Common use of DECLARATIONS OF TRUST Clause in Contracts

DECLARATIONS OF TRUST. 2.1 The Seller hereby declares, that it holds and, subject to clause 6 (Repurchase) hereof, shall henceforth hold the Scottish Sale Assets and its whole right, title and interest, present and future, therein and thereto in trust absolutely for the Issuer and its assignees (whether absolutely or in security) whomsoever. 2.2 The Seller hereby declares that it holds and, subject to clause 6 (Repurchase) hereof, shall henceforth hold all of its right, title, benefit and interest in and to each Vehicle relating to each Sale Asset listed in the Schedule attached to the Notice of Sale and all amounts received in respect thereof including, in particular, any and all amounts received in connection with any sale or other disposal of any Vehicle and all of its right, title, benefit and interest in and under any contracts or other agreement for any such sale or other disposal upon trust absolutely for the Issuer and its assignees (whether absolutely or in security) whomsoever for the purposes of the Receivables Purchase Agreement.

DECLARATIONS OF TRUST. 2.1 The Seller hereby declares, that it holds and, subject to clause Clause 6 (Repurchase) hereof, shall henceforth hold the Scottish Sale Assets and its whole right, title and interest, present and future, therein and thereto in trust absolutely for the Issuer and its assignees (whether absolutely or in security) whomsoever. 2.2 The Seller hereby declares that it holds and, subject to clause Clause 6 (Repurchase) hereof, shall henceforth hold all of its right, title, benefit and interest in and to each Vehicle relating to each Sale Asset listed in the Schedule attached to the Notice of Sale and all amounts received in respect thereof including, in particular, any and all amounts received in connection with any sale or other disposal of any Vehicle and all of its right, title, benefit and interest in and under any contracts or other agreement for any such sale or other disposal upon trust absolutely for the Issuer and its assignees (whether absolutely or in security) whomsoever for the purposes of the Receivables Purchase Agreement.