Common use of Conveyance of Trust Assets Clause in Contracts

Conveyance of Trust Assets. (a) The Settlor (i) shall, from time to time, and shall from time to time direct Dealers to, pursuant to the related Lease Agreements, assign to the Titling Trust or the Owner Trustee on behalf of the Titling Trust, in trust, Lease Agreements, Leased Vehicles and other Trust Assets and (ii) shall, from time to time, direct the Titling Trust to originate Lease Agreements and to take title and possession of such Lease Agreements, the related Leased Vehicles and the other related Trust Assets. In connection therewith, the Leased Vehicles will be titled in the name of the Titling Trust and the Owner Trustee shall accept such designation and, subject to the other terms of this Agreement, shall permit the related Certificates of Title to be issued in the name of the Titling Trust. Legal title to all Trust Assets shall be vested in the Titling Trust as a separate legal entity except to the extent otherwise specifically provided herein or in any other Trust Document or where applicable state law requires any Trust Asset to be vested otherwise, in which case the Owner Trustee shall, at the direction of the Settlor or the related Series Servicer, cause legal title to be held as required thereby. (b) Lienholders may be identified on such Certificates of Title as permitted or required by any agreements entered into by the Titling Trust pursuant to Section 1.1(b). (c) The Owner Trustee hereby accepts and agrees to hold in trust all Trust Assets conveyed to it hereunder, for the use and benefit of, and as nominee holder of legal title for, the Certificateholder and their respective successors and assigns.

Conveyance of Trust Assets. (a) The Settlor (i) shall, from time to time, and UTI Beneficiary shall from time to time direct Dealers to, pursuant to the related Lease Agreements, Agreements to assign to the Titling Trust or the Owner Trustee on behalf of the Titling Trust, in trust, Lease AgreementsEligible Leases, Leased Vehicles and other Trust Assets and (ii) shall, from time to time, direct the Titling Trust to originate Lease Agreements and to take title and possession of such Lease Agreements, the related Leased Vehicles and the other related Trust Assets. In connection therewith, the Leased Vehicles will shall be titled in the name of the Titling Trust or the Trustee on behalf of the Trust and the Owner Trustee shall accept such designation and, subject to the other terms of this AgreementAgreement (including each relevant Supplement), shall permit the related Certificates of Title to be issued in the name of the Trust or the Trustee on behalf of the Trust. If so provided in an applicable Supplement, all or part of the Leased Vehicles allocated to a Sub-Trust may be titled in the name of the Trust or the Trustee on behalf of the Trust during a Titling TrustGrace Period. Legal title to all Trust Assets shall be vested in the Titling Trust or the Trustee on behalf of the Trust as a separate legal entity except to the extent otherwise specifically provided herein or in any other Trust Document or where applicable state law requires any Trust Asset to be vested otherwise, in which case the Owner Trustee shall, at the direction of the Settlor UTI Beneficiary or the related Series Servicer, cause legal title to be held as required thereby. (b) Lienholders may be identified on such Certificates of Title as permitted or required by any agreements entered into by the Titling Trust pursuant to Section 1.1(b). (c) The Owner Trustee hereby accepts and agrees to hold in trust all Trust Assets conveyed to it hereunder, for the use and benefit of, and as nominee holder of legal title for, the Certificateholder Beneficiaries and the Holders and their respective successors and assignsassigns as may be designated pursuant to the terms hereof or as may otherwise succeed to the rights of a Beneficiary or Holder hereunder.

Conveyance of Trust Assets. (a) The Settlor (i) shall, from time to time, and UTI Beneficiaries shall from time to time direct Dealers toassign, pursuant transfer, grant or convey (or cause to be assigned, transferred, granted or conveyed) to the related Lease Agreements, assign to the Titling Trust or the Owner Trustee on behalf of the Titling Trust, in trust, Lease AgreementsEligible Leases, Leased Vehicles and other Trust Assets and (ii) shall, from time to time, direct the Titling Trust to originate Lease Agreements and to take title and possession of such Lease Agreements, the related Leased Vehicles and the other related Trust Assets. In connection therewith, the Leased Vehicles will shall be titled in the name of the Titling Trust or the Trustee on behalf of the Trust and the Owner Trustee shall accept such designation and, subject to the other terms of this AgreementAgreement (including each applicable Supplement), shall permit the related Certificates of Title to be issued in the name of the Trust or the Trustee on behalf of the Trust. If so provided in an applicable Supplement, all or part of the Vehicles allocated to a Sub-Trust may be titled in the name of the Trust or the Trustee on behalf of the Trust during a Titling TrustGrace Period. Legal title to all Trust Assets shall be vested in the Titling Trust or the Trustee on behalf of the Trust as a separate legal entity except to the extent otherwise specifically provided herein or in any other Trust Document or where applicable state law requires any Trust Asset to be vested otherwise, in which case the Owner Trustee shall, at the direction of the Settlor UTI Beneficiaries or the related Series ServicerAdministrative Agent, cause legal title to be held as required thereby. (b) Lienholders may be identified on such Certificates of Title as permitted or required by any agreements entered into by the Titling Trust pursuant to Section 1.1(b). (c) The Owner Trustee hereby accepts and agrees to hold in trust all Trust Assets conveyed to it hereunder, for the use and benefit of, and as nominee holder of legal title for, the Certificateholder Beneficiaries and the Holders and their respective successors and assignsassigns as may be designated pursuant to the terms hereof or as may otherwise succeed to the rights of a Beneficiary or Holder hereunder.

Conveyance of Trust Assets. (a) The Settlor (i) shall, from time to time, and shall UTI Beneficiaries may from time to time direct Dealers to, pursuant to the related Lease Agreements, Agreements to assign to the Titling Trust or the Owner Trustee on behalf of the Titling Trust, in trust, Lease AgreementsEligible Leases, Leased Vehicles and other Trust Assets and (ii) shall, from time to time, direct the Titling Trust to originate Lease Agreements and to take title and possession of such Lease Agreements, the related Leased Vehicles and the other related Trust Assets. In connection therewith, the Leased Vehicles will be titled in the name of the Titling Trust or the Trustee on behalf of the Trust and the Owner Trustee shall will accept such designation and, subject to the other terms of this AgreementAgreement (including each applicable Supplement), shall will permit the related Certificates of Title to be issued in the name of the Titling Trust or the Trustee on behalf of the Trust. Legal title to all Trust Assets shall be vested in the Titling Trust or the Trustee on behalf of the Trust as a separate legal entity except to the extent otherwise specifically provided herein or in any other Trust Document or where applicable state law requires any Trust Asset to be vested otherwise, in which case the Owner Trustee shallwill, at the direction of the Settlor UTI Beneficiaries or the related Series Servicer, cause legal title to be held as required thereby. (b) Lienholders may be identified on such Certificates of Title as permitted or required by any agreements entered into by the Titling Trust pursuant to Section 1.1(b). (c) The Owner Trustee hereby accepts and agrees to hold in trust all each Trust Assets Asset conveyed to it hereunder, for the use and benefit of, and as nominee holder of legal title for, the Certificateholder Beneficiaries and the Holders and their respective successors and assignsassigns as may be designated pursuant to the terms hereof or as may otherwise succeed to the rights of a Beneficiary or Holder hereunder.

Conveyance of Trust Assets. (a) The Settlor (i) shall, from time to time, and UTI Beneficiaries shall from time to time direct Dealers toassign, pursuant transfer, grant or convey (or cause to be assigned, transferred, granted or conveyed) to the related Lease Agreements, assign to the Titling Trust or the Owner Trustee on behalf of the Titling Trust, in trust, Lease AgreementsEligible Leases, Leased Vehicles and other Trust Assets and (ii) shall, from time to time, direct the Titling Trust to originate Lease Agreements and to take title and possession of such Lease Agreements, the related Leased Vehicles and the other related Trust Assets. In connection therewith, the Leased Vehicles will shall be titled in the name of the Titling Trust or the Trustee on behalf of the Trust and the Owner Trustee shall accept such designation and, subject to the other terms of this AgreementAgreement (including each applicable Supplement), shall permit the related Certificates of Title to be issued in the name of the Trust or the Trustee on behalf of the Trust. If so provided in an applicable Supplement, all or part of the Vehicles allocated to a Sub-Trust may be titled in the name of the Trust or the Trustee on behalf of the Trust during a Titling TrustGrace Period. Legal title to all Trust Assets shall be vested in the Titling Trust or the Trustee on behalf of the Trust as a separate legal entity except to the extent otherwise specifically provided herein or in any other Trust Document or where applicable state law requires any Trust Asset to be vested otherwise, in which case the Owner Trustee shall, at the direction of the Settlor UTI Beneficiaries or the related Series ServicerAdministrative Agent, cause legal title to be held as required thereby. (b) Lienholders may be identified on such Certificates of Title as permitted or required by any agreements entered into by the Titling Trust pursuant to Section 1.1(b). (c) The Owner Trustee hereby accepts and agrees to hold in trust all Trust Assets conveyed to it hereunder, for the use and benefit of, and as nominee holder of legal title for, the Certificateholder Beneficiaries and the Holders and their respective successors and assigns.assigns as may be designated

Conveyance of Trust Assets. (a) The Settlor (i) shall, from time to time, and shall from time to time direct Dealers to, pursuant to the related Lease Agreements, assign to the Titling Trust or the Owner Trustee on behalf of the Titling Trust, in trust, Lease Agreements, Leased Vehicles and other Trust Assets and (ii) shall, from time to time, direct the Titling Trust to originate Lease Agreements and to take title and possession of such Lease Agreements, the related Leased Vehicles and the other related Trust Assets. In connection therewith, the Leased Vehicles will be titled in the name of the Titling Trust and the Owner Trustee shall accept such designation and, subject to the other terms of this Agreement, shall permit the related Certificates of Title to be issued in the name of the Titling Trust. Legal title to all Trust Assets shall be vested in the Titling Trust as a separate legal entity except to the extent otherwise specifically provided herein or in any other Trust Document or where applicable state law requires any Trust Asset to be vested otherwise, in which case the Owner Trustee shall, at the direction of the Settlor or the related Series Servicer, cause legal title to be held as required thereby. (b) Lienholders may be identified on such Certificates of Title as permitted or required by any agreements entered into by the Titling Trust pursuant to Section 1.1(b). (c) The Owner Trustee hereby xxxxxx accepts and agrees to hold in trust all Trust Assets conveyed to it hereunder, for the use and benefit of, and as nominee holder of legal title for, the Certificateholder and their respective successors and assigns.