Appointment of Certificate Paying Agent. The Certificate Paying Agent shall make distributions to Certificateholders from each Certificate Distribution Account pursuant to Section 5.2 and shall report the amounts of such distributions to the Owner Trustee. Any Certificate Paying Agent shall have the revocable power to withdraw funds from each Certificate Distribution Account for the purpose of making the distributions referred to above. The Owner Trustee may revoke such power and remove the Certificate Paying Agent if the Owner Trustee determines in its sole discretion that the Certificate Paying Agent shall have failed to perform its obligations under this Agreement in any
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Receivables Two L P), Trust Agreement (Ford Credit Auto Receivables Two LLC)
Appointment of Certificate Paying Agent. The Certificate Paying Agent shall make distributions to Certificateholders from each Certificate Distribution Account pursuant to Section 5.2 and shall report the amounts of such distributions to the Owner Trustee. Any Certificate Paying Agent shall have the revocable power to withdraw funds from each Certificate Distribution Account for the purpose of making the distributions referred to above. The Owner Trustee may revoke such power and remove the Certificate Paying Agent if the Owner Trustee determines in its sole discretion that the Certificate Paying Agent shall have failed to perform its obligations under this Agreement in anyany material respect. The Certificate Paying Agent shall
Appears in 1 contract
Samples: Trust Agreement (Ford Credit Auto Receivables Two L P)
Appointment of Certificate Paying Agent. The Certificate Paying Agent paying agent for the Transferor Certificates shall make distributions to Certificateholders from the holder of each Transferor Certificate Distribution Account pursuant to Section 5.2 this Trust Agreement and shall report the amounts of such those distributions to the Owner Trustee. Any Certificate Paying Agent shall have The Administrator, on behalf of the revocable power to withdraw funds from each Certificate Distribution Account for the purpose of making the distributions referred to above. The Owner Trustee Trust, may revoke such power and remove the Certificate Paying Agent if the Owner Trustee Administrator determines in its sole discretion that the Certificate Paying Agent shall have has failed to perform its obligations under this Agreement in any
Appears in 1 contract
Samples: Trust Agreement (CWABS Revolving Home Equity Loan Trust, Series 2004-N)
Appointment of Certificate Paying Agent. The Certificate Paying Agent shall make distributions to Certificateholders from each Certificate Distribution Account pursuant to Section 5.2 and shall report the amounts of such distributions to the Owner Trustee. Any Certificate Paying Agent shall have the revocable power to withdraw funds from each Certificate Distribution Account for the purpose of making the distributions referred to above. The Owner Trustee may revoke such power and remove the Certificate Paying Agent if the Owner Trustee determines in its sole discretion that the Certificate Paying Agent shall have failed to perform its obligations under this Agreement in anyOwner
Appears in 1 contract
Samples: Trust Agreement (Ford Credit Auto Receivables Two LLC)
Appointment of Certificate Paying Agent. The Certificate Paying Agent shall make distributions to Certificateholders from each Certificate Distribution Account pursuant to Section 5.2 and shall report the amounts of such distributions to the Owner Trustee. Any Certificate Paying Agent shall have the revocable power to withdraw funds from each Certificate Distribution Account for the purpose of making the distributions referred to above. The Owner Trustee may revoke such power and remove the Certificate Paying Agent if the Owner Trustee determines in its sole discretion that the Certificate Paying Agent shall have failed to perform its obligations under this Agreement in anyCertificate
Appears in 1 contract
Samples: Trust Agreement (Ford Credit Auto Receivables Two L P)
Appointment of Certificate Paying Agent. The Certificate Paying Agent shall make distributions to Certificateholders from each Certificate Distribution Account pursuant to Section 5.2 and shall report the amounts of such distributions to the Owner Trustee. Any Certificate Paying Agent shall have the revocable power to withdraw funds from each Certificate Distribution Account for the purpose of making the distributions referred to above. The Owner Trustee may revoke such power and remove the Certificate Paying Agent if the Owner Trustee determines in its sole discretion that the Certificate Paying Agent shall have failed to perform its obligations under this Agreement in anydistributions
Appears in 1 contract
