Common use of Restrictions Clause in Contracts

Restrictions. The Owner Trustee shall not take any action that, to the actual knowledge of a Responsible Officer of the Owner Trustee, (a) is inconsistent with the purposes of the Issuer set forth in Section 2.3 or (b) would (i) affect the treatment of the Notes as indebtedness for United States federal income, state and local income, franchise and value added tax purposes, (ii) be deemed to cause a taxable exchange of the Notes for United States federal income or state income or franchise tax purposes or (iii) cause the Issuer or any portion thereof to be treated as an association or publicly traded partnership taxable as a corporation for United States federal income, state and local income or franchise and value added tax purposes or (c) be contrary to applicable law. None of the Certificateholders, the Administrator, the Servicer nor the Seller shall direct the Owner Trustee to take action that would violate the provisions of this Section 6.6.

Restrictions. The Owner Trustee shall not take any action that, to the actual knowledge of a Responsible Officer of the Owner Trustee, (a) that is inconsistent with the purposes of the Issuer Trust set forth in Section 2.3 or (b) that, to the actual knowledge of the Owner Trustee, would (i) affect the treatment of the Notes as indebtedness for United States federal income, state and local income, income or Applicable Tax State income or franchise and value added tax purposes, (ii) be deemed to cause a taxable exchange of the Notes for United States federal income or state Applicable Tax State income or franchise tax purposes or (iii) cause the Issuer Trust or any portion thereof to be treated taxable as an association (or publicly traded partnership partnership) taxable as a corporation for United States federal income, state and local income or Applicable Tax State income or franchise and value added tax purposes or (c) be contrary to applicable lawpurposes. None of the Certificateholders, the Administrator, the Servicer nor the Seller The Certificateholders shall not direct the Owner Trustee to take action that would violate the provisions of this Section 6.6.

Restrictions. The Owner Trustee shall not take any action that, to the actual knowledge of a Responsible Officer of the Owner Trustee, (a) is inconsistent with the purposes of the Issuer set forth in Section 2.3 or (b) would (i) affect the treatment of the Notes as indebtedness for United States federal income, state and local income, franchise and value added tax purposes, (ii) be deemed to cause a taxable exchange of the Notes for United States federal income or state income or franchise tax purposes or (iii) cause the Issuer or any portion thereof to be treated as an association or publicly traded partnership taxable as a corporation for United States federal income, state and local income or franchise and value added tax purposes or (c) be contrary to applicable law. None of the Certificateholders, the Administrator, the Servicer nor the Seller Depositor shall direct the Owner Trustee to take action that would violate the provisions of this Section 6.6.

Restrictions. The Owner Trustee shall not take any action that, to the actual knowledge of a Responsible Officer of the Owner Trustee, (a) that is inconsistent with the purposes of the Issuer set forth in Section 2.3 or (b) that, to the actual knowledge of a Responsible Officer of the Owner Trustee, would (i) affect the treatment of the Notes as indebtedness for United States federal income, state and local income, franchise and value added tax purposes, (ii) be deemed to cause a taxable exchange of the Notes for United States federal income or state income or franchise tax purposes or (iii) cause the Issuer or any portion thereof to be treated as an association or publicly traded partnership taxable as a corporation for United States federal income, state and local income or franchise and value added tax purposes or (c) be contrary to applicable lawpurposes. None of the Certificateholders, the Administrator, the Servicer nor the Seller The Certificateholders shall not direct the Owner Trustee to take action that would violate the provisions of this Section 6.6.

Restrictions. The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the Trust set forth in Section 2.03 or (b) that, to the actual knowledge of a Responsible Officer of the Owner Trustee, (a) is inconsistent with the purposes of the Issuer set forth in Section 2.3 or (b) would (i) affect the treatment of the Notes as indebtedness for United States U.S. federal income, state and local income, income and franchise and value added tax purposes, (ii) be deemed to cause a taxable exchange of the Notes for United States U.S. federal income or state income or franchise tax purposes or (iii) cause the Issuer Trust or any portion thereof to be treated as an association (or publicly traded partnership partnership), in either case, taxable as a corporation for United States U.S. federal income, state and local income or franchise and value added tax purposes or (c) be contrary to applicable lawpurposes. None of the Certificateholders, the Administrator, the Servicer nor the Seller The Certificateholders shall not direct the Owner Trustee to take action that would violate the provisions of this Section 6.66.06.

Restrictions. The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the Trust set forth in Section 2.03 or (b) that, to the actual knowledge of a Responsible Officer of the Owner Trustee, (a) is inconsistent with the purposes of the Issuer set forth in Section 2.3 or (b) would (i) affect the treatment of the Notes as indebtedness for United States U.S. federal income, state and local income, income and franchise and value added tax purposes, (ii) be deemed to cause a taxable exchange of the Notes for United States U.S. federal income or state income or franchise tax purposes or (iii) cause the Issuer Trust or any portion thereof to be treated as an association or publicly traded partnership taxable as a corporation for United States U.S. federal income, state and local income or franchise and value added tax purposes or (c) be contrary to applicable lawpurposes. None of the Certificateholders, the Administrator, the Servicer nor the Seller The Certificateholders shall not direct the Owner Trustee to take action that would violate the provisions of this Section 6.66.06.

Restrictions. The Owner Trustee shall not take any action that, to the actual knowledge of a Responsible Officer of the Owner Trustee, (a) is inconsistent with the purposes of the Issuer set forth in Section 2.3 or (b) would (i) affect the treatment of the Notes as indebtedness for United States federal income, state and local income, franchise and value added tax purposes, (ii) be deemed to cause a taxable exchange of the Notes for United States federal income or state income or franchise tax purposes or (iii) cause the Issuer or any portion thereof to be treated as an association or publicly traded partnership taxable as a corporation for United States federal income, state and local income or franchise and value added tax purposes or (c) be contrary to applicable law. None of the Certificateholders, the Administrator, the Servicer nor the Seller Depositor shall direct the Owner Trustee to take action that would violate the provisions of this Section 6.6.. 28 Amended and Restated Trust Agreement (SDART 2023-5) ARTICLE VII CONCERNING THE OWNER TRUSTEE

Restrictions. The Owner Trustee shall not take any action that, to the actual knowledge of a Responsible Officer of the Owner Trustee, (a) is inconsistent with the purposes of the Issuer set forth in Section 2.3 or (b) would (i) affect the treatment of the Notes as indebtedness for United States federal income, state and local income, franchise and value added tax purposes, (ii) be deemed to cause a taxable exchange of the Notes for United States federal income or state income or franchise tax purposes or (iii) cause the Issuer or any portion thereof to be treated as an association or publicly traded partnership taxable as a corporation for United States federal income, state and local income or franchise and value added tax purposes or (c) be contrary to applicable law. None of the Certificateholders, the Administrator, the Servicer nor the Seller Depositor shall direct the Owner Trustee to take action that would violate the provisions of this Section 6.6.. 28 Amended and Restated Trust Agreement (SDART 2023-3)