DECLARATION OF TRUST FUND; ORIGINAL ISSUANCE OF CERTIFICATES Sample Clauses

DECLARATION OF TRUST FUND; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.1 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loan; Conveyance of Other Collateral . . . . . . . . 21 Section 2.2
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DECLARATION OF TRUST FUND; ORIGINAL ISSUANCE OF CERTIFICATES. 2.01 Creation and Declaration of Trust Fund; Conveyance of Bond.............7 2.02
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DECLARATION OF TRUST FUND; ORIGINAL ISSUANCE OF CERTIFICATES. Section 2.01. Creation and Declaration of Trust Fund; Conveyance of Mortgage Loan. The Depositor hereby irrevocably sells, transfers, assigns, delivers, sets over and otherwise conveys or causes to be conveyed to the Trustee for the benefit of Certificateholders, without recourse, the Depositor's right, title and interest, whether now owned or hereafter acquired, now existing or hereafter arising, wherever located, in and to (i) the Mortgage Loan, the Mortgage Note, each Mortgage and all other Trust Fund property, (ii) all property that secures payment of the Deed of Trust Loan, including all reserves created and required to be maintained under the terms of each Mortgage, all property that has been acquired by foreclosure, deed-in-lieu of foreclosure or otherwise, and the Depositor's interest as pledgee in all funds in the Rent Accounts and the Central Account (including all Sub-Accounts thereof), (iii) all accounts and funds established by the Servicer and the Trustee pursuant hereto, including the Servicer Collection Account, the Certificate Account and the Default Interest Account and all amounts deposited therein pursuant to the applicable provisions of this Agreement, (iv) any insurance policies obtained with respect to the Mortgage Loan, (v) all of the Depositor's right and title and interest in each Mortgage to the extent such Mortgage relates to representations and warranties made by the related Mortgagor in respect of such Mortgage and any remedies provided thereunder for any breach of such representation and warranties and (vi) all proceeds of the conversion, voluntary or involuntary, of any of the foregoing into cash, instruments, securities or other property, including without limitation all amounts from time to time held in and credited to the Servicer Collection Account, the Certificate Account and the Default Interest Account, whether in the form of cash or invested in instruments, securities or other property, to have and to hold, in trust, and the Trustee declares that, subject to the review provided for in Section 2.02, it has received the documents specified in clauses (a) through (m) below and shall hold the Trust Fund as the Trustee, in trust, for the benefit and use of the Holders of the Certificates and for the purposes and subject to the terms and conditions set forth in this Agreement, and, concurrently with such receipt, the Trustee has caused to be executed, authenticated and delivered to or upon the order of the Depositor, in ex...
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Related to DECLARATION OF TRUST FUND; ORIGINAL ISSUANCE OF CERTIFICATES

  • DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES Section 2.01 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans.

  • Conveyance of Mortgage Loans Original Issuance of Certificates Section 2.01 Conveyance of Mortgage Loans. (See Section 2.01 of the Standard Terms)

  • ORIGINAL ISSUANCE OF CERTIFICATES ACQUISITION OF TRUST PROPERTY

  • PAYMENT AND ISSUANCE OF CERTIFICATES The shares purchased by you hereunder shall be paid for in full at the public offering price (less any agency fee retained by you as set forth above) by check payable to the Fund, Fed Fund wire or NSCC within three business days after our acceptance of your order. If not so paid, we reserve the right, without notice, to cancel the sale and to hold you responsible for any loss sustained by us or the Fund (including lost profit) as a result. Certificates representing Fund shares will not be issued unless a specific request is received from you or your customer. Certificates, if requested, will be issued in the names indicated by registration instructions accompanying payment.

  • Discontinuance of Issuance of Certificates The Trustees may at any time discontinue the issuance of share certificates and may, by written notice to each shareholder, require the surrender of share certificates to the Trust for cancellation. Such surrender and cancellation shall not affect the ownership of shares in the Trust.

  • Execution of Certificates The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery of the Trustee's Mortgage Files relating thereto to it and, concurrently with such delivery, has executed, authenticated and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, the Trustee's Mortgage Files and the other assets included in the definition of Trust Fund, Certificates duly authenticated by the Trustee in Authorized Denominations evidencing the entire ownership of the Trust Fund.

  • Issuance of Certificates No later than three (3) business days following the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price pursuant to Section 3.3.1 or cashless exercise pursuant to Section 3.3.2, the Company shall issue, or cause to be issued, to the Registered Holder of such Warrant a certificate or certificates representing (or at the option of the Registered Holder, deliver electronically through the facilities of the Depository Trust Corporation) the number of full shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and, if such Warrant shall not have been exercised or surrendered in full, a new countersigned Warrant for the number of shares as to which such Warrant shall not have been exercised or surrendered. Notwithstanding the foregoing, the Company shall not deliver, or cause to be delivered, any securities without applicable restrictive legend pursuant to the exercise of a Warrant unless (a) a registration statement under the Act with respect to the shares of Common Stock issuable upon exercise of such Warrants is effective and a current prospectus relating to the shares of Common Stock issuable upon exercise of the Warrants is available for delivery to the Registered Holder of the Warrant or (b) in the opinion of counsel to the Company, the exercise of the Warrants is exempt from the registration requirements of the Act and such securities are qualified for sale or exempt from qualification under applicable securities laws of the states or other jurisdictions in which the Registered Holder resides. Warrants may not be exercised by, or securities issued to, any Registered Holder in any state in which such exercise or issuance would be unlawful. In addition, in no event will the Company be obligated to pay such Registered Holder any cash consideration upon exercise or otherwise “net cash settle” the Warrant.

  • Filing of Certificates J. Xxxxxx Xxxxxxxx is hereby designated an “authorized person” within the meaning of the Act, and shall execute, deliver and file the Certificate of Formation of the Company with the Secretary of State of the State of Delaware. Upon the filing of the Certificate of Formation with the Secretary of State of the State of Delaware, his powers as an “authorized person” shall cease, and the Member shall thereupon become the designated “authorized person” within the meaning of the Act.

  • Designation of Certificates Designation of Startup Day and Latest Possible Maturity Date................................ Section 2.06 Optional Substitution of Mortgage Loans...........................

  • CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF THE CERTIFICATES Section 2.01 Conveyance of Mortgage Loans.................................. Section 2.02

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