Common use of Acceptance by Trustee; Representative Clause in Contracts

Acceptance by Trustee; Representative. The Trustee hereby acknowledges receipt by it, or by a custodian on its behalf, of the related Conveyed Assets now existing or hereafter acquired, and the related documents referred to in Section 2.01, and declares that it will hold such Conveyed Assets and all other documents delivered to it pursuant to this Agreement, and that it will hold all such assets and such other assets (including Trust Estate acquired from a Person other than the Depositor) comprising the Trust for the Certificates, in trust for the exclusive use and benefit of all present and future Certificateholders and for the purposes and subject to the terms and conditions set forth in this Agreement. [The Trustee shall act as the Representative with respect to each Agency Security and will perform the duties and obligations of the Representative as provided in the related Agency Security for the benefit of the Certificateholders.] Concurrently with the delivery to it by the Depositor of the property included in the Trust Fund the Trustee has executed and caused to be authenticated and delivered, to or upon the order of the Depositor, in exchange for such property, the Certificates, duly authenticated by the Certificate Registrar, in authorized denominations and Percentage Interests evidencing in the aggregate beneficial ownership of the entire Trust Fund.

Acceptance by Trustee; Representative. The Trustee hereby acknowledges receipt by it, or by a custodian on its behalf, of the related Conveyed Assets now existing or hereafter acquired, and the related documents referred to in Section 2.01, and declares that it will hold such Conveyed Assets and all other documents delivered to it pursuant to this Agreement, and that it will hold all such assets and such other assets (including Trust Estate acquired from a Person other than the Depositor) comprising the Trust for the Certificates, in trust for the exclusive use and benefit of all present and future Certificateholders and for the purposes and subject to the terms and conditions set forth in this Agreement. [The Trustee shall act as the Representative representative with respect to each Agency Security and will perform the duties and obligations of the Representative representative as provided in the related Agency Security for the benefit of the Certificateholders.] ; provided, however, that the Trustee may delegate this duty to the Securities Administrator. Concurrently with the delivery to it by the Depositor of the property included in the Trust Fund the Trustee has executed and caused to be authenticated and delivered, to or upon the order of the Depositor, in exchange for such property, the Certificates, duly authenticated by the Certificate Registrar, in authorized denominations and Percentage Interests evidencing in the aggregate beneficial ownership of the entire Trust Fund.