Characterization of the Trust. For purposes of SFAS 140, the parties hereto intend that the Trust shall be treated as a "qualifying special purpose entity" as such term is used in SFAS 140 and any successor rule thereto and its permitted activities shall be limited in accordance with paragraphs 35 through 45 thereof. The Depositor agrees that it does not have the right to prepay the Notes prior to the maturity date thereof under any circumstances and does hereby irrevocably waive and relinquish such right.
Appears in 14 contracts
Samples: Trust Agreement (Mmca Auto Owner Trust 2001-3), Trust Agreement (Mmca Auto Owner Trust 2001 2), Trust Agreement (Mmca Auto Owner Trust 2001-3)
Characterization of the Trust. For purposes of SFAS 140, the parties hereto intend that (a) the Trust shall be treated as a "qualifying special purpose entity" as such term is used in SFAS 140 and any successor rule thereto and its permitted activities shall (b) the Trust's power and authority as stated in Section 2.3 of this Agreement be limited in accordance with paragraphs paragraph 35 through 45 thereof. The Depositor agrees that it does not have the right to prepay the Notes prior to the maturity date thereof under any circumstances and does hereby irrevocably waive and relinquish such rightof SFAS 140.
Appears in 3 contracts
Samples: Trust Agreement (Chase Manhattan Bank Usa), Trust Agreement (Chase Manhattan Bank Usa Chase Manhattan Auto Owner Tr 03 C), Trust Agreement (Chase Manhattan Auto Owner Trust 2002-A)
Characterization of the Trust. For purposes of SFAS 140, the parties hereto intend that the Trust shall be treated as a "qualifying special purpose entity" as such term is used in SFAS 140 and any successor rule thereto and its permitted activities shall be limited in accordance with paragraphs paragraph 35 through 45 thereof. The Depositor agrees that it does not have the right to prepay the Notes prior to the maturity date thereof under any circumstances and does hereby irrevocably waive and relinquish such right.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Providian Master Trust), Pooling and Servicing Agreement (Dillard Asset Funding Co), Pooling and Servicing Agreement (Providian Master Trust)
Characterization of the Trust. For purposes of SFAS 140, the parties hereto intend that the Trust shall be treated as a "“qualifying special purpose entity" ” as such term is used in SFAS 140 and any successor rule thereto and its permitted activities shall be limited in accordance with paragraphs paragraph 35 through 45 thereof. The Depositor If the transfer of the Receivables to the Trustee is characterized as a loan to the Transferor secured by Receivables, the Transferor, in such circumstances, agrees that it does not have the right to prepay the Notes such loan prior to the maturity date thereof under any circumstances and does hereby irrevocably waive and relinquish such right.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (First Usa Credit Card Master Trust), Pooling and Servicing Agreement (First Usa Credit Card Master Trust), Master Pooling and Servicing Agreement (Circuit City Credit Card Master Trust)
Characterization of the Trust. For purposes of SFAS 140, the parties hereto intend that the Trust shall be treated as a "“qualifying special purpose entity" ” as such term is used in SFAS 140 and any successor rule thereto and its permitted activities shall be limited in accordance with paragraphs paragraph 35 through 45 thereof. The Depositor If the transfer of the Receivables to the Trust is characterized as a loan to the Transferor secured by Receivables, the Transferor, in such circumstances, agrees that it does not have the right to prepay the Notes such loan prior to the maturity date thereof under any circumstances and does hereby irrevocably waive and relinquish such right.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First Usa Credit Card Master Trust), Pooling and Servicing Agreement (First Usa Credit Card Master Trust)
Characterization of the Trust. For purposes of SFAS 140, the parties hereto intend that the Trust shall be treated as a "qualifying special purpose entity" as such term is used in SFAS 140 and any successor rule thereto and its permitted activities shall be limited in accordance with paragraphs paragraph 35 through 45 thereof. The Depositor If the transfer of the Receivables to the Trust is characterized as a loan to the Transferor secured by Receivables, the Transferor, in such circumstances, agrees that it does not have the right to prepay the Notes such loan prior to the maturity date thereof under any circumstances and does hereby irrevocably waive and relinquish such right.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chase Credit Card Master Trust)
Characterization of the Trust. For purposes of SFAS 140, the parties hereto intend that (a) the Trust shall be treated as a "“qualifying special purpose entity" ” as such term is used in SFAS 140 and any successor rule thereto and its permitted activities shall (b) the Trust’s power and authority as stated in Section 2.3 of this Agreement be limited in accordance with paragraphs paragraph 35 through 45 thereof. The Depositor agrees that it does not have the right to prepay the Notes prior to the maturity date thereof under any circumstances and does hereby irrevocably waive and relinquish such rightof SFAS 140.
Appears in 1 contract
