Seller May Own Certificates or Notes. The Seller and any Affiliate of the Seller 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 Seller or an Affiliate thereof, except as otherwise provided in the Basic Documents. Certificates or Notes so owned by or pledged to the Seller or such controlling or commonly controlled Person shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority or distinction as among all of the Certificates or the Notes, as the case may be, except as otherwise expressly provided in the Basic Documents.
Seller May Own Certificates or Notes. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Certificates or the Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as expressly provided herein or in any other Basic Document. Notwithstanding the foregoing, the Seller shall not sell the Certificates except to an entity (a) that has provided an opinion of counsel to the effect that such sale will not cause the Trust to be treated as a “publicly traded partnership” under the Code and (b) that either (i) is not an Affiliate of the Seller or (ii) is an Affiliate of the Seller that (A) is a subsidiary of CNHCA or NH Credit, the certificate of formation and limited liability company agreement of which contains restrictions substantially similar to the restrictions contained in the certificate of formation and limited liability company agreement of the Seller and (B) has provided an Opinion of Counsel regarding substantive consolidation of such Affiliate with CNHCA or NH Credit in the event of a bankruptcy filing by CNHCA or NH Credit, as applicable, which is substantially similar to the Opinion of Counsel provided by Seller on the Closing Date, and which may be subject to the same assumptions and qualifications as that opinion.
Seller May Own Certificates or Notes. The Seller 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 Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Seller 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, except in the event that all outstanding Notes and Certificates are owned by the Seller and/or any Affiliates thereof, that any Notes or Certificates owned by the Seller 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. The Seller shall notify the Owner Trustee, the Indenture Trustee and the Administrator promptly after it or any of its Affiliates become the owner or pledgee of a Certificate or a Note.
Seller May Own Certificates or Notes. The Seller 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 Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document.
Seller May Own Certificates or Notes. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Certificates or the Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as expressly provided herein or in any other Basic Document. Notwithstanding the foregoing, the Seller will not sell the Certificates except to an entity (a) that has provided an opinion of counsel to the effect that such sale will not cause the Trust to be treated as a "publicly traded partnership" under the Code and (b) that either (i) is not an Affiliate of the Seller or (ii) is an Affiliate of the Seller that (A) is a subsidiary of Credit, the Certificate of Incorporation of which contains restrictions substantially similar to the restrictions contained in the Certificate of Incorporation of the Seller and (B) has provided an opinion of counsel regarding substantive consolidation of such Affiliate with Credit in the event of a bankruptcy filing by Credit which is substantially similar to the opinion of counsel provided by Seller on the Closing Date, and which may be subject to the same assumptions and qualifications as that opinion.
Seller May Own Certificates or Notes. The Seller 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 Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Seller 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, except in the event that all outstanding Notes and Certificates are owned by the Seller and/or any Affiliate thereof, that any Notes or Certificates owned by the Seller 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 any such Notes will not be entitled to the benefits of any financial guaranty insurance policy. The Seller shall notify the Owner Trustee and the Trustee promptly after it or any of its Affiliates become the owner or pledgee of a Certificate or a Note.
Seller May Own Certificates or Notes. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Certificates or the Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as expressly provided herein or in any other Basic Document. Notwithstanding the foregoing, the Seller will not sell the Certificates except (a) to an entity that is not an Affiliate of the Seller or (b) to an Affiliate of the Seller that (i) is a subsidiary of Credit, the Certificate of Incorporation of which contains restrictions substantially similar to the restrictions contained in the Certificate of Incorporation of the Seller and (ii) has provided an opinion of counsel regarding substantive consolidation of such Affiliate with Credit in the event of a bankruptcy filing by Credit which is substantially similar to the opinion of counsel provided by Seller on the Closing Date, and which may be subject to the same assumptions and qualifications as that opinion.
Seller May Own Certificates or Notes. The Seller 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 Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Seller 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, (i) except in the event that all outstanding Notes and Certificates are owned by the Seller and/or any Affiliates thereof, that any Notes or Certificates owned by the Seller 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 (ii) any Notes or Certificates owned by the Seller or any Affiliate thereof, during the time such Notes or Certificates are owned by them, will not be entitled to the benefits of the Note Policy. The Seller shall notify the Owner Trustee, the Insurer and the Indenture Trustee promptly after it or any of its Affiliates become the owner or pledgee of a Certificate or a Note.
Seller May Own Certificates or Notes. The Seller and any Affiliate (other than CFSC) 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 Seller or an Affiliate thereof, except as expressly provided herein (including, without limitation, the definition of "Outstanding" contained in each of the Indenture and the Trust Agreement) or in any Basic Document.
Seller May Own Certificates or Notes. The Seller 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 Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Seller 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, except in the event that all outstanding Notes and Certificates are owned by the Seller and/or any Affiliate thereof, that any Notes or Certificates owned by the Seller 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 any such Notes will not be entitled to the benefits of any financial guaranty insurance policy. The Seller shall notify the Owner Trustee and the Indenture Trustee promptly after it or any of its Affiliates become the owner or pledgee of a Certificate or a Note. The Master Servicer Representations of Master Servicer . The Master Servicer makes the following representations on which each Series Support Provider shall be deemed to have relied in executing and delivering the Series Support and on which the Issuer is deemed to have relied in acquiring the Receivables and on which the Noteholders are deemed to have relied on in the purchasing of Notes. The representations speak as of the execution and delivery of this Agreement and each Series Supplement, each Series Closing Date and as of each Transfer Date and shall survive each sale of the Series Trust Estate to the Issuer and each pledge thereof to the Indenture Trustee pursuant to the Indenture.
