-2)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this AgreementAgreement and deliver to the Seller in writing and in form and substance reasonably satisfactory to the Seller, all information reasonably requested by the Seller in order to comply with its reporting obligation under the Exchange Act with respect to the successor Owner Trustee, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement and the Sale and Servicing Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders and shall make such notice available to the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee Depositor shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 46 contracts
Samples: Trust Agreement (Deere John Capital Corp), Trust Agreement (John Deere Receivables LLC), Trust Agreement (Deere John Capital Corp)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall shall, upon payment of its fees and expenses expenses, deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement; and the Transferor, and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Transferor shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, Trust Certificateholders and the Indenture Trustee, the Noteholders and the with respect to each Rating AgenciesAgency, shall make such notice available. If the Administrator Transferor shall fail to mail such notice or make such notice available within 10 Business Days ten days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee Administrator shall cause such notice to be mailed or made available, as applicable, at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActTransferor.
Appears in 41 contracts
Samples: Trust Agreement (BMW Vehicle Lease Trust 2024-1), Trust Agreement (BMW Vehicle Lease Trust 2024-1), Trust Agreement (BMW Vehicle Lease Trust 2023-2)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon thereupon, subject to the payment of all fees and expenses owed to the predecessor Owner Trustee, the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall shall, upon payment of its fees and expenses expenses, deliver to the successor Owner Trustee all documents and documents, statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless 10.3 unless, at the time of such acceptance acceptance, such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Any successor Owner Trustee appointed pursuant to this Section 10.3 shall file an amendment to the Certificate of Trust with the Secretary of State reflecting the name and principal place of business of such successor in the State of Delaware. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator shall mail notice thereof of such appointment to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 38 contracts
Samples: Trust Agreement (CarMax Auto Owner Trust 2015-4), Trust Agreement (CarMax Auto Owner Trust 2015-3), Trust Agreement (CarMax Auto Owner Trust 2015-2)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, Trustee without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall will mail notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 38 contracts
Samples: Trust Agreement (Toyota Auto Receivables 2017-C Owner Trust), Trust Agreement (Toyota Auto Receivables 2017-C Owner Trust), Trust Agreement (Toyota Auto Receivables 2017-B Owner Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this AgreementAgreement and deliver to the Transferor in writing and in form and substance reasonably satisfactory to the Transferor, all information reasonably requested by the Transferor in order to comply with its reporting obligations under the Exchange Act with respect to the successor Owner Trustee, and thereupon thereupon, subject to the payment of all fees and expenses owed to the predecessor Owner Trustee, the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Any successor Owner Trustee shall promptly file an amendment to the Certificate of Trust as required by the Delaware Statutory Trust Act. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholdersthe Rating Agencies, the Certificateholders and the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 38 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2023-A)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this AgreementAgreement and deliver to the Depositor in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its reporting obligations under the Exchange Act with respect to the successor Owner Trustee, and thereupon thereupon, subject to the payment of all fees and expenses owed to the predecessor Owner Trustee, the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, Agreement and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Any successor Owner Trustee shall promptly file an amendment to the Certificate of Trust as required by the Delaware Statutory Trust Act. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all the Depositor, the Certificateholders, the Indenture Trustee, the Noteholders Trustee and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days ten days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 38 contracts
Samples: Trust Agreement (Daimler Trucks Retail Trust 2024-1), Trust Agreement (Daimler Trucks Retail Trust 2024-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2024-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all Certificateholdersthe Residual Interestholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 36 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables LLC), Trust Agreement (Santander Drive Auto Receivables LLC), Trust Agreement (Santander Drive Auto Receivables Trust 2013-3)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator Administrator, and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholdersthe Certificateholder, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days ten days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 31 contracts
Samples: Trust Agreement (Harley-Davidson Motorcycle Trust 2005-4), Trust Agreement (Harley Davidson Motorcycle Trust 2004 1), Trust Agreement (Harley-Davidson Motorcycle Trust 2004-3)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail provide notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail provide such notice within 10 Business Days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 29 contracts
Samples: Trust Agreement (World Omni Auto Receivables Trust 2024-B), Trust Agreement (World Omni Auto Receivables Trust 2024-B), Trust Agreement (World Omni Auto Receivables Trust 2024-A)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, the all Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 21 contracts
Samples: Trust Agreement (Nissan Auto Receivables Corp Ii), Trust Agreement (Nissan Auto Receivables 2006-a Owner Trust), Trust Agreement (Nissan Auto Receivables 2009-1 Owner Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 18 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables LLC), Trust Agreement (Santander Drive Auto Receivables LLC), Trust Agreement (Santander Drive Auto Receivables LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and the principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 16 contracts
Samples: Trust Agreement (Capital One Prime Auto Receivables Trust 2023-2), Trust Agreement (Capital One Prime Auto Receivables Trust 2023-2), Trust Agreement (Capital One Prime Auto Receivables Trust 2023-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties, and obligations. The successor Owner Trustee shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligationsobligations to the successor Owner Trustee. To the extent not paid by the successor Owner Trustee, the Administrator shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail or otherwise provide notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders all Noteholders, and the Rating Agencies. If the Administrator shall fail fails to mail or otherwise provide such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed or otherwise provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 16 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2015-C Owner Trust), Trust Agreement (Nissan Auto Receivables 2015-C Owner Trust), Trust Agreement (Nissan Auto Receivables Corp Ii)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator Trust Depositor and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall shall, upon payment receipt of its fees fees, expenses and expenses indemnity due and owing to the Owner Trustee deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Trust Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholdersthe Equity Certificateholder, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorTrust Depositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.03 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 15 contracts
Samples: Trust Agreement (Cit Funding Co, LLC), Trust Agreement (NCT Funding Co LLC), Trust Agreement (NCT Funding Co LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 14 contracts
Samples: Trust Agreement (Chase Auto Owner Trust 2005-B), Trust Agreement (Chase Auto Owner Trust 2005-A), Trust Agreement (Chase Auto Owner Trust 2006-A)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties, and obligations. The successor Owner Trustee shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligationsobligations to the successor Owner Trustee. To the extent not paid by the successor Owner Trustee, the Administrator shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail or otherwise provide notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, the all Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail or otherwise provide such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed or otherwise provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 14 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2024-a Owner Trust), Trust Agreement (Nissan Auto Receivables 2024-a Owner Trust), Trust Agreement (Nissan Auto Receivables 2021-a Owner Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.01 or 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall shall, upon payment of its fees and expenses expenses, deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Servicer, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.03 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 14 contracts
Samples: Amended and Restated Trust Agreement (BMW Vehicle Owner Trust 2024-A), Trust Agreement (BMW Vehicle Owner Trust 2024-A), Amended and Restated Trust Agreement (BMW Vehicle Owner Trust 2023-A)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 12 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2022-7), Trust Agreement (Santander Drive Auto Receivables Trust 2022-7), Trust Agreement (Santander Drive Auto Receivables Trust 2022-6)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Transferor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Transferor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Transferor shall mail (or shall cause to be mailed) notice thereof of the successor of the Owner Trustee to all Certificateholdersthe Certificateholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Transferor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorTransferor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by identifying the Statutory Trust Actname and the principal place of business of such successor Owner Trustee in the State of Delaware.
Appears in 11 contracts
Samples: Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Vw Credit Leasing LTD)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all Certificateholdersthe Residual Interestholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActSeller.
Appears in 10 contracts
Samples: Trust Agreement (Capital One Prime Auto Receivables Trust 2006-2), Trust Agreement (Capital One Prime Auto Receivables Trust 2007-2), Trust Agreement (Capital One Prime Auto Receivables Trust 2006-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator Company and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and documents, statements and monies held by it under this Agreement, ; and the Administrator Company and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Company shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator Company shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActCompany.
Appears in 9 contracts
Samples: Trust Agreement (Goldman Sachs Asset Backed Securities Corp), Trust Agreement (Bond Securitization LLC), Trust Agreement (Bond Securitization LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 9 contracts
Samples: Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-3), Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-3), Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-2)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of the Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 8 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2024-3), Trust Agreement (Santander Drive Auto Receivables Trust 2024-3), Trust Agreement (Santander Drive Auto Receivables Trust 2024-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator Seller, the Servicer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Servicer shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator Servicer shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorServicer. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State of Delaware, identifying the name and address of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 8 contracts
Samples: Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator Depositor, the Indenture Trustee, the Note Insurer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner TrusteeTrustee (if acceptable to the Note Insurer), without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders Owners, the Note Insurer and the Rating Agencies. If the Administrator shall fail Depositor fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActDepositor.
Appears in 8 contracts
Samples: Trust Agreement (Bear Stearns Asset Backed Securities Inc), Owner Trust Agreement (Imc Home Equity Loan Owner Trust 1997-6), Trust Agreement (Imc Home Equity Loan Owner Trust 1997-8)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all Certificateholderseach Certificateholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 8 contracts
Samples: Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Usaa Acceptance LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and the principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 7 contracts
Samples: Trust Agreement (Capital One Auto Receivables LLC), Trust Agreement (Huntington Auto Trust 2016-1), Trust Agreement (Huntington Auto Trust 2016-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Transferor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Transferor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Transferor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all Certificateholdersthe Certificateholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Transferor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActTransferor.
Appears in 7 contracts
Samples: Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease Underwritten Funding LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall will mail notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 6 contracts
Samples: Trust Agreement (Toyota Auto Receivables 2010-C Owner Trust), Trust Agreement (Toyota Auto Receivables 2010-C Owner Trust), Trust Agreement (Toyota Auto Finance Receivables LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Transferor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Transferor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Transferor shall mail (or shall cause to be mailed) notice thereof of the successor of the Owner Trustee to all Certificateholdersthe Certificateholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Transferor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActTransferor.
Appears in 6 contracts
Samples: Trust Agreement (Volkswagen Auto Lease Trust 2015-A), Trust Agreement (Volkswagen Auto Lease Trust 2015-A), Trust Agreement (Vw Credit Leasing LTD)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 11.02 shall execute, acknowledge and deliver to the Administrator Issuing Entity, the Sponsor, the Indenture Trustee and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon thereupon, subject to the payment of all fees and expenses owed to the outgoing Owner Trustee, the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, Trustee without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies moneys held by it under this Agreement, ; and the Administrator Sponsor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0111.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 11.03, the Administrator Sponsor shall mail notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail Sponsor fails to mail such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSponsor. Any successor Owner Trustee appointed hereunder pursuant to this Section 11.03 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 6 contracts
Samples: Trust Agreement (Accredited Mortgage Loan REIT Trust), Trust Agreement (Accredited Mortgage Loan Trust 2006-2), Trust Agreement (Accredited Mortgage Loan REIT Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this AgreementAgreement and deliver to the Seller in writing and in form and substance reasonably satisfactory to the Seller, all information reasonably requested by the Seller in order to comply with its reporting obligation under the Exchange Act with respect to the successor Owner Trustee, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement and the Sale and Servicing Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 6 contracts
Samples: Trust Agreement (John Deere Owner Trust 2010), Trust Agreement (John Deere Owner Trust 2007), Trust Agreement (John Deere Owner Trust 2008)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 9.02 shall execute, acknowledge and deliver to the Administrator Transferor and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Transferor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 9.03 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.019.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 9.03, the Administrator Transferor shall mail notice thereof of such acceptance of appointment, including the name of such successor Owner Trustee to all CertificateholdersTransferor, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator Transferor shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorTransferor. Any Upon acceptance of appointment by a successor Owner Trustee appointed hereunder pursuant to this Section 9.03, such successor Owner Trustee shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by identifying the Statutory Trust Actname and principal place of business of such successor Owner Trustee in the State of Delaware.
Appears in 5 contracts
Samples: Trust Agreement (First National Funding LLC), Trust Agreement (First National Funding LLC), Trust Agreement (First National Master Note Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 9.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.019.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all Certificateholdersthe Certificateholder, the Indenture Trustee, the Noteholders and the Note Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed pursuant to this Section 9.3 shall be eligible to act as a trustee in accordance with Section 3807(a) of the Statutory Trust Act and, following compliance with this Section, shall become fully vested with the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 5 contracts
Samples: Trust Agreement (Chase Credit Card Master Trust), Trust Agreement (Chase Credit Card Master Trust), Trust Agreement (Chase Manhattan Bank Usa)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 11.02 shall execute, acknowledge and deliver to the Administrator Trust, the Sponsor, the Indenture Trustee and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon thereupon, subject to the payment of all fees and expenses owed to the outgoing Owner Trustee, the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, Trustee without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies moneys held by it under this Agreement, ; and the Administrator Sponsor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0111.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 11.03, the Administrator Sponsor shall mail notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail Sponsor fails to mail such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSponsor. Any successor Owner Trustee appointed hereunder pursuant to this Section 11.03 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 5 contracts
Samples: Trust Agreement (Accredited Mortgage Loan Trust 2004-3), Trust Agreement (Accredited Mortgage Loan REIT Trust), Trust Agreement (Accredited Mortgage Loan Trust 2005-2)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 5 contracts
Samples: Trust Agreement (Key Consumer Acceptance Corp), Trust Agreement (Key Consumer Acceptance Corp), Trust Agreement (M&i Dealer Auto Securitization LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 9.02 shall execute, acknowledge and deliver to the Administrator Transferor and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Transferor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.019.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Transferor shall mail notice thereof of such acceptance of appointment including the name of such successor Owner Trustee to all Certificateholdersthe Transferor, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator Transferor shall fail to mail such notice within 10 Business Days ten days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorTransferor. Any Upon acceptance of appointment by a successor Owner Trustee appointed hereunder pursuant to this Section, such successor Owner Trustee shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 4 contracts
Samples: Trust Agreement (Nordstrom Inc), Note Purchase Agreement (Bon Ton Stores Inc), Trust Agreement (Nordstrom Inc)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator Trust Depositor and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Trust Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholdersthe Equity Certificateholder, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorTrust Depositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.03 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 4 contracts
Samples: Trust Agreement (Gs Mortgage Securities Corp), Trust Agreement (Goldman Sachs Asset Backed Securities Corp), Trust Agreement (Ace Securities Corp)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator Depositor and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator Depositor shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActDepositor.
Appears in 4 contracts
Samples: Trust Agreement (Deutsche Recreational Asset Funding Corp), Trust Agreement (Deutsche Recreational Asset Funding Corp), Trust Agreement (Deutsche Recreational Asset Funding Corp)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 9.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.019.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of such to all Certificateholdersthe Beneficiary, the Transferor, the Indenture Trustee, each Collateral Agent, the Noteholders and the each Note Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any Upon acceptance of appointment by a successor Owner Trustee appointed hereunder pursuant to this Section such successor Owner Trustee shall promptly file an amendment to the Certificate of Trust with the Secretary of State reflecting the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 4 contracts
Samples: Trust Agreement (Chase Card Funding LLC), Trust Agreement (Chase Issuance Trust), Trust Agreement (Chase Issuance Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 9.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 9.03 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.019.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of such to all Certificateholdersthe Beneficiary, the Transferor, the Indenture Trustee, each Collateral Agent, the Noteholders and the each Note Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any Upon acceptance of appointment by a successor Owner Trustee appointed hereunder pursuant to this Section such successor Owner Trustee shall promptly file an amendment to the Certificate of Trust with the Secretary of State reflecting the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 4 contracts
Samples: Trust Agreement (First Usa Credit Card Master Trust), Trust Agreement (Chase Manhattan Bank Usa), Trust Agreement (Bank One Delaware National Association)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all Certificateholderseach Certificateholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to Section 10.2 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and the principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 4 contracts
Samples: Trust Agreement (Fifth Third Holdings Funding, LLC), Trust Agreement (Fifth Third Auto Trust 2015-1), Trust Agreement (Fifth Third Auto Trust 2014-3)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 11.2 shall execute, acknowledge and deliver to the Administrator Indenture Trustee, the Insurer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner TrusteeTrustee (if acceptable to the Insurer), without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Indenture Trustee and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 11.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0111.1 above. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 11.3, the Administrator Indenture Trustee shall mail notice thereof of the successor of such Owner Trustee to all Certificateholdersthe Transferor, the Indenture TrusteeNoteholders, the Noteholders Insurer and the Rating Agencies. If the Administrator shall fail Indenture Trustee fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActIndenture Trustee.
Appears in 4 contracts
Samples: Trust Agreement (Chec Funding LLC), Trust Agreement (Renaissance Mortgage Acceptance Corp), Trust Agreement (Renaissance Mortgage Acceptance Corp)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator Administrator, and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all the Certificateholders, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days ten days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 4 contracts
Samples: Trust Agreement (Harley-Davidson Motorcycle Trust 2009-2), Trust Agreement (Harley Davidson Customer Funding Corp), Trust Agreement (Harley-Davidson Motorcycle Trust 2009-4)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall shall, upon payment of amounts owing to it in its fees and expenses individual capacity, deliver to the successor Owner Trustee all documents and documents, statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless 10.3 unless, at the time of such acceptance acceptance, such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Any successor Owner Trustee appointed pursuant to this Section 10.3 shall file an amendment to the Certificate of Trust with the Secretary of State reflecting the name and principal place of business of such successor in the State of Delaware. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator shall mail notice thereof of such appointment to all Certificateholdersthe Depositor, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 4 contracts
Samples: Trust Agreement (First Investors Financial Services Group Inc), Trust Agreement (First Investors Financial Services Group Inc), Trust Agreement (First Investors Financial Services Group Inc)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all Certificateholderseach Certificateholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to Section 10.2 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and the principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 4 contracts
Samples: Trust Agreement (Fifth Third Holdings Funding, LLC), Trust Agreement (Fifth Third Auto Trust 2014-1), Trust Agreement (Fifth Third Auto Trust 2013-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of the Owner Trustee to all Certificateholdersthe Certificateholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and the principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 4 contracts
Samples: Trust Agreement (Volkswagen Auto Loan Enhanced Trust 2012-2), Trust Agreement (Volkswagen Auto Loan Enhanced Trust 2012-2), Trust Agreement (Volkswagen Auto Loan Enhanced Trust 2012-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties, and obligations. The successor Owner Trustee shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligationsobligations to the successor Owner Trustee. To the extent not paid by the successor Owner Trustee, the Administrator shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail or otherwise provide notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, all Noteholders[, the Noteholders [Swap Counterparty][Cap Provider]] and the Rating Agencies. If the Administrator shall fail fails to mail or otherwise provide such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed or otherwise provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 4 contracts
Samples: Trust Agreement (NISSAN AUTO RECEIVABLES Co II LLC), Trust Agreement (Nissan Auto Receivables Corp Ii), Trust Agreement (Nissan Auto Receivables Corp Ii)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon thereupon, subject to the payment of all fees and expenses owed to the predecessor Owner Trustee, the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, Agreement and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Any successor Owner Trustee appointed pursuant to this Section shall file an amendment to the Certificate of Trust with the Secretary of State reflecting the name and principal place of business of such successor in the State of Delaware. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days ten days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 4 contracts
Samples: Trust Agreement (Pooled Auto Securities Shelf LLC), Trust Agreement (Wachovia Auto Owner Trust 2005-B), Trust Agreement (Wachovia Auto Owner Trust 2005-A)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator Depositor, the Indenture Trustee, the Note Insurer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner TrusteeTrustee (if acceptable to the Note Insurer), without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies moneys held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders Trust Paying Agent, the Noteholders, the Note Insurer and the Rating Agencies. If the Administrator shall fail Depositor fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.2 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 3 contracts
Samples: Deposit Trust Agreement (Residential Asset Funding Corp), Deposit Trust Agreement (Prudential Securities Secured Financing Corp), Deposit Trust Agreement (Residential Asset Funding Corp)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge acknowledge, and deliver to the Administrator Servicer, the Depositor, the Indenture Trustee, the Note Insurer, and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner TrusteeTrustee (if acceptable to the Note Insurer), without any further act, deed deed, or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies moneys held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Servicer shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders Trust Paying Agent, the Noteholders, the Note Insurer and the Rating Agencies. If the Administrator shall fail Servicer fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActDepositor.
Appears in 3 contracts
Samples: Deposit Trust Agreement (Ocwen Mortgage Loan Trust Ass Back Notes Ser 1998-Oac1/), Deposit Trust Agreement (Financial Asset Securities Corp), Deposit Trust Agreement (Ocwen Mortgage Loan Trust Ass Back Notes Ser 1998-Oac1/)
Successor Owner Trustee. Any successor Owner Trustee ----------------------- appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator ------------ Administrator[, the Securities Insurer] and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner TrusteeTrustee [(if acceptable to the Securities Insurer)], without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. ------------ Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all CertificateholdersOwners, the Indenture Trustee, the Noteholders Noteholders[, the Securities Insurer] and the Rating Agencies. If the Administrator shall fail fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 3 contracts
Samples: Owner Trust Agreement (National Mortgage Securities Corp), Owner Trust Agreement (Southpoint Residential Mortgage Securities Corp), Owner Trust Agreement (Fremont Mortgage Securities Corp)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, all Noteholders, the Noteholders Swap Counterparty and the Rating Agencies. If the Administrator shall fail fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 3 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2008-C Owner Trust), Trust Agreement (Nissan Auto Receivables Corp Ii), Trust Agreement (Nissan Auto Receivables Corp Ii)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders Noteholders[, the Swap Counterparty] and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 3 contracts
Samples: Trust Agreement (World Omni LT), Trust Agreement (World Omni LT), Trust Agreement (World Omni LT)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator Depositor and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator Depositor shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administratormailed. Any The successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business in the State of Delaware as required by the Statutory Trust Actof such successor Owner Trustee.
Appears in 3 contracts
Samples: Trust Agreement (Northwest Airlines Inc /Mn), Trust Agreement (Northwest Airlines Inc /Mn), Trust Agreement (Northwest Airlines Inc /Mn)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator Administrator, and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days ten days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 3 contracts
Samples: Trust Agreement (Eaglemark Inc), Trust Agreement (Harley Davidson Customer Funding Corp), Authority And (Eaglemark Inc)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor and the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all Certificateholdersthe Certificateholder, the Indenture Trustee, the Servicer, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 3 contracts
Samples: Trust Agreement (Bank of America Auto Trust 2010-2), Trust Agreement (Bank of America Auto Trust 2010-2), Trust Agreement (Bank of America Auto Receivables Securitization, LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator Seller, the Indenture Trustee, the Note Insurer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner TrusteeTrustee (if acceptable to the Note Insurer), without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Seller shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders Owners, the Note Insurer and the Rating Agencies. If the Administrator shall fail Seller fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActSeller.
Appears in 3 contracts
Samples: Trust Agreement (First Alliance Mortgage Co /De/), Trust Agreement (First Alliance Mortgage Loan Trust 1998-1f), Trust Agreement (First Alliance Mortgage Loan Trust 1998-1a)
Successor Owner Trustee. Any successor Owner Trustee Trustee, appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, Trustee without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, Agreement and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days ten days after acceptance of such appointment by the successor Owner Trustee, Trustee the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 3 contracts
Samples: Trust Agreement (Honda Auto Receivables 2005-5 Owner Trust), Trust Agreement (Honda Auto Receivables 2005-3 Owner Trust), Trust Agreement (Honda Auto Receivables 2005-4 Owner Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall shall, upon payment of its fees and expenses expenses, deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, Agreement and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days ten days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 3 contracts
Samples: Trust Agreement (Honda Auto Receivables 2008-2 Owner Trust), Trust Agreement (Honda Auto Receivables 2009-1 Owner Trust), Trust Agreement (Honda Auto Receivables 2008-1 Owner Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 11.02 shall execute, acknowledge and deliver to the Administrator Issuing Entity, the Depositor, the Indenture Trustee and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon thereupon, subject to the payment of all fees and expenses owed to the outgoing Owner Trustee, the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, Trustee without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies moneys held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0111.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 11.03, the Administrator Depositor shall mail notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail Depositor fails to mail such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 11.03 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 3 contracts
Samples: Trust Agreement (NovaStar Mortgage Funding Trust, Series 2006-1), Trust Agreement (NovaStar Certificates Financing CORP), Trust Agreement (NovaStar Certificates Financing CORP)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator Administrator, [the Securities Insurer] and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner TrusteeTrustee [(if acceptable to the Securities Insurer)], without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all CertificateholdersOwners, the Indenture Trustee, the Noteholders Noteholders, [the Securities Insurer] and the Rating Agencies. If the Administrator shall fail fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 3 contracts
Samples: Owner Trust Agreement (Hsi Asset Securitization Corp), Trust Agreement (Hsi Asset Securitization Corp), Trust Agreement (Preferred Securitization Corp)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 9.02 shall execute, acknowledge and deliver to the Administrator and the Insurer (so long as the Class A Notes are Outstanding or any Reimbursement Amounts remain due and owing to the Insurer) and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, Trustee without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.019.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Insurer (so long as the Class A Notes are Outstanding or any Reimbursement Amounts remain due and owing to the Insurer), the Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 3 contracts
Samples: Trust Agreement (Indymac MBS Inc), Trust Agreement (IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-H2), Trust Agreement (Indymac MBS Inc)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 11.02 shall execute, acknowledge and deliver to the Administrator Issuing Entity, the Sponsor, the Indenture Trustee, the Note Insurer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon thereupon, subject to the payment of all fees and expenses owed to the outgoing Owner Trustee, the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner TrusteeTrustee (if acceptable to the Note Insurer), without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies moneys held by it under this Agreement, ; and the Administrator Sponsor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0111.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 11.03, the Administrator Sponsor shall mail notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders Noteholders, the Note Insurer and the Rating Agencies. If the Administrator shall fail Sponsor fails to mail such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSponsor. Any successor Owner Trustee appointed hereunder pursuant to this Section 11.03 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 3 contracts
Samples: Trust Agreement (NovaStar Certificates Financing CORP), Trust Agreement (NovaStar Certificates Financing LLC), Trust Agreement (Accredited Mortgage Loan REIT Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 9.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyanceconvey- ance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.019.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all Certificateholdersthe Certificateholder, the Indenture Trustee, the Noteholders and the Note Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed pursuant to this Section 9.3 shall be eligible to act as a trustee in accordance with Section 3807(a) of the Statutory Trust Act and, following compliance with this Section, shall become fully vested with the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 3 contracts
Samples: Trust Agreement (Chase Credit Card Owner Trust 2004-2), Trust Agreement (Chase Credit Card Master Trust), Trust Agreement (Chase Credit Card Master Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor and the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Servicer, the Noteholders and the Rating AgenciesIssuer. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 3 contracts
Samples: Trust Agreement (Bank of America Auto Receivables Securitization, LLC), Trust Agreement (Bank of America Auto Trust 2012-1), Trust Agreement (Bank of America Auto Trust 2012-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of the Owner Trustee to all Certificateholdersthe Certificateholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Seller Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by identifying the Statutory Trust Actname and the principal place of business of such successor Owner Trustee in the State of Delaware.
Appears in 3 contracts
Samples: Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. The successor Owner Trustee shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. To the extent not paid by the successor Owner Trustee, the Administrator shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. 28 (NAROT 2020-B Amended & Restated Trust Agreement) No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail or otherwise provide notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, the all Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail or otherwise provide such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed or otherwise provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Receivables Corp Ii), Trust Agreement (Nissan Auto Receivables Corp Ii)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the 708333927 14443670 18 Amended and Restated Trust Agreement (USAA 2014-1) successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all Certificateholderseach Certificateholder, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActDepositor.
Appears in 2 contracts
Samples: Trust Agreement (USAA Auto Owner Trust 2014-1), Trust Agreement (Usaa Acceptance LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties, and obligations. The successor Owner Trustee shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligationsobligations to the successor Owner Trustee. To the extent not paid by the successor Owner Trustee, the Administrator shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail or otherwise provide notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders all Noteholders, and the Rating Agencies. If the Administrator shall fail fails to mail or otherwise provide such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed or otherwise provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of 28 (Nissan 2011-B Amended & Restated Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2011-B Owner Trust), Trust Agreement (Nissan Auto Receivables 2011-B Owner Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its 39 Amended and Restated Trust Agreement (SDART 2021-4) predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2021-4), Trust Agreement (Santander Drive Auto Receivables Trust 2021-4)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days ten (10) days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and the principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement, Trust Agreement
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall 37 Amended and Restated Trust Agreement (SDART 2017-3) cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables LLC), Trust Agreement (Santander Drive Auto Receivables LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders [, the Swap Counterparty] and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 2 contracts
Samples: Trust Agreement (World Omni Auto Leasing LLC), Trust Agreement (World Omni Auto Leasing LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee Trustee, an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses expenses, deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, Agreement and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the each Rating AgenciesAgency. If the Administrator shall fail to mail such notice within 10 Business Days ten days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 2 contracts
Samples: Trust Agreement (American Honda Receivables Corp), Trust Agreement (Honda Auto Receivables 2006-2 Owner Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the each Indenture Trustee, the Noteholders of each Series and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 2 contracts
Samples: Trust Agreement (Daimlerchrysler Services North America LLC), Trust Agreement (Daimlerchrysler Services North America LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this AgreementAgreement and deliver to the Seller in writing and in form and substance reasonably satisfactory to the Seller, all information reasonably requested by the Seller in order to comply with its reporting obligation under the Exchange Act with respect to the successor Owner Trustee, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement and the Sale and Servicing Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders and shall make such notice available to the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee Depositor shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate Table of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.Contents
Appears in 2 contracts
Samples: Trust Agreement (John Deere Owner Trust 2020-B), Trust Agreement (John Deere Owner Trust 2020-B)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. 39 Amended and Restated Trust Agreement (SDART 2019-3) Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2019-3), Trust Agreement (Santander Drive Auto Receivables Trust 2019-3)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its 39 Amended and Restated Trust Agreement (SDART 2021-2) predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2021-2), Trust Agreement (Santander Drive Auto Receivables Trust 2021-2)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge acknowledge, and deliver to the Administrator Company, the Indenture Trustee, the Bond Insurer, and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner TrusteeTrustee (if acceptable to the Bond Insurer), without any further act, deed deed, or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies moneys held by it under this Agreement, ; and the Administrator Company and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Company shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders Trust Paying Agent, the Bondholders, the Bond Insurer and the Rating Agencies. If the Administrator shall fail Company fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActCompany.
Appears in 2 contracts
Samples: Deposit Trust Agreement (Residential Resources Inc), Deposit Trust Agreement (Union Planters Mortgage Finance Corp)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its 37 Second Amended and Restated Trust Agreement (SDART 2018-1) predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables LLC), Trust Agreement (Santander Drive Auto Receivables LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. The successor Owner Trustee shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. To the extent not paid by the successor Owner Trustee, the Administrator shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. 28 (NAROT 2022-B Amended & Restated Trust Agreement) No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail or otherwise provide notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, the all Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail or otherwise provide such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed or otherwise provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2022-B Owner Trust), Trust Agreement (NISSAN AUTO RECEIVABLES Co II LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its 39 Amended and Restated Trust Agreement (SDART 2023-1) predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Depositor shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Depositor shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2023-1), Trust Agreement (Santander Drive Auto Receivables Trust 2023-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Administrator Indenture Trustee[, the Insurer] and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner TrusteeTrustee [(if acceptable to the Insurer)], without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Indenture Trustee and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1 above. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Indenture Trustee shall mail notice thereof of the successor of such Owner Trustee to all Certificateholdersthe Transferor, the Indenture TrusteeNoteholders[, the Noteholders Insurer] and the Rating Agencies. If the Administrator shall fail Indenture Trustee fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust ActIndenture Trustee.
Appears in 2 contracts
Samples: Trust Agreement (Household Mortgage Funding Corp Iii), Trust Agreement (HFC Revolving Corp)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 9.02 shall execute, acknowledge and deliver to the Administrator and the Insurer (so long as the Class A Notes are Outstanding or any Reimbursement Amounts remain due and owing to the Insurer and no Insurer Default has occurred and is continuing) and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, Trustee without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.019.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Insurer (so long as the Class A Notes are Outstanding or any Reimbursement Amounts remain due and owing to the Insurer and no Insurer Default has occurred and is continuing), the Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (Greenpoint Mortgage Funding Trust 2005-He3), Sale and Servicing Agreement (IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-H1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties, and obligations. The successor Owner Trustee shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligationsobligations to the successor Owner Trustee. To the extent not paid by the successor Owner Trustee, the Administrator shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail or otherwise provide notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, the all Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail or otherwise provide such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed or otherwise provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of 27 (Nissan 2016-B Amended & Restated Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2016-B Owner Trust), Trust Agreement (Nissan Auto Receivables 2016-B Owner Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. 39 Amended and Restated Trust Agreement (SDART 2019-1) Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2019-1), Trust Agreement (Santander Drive Auto Receivables Trust 2019-1)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties, and obligations. The successor Owner Trustee shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligationsobligations to the successor Owner Trustee. To the extent not paid by the successor Owner Trustee, the Administrator shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail or otherwise provide notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, the all Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail or otherwise provide such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed or otherwise provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of (NAROT 2018-A Amended & Restated Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2018-a Owner Trust), Trust Agreement (Nissan Auto Receivables 2018-a Owner Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator Beneficiary and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Beneficiary and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator Beneficiary shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator Beneficiary shall fail to mail such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administratormailed. Any The successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and principal place of business in the State of Delaware as required by the Statutory Trust Actof such successor Owner Trustee.
Appears in 2 contracts
Samples: Trust Agreement (Northwest Airlines Corp), Trust Agreement (Northwest Airlines Inc /Mn)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other 28 (NAROT 2018-C Amended & Restated Trust Agreement) things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties, and obligations. The successor Owner Trustee shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligationsobligations to the successor Owner Trustee. To the extent not paid by the successor Owner Trustee, the Administrator shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail or otherwise provide notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, the all Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail or otherwise provide such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed or otherwise provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2018-C Owner Trust), Trust Agreement (Nissan Auto Receivables 2018-C Owner Trust)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties duties, and obligations. The successor Owner Trustee shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. To the extent not paid by the successor Owner Trustee, the Administrator shall pay all reasonable costs and expenses incurred in connection with transferring the predecessor Owner Trustee’s duties and obligations to the successor Owner Trustee. 28 (NAROT 2023-A Amended & Restated Trust Agreement) No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to meet the criteria for eligibility set forth in Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail or otherwise provide notice thereof of the successor of the Owner Trustee to all Certificateholders, the Indenture Trustee, the all Noteholders and the Rating Agencies. If the Administrator shall fail fails to mail or otherwise provide such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed or otherwise provided at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.
Appears in 2 contracts
Samples: Trust Agreement (NISSAN AUTO RECEIVABLES Co II LLC), Trust Agreement (NISSAN AUTO RECEIVABLES Co II LLC)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its 39 Amended and Restated Trust Agreement (SDART 2021-3) predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2021-3), Trust Agreement (Santander Drive Auto Receivables Trust 2021-3)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. 39 Amended and Restated Trust Agreement (SDART 2020-2) Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2020-2), Trust Agreement (Santander Drive Auto Receivables Trust 2020-2)
Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.02 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, ; and the Administrator Seller and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.0110.1. 39 Amended and Restated Trust Agreement (SDART 2019-2) Upon written acceptance of appointment by a successor Owner Trustee pursuant to this SectionSection 10.3, the Administrator Seller shall mail (or shall cause to be mailed) notice thereof of the successor of such Owner Trustee to all the Certificateholders, the Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Administrator Seller shall fail to mail (or cause to be mailed) such notice within 10 Business Days days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the AdministratorSeller. Any successor Owner Trustee appointed hereunder pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust with the Delaware Secretary of State identifying the name and principal place of business of such successor Owner Trustee in the State of Delaware as required by the Statutory Trust ActDelaware.
Appears in 2 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2019-2), Trust Agreement (Santander Drive Auto Receivables Trust 2019-2)