Common use of Authentication and Delivery of Certificates Clause in Contracts

Authentication and Delivery of Certificates. The Trustee shall cause to be authenticated and delivered to or upon the written order of the Depositor, in exchange for the Receivables and other Trust Property, simultaneously with the sale, assignment and transfer to the Trustee on behalf of the Trust of the Receivables, and the constructive delivery to the Trustee of the Receivables Files and the other components of the Trust existing as of the Closing Date, Certificates in authorized denominations equaling in the aggregate the sum of the Initial Class A Principal Balance and the Initial Class B Principal Balance, and evidencing the entire ownership of the Trust. No Certificate shall entitle the Holder thereof to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication, substantially in the form set forth in the form of Certificates attached hereto as Exhibit A and Exhibit B respectively, executed by the Trustee or any Authenticating Agent appointed pursuant to Section 6.12 of this Agreement by manual signature. Such authentication shall constitute conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder. All Certificates issued on the Closing Date shall be dated the Closing Date. Any Certificates issued thereafter shall be dated the date of their authentication.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Mellon Auto Grantor Trust 1999-1), Pooling and Servicing Agreement (Mellon Auto Grantor Trust 2000-2), Pooling and Servicing Agreement (Mellon Auto Grantor Trust 2000-1)

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Authentication and Delivery of Certificates. The Trustee shall cause to be authenticated and delivered to or upon the written order of the Depositor, in exchange for the Receivables and other Trust Property, simultaneously with the sale, assignment and transfer to the Trustee on behalf of the Trust of the Receivables, and the constructive delivery to the Trustee of the Receivables Files and the other components of the Trust existing as of the Closing Date, Certificates in authorized denominations equaling in the aggregate the sum of the Initial Original Class A Principal Balance and the Initial Original Class B Principal Balance, and evidencing the entire ownership of the Trust. No Certificate shall entitle the Holder thereof to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication, substantially in the form set forth in the form of Certificates attached hereto as Exhibit A and Exhibit B respectively, executed by the Trustee or any Authenticating Agent appointed pursuant to Section 6.12 of this Agreement by manual signature. Such authentication shall constitute conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder. All Certificates issued on the Closing Date shall be dated the Closing Date. Any Certificates issued thereafter shall be dated the date of their authentication.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Barnett Auto Receivables Corp), Pooling and Servicing Agreement (Mellon Auto Receivables Corp)

Authentication and Delivery of Certificates. The Trustee shall cause to be authenticated and delivered to or upon the written order of the DepositorSeller, in exchange for the Receivables and other Trust Property, simultaneously with the sale, assignment and transfer to the Trustee on behalf of the Trust of the Receivables, and the constructive delivery to the Trustee of the Receivables Files and the other components of the Trust existing as of the Closing Date, Certificates duly authenticated by the Trustee in authorized denominations equaling in the aggregate the sum of the Initial Original Class A Principal Balance and the Initial Original Class B Principal Balance, and evidencing the entire ownership of the Trust. No Certificate shall entitle the Holder thereof to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication, substantially in the form set forth in the form of Certificates attached hereto as Exhibit A and Exhibit B respectively, executed by the Trustee or any Authenticating Agent appointed pursuant to Section 6.12 of this Agreement by manual signature. Such authentication shall constitute conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder. All Certificates issued on the Closing Date shall be dated the Closing Date. Any Certificates issued thereafter shall be dated the date of their authentication.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bank One Auto Securitization LLC), Pooling and Servicing Agreement (Bank One Texas National Association)

Authentication and Delivery of Certificates. The On the ------------------------------------------- Closing Date, the Owner Trustee shall cause to be authenticated and delivered to or upon the written order of the Depositordelivered, in exchange for the Receivables and the other Trust Propertyassets of the Issuer, simultaneously with the sale, assignment and transfer to the Trustee on behalf of the Trust Issuer of the Receivables, and the constructive delivery to the Owner Trustee of the Receivables Receivable Files and the other components assets of the Trust existing as of the Closing DateIssuer, Certificates in authorized denominations equaling in duly authenticated by the aggregate the sum of the Initial Class A Principal Balance and the Initial Class B Principal BalanceOwner Trustee, and evidencing the entire ownership of the TrustIssuer, in aggregate principal amount equal to the Initial Certificate Balance. No Certificate shall entitle the its Holder thereof to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication, authentication substantially in the form set forth in the form of Certificates attached hereto as Exhibit A and Exhibit B respectivelyA, executed by the Owner Trustee or any Authenticating Agent appointed pursuant to Section 6.12 of this Agreement its authenticating agent, by manual signature. Such ; and such authentication shall constitute conclusive evidence, and the only evidence, evidence that such Certificate has shall have been duly authenticated and delivered hereunder. All Certificates issued on the Closing Date shall be dated the Closing Date. Any Certificates issued thereafter shall be dated the date of their authentication. Upon issuance, authentication and delivery pursuant to the terms hereof, the Certificates will be entitled to the benefits of this Agreement.

Appears in 1 contract

Samples: Trust Agreement (Pooled Auto Securities Shelf LLC)

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Authentication and Delivery of Certificates. The Trustee shall cause to be authenticated and delivered to or upon the written order of the DepositorSeller, in exchange for the Receivables and other Trust Property, simultaneously with the sale, assignment and transfer to the Trustee on behalf of the Trust of the Receivables, and the constructive delivery to the Trustee of the Receivables Files and the other components of the Trust existing as of the Closing Date, Certificates duly authenticated by the Trustee in authorized denominations equaling in the aggregate the sum of the Initial Original Class A Principal Balance and the Initial Original Class B Principal Balance, and evidencing the entire ownership of the Trust. No Certificate shall entitle the Holder thereof to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication, substantially in the form set forth in the form of Certificates attached hereto as Exhibit A and Exhibit B respectively, executed by the Trustee or any Authenticating Agent appointed pursuant to Section 6.12 of this Agreement by manual signature. Such authentication shall constitute conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder. All Certificates issued on the Closing Date shall be dated the Closing Date. Any Certificates issued thereafter shall be dated the date of their authentication.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bank One Texas National Association)

Authentication and Delivery of Certificates. The On the Closing Date, the Owner Trustee shall cause to be authenticated and delivered to or upon the written order of the Depositordelivered, in exchange for the Receivables and the other Trust Propertyassets of the Issuer, simultaneously with the sale, assignment and transfer to the Trustee on behalf of the Trust Issuer of the Receivables, and the constructive delivery to the Owner Trustee of the Receivables Receivable Files and the other components assets of the Trust existing as of the Closing DateIssuer, Certificates in authorized denominations equaling in duly authenticated by the aggregate the sum of the Initial Class A Principal Balance and the Initial Class B Principal BalanceOwner Trustee, and evidencing the entire ownership of the TrustIssuer, in aggregate principal amount equal to the Initial Certificate Balance. No Certificate shall entitle the its Holder thereof to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication, authentication substantially in the form set forth in the form of Certificates attached hereto as Exhibit A and Exhibit B respectivelyA, executed by the Owner Trustee or any Authenticating Agent appointed pursuant to Section 6.12 of this Agreement its authenticating agent, by manual signature. Such ; and such authentication shall constitute conclusive evidence, and the only evidence, evidence that such Certificate has shall have been duly authenticated and delivered hereunder. All Certificates issued on the Closing Date shall be dated the Closing Date. Any Certificates issued thereafter shall be dated the date of their authentication. Upon issuance, authentication and delivery pursuant to the terms hereof, the Certificates will be entitled to the benefits of this Agreement.

Appears in 1 contract

Samples: Trust Agreement (Pooled Auto Securities Shelf LLC)

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