Master Administrator definition
Examples of Master Administrator in a sentence
Prior to the appointment of such Successor [Master Administrator], the Trustee shall be authorized and empowered to execute and deliver, on behalf of the [Master Administrator], as attorney-in-fact or otherwise, any and all documents and other instruments, and to do any and all acts or things necessary or appropriate to effect the purposes of such notice of termination, perform the duties of the [Master Administrator] hereunder.
The Sponsor, the [Master Administrator] and the Trustee on behalf of the Certificateholders have entered into this Agreement with the [Master Servicer] and the Servicer, respectively as to each, in reliance upon its ability to perform the servicing duties, if necessary, without any delegation thereof; the adequacy of its plant, personnel, records and procedures; its integrity, reputation and financial standing and the continuance of each of the foregoing.
If, at any time, the Cash Reserve Account ceases to be an Eligible Account, the [Master Administrator] on behalf of the Trustee shall within 20 Business Days establish a new Cash Reserve Account which shall be an Eligible Account, transfer any cash and/or any investments to such new Cash Reserve Account and from the date such new Cash Reserve Account is established, it shall be the "Cash Reserve Account".
The Servicer shall provide notice to the [Master Administrator], the [Master Servicer], the Trustee and the Rating Agency in writing promptly upon the appointment of any Subservicer.
If it removes the Trustee under the authority of the immediately preceding sentence, the [Master Administrator] shall promptly appoint a successor Trustee by written instrument, in quintuplicate, one counterpart of which instrument shall be delivered to each of the Sponsor, the [Master Servicer], the Servicer, the successor Trustee and the predecessor Trustee.
Such Successor [Master Administrator] shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the [Master Administrator] under this Agreement; provided further, that such Successor [Master Administrator] and the Trustee shall have no responsibility for any actions of the [Master Administrator] prior to the date of the appointment of such Successor [Master Administrator] as [Master Administrator].
Every Certificateholder, by receiving and holding an Investor Certificate, agrees with the Certificate Registrar and Transfer Agent and the Trustee that none of the Sponsor, the [Master Administrator], the Paying Agent, the Certificate Registrar and Transfer Agent nor the Trustee shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Certificateholders hereunder, regardless of the source from which such information was obtained.
The Trustee, at the request of an Authorized Officer of the [Master Administrator], shall furnish the [Master Administrator] with any limited powers of attorney or other documents prepared by the [Master Administrator] necessary or appropriate to enable the [Master Administrator] to carry out such duties.
Without otherwise limiting the scope of the examination, the [Master Administrator] and the Trustee may, using generally accepted auditing standards, verify the status of each Auto Loan and review the Loan Files, Electronic Ledger and records relating thereto for conformity to reports prepared pursuant to Section 4.19 and compliance with the standards represented to exist as to each Auto Loan in this Agreement.
The Servicer shall promptly report to the [Master Administrator], the [Master Servicer] and the Trustee any failure by it to hold the complete Loan Files as herein provided and shall promptly take appropriate action to remedy any such failure but only to the extent (i) any such failure is caused by the acts or omissions of the Servicer and (ii) such remedial action is otherwise within its capabilities or control.