Common use of Seller May Own Notes Clause in Contracts

Seller May Own Notes. Each of the Seller and any Affiliate of the Seller may in its individual or any other capacity become the owner or pledgee of Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof except as otherwise specifically provided herein or in the Related Documents. Notes so owned by or pledged to the Seller or such Affiliate shall have an equal and proportionate benefit under the provisions of this Agreement or any Related Document, without preference, priority, or distinction as among all of the Notes, provided that any Notes owned by the Seller or any Affiliate thereof, during the time such Notes are owned by them, shall be without voting rights for any purpose set forth in this Agreement or any Related Document. The Seller shall notify the Owner Trustee, the Indenture Trustee and the Security Insurer promptly after it or any of its Affiliates become the owner or pledgee of a Note.

Seller May Own Notes. Each of the The Seller and any Affiliate of the Seller thereof may in its individual or any other capacity become the owner or pledgee of Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof thereof, except as otherwise specifically expressly provided herein or in the Related Documentsany Transaction Document. Notes so owned by or pledged to the Seller or such Affiliate shall have an equal and proportionate benefit under the provisions of this Agreement or any Related Documentthe Transaction Documents, without preference, priority, or distinction as among all of the Notes; provided, provided however, that any Notes owned by the Seller or any Affiliate thereof, during the time such Notes are owned by them, shall be without voting rights for any purpose set forth in this Agreement or any Related Documentthe Documents and will not be entitled to the benefits of the Note Policy. The Seller shall notify the Owner Trustee, the Indenture Trustee Trustee, the Trust Collateral Agent and the Security Insurer promptly after it or any of its Affiliates become the owner or pledgee of a Note.

Seller May Own Notes. Each of the The Seller and any Affiliate of the Seller thereof (except NAFI) may in its individual or any other capacity become the owner or pledgee of Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof thereof, except as otherwise specifically expressly provided herein or in the Related Documentsany Transaction Document. Notes so owned by or pledged to the Seller or such Affiliate shall have an equal and proportionate benefit under the provisions of this Agreement or any Related Documentthe Transaction Documents, without preference, priority, or distinction as among all of the Notes; provided, provided however, that any Notes owned by the Seller or any Affiliate thereof, during the time such Notes are owned by them, shall be without voting rights for any purpose set forth in this Agreement or any Related Documentthe Transaction Documents and will not be entitled to the benefits of the Class A Note Policy. The Seller shall notify the Owner Trustee, the Indenture Trustee Trustee, the Trust Collateral Agent and the Security Insurer promptly after it or any of its Affiliates become the owner or pledgee of a Note.

Seller May Own Notes. Each of the Seller and any Affiliate of the Seller may in its individual or any other capacity become the owner or pledgee of Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof except as otherwise specifically provided herein or in the Related Documents. Notes so owned by or pledged to the Seller or such Affiliate shall have an equal and proportionate benefit under the provisions of this Agreement or any Related Document, without preference, priority, or distinction as among all of the Notes, provided that PROVIDED THAT any Notes owned by the Seller or any Affiliate thereof, during the time such Notes are owned by them, shall be without voting rights for any purpose set forth in this Agreement or any Related Document. The Seller shall notify the Owner TrusteeIssuer, the Indenture Trustee and the Security Insurer promptly after it or any of its Affiliates become the owner or pledgee of a Note.