Common use of Payments to the Owner Trustee and Delaware Trustee Clause in Contracts

Payments to the Owner Trustee and Delaware Trustee. Any amounts paid to the Owner Trustee or the Delaware Trustee, as applicable, in their respective trustee capacities pursuant to this Article VIII shall be deemed not to be a part of the Owner Trust Estate immediately after such payment and any amounts so paid to the Owner Trustee or the Delaware Trustee, as applicable, in its individual capacity shall not be so paid out of the Owner Trust Estate but shall be the property of the Owner Trustee in its individual capacity or the Delaware Trustee in its individual capacity, as applicable.

Appears in 3 contracts

Samples: Trust Agreement (Household Auto Receivables Corp), Trust Agreement (Household Auto Receivables Corp), Trust Agreement (Household Auto Receivables Corp)

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Payments to the Owner Trustee and Delaware Trustee. Any amounts paid to the Owner Trustee or the Delaware Trustee, as applicable, in their respective trustee capacities pursuant to this Article VIII shall be deemed not to be a part of the Owner Trust Estate immediately after such payment and any amounts so paid to the Owner Trustee or the Delaware Trustee, as applicable, in its either of their respective individual capacity capacities shall not be so paid out of the Owner Trust Estate but shall be the property of the Owner Trustee in its individual capacity or the Delaware Trustee in its individual capacity, as applicable.

Appears in 1 contract

Samples: Trust Agreement (HSBC Automotive Trust 2005-2)

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