Common use of Transferor May Own Certificates or Notes Clause in Contracts

Transferor May Own Certificates or Notes. The Transferor and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Certificates or Notes with the same rights as it would have if it were not the Transferor or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Transferor or such Affiliate shall have an equal and proportionate benefit under the provisions of the Basic Documents, without preference, priority, or distinction as among all of the Notes or Certificates, provided, however, that any Notes or Certificates owned by the Transferor or any Affiliate thereof, during the time such Notes or Certificates are owned by them, shall be without voting rights for any purpose set forth in the Basic Documents and will not be entitled to the benefits of the Policy. The Transferor shall notify the Owner Trustee, the Indenture Trustee and the Insurer promptly after it or any of its Affiliates become the owner of a Certificate or a Note.

Transferor May Own Certificates or Notes. The Transferor ---------------------------------------- and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Certificates or Notes with the same rights as it would have if it were not the Transferor or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Transferor or such Affiliate shall have an equal and proportionate benefit under the provisions of the Basic Documents, without preference, priority, or distinction as among all of the Notes or Certificates, provided, however, that any Notes or Certificates owned by the Transferor or any Affiliate thereof, during the time such Notes or Certificates are owned by them, shall be without voting rights for any purpose set forth in the Basic Documents and will not be entitled to the benefits of the Policy. The Transferor shall notify the Owner Trustee, the Indenture Trustee and the Insurer promptly after it or any of its Affiliates become the owner of a Certificate or a Note.

Transferor May Own Certificates or Notes. The Transferor and ---------------------------------------- any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Certificates or Notes with the same rights as it would have if it were not the Transferor or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Transferor or such Affiliate shall have an equal and proportionate benefit under the provisions of the Basic Documents, without preference, priority, or distinction as among all of the Notes or Certificates, provided, however, that any Notes or Certificates owned by the Transferor or any Affiliate thereof, during the time such Notes or Certificates are owned by them, shall be without voting rights for any purpose set forth in the Basic Documents and will not be entitled to the benefits of the Policy. The Transferor shall notify the Owner Trustee, the Indenture Trustee and the Insurer promptly after it or any of its Affiliates become the owner of a Certificate or a Note.