Acceptance by Grantor Trustee; Authentication of Grantor Trust Certificate. As of the Closing Date, the Grantor Trustee acknowledges the conveyance to it of the Grantor Trust Estate, including all right, title and interest of the Depositor in and to the Grantor Trust Estate, receipt of which is hereby acknowledged by the Grantor Trustee and declares that the Grantor Trustee holds and will hold the Home Loans, rights and agreements and other property, including property yet to be received in the Grantor Trust Estate, in trust, upon the trusts herein set forth, for the benefit of all present and future Grantor Trust Holders. Concurrently with such receipt and assignment, the Grantor Trustee has executed, authenticated and delivered to or upon the order of the Depositor, the Grantor Trust Certificate duly authenticated by the Grantor Trustee in the authorized percentage of 100% Percentage Interest and evidencing the entire beneficial ownership of the Grantor Trust Estate.
Appears in 4 contracts
Samples: Grantor Trust Agreement (Painewebber Mortgage Acceptance Corporation Iv), Grantor Trust Agreement (Empire Funding Home Loan Owner Trust 1997-5), Grantor Trust Agreement (Painewebber Mortgage Acceptance Corporation Iv)
Acceptance by Grantor Trustee; Authentication of Grantor Trust Certificate. As of the Closing Date, the Grantor Trustee acknowledges the conveyance to it of the Grantor Trust Estate, including all right, title and interest of the Depositor in and to the Grantor Trust Estate, receipt of which is hereby acknowledged by the Grantor Trustee and declares that the Grantor Trustee holds and will hold the Home Loans, rights and agreements and other property, including property yet to be received in the Grantor Trust Estate, in trust, upon the trusts herein set forth, for the benefit of all present and future Grantor Trust Holders. Concurrently with such receipt and assignment, the Grantor Trustee has executed, authenticated and delivered to or upon the written order of the Depositor, the Grantor Trust Certificate duly authenticated by the Grantor Trustee in the authorized percentage of 100% Percentage Interest and evidencing the entire beneficial ownership of the Grantor Trust Estate.
Appears in 2 contracts
Samples: Grantor Trust Agreement (Master Financial Asset Securitization Trust 1998-2), Grantor Trust Agreement (Master Financial Asset Securitization Trust 1998-2)
