Common use of Registration of Transfer and Exchange of Grantor Trust Certificate Clause in Contracts

Registration of Transfer and Exchange of Grantor Trust Certificate. (a) The Grantor Trustee shall cause to be kept at one of the offices or agencies to be appointed by the Grantor Trustee in accordance with the provisions of Section 6.11 a Grantor Trust Certificate Register in which, subject to such reasonable regulations as it may prescribe, the Grantor Trustee shall provide for the registration of the Grantor Trust Certificate and of transfers and exchanges of the Grantor Trust Certificate as herein provided. The Grantor Trustee is initially appointed Grantor Trust Certificate Registrar for the purpose of registering the Grantor Trust Certificate and transfers and exchanges of the Grantor Trust Certificate as herein provided. The Grantor Trust Certificate Registrar, or the Grantor Trustee, shall notify the Master Servicer promptly of any transfer of the Grantor Trust Certificate and the name of any such transferee of the Grantor Trust Certificateholder.