AART Transaction Documents definition
Examples of AART Transaction Documents in a sentence
It is understood and agreed that the obligation of the Seller to repurchase any Secured Note as to which a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Seller under the AART Transaction Documents for such breach available to Ally Auto or any Interested Party.
Each Certificateholder by the acceptance of a Certificate (or beneficial interest therein) agrees that except as expressly provided in the AART Transaction Documents, in the event of nonpayment of any amounts with respect to the Certificates, it shall have no claim against any of the foregoing Persons for any deficiency, loss or claim therefrom.
Indication of the Issuing Entity’s ownership of a Secured Note shall be deleted from or modified on the Administrator’s computer systems when, and only when, the Secured Note has been paid in full or repurchased by the Depositor or purchased by the Administrator in accordance with the terms of the AART Transaction Documents.
The AART Owner Trustee also agrees to disburse all monies actually received by it constituting part of the AART Owner Trust Estate upon the terms of the AART Transaction Documents.
The AART Owner Trustee shall furnish to the Certificateholders, promptly upon receipt of a written request therefor, duplicates or copies of all reports, notices, requests, demands, certificates, financial statements and any other instruments furnished to the AART Owner Trustee under the AART Transaction Documents.
The AART Owner Trustee is further authorized from time to time to take such action as the Administrator recommends and directs in writing with respect to the AART Transaction Documents.
The AART Owner Trustee shall maintain in the Borough of Manhattan, The City of New York, an office or offices or agency or agencies where Certificates may be surrendered for registration of transfer or exchange and where notices and demands to or upon the AART Owner Trustee in respect of the Certificates and the other AART Transaction Documents may be served.
The AART Owner Trustee shall not have the power, except upon the written direction of the Certificateholders, to remove the Administrator under the Administration Agreement pursuant to Section 7.02 thereof, appoint a successor Administrator under the Administration Agreement or except as expressly provided in the AART Transaction Documents, sell the Secured Notes or any interest therein after the termination of the AART Indenture.
In addition to the foregoing, the AART Owner Trustee is authorized, but shall not be obligated, to take all actions required of the Trust pursuant to the AART Transaction Documents.
The Issuing Entity shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any indebtedness for money borrowed other than indebtedness for money borrowed in respect of the Notes or otherwise in accordance with the AART Transaction Documents.