Common use of Merger or Consolidation of Owner Trustee Clause in Contracts

Merger or Consolidation of Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 9.1; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the Rating Agencies not less than fifteen (15) days prior to the effective date thereof and (ii) the Owner Trustee shall file an amendment to the Certificate of Trust as required by Section 9.3.

Appears in 17 contracts

Samples: Trust Agreement (Usaa Federal Savings Bank), Trust Agreement (Bear Stearns Asset Backed Funding Inc), Trust Agreement (Usaa Federal Savings Bank Usaa Auto Owner Trust 2001-1)

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Merger or Consolidation of Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shallshall be the successor of the Owner Trustee hereunder, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 9.110.01; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the each Rating Agencies not less than fifteen (15) days prior to the effective date thereof Agency; and (ii) the provided, further, that such successor Owner Trustee shall file an amendment to the Certificate of Trust as required by described in Section 9.310.03.

Appears in 9 contracts

Samples: Trust Agreement (GS Auto Loan Trust 2005-1), Trust Agreement (Morgan Stanley Auto Loan Trust 2003-Hb1), Trust Agreement (SSB Vehicle Securities Inc SSB Auto Loan Trust 2002-1)

Merger or Consolidation of Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 9.1; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the Rating Agencies and the Depositor not less than fifteen (15) days prior to the effective date thereof and thereof, (ii) the Owner Trustee shall file an amendment to the Certificate of Trust as required by Section 9.39.3 and (iii) the Owner Trustee will provide the Depositor in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its reporting obligation under the Exchange Act with respect to the successor Owner Trustee.

Appears in 9 contracts

Samples: Trust Agreement (USAA Auto Owner Trust 2007-1), Trust Agreement (USAA Auto Owner Trust 2008-1), Trust Agreement (USAA Auto Owner Trust 2007-2)

Merger or Consolidation of Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 9.110.1; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the Rating Agencies not less than fifteen (15) days prior to the effective date thereof and (ii) the Owner Trustee shall file an amendment to the Certificate of Trust as required by Section 9.3thereof.

Appears in 5 contracts

Samples: Trust Agreement (Ford Motor Credit Co), Trust Agreement (Ford Credit Auto Receivables Two L P), Trust Agreement (Ford Motor Credit Co)

Merger or Consolidation of Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 9.110.1; and provided further, that (i) the Owner Trustee shall (i) mail notice of such merger or consolidation to the Rating Agencies not less than fifteen (15) days prior to the effective date thereof and (ii) the Owner Trustee shall file an amendment to the Certificate of Trust as required by Section 9.310.3.

Appears in 4 contracts

Samples: Trust Agreement (Ford Credit Auto Receivables Two LLC), Trust Agreement (Ford Credit Auto Receivables Two LLC), Trust Agreement (Ford Credit Auto Receivables Two LLC)

Merger or Consolidation of Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 9.1; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the Rating Agencies not less than fifteen (15) days prior to the effective date thereof and (ii) the Owner Trustee shall file an amendment to the Certificate of Trust as required by Section 9.39.3(d).

Appears in 3 contracts

Samples: Trust Agreement (Bear Stearns Asset Backed Whole Auto Loan Trust 2003-1), Trust Agreement (Bear Stearns Asset Backed Whole Auto Loan Trust 2004-1), Trust Agreement (Bear Stearns Asset Backed Funding Ii Inc)

Merger or Consolidation of Owner Trustee. Any corporation ---------------------------------------- into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shallshall be the successor of the Owner Trustee hereunder, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 9.1; and provided 10.01 and, provided, further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the Rating Agencies not less than fifteen (15) days prior to the effective date thereof and (ii) the Owner Trustee shall file an amendment to the Certificate of Trust as required by Section 9.3Agencies.

Appears in 2 contracts

Samples: Trust Agreement (First Horizon Asset Securities Inc), Trust Agreement (Deutsche Recreational Asset Funding Corp)

Merger or Consolidation of Owner Trustee. Any corporation Person into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation Person resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation Person succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shallshall be the successor of the Owner Trustee hereunder, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, be the successor of the Owner Trustee hereunder; provided that such corporation Person shall be eligible pursuant to Section 9.110.01; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the Administrator and the Administrator shall make such notice available to each Rating Agencies not less than fifteen (15) days prior to the effective date thereof Agency; and (ii) the provided further, that such successor Owner Trustee shall file an amendment to the Certificate of Trust as required by described in Section 9.3.10.03. 33 (2017-B Amended and Restated Trust Agreement)

Appears in 2 contracts

Samples: Trust Agreement (Hyundai Auto Receivables Trust 2017-B), Trust Agreement (Hyundai Auto Receivables Trust 2017-B)

Merger or Consolidation of Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided provided, that such corporation shall be eligible pursuant to Section 9.110.1; and provided provided, further, that (i) the Owner Trustee shall (i) mail notice of such merger or consolidation to the Rating Agencies not less than fifteen (15) days prior to the effective date thereof and (ii) the Owner Trustee shall file an amendment to the Certificate of Trust as required by Section 9.310.3.

Appears in 2 contracts

Samples: Trust Agreement (Ford Credit Auto Owner Trust 2004-A), Trust Agreement (Ford Credit Auto Owner Trust 2005-B)

Merger or Consolidation of Owner Trustee. Any corporation Person into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation Person resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation Person succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shallshall be the successor of the Owner Trustee hereunder, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, be the successor of the Owner Trustee hereunder; provided that such corporation Person shall be eligible pursuant to Section 9.110.01; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the each Rating Agencies not less than fifteen (15) days prior to the effective date thereof Agency; and (ii) the provided further, that such successor Owner Trustee shall file an amendment to the Certificate of Trust as required by described in Section 9.3.10.03. (2009-A Second Amended and Restated Trust Agreement)

Appears in 1 contract

Samples: Trust Agreement (Hyundai Abs Funding Corp)

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Merger or Consolidation of Owner Trustee. Any corporation Person into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation Person resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation Person succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shallshall be the successor of the Owner Trustee hereunder, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, be the successor of the Owner Trustee hereunder; provided that such corporation Person shall be eligible pursuant to Section 9.110.01; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the each Rating Agencies not less than fifteen (15) days prior to the effective date thereof Agency; and (ii) the provided further, that such successor Owner Trustee shall file an amendment to the Certificate of Trust as required by described in Section 9.3.10.03. (20[__]-[_] Amended and Restated Trust Agreement)

Appears in 1 contract

Samples: Trust Agreement (Hyundai Abs Funding Corp)

Merger or Consolidation of Owner Trustee. Any ---------------------------------------- corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shallshall be the successor of the Owner Trustee hereunder, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 9.110.01; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to each Rating Agency and the Rating Agencies not less than fifteen Note Insurer (15) days prior to the effective date thereof so long as no Note Insurer Default shall have occurred and (ii) the be continuing); and provided, further, that such successor Owner Trustee shall file an -------- ------- amendment to the Certificate of Trust as required by described in Section 9.310.03.

Appears in 1 contract

Samples: Trust Agreement (SSB Vehicle Securities Inc)

Merger or Consolidation of Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided provided, that such corporation shall be eligible pursuant to Section 9.1; and provided provided, further, that (i) the Owner Trustee shall (i) mail notice of such merger or consolidation to the Rating Agencies not less than fifteen (15) days prior to the effective date thereof and (ii) the Owner Trustee shall file an amendment to the Certificate of Trust as required by Section 9.3.

Appears in 1 contract

Samples: Trust Agreement (Ford Credit Auto Owner Trust 2005-C)

Merger or Consolidation of Owner Trustee. Any corporation Person into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation Person resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation Person succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shallshall be the successor of the Owner Trustee hereunder, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, be the successor of the Owner Trustee hereunder; provided that such corporation Person shall be eligible pursuant to Section 9.110.01; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the each Rating Agencies not less than fifteen (15) days prior to the effective date thereof Agency; and (ii) the provided further, that such successor Owner Trustee shall file an amendment to the Certificate of Trust as required by described in Section 9.3.10.03. (2011-A Amended and Restated Trust Agreement)

Appears in 1 contract

Samples: Trust Agreement (Hyundai Auto Receivables Trust 2011-A)

Merger or Consolidation of Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shallshall be the successor of the Owner Trustee hereunder, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 9.110.01; and provided further, that (i) the Owner Trustee shall mail notice of such merger or consolidation to the each Rating Agencies not less than fifteen (15) days prior to the effective date thereof Agency; and (ii) the provided further, that such successor Owner Trustee shall file an amendment to the Certificate of Trust as required by described in Section 9.310.03 if so required.

Appears in 1 contract

Samples: Master Trust Agreement (A I Receivables Transfer Corp)

Merger or Consolidation of Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shallshall be the successor of the Owner Trustee hereunder, provided such corporation shall be eligible pursuant to ss. 10.1, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided that such corporation shall be eligible pursuant to Section 9.1; and provided further, that further (i) that the Owner Trustee shall mail notice of such merger or consolidation to the Rating Agencies not less than fifteen (15) days prior to Agencies, the effective date thereof Depositor and the Master Servicer and (ii) the any successor Owner Trustee shall file an amendment to the Certificate of Trust as required by Section 9.310.3.

Appears in 1 contract

Samples: Trust Agreement (Household Auto Receivables Corp)

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