Certificateholder or Holder. The person in whose name a Certificate is registered in the Certificate Register, except that solely for the purposes of giving any consent or direction pursuant to this Agreement, (i) any Certificate registered in the name of the Depositor, the Master Servicer, the Securities Administrator, the Trustee or any Affiliate thereof shall be deemed not to be outstanding and the Percentage Interest evidenced thereby shall not be taken into account in determining whether the requisite percentage of
... Percentage Interests necessary to effect any such consent has been obtained and (ii) the Designated Entity, if any, shall be deemed to be the Holder of any Class of Designated Certificates, if any (which Designated Entity shall not have any fiduciary duties with respect to the person in whose name such Class of Designated Certificates is registered) until such time as such Designated Entity shall be terminated pursuant to a written notice by the Underwriter addressed to the Trustee and the Securities Administrator and acknowledged and agreed to by the Designated Entity. The Trustee or the Securities Administrator, and the NIMS Insurer, if any, may conclusively rely upon a certificate of the Depositor, the Seller or the Master Servicer in determining whether a Certificate is held by an Affiliate thereof. All references herein to "Holders" or "Certificateholders" shall reflect the rights of Certificate Owners as they may indirectly exercise such rights through the Depository and participating members thereof, except as otherwise specified herein; provided, however, that the Trustee or the Securities Administrator shall be required to recognize as a "Holder" or "Certificateholder" only the Person in whose name a Certificate is registered in the Certificate Register.
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