Certification of Transferor Interest. (a) The Transferor shall initially hold the Transferor Interest in the form of an uncertificated interest. The Transferor may elect at any time, by written notice to the Owner Trustee, to have the Transferor Interest be evidenced by a Certificate. If the Transferor elects to have the Transferor Interest be in certificated form, the Certificate will be issued in registered form, substantially in the form of Exhibit C, and shall be executed and delivered by the Owner Trustee to the Transferor. Upon issuance, the Certificate shall be a single certificate and shall represent the entire Transferor Interest. If, after electing to have the Transferor Interest evidenced by the Certificate, the Transferor elects to have the Transferor Interest be an uncertificated interest, the Transferor shall deliver to the Owner Trustee for cancellation the Certificate previously issued to the Transferor.
Appears in 6 contracts
Samples: Trust Agreement (First Horizon Asset Sec HELOC Notes Ser 2006-He1), Trust Agreement (Fund America Investors Corp Ii), Trust Agreement (First Horizon Asset Sec HELOC Notes Ser 2007-He1)
