Common use of Direction to Owner Trustee Clause in Contracts

Direction to Owner Trustee. Pursuant to and in accordance with Section 5.6 of the Trust Agreement, the Administrator hereby directs the Owner Trustee to execute and deliver this Amendment as Owner Trustee, and on behalf of the Issuer. The Administrator hereby certifies and confirms that (a) it has reviewed and approved of this Amendment and the amendment to the Transfer and Servicing Agreement; (b) this direction and such action by the Owner Trustee pursuant to this direction are not contrary to any obligation of the Issuer or the Owner Trustee under, and are consistent with, permitted by and in compliance with the Trust Agreement, and all of the other relevant documents contemplated by the Trust Agreement; (c) the Owner Trustee shall not be liable for the action taken by it in accordance with this Amendment; (d) all conditions precedent necessary for the effectiveness of this Amendment contained in the Trust Agreement and the Transfer and Servicing Agreement have been duly satisfied or waived; and (e) the Owner Trustee’s actions in accordance with this Amendment are covered by Section 7.2(a) of the Trust Agreement.

Appears in 4 contracts

Samples: Transfer and Servicing Agreement (Verizon Owner Trust 2019-C), Transfer and Servicing Agreement (Verizon Owner Trust 2020-B), Transfer and Servicing Agreement (Verizon Owner Trust 2020-A)

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Direction to Owner Trustee. Pursuant to and in accordance with Section 5.6 of the Trust Agreement, the Administrator hereby directs the Owner Trustee to execute and deliver this Amendment as Owner Trustee, and on behalf of the Issuer. The Administrator hereby certifies and confirms that (a) it has reviewed and approved of this Amendment and the amendment amendments to the Transfer and Servicing AgreementAgreements; (b) this direction and such action by the Owner Trustee pursuant to this direction are not contrary to any obligation of the Issuer or the Owner Trustee under, and are consistent with, permitted by and in compliance with the Trust Agreement, and all of the other relevant documents contemplated by the Trust Agreement; (c) the Owner Trustee shall not be liable for the action taken by it in accordance with this Amendment; (d) all conditions precedent necessary for the effectiveness of this Amendment contained in the Trust Agreement and the Transfer and Servicing Agreement other Agreements have been duly satisfied or waived; and (e) the Owner Trustee’s actions in accordance with this Amendment are covered by Section 7.2(a) of the Trust Agreement.

Appears in 3 contracts

Samples: Transfer and Servicing Agreement (Verizon Owner Trust 2020-B), Transfer and Servicing Agreement (Verizon Owner Trust 2020-A), Transfer and Servicing Agreement (Verizon Owner Trust 2020-C)

Direction to Owner Trustee. Pursuant to and in accordance with Section 5.6 of the Trust Agreement, the Administrator Cellco, in its capacity as Administrator, hereby authorizes and directs the Owner Trustee to execute and deliver this Amendment as Owner Trustee, and . on behalf of the IssuerTrust. The Administrator hereby certifies and confirms that (a) it has reviewed and approved of this Amendment and the amendment amendments to the Transfer and Servicing AgreementAgreements; (b) this direction and such action by the Owner Trustee pursuant to this direction are not contrary to any obligation of the Issuer Trust or the Owner Trustee under, and are consistent with, permitted by and in compliance with the Trust Agreement, and all of the other relevant documents contemplated by the Trust Agreement; (c) the Owner Trustee shall not be liable for the action taken by it in accordance with this Amendment; (d) all conditions precedent necessary for the effectiveness of this Amendment contained in the Trust Agreement and the Transfer and Servicing Agreement Agreements have been duly satisfied or waived; and (e) the Owner Trustee’s actions in accordance with this Amendment are covered by Section 7.2(a) of the Trust Agreement.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Verizon Master Trust), Transfer and Servicing Agreement (Verizon Master Trust)

Direction to Owner Trustee. Pursuant to and in accordance with Section 5.6 of the Amended and Restated Trust Agreement of the Issuer, dated as of June 12, 2019 (the “Trust Agreement”) between the Depositor and the Owner Trustee, the Administrator hereby directs the Owner Trustee to execute and deliver this Amendment as Owner Trustee, and on behalf of the Issuer. The Administrator hereby certifies and confirms that (a) it has reviewed and approved of this Amendment and the amendment amendments to the Transfer and Servicing AgreementAgreements; (b) this direction and such action by the Owner Trustee pursuant to this direction are not contrary to any obligation of the Issuer or the Owner Trustee under, and are consistent with, permitted by and in compliance with the Trust Agreement, and all of the other relevant documents contemplated by the Trust Agreement; (c) the Owner Trustee shall not be liable for the action taken by it in accordance with this Amendment; (d) all conditions precedent necessary for the effectiveness of this Amendment contained in the Trust Agreement and the Transfer and Servicing Agreement other Agreements have been duly satisfied or waived; and (e) the Owner Trustee’s actions in accordance with this Amendment are covered by Section 7.2(a) of the Trust Agreement.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Verizon Owner Trust 2019-B)

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Direction to Owner Trustee. Pursuant to and in accordance with Section 5.6 of the Amended and Restated Trust Agreement of the Issuer, dated as of March 13, 2019 (the “Trust Agreement”) between the Depositor and the Owner Trustee, the Administrator hereby directs the Owner Trustee to execute and deliver this Amendment as Owner Trustee, and on behalf of the Issuer. The Administrator hereby certifies and confirms that (a) it has reviewed and approved of this Amendment and the amendment amendments to the Transfer and Servicing AgreementAgreements; (b) this direction and such action by the Owner Trustee pursuant to this direction are not contrary to any obligation of the Issuer or the Owner Trustee under, and are consistent with, permitted by and in compliance with the Trust Agreement, and all of the other relevant documents contemplated by the Trust Agreement; (c) the Owner Trustee shall not be liable for the action taken by it in accordance with this Amendment; (d) all conditions precedent necessary for the effectiveness of this Amendment contained in the Trust Agreement and the Transfer and Servicing Agreement other Agreements have been duly satisfied or waived; and (e) the Owner Trustee’s actions in accordance with this Amendment are covered by Section 7.2(a) of the Trust Agreement.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Verizon Owner Trust 2019-A)

Direction to Owner Trustee. Pursuant to and in accordance with Section 5.6 of the Amended and Restated Trust Agreement of the Issuer, dated as of October 10, 2018, as previously amended (the “Trust Agreement”) between the Depositor and the Owner Trustee, the Administrator hereby directs the Owner Trustee to execute and deliver this Amendment as Owner Trustee, and on behalf of the Issuer. The Administrator hereby certifies and confirms that (a) it has reviewed and approved of this Amendment and the amendment amendments to the Transfer and Servicing AgreementAgreements; (b) this direction and such action by the Owner Trustee pursuant to this direction are not contrary to any obligation of the Issuer or the Owner Trustee under, and are consistent with, permitted by and in compliance with the Trust Agreement, and all of the other relevant documents contemplated by the Trust Agreement; (c) the Owner Trustee shall not be liable for the action taken by it in accordance with this Amendment; (d) all conditions precedent necessary for the effectiveness of this Amendment contained in the Trust Agreement and the Transfer and Servicing Agreement other Agreements have been duly satisfied or waived; and (e) the Owner Trustee’s actions in accordance with this Amendment are covered by Section 7.2(a) of the Trust Agreement.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Vzot 2018-A)

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