Preferential Collection of Claims Against Issuing Entity. If and when the Indenture Trustee shall be or become a creditor of the Issuing Entity (or any other obligor upon the Notes), the Indenture Trustee will be subject to the provisions of Section 311 of the Trust Indenture Act. An Indenture Trustee who has resigned or been removed will be subject to subsection 311(a) of the Trust Indenture Act to the extent provided therein.
Appears in 6 contracts
Samples: Trust Agreement (Chase Card Funding LLC), Servicing Agreement (Chase Issuance Trust), Servicing Agreement (Chase Issuance Trust)
Preferential Collection of Claims Against Issuing Entity. If and when the Indenture Trustee shall be or become a creditor of the Issuing Entity (or any other obligor upon the Notes), the Indenture Trustee will be subject to the provisions of Section 311 of the Trust Indenture Act. An Indenture Trustee who has resigned or been removed will be subject to subsection Section 311(a) of the Trust Indenture Act to the extent provided therein.
Appears in 2 contracts
Samples: Navistar Financial Dealer (Navistar International Corp), Wachovia Card Receivables LLC
