Common use of Ownership of the Certificates or Notes Clause in Contracts

Ownership of the Certificates or Notes. The Receivables 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 Receivables Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Receivables 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, that any Notes or Certificates owned by the Receivables Seller or any Affiliate thereof, during the time such Notes or Certificates are owned by such party, shall be without voting rights for any purpose set forth in the Basic Documents. The Receivables Seller shall notify the Owner Trustee, the Indenture Trustee and the Majority Noteholder with respect to any transfer of any Certificate.

Ownership of the Certificates or Notes. The Receivables 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 Receivables Seller or an Affiliate thereof, except as expressly provided herein or in any other Basic Document. Notes or Certificates Certificate so owned by the Receivables 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 CertificatesCertificate; providedPROVIDED, howeverHOWEVER, that any Notes or Certificates Certificate owned by the Receivables Seller or any Affiliate thereof, during the time such Notes or Certificates Certificate are owned by such partythem, shall be without voting rights for any purpose set forth in the Basic DocumentsDocuments and will not be entitled to the benefits of the Note Policy. The Receivables Seller shall notify the Owner Trustee, the Indenture Trustee Trustee, the Trust Collateral Agent and the Majority Noteholder Insurer with respect to any other transfer of any Certificate.

Ownership of the Certificates or Notes. The Receivables 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 Receivables Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Receivables 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; providedPROVIDED, howeverHOWEVER, that any Notes or Certificates owned by the Receivables Seller or any Affiliate thereof, during the time such Notes or Certificates are owned by such partythem, shall be without voting rights for any purpose set forth in the Basic DocumentsDocuments and will not be entitled to the benefits of the Note Policy. The Receivables Seller shall notify the Owner Trustee, the Indenture Trustee Trustee, the Trust Collateral Agent and the Majority Noteholder Insurer with respect to any other transfer of any Certificate.

Ownership of the Certificates or Notes. The Receivables 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 Receivables Seller or an Affiliate thereof, except as expressly provided herein or in any other Basic Document. Notes or Certificates so owned by the Receivables 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; providedPROVIDED, howeverHOWEVER, that any Notes or Certificates owned by the Receivables Seller or any Affiliate thereof, during the time such Notes or Certificates are owned by such partythem, shall be without voting rights for any purpose set forth in the Basic DocumentsDocuments and will not be entitled to the benefits of the Note Policy. The Receivables Seller shall notify the Owner Trustee, the Indenture Trustee Trustee, the Trust Collateral Agent and the Majority Noteholder Insurer with respect to any other transfer of any Certificate.

Ownership of the Certificates or Notes. The Receivables Each 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 Receivables a Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Receivables a 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, that any Notes or Certificates owned by the Receivables a Seller or any Affiliate thereof, during the time such Notes or Certificates are owned by such party, shall be without voting rights for any purpose set forth in the Basic DocumentsDocuments and such Notes shall be deemed not to be Outstanding in determining whether the applicable percentage of outstanding Notes have voted. The Receivables Seller Sellers shall notify the Owner Trustee, the Indenture Trustee Trustee, the Trust Collateral Agent and the Majority Noteholder Administrative Agent with respect to any transfer of any Certificate.

Ownership of the Certificates or Notes. The Receivables 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 Receivables Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Receivables Seller or such Affiliate shall have an equal and proportionate benefit under the Back to Contents provisions of the Basic Documents, without preference, priority, or distinction as among all of the Notes or Certificates; provided, however, that any Notes or Certificates owned by the Receivables Seller or any Affiliate thereof, during the time such Notes or Certificates are owned by such partythem, shall be without voting rights for any purpose set forth in the Basic DocumentsDocuments and will not be entitled to the benefits of the Note Policy. The Receivables Seller shall notify the Owner Trustee, the Indenture Trustee Trustee, the Trust Collateral Agent and the Majority Noteholder Insurer with respect to any other transfer of any Certificate.