Relevant Trustee Clause Samples
The 'Relevant Trustee' clause defines which trustee or trustees are considered pertinent for the purposes of a particular agreement or provision. In practice, this clause identifies the specific individual or entity acting as trustee whose actions, decisions, or status are relevant to the rights and obligations under the contract. For example, in a trust with multiple trustees, the clause may specify that only the lead trustee or a trustee holding certain powers is the 'Relevant Trustee.' This ensures clarity in the administration of the trust and helps avoid confusion or disputes about which trustee's actions are binding or significant for contractual matters.
Relevant Trustee. Following the payment in full of principal of, and interest on, the Notes, the Certificate Paying Agent shall assume the role of Relevant Trustee hereunder and shall perform the obligations of the Relevant Trustee set forth herein. At least five (5) Business Days prior to the final payment in full of principal of, and interest on, the Notes, the Servicer shall deliver a written notification to the Certificate Paying Agent, which notice shall set forth the date upon which the Certificate Paying Agent will assume the role of Relevant Trustee (the “Assumption Date”). For the avoidance of doubt, the obligations and duties of the Certificate Paying Agent as Relevant Trustee under the Transaction Documents shall be limited to the express duties of the Relevant Trustee, and shall not be deemed to include any duty or obligation of the Indenture Trustee, the Issuer, or any other Person. In the performance of its obligations as Relevant Trustee, the Certificate Paying Agent shall be entitled to all of the same rights, protections, indemnities and immunities as the Indenture Trustee under the Indenture, which rights, protections, indemnities and immunities are incorporated herein by reference. The parties hereby agree to amend the Transaction Documents prior to the Assumption Date to provide for such terms and conditions as may be necessary or desirable in connection with the assumption of the role of Relevant Trustee by the Certificate Paying Agent.
Relevant Trustee. Following the payment in full of principal of, and interest on, the Notes and receipt of written notification from the Servicer, the Certificate Paying Agent shall assume the role of Relevant Trustee and shall perform the express obligations of the Relevant Trustee under the Sale and Servicing Agreement. All of the same rights, protections, indemnities and immunities of Wilmington Trust, National Association hereunder (individually and as Certificate Paying Agent) shall be equally applicable to Wilmington Trust, National Association in its role as Relevant Trustee under the Transaction Documents.
Relevant Trustee. Following the payment in full of principal of, and interest on, the Notes, the Certificate Paying Agent shall assume the role of Relevant Trustee hereunder and shall perform the obligations of the Relevant Trustee set forth herein. At least five (5) Business Days prior to the final payment in full of principal of, and interest on, the Notes, the Servicer shall deliver a written notification to the Certificate Paying Agent, which notice shall set forth the date upon which the Certificate Paying Agent will assume the role of Relevant Trustee (the “Assumption Date”). For the avoidance of doubt, the obligations and duties of the Certificate Paying Agent as Relevant Trustee under the Transaction Documents shall be limited to the express duties of the Relevant Trustee, and shall not be deemed to include any duty or obligation of the Indenture Trustee, the Issuer, or any other Person. In the performance of its obligations as Relevant Trustee, the Certificate Paying Agent shall be entitled to all of the same rights, protections, indemnities and immunities as the Owner Trustee under the Trust Agreement, which rights, protections, indemnities and immunities are incorporated herein by reference. The parties hereby agree to amend the Transaction Documents prior to the Assumption Date to provide for such terms and conditions as may be necessary or desirable in connection with the assumption of the role of Relevant Trustee by the Certificate Paying Agent. IN WITNESS WHEREOF, the parties have caused this Sale and Servicing Agreement to be duly executed by their respective officers thereunto duly authorized as of the day and year first above written. SANTANDER DRIVE AUTO RECEIVABLES LLC, as Seller By: Name: ▇▇▇▇▇ ▇▇▇▇▇ Title: President and Chief Financial Officer ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ AUTO RECEIVABLES TRUST 2015-2, as Issuer By: Wilmington Trust, National Association, not in its individual capacity but solely as Owner Trustee By: Name: Title: Acknowledged and agreed solely with respect to Section 9.23 ▇▇▇▇▇ FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Paying Agent By: Name: Title: SANTANDER CONSUMER USA INC., as Servicer By: Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Title: Treasurer ▇▇▇▇▇ FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Indenture Trustee By: Name: Title:
Relevant Trustee. Following the payment in full of principal and interest on the Notes, the Owner Trustee shall assume the role of Relevant Trustee for purposes of Section 6.1(a) of the Servicing Agreement and Section 7.4 and Article VIII of the Indenture (notwithstanding the satisfaction and discharge of the Indenture following payment in full of principal and interest on the Notes), which are incorporated by reference into this Agreement; provided, however, that, for purposes of Section 7.4 of the Indenture, the Owner Trustee shall disseminate the Servicer’s Report in the manner set forth in Section 7.4(b) hereof.
Relevant Trustee. Following the payment in full of principal of, and interest on, the Notes and receipt of written notification from the Servicer, the Certificate Paying Agent shall assume the role of Relevant Trustee and shall perform the express obligations of the Relevant Trustee under the Sale and Servicing Agreement. All of the same rights, protections, indemnities and immunities of ▇▇▇▇▇ Fargo Bank, National Association hereunder (individually and as Certificate Paying Agent) shall be equally applicable to ▇▇▇▇▇ Fargo Bank, National Association in its role as Relevant Trustee under the Transaction Documents.
Relevant Trustee. Following the payment in full of principal of, and interest on, the Notes and receipt of written notification from the Administrator, the Certificate Paying Agent shall assume the role of Relevant Trustee and shall perform the express obligations of the Relevant Trustee under the Administration Agreement and the Servicing Agreement. All of the same rights, protections, indemnities and immunities of Citibank, N.A. hereunder (individually and as Certificate Paying Agent) shall be equally applicable to Citibank, N.A. in its role as Relevant Trustee under the Transaction Documents.
Relevant Trustee. Following the payment in full of principal of, and interest on, the Notes and receipt of written notification from the Servicer, the Certificate Paying Agent shall assume the role of Relevant Trustee and shall perform the express obligations of the Relevant Trustee under the Sale and Servicing Agreement. All of the same rights, protections, indemnities and immunities of Deutsche Bank Trust Company Americas hereunder (individually and as Certificate Paying Agent) shall be equally applicable to Deutsche Bank Trust Company Americas in its role as Relevant Trustee under the Transaction Documents.
Relevant Trustee. Following the payment in full of principal and interest on the Notes and receipt of written notification from the Servicer, the Owner Trustee shall assume the role of Relevant Trustee and shall perform the obligations of the Relevant Trustee under the Sale and Servicing Agreement. All of the same rights, protections, indemnities and immunities of ▇▇▇▇▇ Fargo hereunder (individually and as Owner Trustee) shall be equally applicable to ▇▇▇▇▇ Fargo in its role as Relevant Trustee.
Relevant Trustee. Following the payment in full of principal of, and interest on, the Notes, the Certificate Paying Agent shall assume the role of Relevant Trustee hereunder and shall perform the obligations of the Relevant Trustee set forth herein. At least five (5) Business Days prior to the final payment in full of principal of, and interest on, the Notes, the Servicer shall deliver a written notification to the Certificate Paying Agent, which notice shall set forth the date upon which the Certificate Paying Agent will assume the role of 39 Sale and Servicing Agreement (DRIVE 2021-1) Relevant Trustee (the “Assumption Date”). For the avoidance of doubt, the obligations and duties of the Certificate Paying Agent as Relevant Trustee under the Transaction Documents shall be limited to the express duties of the Relevant Trustee, and shall not be deemed to include any duty or obligation of the Indenture Trustee, the Issuer, or any other Person. In the performance of its obligations as Relevant Trustee, the Certificate Paying Agent shall be entitled to all of the same rights, protections, indemnities and immunities as the Indenture Trustee under the Indenture, which rights, protections, indemnities and immunities are incorporated herein by reference. The parties hereby agree to amend the Transaction Documents prior to the Assumption Date to provide for such terms and conditions as may be necessary or desirable in connection with the assumption of the role of Relevant Trustee by the Certificate Paying Agent.
Relevant Trustee. Following the payment in full of principal and interest on the Notes, the Owner Trustee shall assume the role of Relevant Trustee for all purposes under the Transaction Documents and shall perform the obligations of the Relevant Trustee under the Indenture. All of the same rights, protections, indemnities and immunities of [●], hereunder (individually and as Certificate Paying Agent and as Certificate Registrar) shall apply equally to [●], in its role as Relevant Trustee under the Transactions Document.