Trust Collateral Agent and Back-up Servicer May Own Notes. The Trust Collateral Agent and the Back-up Servicer in their respective individual or any other capacities may become the owner or pledgee of Notes and may deal with the Transferor and the Servicer in banking transactions with the same rights as it would have if it were not Trust Collateral Agent or Back-up Servicer, as applicable.
Appears in 10 contracts
Sources: Sale and Servicing Agreement (Long Beach Acceptance Receivables Corp. II), Sale and Servicing Agreement (Long Beach Acceptance Auto Receivables Trust 2005-A), Sale and Servicing Agreement (Long Beach Acceptance Corp. Auto Receivables Trust 2006-A)