Common use of TERMINATION AT OPTION OF THE OWNER PARTICIPANT Clause in Contracts

TERMINATION AT OPTION OF THE OWNER PARTICIPANT. The provisions of Section 7.1 notwithstanding, this Trust Agreement and the trusts created hereby shall terminate and the Trust Estate shall be distributed to the Owner Participant, and this Trust Agreement shall be of no further force and effect, upon the election of the Owner Participant by notice to the Owner Trustee to revoke the trusts created hereby; provided that, in addition to the giving of such notice, the Owner Participant, with the cooperation of the Owner Trustee, shall execute and deliver such written agreements and instruments and take such actions as shall be necessary in order to cause the succession of the Owner Participant to all the rights, title, interests, duties and liabilities of the Owner Trustee under the Operative Agreements (other than obligations attributable to any gross negligence or willful misconduct of Trust Company or any breach by the Owner Trustee of its obligations under the Operative Agreements); provided, however, that until the Lien of the Indenture on the Trust Estate shall have been discharged pursuant to the terms thereof, the Owner Participant may not revoke such trusts without the consent of the Indenture Trustee. The written agreements and instruments referred to in the preceding sentence shall be reasonably satisfactory in form and substance to the Owner Trustee and shall release the Owner Trustee from all further obligations of the Owner Trustee hereunder and under the agreements and other instruments mentioned in the preceding sentence.

TERMINATION AT OPTION OF THE OWNER PARTICIPANT. The provisions ---------------------------------------------- of Section 7.1 9.1 notwithstanding, but subject to Section 11.2, this Trust Agreement and the trusts created hereby shall terminate and the Trust Estate shall be distributed to the Owner Participant, and this Trust Agreement shall be of no further force and effect, upon the election of the Owner Participant by notice to the each Owner Trustee to revoke the trusts created hereby; provided that, -------- in addition to the giving of such notice, the Owner Participant, with the cooperation of the each Owner Trustee, shall execute and deliver such written agreements and instruments and take such actions as shall be necessary in order to cause the succession of the Owner Participant to all the rights, title, interests, duties and liabilities of the each Owner Trustee under the Operative Agreements Owner Trust Documents and the Owner Trust U.K. Documents (other than obligations attributable to any gross negligence or willful misconduct of the Trust Company or the Resident Trustee or any breach by the either Owner Trustee of its or his obligations under the Operative AgreementsOwner Trust Documents or the Owner Trust U.K. Documents); provided, however, that until prior to any such termination, the Lien of the Indenture -------- ------- on the Trust Indenture Estate shall have been discharged pursuant to the terms thereofreleased, the Owner Participant may not revoke such trusts without the consent and full payment of the principal of, or, premium (if any) and interest on the Secured Notes shall have been made or the Indenture TrusteeTrustee shall have consented to such termination. The written agreements and instruments referred to in the preceding sentence shall be reasonably satisfactory in form and substance to the each Owner Trustee and shall release the each Owner Trustee from all further obligations of the Owner Trustee Trustees hereunder and under the agreements and other instruments mentioned in the preceding sentence.

TERMINATION AT OPTION OF THE OWNER PARTICIPANT. The provisions of Section 7.1 10.01(a) hereof notwithstanding, this Trust Agreement and the trusts Trust created hereby shall terminate and the Trust Estate shall be distributed to the Owner ParticipantParticipant in accordance with the terms of Article IV, and this Trust Agreement shall be of no further force and effect, upon the election of the Owner Participant by notice to the Owner Trustee to revoke the trusts created hereby; provided that, in addition to the giving of such notice, the Owner Participant, with the cooperation of the Owner Trustee, shall execute and deliver if such written agreements and instruments and take such actions as notice shall be necessary in order to cause accompanied by the succession written agreement of the Owner Participant to or its designee assuming all the rights, title, interests, duties obligations of the Trust under or contemplated by the Operative Documents and liabilities all other obligations of the Owner Trustee under the Operative Agreements (other than obligations attributable to any gross negligence or willful misconduct of Trust Company or any breach incurred by it as trustee hereunder. Upon such termination, the Owner Trustee shall cause the Certificate of its obligations under Trust to be cancelled in accordance with the Operative Agreements); provided, however, that until the Lien provisions of Section 3810(d) of the Indenture on the Statutory Trust Estate shall have been discharged pursuant to the terms thereof, Act. The written agreement of the Owner Participant may not revoke such trusts without the consent of the Indenture Trustee. The written agreements and instruments referred to in the preceding sentence or its designee required by this Section 10.01(b) shall be reasonably satisfactory in form and substance to the Owner Trustee and shall release the Owner Trustee and the Trust from all further obligations of the Owner Trustee hereunder and under the agreements Trust hereunder. Concurrently with termination of this Agreement and the Trust created hereby, the Owner Trustee and the Trust shall take such action as may be requested by the Owner Participant to transfer the Trust Estate to the Owner Participant or such other Person as the Owner Participant may direct, including, without limitation, the execution of instruments mentioned in of transfer or assignment with respect to any of the preceding sentenceOperative Documents to which the Trust is a party.

TERMINATION AT OPTION OF THE OWNER PARTICIPANT. The provisions of Section 7.1 notwithstanding, this Trust Agreement and the trusts created hereby shall terminate and the Trust Estate shall be distributed to the Owner Participant, and this Trust Agreement shall be of no further force and effect, upon the election of the Owner Participant by notice to the Owner Trustee to revoke the trusts created hereby; provided that, in addition to the giving of such notice, the Owner Participant, with the cooperation of the Owner Trustee, shall execute and deliver such written agreements and instruments and take such actions as shall be necessary in order to cause the succession of the Owner Participant to all the rights, title, interests, duties and liabilities of the Owner Trustee under the Operative Agreements (other than obligations attributable to any gross negligence or willful misconduct of Trust Company or any breach by the Owner Trustee of its obligations under the Operative Agreements); provided, however, that until the Lien of the Indenture on the Trust Estate shall have been discharged pursuant to the terms thereof, thereof the Owner Participant may not revoke such trusts without the consent of the Indenture Trustee. The written agreements and instruments referred to in the preceding sentence shall be reasonably satisfactory in form and substance to the Owner Trustee and shall release the Owner Trustee from all further obligations of the Owner Trustee hereunder and under the agreements and other instruments mentioned in the preceding sentence.

TERMINATION AT OPTION OF THE OWNER PARTICIPANT. The ---------------------------------------------- provisions of Section 7.1 notwithstanding, this Trust Agreement and the trusts created hereby shall terminate and the Trust Estate shall be distributed to the Owner Participant, and this Trust Agreement shall be of no further force and effect, upon the election of the Owner Participant by notice to the Owner Trustee to revoke the trusts created hereby; provided that, in addition to the -------- giving of such notice, the Owner Participant, with the cooperation of the Owner Trustee, shall execute and deliver such written agreements and instruments and take such actions as shall be necessary in order to cause the succession of the Owner Participant to all the rights, title, interests, duties and liabilities of the Owner Trustee under the Operative Agreements (other than obligations attributable to any gross negligence or willful misconduct of Trust Company or any breach by the Owner Trustee of its obligations under the Operative Agreements); provided, however, that until the Lien of the Indenture on the -------- ------- Trust Estate shall have been discharged pursuant to the terms thereof, thereof the Owner Participant may not revoke such trusts without the consent of the Indenture Trustee. The written agreements and instruments referred to in the preceding sentence shall be reasonably satisfactory in form and substance to the Owner Trustee and shall release the Owner Trustee from all further obligations of the Owner Trustee hereunder and under the agreements and other instruments mentioned in the preceding sentence.