Activities of Trust. (a) Other than in connection with the transactions contemplated by this Agreement or the Note Documents, the Trustee on behalf of the Applicable Trust shall not (i) borrow money or issue debt or (ii) merge with another entity, reorganize, liquidate or sell its assets.
(b) The activities of the Trustee engaged in on behalf of the Applicable Trust shall be limited to those activities authorized by this Agreement or the Note Documents.
Activities of Trust. The Trust will not engage in any business or activity of any kind or enter into any transaction which is not directly related to the purchase, sale and leasing of Nuclear Fuel pursuant to the Lease Agreement and the financing thereof in the manner contemplated by the Credit Agreement, the Agreements, the Depositary Agreement and the Basic Agreements.
Activities of Trust. 4 Section 2.10 Representations and Warranties of the Depositor.......... 6
Activities of Trust. It is the intention of the parties hereto that the Trust shall not engage in any business or activities other than in connection with, or relating to, the purposes specified in Section 2.03. The operations of the Trust will be conducted in accordance with the following standards (and the Depositor hereby agrees to use its best efforts to cause the operations of the Trust to be conducted in accordance herewith) and each Certificateholder and each holder of an Ownership Interest (by its acquisition thereof) shall have been deemed to have agreed to comply with the following:
(i) The Trust will observe all procedures required by this Agreement.
(ii) Except as otherwise provided in Section 4 of this Agreement and in the Administration Agreement, the business and affairs of the Trust will be managed by or under the direction of the Depositor. Except as otherwise expressly provided in this Agreement, none of any Certificateholder, the Depositor or any of its Affiliates will have authority to act for, or to assume any obligation or responsibility on behalf of, the Trust.
(iii) The Trust will keep correct and complete books and records of accounts and shall maintain such books and records separate from those of the Depositor or any subsidiary, affiliate or separate account of the Depositor, each Certificateholder and any other person or entity. Any such books and records will be continuously maintained by the Administrator as official records of the Trust.
(iv) Each of the Depositor and the Trust will provide for its own operating expenses and liabilities from its own funds. General overhead and administrative expenses of the Trust will not be charged or otherwise allocated to the Depositor or its Affiliates and such expenses of the Depositor or its Affiliates will not be charged or otherwise allocated to the Trust.
(v) The Trust will conduct its business under names or tradenames so as not to mislead others as to the identity of the Trust. Without limiting the generality of the foregoing, all oral and written communications, including letters, invoices, contracts, statements and applications will be made solely in the name of the Trust if related to the Trust. None of the Trust, the Depositor or any Affiliate or any Certificateholder shall fail to correct any misunderstanding regarding the separate identity of the Trust.
(vi) There will be no financing of operations or guarantees made by the Trust with respect to obligations of any Certificateholder or of the Depo...
Activities of Trust. 8 2.08. Duties of Owner Trustee.............................................. 9 2.09. Instructions of the Co-Trustees...................................... 10 2.10. Furnishing of Documents.............................................. 11 2.11.
Activities of Trust. (a) The nature of the business or purposes to be conducted or promoted by the Trust is to engage in the following activities:
(i) to enter into the Purchase Agreement and to acquire from time to time all right, title and interest in and to receivables arising out of or relating to the financing of automobile purchases (the "Receivables"), including monies due thereunder, security interests in the vehicles and other goods financed thereby, proceeds from claims on insurance policies related thereto, and related rights;
(ii) to acquire, own, hold, sell, transfer, assign, pledge, finance, refinance and otherwise deal in or with Receivables;
(iii) to receive cash contributions from any Certificateholder;
(iv) to sell, transfer, assign, pledge and otherwise deal in or with any or all of its ownership interest in Receivables;
(v) to own interests in other entities created for the purpose of engaging in the foregoing activities; and
(vi) to enter into any other agreements and to engage in any other acts and activities and to execute any powers permitted to business trusts under the Business Trust Statute that are incidental, advantageous or necessary to the foregoing.
(b) Notwithstanding any other provisions of this Agreement and any provision of law that otherwise so empowers the Trust, the Trust shall not, engage in any business or activity other than those set forth in subsection (a).
Activities of Trust. (a) The Trust shall not engage in ------------------- any activities other than those required or authorized by the terms of this Trust Agreement relating to the issuance, sale and payment of the Certificates in accordance with their terms and the terms of the Note Documents, relating to the acquisition, management, collection and holding of the Senior Notes and the collection and distribution of moneys deposited in the Certificate Account and the Special Payment Account, all in accordance with this Trust Agreement and the Indenture.
(b) The Pass Through Trustee is hereby authorized to take any and all actions on behalf of the Trust in connection with the issuance and sale of the Certificates and the purchase of the Senior Notes. In furtherance of the foregoing, the Pass Through Trustee, simultaneously with the execution and delivery of the Trust Agreement, shall also execute and deliver the other Trust Documents on behalf of the Trust.
(c) The Trust is constituted solely for the purpose of making the investment in the Senior Notes, and, except as set forth herein, the Pass Though Trustee is not authorized or empowered to acquire any other investments or engage in any other activities and, in particular, the Pass Through Trustee is not authorized or empowered to do anything that would cause the Trust to fail to qualify as a "grantor trust" for U.S. federal income tax purposes.
Activities of Trust. The Trust shall not engage in any activities other than those required or authorized by the terms of this Agreement or the Indenture.
Activities of Trust. (a) Subject to Section 2.08, the Trust shall have the power and authority and is hereby authorized to engage in the following activities:
(i) to receive a contribution of 20,000,000 shares of Class B Stock (the “Shares”) from or on behalf of the Depositor;
(ii) to acquire, own, hold, vote, sell, transfer, assign, pledge, finance, refinance and otherwise deal in or with any or all of its ownership interest in the Shares, in accordance with the terms hereof;
(iii) to issue the Certificates pursuant to this Agreement and to sell or dividend the Certificates to the Initial Certificateholders as provided herein;
(iv) to negotiate, authorize, execute, deliver, assume the obligations under, and perform, any agreement, instrument or document relating to the activities set forth in clauses (i) through (iii) above, and to engage in any other acts and activities and to execute any powers permitted to statutory trusts under the Delaware Trust Statute that are incidental, advantageous or necessary to the foregoing.
(b) Notwithstanding any other provisions of this Agreement and any provision of law that otherwise so empowers the Trust, the Trust shall not engage in any business or activity other than those set forth in subsection (a).
Activities of Trust. (a) The nature of the business or purposes to be conducted or promoted by the Trust is, and the Trust shall have the power and authority, to engage in the following activities, in each case solely in accordance with the terms of the Underlying Transaction Documents, or as otherwise agreed to in writing by the Depositor, the Owner Trustee, FSA and the Master Collateral Agent:
(i) to acquire from time to time all right, title and interest in and to the Residual Certificates for each of the Underlying Trusts, subject, in each case, to any prior security interests granted therein by the Depositor or the Trust;
(ii) to acquire from time to time all right, title and interest in and to the Spread Accounts for each of the Underlying Trusts, subject, in each case, to any prior security interests granted therein by the Depositor or the Trust, including monies due thereunder and any and all related rights;
(iii) to acquire, own, hold, sell, transfer, assign, pledge, finance, refinance and otherwise deal in or with the Residual Certificates;
(iv) to receive cash contributions from any Certificateholder;
(v) to sell, transfer, assign, pledge and otherwise deal in or with any or all of its ownership interest in the Residual Certificates;
(vi) to own interests in other entities created for the purpose of engaging in the foregoing activities;
(vii) to acquire and to hold, sell, transfer or pledge receivables in connection with a Series sponsored by AmeriCredit;
(viii) to enter into any agreement providing for the sale, transfer or pledge of receivables to affiliated entities, trusts or indenture trustees in connection with Series sponsored by AmeriCredit;
(ix) to enter into any agreement, including but not limited to the Administration Agreement, relating to any receivables that provides for the administration, servicing and collection of amounts due on such receivables in connection with Series sponsored by AmeriCredit;
(x) to sell any class of asset-backed securities or certificates or other securities issued by affiliated entities or the trusts and to hold subordinate securities issued by such affiliated entities or trusts;
(xi) to enter into any agreement with FSA relating to the insurance or guaranty of any asset-backed securities, certificates or other securities issued by any affiliate of or the trust which may include provisions for non-recourse reimbursement by the Trust for payments made in connection with any such insurance or guaranty or the pledge of collater...