Common use of Business of Trust Clause in Contracts

Business of Trust. (a) The Trustee and the Delaware Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue and be sued on behalf of the Trust or in the name of the Trust, suxxxct to the terms of the Series Trust Agreement. In order to effectuate the purpose of the Trust, on the Closing Date the Trustee shall, on behalf of the Trust, (i) acquire from the Depositor (or such other Person as may be specified in the Forepart) the Underlying Securities and other Trust Assets specified in the Forepart for the benefit of the Certificateholders; (ii) issue the Certificates; (iii) execute and deliver the Indenture and then execute, issue and deliver the Notes; (iv) pledge and deliver the Trust Assets and any proceeds thereof to the Indenture Trustee pursuant to the terms of the Indenture and hold and distribute to the Certificateholders pursuant to the terms hereof any moneys released from the lien of the Indenture; (v) with the proceeds of the sale of the Certificates and Notes pay the Depositor (or other Person) the purchase price of the Underlying Securities and other Trust Assets; (vi) enter into the Swap Agreement and any Related Agreement; (vii) execute any Credit Enhancement Agreement; and (viii) enter into such other agreements, execute such other documents and take such other actions as the Depositor may direct in conjunction with the issuance of the Certificates and the Notes, on the Closing Date. (b) It is the intention of the parties hereto that the Trust constitute a statutory trust under the Trust Statute and that this Series Trust Agreement constitute the governing instrument of the Trust. Effective as of the date hereof, the Trustee shall have all rights, powers and duties set forth herein and in the Trust Statute with respect to accomplishing the purposes of the Trust.

Appears in 1 contract

Samples: Series Trust Agreement (Corporate Asset Backed Corp)

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Business of Trust. (a) The Trustee and the Delaware Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue and xxd be sued on behalf of the Trust or in the name of the Trust, suxxxct subject to the terms of the Series Trust Agreement. In order to effectuate the purpose of the Trust, on the Closing Date the Trustee shall, on behalf of the Trust, (i) acquire from the Depositor (or such other Person as may be specified in the Forepart) the Underlying Securities and other Trust Assets specified in the Forepart for the benefit of the Certificateholders; (ii) issue the Certificates; (iii) execute and deliver the Indenture and then execute, issue and deliver the Notes; (iv) pledge and deliver the Trust Assets and any proceeds thereof to the Indenture Trustee pursuant to the terms of the Indenture and hold and distribute to the Certificateholders pursuant to the terms hereof any moneys released from the lien of the Indenture; (v) with the proceeds of the sale of the Certificates and Notes pay the Depositor (or other Person) the purchase price of the Underlying Securities and other Trust Assets; (vi) enter into the Swap Agreement and any Related Agreement; (vii) execute any Credit Enhancement Agreement; and (viii) enter into such other agreements, execute such other documents and take such other actions as the Depositor may direct in conjunction with the issuance of the Certificates and the Notes, on the Closing Date. (b) It is the intention of the parties hereto that the Trust constitute a statutory trust under the Trust Statute and that this Series Trust Agreement constitute the governing instrument of the Trust. Effective as of the date hereof, the Trustee shall have all rights, powers and duties set forth herein and in the Trust Statute with respect to accomplishing the purposes of the Trust.

Appears in 1 contract

Samples: Series Trust Agreement (Corporate Asset Backed Corp)

Business of Trust. (a) The Trustee and the Delaware Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of EXHIBIT 4.3 the Trust and sue xxx and be sued on behalf of the Trust or in the name of the Trust, suxxxct subject to the terms of the Series Trust Agreement. In order to effectuate the purpose of the Trust, on the Closing Date the Trustee shall, on behalf of the Trust, (i) acquire from the Depositor (or such other Person as may be specified in the Forepart) the Underlying Securities and other Trust Assets specified in the Forepart for the benefit of the Certificateholders; (ii) issue the Certificates; (iii) execute and deliver the Indenture and then execute, issue and deliver the Notes; (iv) pledge and deliver the Trust Assets and any proceeds thereof to the Indenture Trustee pursuant to the terms of the Indenture and hold and distribute to the Certificateholders pursuant to the terms hereof any moneys released from the lien of the Indenture; (v) with the proceeds of the sale of the Certificates and Notes pay the Depositor (or other Person) the purchase price of the Underlying Securities and other Trust Assets; (vi) enter into the Swap Agreement and any Related Agreement; (vii) execute any Credit Enhancement Agreement; and (viii) enter into such other agreements, execute such other documents and take such other actions as the Depositor may direct in conjunction with the issuance of the Certificates and the Notes, on the Closing Date. (b) It is the intention of the parties hereto that the Trust constitute a statutory trust under the Trust Statute and that this Series Trust Agreement constitute the governing instrument of the Trust. Effective as of the date hereof, the Trustee shall have all rights, powers and duties set forth herein and in the Trust Statute with respect to accomplishing the purposes of the Trust.

Appears in 1 contract

Samples: Series Trust Agreement (Corporate Asset Backed Corp)

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Business of Trust. (a) The Trustee and the Delaware Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue and xxd be sued on behalf of the Trust or in the name of the Trust, suxxxct subject to the terms of the Series Trust Agreement. In order to effectuate the purpose of the Trust, on the Closing Date the Trustee shall, on behalf of the Trust, (i) acquire from the Depositor (or such other Person as may be specified in the Forepart) the Underlying Securities and other Trust Assets specified in the Forepart for the benefit of the Certificateholders; (ii) issue the Certificates; (iii) execute and deliver the Indenture and then execute, issue and deliver the Notes; (iv) pledge and deliver the Trust Assets and any proceeds thereof to the Indenture Trustee pursuant to the terms of the Indenture and hold and distribute to the Certificateholders pursuant to the terms hereof any moneys released from the lien of the Indenture; (v) with the proceeds of the sale of the Certificates and Notes pay the Depositor (or other Person) the purchase price of the Underlying Securities and other Trust Assets; (vi) enter into the Swap Agreement and any Related Agreement; (vii) execute any Credit Enhancement Agreement; and (viii) enter into such other agreements, execute such other documents and take such other actions as the Depositor may direct in conjunction with the issuance of the Certificates and the Notes, on the Closing Date. (b) It is the intention of the parties hereto that the Trust constitute a statutory business trust under the Trust Statute and that this Series Trust Agreement constitute the governing instrument of the Trust. Effective as of the date hereof, the Trustee shall have all rights, powers and duties set forth herein and in the Trust Statute with respect to accomplishing the purposes of the Trust.

Appears in 1 contract

Samples: Series Trust Agreement (Corporate Asset Backed Corp)

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