Definitive Trust Certificates. If (i) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 10 contracts
Samples: Trust Agreement (World Omni Auto Receivables LLC), Trust Agreement (Chase Funding Inc), Trust Agreement (Chase Manhattan Acceptance Corp /De/)
Definitive Trust Certificates. If (ii)(A) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Trust Certificates Certificate Depository Agreement and (B) the Trustee or the Administrator is unable to locate a qualified successor, (ii) the Administrator Administrator, at its option option, advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency Agency, or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority not less than 51% of the Certificate Balance advise the Owner Trustee and the Clearing Agency through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing certificates evidencing the Book-Entry Trust Certificates by the Clearing AgencyCertificates, accompanied by registration instructionsinstructions from the Clearing Agency for registration, the Owner Trustee shall execute issue the Definitive Trust Certificates and authenticate the deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Depositor, the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. The Owner Trustee shall not be liable if the Owner Trustee or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 9 contracts
Samples: Trust Agreement (WFS Financial 1996-D Owner Trust), Trust Agreement (WFS Financial Auto Loans Inc), Trust Agreement (WFS Financial Auto Loans Inc)
Definitive Trust Certificates. If If: (i) the Administrator Company advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator Company is unable to locate a qualified successor, (ii) the Administrator Company at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as that is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 7 contracts
Samples: Trust Agreement (Goldman Sachs Asset Backed Securities Corp), Trust Agreement (Bond Securitization LLC), Trust Agreement (Bond Securitization LLC)
Definitive Trust Certificates. If (ii)(A) the Seller or the Administrator advises the Owner Trustee or the Trust Agent in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Depository Agreement and (B) the Seller, the Owner Trustee, the Trust Certificates and Agent or the Administrator is unable to locate a qualified successor, or (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority in the aggregate more than 50% of the Certificate Balance advise the Owner Trustee (and if the Owner Trustee receives such advice it shall promptly notify the Trust Agent) or the Trust Agent through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate Owners, then the Clearing Agency Trust Agent shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability through the Clearing Agency of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee Trust Agent by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing evidencing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructionsinstructions from the Clearing Agency, the Owner Trustee on behalf of the Trust shall execute and the Trust Agent shall authenticate the Definitive Trust Certificates and deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Depositor, the Certificate Registrar nor Registrar, the Owner Trustee nor the Trust Agent shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee and the Trust Agent shall recognize the Holders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. Neither the Owner Trustee nor the Trust Agent shall be liable if the Owner Trustee, the Trust Agent or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 5 contracts
Samples: Trust Agreement (Onyx Acceptance Financial Corp), Trust Agreement (Onyx Acceptance Financial Corp), Trust Agreement (Onyx Acceptance Financial Corp)
Definitive Trust Certificates. If (i) the Administrator Servicer advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates Certificates, and the Administrator Servicer is unable to locate a qualified successor, (ii) the Administrator Servicer at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners of Certificates representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate OwnersOwners of Trust Certificates, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Book Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 5 contracts
Samples: Trust Agreement (Barnett Auto Receivables Corp), Trust Agreement (Money Store Auto Trust 1996-2), Trust Agreement (Mellon Auto Receivables Corp)
Definitive Trust Certificates. If (i) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Book-Entry Trust Certificates and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Trust shall execute and the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the written instructions of the Clearing Agency. Neither None of the Trust, the Certificate Registrar nor or the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 5 contracts
Samples: Trust Agreement (SSB Vehicle Securities Inc BMW Vehicle Owner Trust 1999-A), Trust Agreement (SSB Vehicle Sec Huntington Auto Trust 2000-A), Trust Agreement (First Merchants Acceptance Corp)
Definitive Trust Certificates. If (i) the Administrator Master Servicer advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates Certificates, and the Administrator Master Servicer is unable to locate a qualified successor, (ii) the Administrator Master Servicer at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners of Certificates representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate OwnersOwners of Trust Certificates, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 5 contracts
Samples: Trust Agreement (Gs Mortgage Securities Corp), Trust Agreement (Gs Mortgage Securities Corp), Trust Agreement (Gs Mortgage Securities Corp)
Definitive Trust Certificates. If (i) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Master Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 3 contracts
Samples: Trust Agreement (Cwabs Inc), Trust Agreement (Morgan Stanley Abs Capital I Inc), Trust Agreement (Morgan Stanley Abs Capital I Inc)
Definitive Trust Certificates. If (i) the Administrator Master Servicer advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates Certificates, and the Administrator Master Servicer is unable to locate a qualified successor, (ii) the Administrator Master Servicer at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners of Certificates representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate OwnersOwners of Trust Certificates, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Book Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.]
Appears in 3 contracts
Samples: Trust Agreement (Chec Asset Receivables Corp), Trust Agreement (Avco Abs Receivables Corp), Trust Agreement (Chec Asset Receivables Corp)
Definitive Trust Certificates. If (i) the Administrator Company advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator Company is unable to locate a qualified successor, (ii) the Administrator Company at its option advises the Owner Trustee in writing that it elects to terminate the book-book- entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as that is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 2 contracts
Samples: Trust Agreement (Goldman Sachs Asset Backed Securities Corp), Trust Agreement (Gs Mortgage Securities Corp)
Definitive Trust Certificates. If (ii)(A) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Trust Certificates Certificate Depository Agreement and (B) the Owner Trustee or the Administrator is unable to locate a qualified successor, (ii) the Administrator Administrator, at its option option, advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency Agency, or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners Certificateholders representing beneficial interests aggregating at least a majority more than 50% of the Certificate Balance advise the Owner Trustee and the Clearing Agency through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate OwnersCertificateholders, then the Clearing Agency shall notify all Certificate Owners Certificateholders and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners Certificateholders requesting the same. Upon surrender to the Owner Trustee by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing certificates evidencing the Book-Entry Trust Certificates by the Clearing AgencyCertificates, accompanied by registration instructionsinstructions from the Clearing Agency for registration, the Owner Trustee shall execute issue the Definitive Trust Certificates and authenticate the deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Depositor, the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders Certificateholders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. The Owner Trustee shall not be liable if the Owner Trustee or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 2 contracts
Samples: Trust Agreement (Dealer Auto Receivables Corp), Trust Agreement (Dealer Auto Receivables Corp)
Definitive Trust Certificates. If If: (i) the Administrator Company advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator Company is unable to locate a qualified successor, (ii) the Administrator Company at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as that is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 2 contracts
Samples: Trust Agreement (Gs Mortgage Securities Corp), Trust Agreement (Goldman Sachs Asset Backed Securities Corp)
Definitive Trust Certificates. If (i) the Administrator ------------------------------ advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Master Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 2 contracts
Samples: Trust Agreement (Indymac Abs Inc), Trust Agreement (Indymac Abs Inc)
Definitive Trust Certificates. If (ii)(A) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Trust Certificates Certificate Depository Agreement and (B) the Trustee or the Administrator is unable to locate a qualified successor, (ii) the Administrator Administrator, at its option option, advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency Agency, or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority not less than 51% of the Certificate Balance advise the Owner Trustee and the Clearing Agency through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing certificates evidencing the Book-Entry Trust Certificates by the Clearing AgencyCertificates, accompanied by registration instructionsinstructions from the Clearing Agency for registration, the Owner Trustee shall execute issue the Definitive Trust Certificates and authenticate the deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Depositor, the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. The Definitive Trust Certificates Owner Trustee shall not be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to liable if the Owner Trustee, as evidenced by its execution thereof.Trustee or the Administrator is unable to
Appears in 2 contracts
Samples: Trust Agreement (WFS Financial 1997-B Owner Trust), Trust Agreement (WFS Financial 1997-C Owner Trust)
Definitive Trust Certificates. If (i) the Administrator Company advises ----------------------------- the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator Company is unable to locate a qualified successor, (ii) the Administrator Company at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as that is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 1 contract
Samples: Form of Trust Agreement (Asset Backed Securities Corp)
Definitive Trust Certificates. If (ii)(A) the Seller or the Administrator advises the Owner Trustee or the Trust Agent in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Depository Agreement and (B) the Seller, the Owner Trustee, the Trust Certificates and Agent or the Administrator is unable to locate a qualified successor, or (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority in the aggregate more than 50% of the Certificate Balance advise the Owner Trustee (and if the Owner Trustee receives such advice it shall promptly notify the Trust Agent) or the Trust Agent through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate Owners, then the Clearing Agency Trust Agent shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability through the Clearing Agency of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee Trust Agent by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing evidencing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructionsinstructions from the Clearing Agency, the Owner Trustee on behalf of the Trust shall execute and the Trust Agent shall authenticate the Definitive Trust Certificates and deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Depositor, the Certificate Registrar nor Registrar, the Owner Trustee nor the Trust Agent shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee and the Trust Agent shall recognize the Holders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. Neither the Owner Trustee nor the Trust Agent shall be liable if the Owner Trustee, the Trust Agent or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 1 contract
Definitive Trust Certificates. If (ii)(A) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Trust Certificates Certificate Depository Agreement and (B) the Trustee or the Administrator is unable to locate a qualified successor, (ii) the Administrator Administrator, at its option option, advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency Agency, or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority not less than 51% of the Certificate Balance advise the Owner Trustee and the Clearing Agency through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing certificates evidencing the Book-Entry Trust Certificates by the Clearing AgencyCertificates, accompanied by registration instructionsinstructions from the Clearing Agency for registration, the Owner Trustee shall execute issue the Definitive Trust Certificates and authenticate the deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Depositor, the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. The Owner Trustee shall not be liable if the Owner Trustee or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.. ARTICLE FOUR
Appears in 1 contract
Definitive Trust Certificates. If (ii)(A) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Trust Certificates Certificate Depository Agreement and (B) the Owner Trustee or the Administrator is unable to locate a qualified successor, (ii) the Administrator Administrator, at its option option, advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency Agency, or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners Certificateholders representing beneficial interests aggregating at least a majority more than 50% of the Certificate Balance advise the Owner Trustee and the Clearing Agency through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate OwnersCertificateholders, then the Clearing Agency shall notify all Certificate Owners Certificateholders and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners Certificateholders requesting the same. Upon surrender to the Owner Trustee by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing certificates evidencing the Book-Entry Trust Certificates by the Clearing AgencyCertificates, accompanied by registration instructionsinstructions from the Clearing Agency for registration, the Owner Trustee shall execute issue the Definitive Trust Certificates and authenticate the deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Trust Depositor, the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders Certificateholders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. The Owner Trustee shall not be liable if the Owner Trustee or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 1 contract
Samples: Trust Agreement (Harley Davidson Customer Funding Corp)
Definitive Trust Certificates. If (i) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
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Samples: Trust Agreement (Equity One Abs Inc)
Definitive Trust Certificates. If If: (i) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates Certificates, and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate Owners, then the Clearing Agency shall has undertaken to notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates Certificate(s) representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
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Definitive Trust Certificates. If (ii)(A) the Seller or the Administrator advises the Owner Trustee or the Trust Agent in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Depository Agreement and (B) the Seller, the Owner Trustee, the Trust Certificates and Agent or the Administrator is unable to locate a qualified successor, or (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority in the aggregate more than 50% of the Certificate Balance advise the Owner Trustee (and if the Owner Trustee receives such advice it shall promptly notify the Trust Agent) or the Trust Agent through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate Owners, then the Clearing Agency Trust Agent shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability through the Clearing Agency of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee Trust Agent by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing evidencing the Book-Book- Entry Trust Certificates by the Clearing Agency, accompanied by registration instructionsinstructions from the Clearing Agency, the Owner Trustee on behalf of the Trust shall execute and the Trust Agent shall authenticate the Definitive Trust Certificates and deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Depositor, the Certificate Registrar nor Registrar, the Owner Trustee nor the Trust Agent shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee and the Trust Agent shall recognize the Holders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. Neither the Owner Trustee nor the Trust Agent shall be liable if the Owner Trustee, the Trust Agent or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
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Definitive Trust Certificates. If (ii)(A) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Trust Certificates Certificate Depository Agreement and (B) the Owner Trustee or the Administrator is unable to locate a qualified successor, (ii) the Administrator Administrator, at its option option, advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency Agency, or (iii) after the occurrence of an Event of Default or a Servicer DefaultTermination Event, Certificate Owners Certificateholders representing beneficial interests aggregating at least a majority not less than 51% of the Certificate Balance advise the Owner Trustee and the Clearing Agency through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate OwnersTrust, then the Clearing Agency shall notify all Certificate Owners Certificateholders and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners Certificateholders requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing AgencyAgency of the certificates evidencing the Book- Entry Trust Certificates, accompanied by registration instructionsinstructions from the Clearing Agency for registration, the Owner Trustee shall execute issue the Definitive Trust Certificates and authenticate the deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Trust Depositor, the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders Certificateholders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. The Owner Trustee shall not be liable if the Owner Trustee or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 1 contract
Samples: Trust Agreement (Eaglemark Inc)
Definitive Trust Certificates. If (i) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
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Definitive Trust Certificates. If (i) the Administrator Depositor advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator Depositor is unable to locate a qualified successor, (ii) the Administrator Depositor at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall will notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall will execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall will be liable for any delay in delivery of such instructions and may conclusively rely on, and shall will be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall will recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall will be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 1 contract
Samples: Trust Agreement (Deutsche Recreational Asset Funding Corp)
Definitive Trust Certificates. If (i) the Administrator Servicer advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates Certificates, and the Administrator Servicer is unable to locate a qualified successor, (ii) the Administrator Servicer at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners of Certificates representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate OwnersOwners of Trust Certificates, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
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Definitive Trust Certificates. If (ii)(A) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Trust Certificates Certificate Depository Agreement and (B) the Trustee or the Administrator is unable to locate a qualified successor, (ii) the Administrator Administrator, at its option option, advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency Agency, or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority not less than 51% of the Certificate Balance advise the Owner Trustee and the Clearing Agency through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing certificates evidencing the Book-Entry Trust Certificates by the Clearing AgencyCertificates, accompanied by registration instructionsinstructions from the Clearing Agency for registration, the Owner Trustee shall execute issue the Definitive Trust Certificates and authenticate the deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Depositor, the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. The Owner Trustee shall not be liable if the Owner Trustee or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.engraved
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Definitive Trust Certificates. If (i) the ----------------------------- Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Master Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 1 contract
Samples: Trust Agreement (Provident Bank)
Definitive Trust Certificates. If (ii)(A) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Trust Certificates Certificate Depository Agreement and (B) the Owner Trustee or the Administrator is unable to locate a qualified successor, (ii) the Administrator Administrator, at its option option, advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency Agency, or (iii) after the occurrence of an Event of Default or a Servicer DefaultTermination Event, Certificate Owners Certificateholders representing beneficial interests aggregating at least a majority more than 50% of the Certificate Balance advise the Owner Trustee and the Clearing Agency through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate OwnersTrust, then the Clearing Agency shall notify all Certificate Owners Certificateholders and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners Certificateholders requesting the same. Upon surrender to the Owner Trustee by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing certificates evidencing the Book-Entry Trust Certificates by the Clearing AgencyCertificates, accompanied by registration instructionsinstructions from the Clearing Agency for registration, the Owner Trustee shall execute issue the Definitive Trust Certificates and authenticate the deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Trust Depositor, the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders Certificateholders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. The Owner Trustee shall not be liable if the Owner Trustee or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 1 contract
Samples: Authority And (Eaglemark Inc)
Definitive Trust Certificates. If (i) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Book-Entry Trust Certificates and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Master Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Trust shall execute and the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the written instructions of the Clearing Agency. Neither None of the Trust, the Certificate Registrar nor or the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
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Definitive Trust Certificates. If (i) the Administrator Depositor advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator Depositor is unable to locate a qualified successor, (ii) the Administrator Depositor at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 1 contract
Samples: Trust Agreement (Deutsche Recreational Asset Funding Corp)
Definitive Trust Certificates. If (ii)(A) the Seller or the Administrator advises the Owner Trustee and the Co-Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to as described in the Trust Certificates Depository Agreement and (B) the Seller, the Owner Trustee, the Co-Owner Trustee or the Administrator is unable to locate a qualified successor, or (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority in the aggregate more than 50% of the Certificate Balance advise the Owner Trustee (and if the Owner Trustee receives such advice it shall promptly notify the Co- Owner Trustee) or the Co-Owner Trustee through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest interests of the Certificate Owners, then the Clearing Agency Co-Owner Trustee shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability through the Clearing Agency of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Co-Owner Trustee by the Clearing Agency of the typewritten Trust Certificate or Trust Certificates representing evidencing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructionsinstructions from the Clearing Agency, the Co-Owner Trustee on behalf of the Trust shall execute and the Co-Owner Trustee shall execute and authenticate the Definitive Trust Certificates and deliver such Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Depositor, the Certificate Registrar Registrar, the Owner Trustee nor the Co- Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Co-Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as CertificateholdersCertificateholders hereunder. The Co-Owner Trustee shall not be liable if the Co-Owner Trustee or the Administrator is unable to locate a qualified successor Clearing Agency. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Co-Owner Trustee, as evidenced by its execution thereof.
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Definitive Trust Certificates. If (i) the Administrator ----------------------------- advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Master Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
Appears in 1 contract
Samples: Trust Agreement (First Horizon Asset Securities Inc)
Definitive Trust Certificates. If (i) the Administrator advises the Owner Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Trust Certificates and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Owner Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default or a Master Servicer Default, Certificate Owners representing beneficial interests aggregating at least a majority of the Certificate Balance advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of the Definitive Trust Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Trust Certificate or Trust Certificates representing the Book-Book- Entry Trust Certificates by the Clearing Agency, accompanied by registration instructions, the Owner Trustee shall execute and authenticate the Definitive Trust Certificates in accordance with the instructions of the Clearing Agency. Neither the Certificate Registrar nor the Owner Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Trust Certificates, the Owner Trustee shall recognize the Holders of the Definitive Trust Certificates as Certificateholders. The Definitive Trust Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Owner Trustee, as evidenced by its execution thereof.
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