Common use of Authentication of Certificate Clause in Contracts

Authentication of Certificate. Simultaneously with the assignment and transfer to the Trust of the Transferred Assets (as defined in the Depositor Transfer and Sale Agreement) pursuant to the Depositor Transfer and Sale Agreement and the delivery to the Trust Eligible Lender Trustee and the Co-Owner Trustee of the Financed Student Loans and the other Trust Property, respectively, the Co-Owner Trustee shall execute the Certificate and shall cause the Certificate to be authenticated by the Authentication Agent and delivered to or upon the order of the Depositor. No Certificate shall entitle its Holder to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication, executed by the Authentication Agent, by manual signature; such authentication shall constitute conclusive evidence that such Certificate shall have been duly authenticated and delivered hereunder. The Co-Owner Trustee is hereby initially appointed Authentication Agent. The Certificate shall be dated the date of its authentication.

Authentication of Certificate. Simultaneously with the assignment and transfer to the Trust of the Transferred Assets (as defined in the Depositor Transfer and Sale Agreement) Trust Property pursuant to the Depositor Transfer and Sale Agreement and the delivery to the Trust Co-Owner Eligible Lender Trustee and the Co-Owner Trustee of the Financed Student Loans and the other Trust Property, respectively, the Co-Owner Delaware Trustee shall execute the Certificate and shall cause the Certificate to be authenticated by the Authentication Agent and delivered to or upon the order of the Depositor. No Certificate shall entitle its Holder to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication, executed by the Authentication Agent, by manual signature; such authentication shall constitute conclusive evidence that such Certificate shall have been duly authenticated and delivered hereunder. The Co-Owner Trustee is hereby initially appointed Authentication Agent. The Certificate shall be dated the date of its authentication.