Depositor as Certificateholder. On the Closing Date, the Depositor shall acquire the Certificate representing the undivided beneficial interest in the Trust and, thereafter, shall retain beneficial and record ownership of the Certificate representing such undivided beneficial interest in the Trust. Any attempted transfer of any Certificate that would reduce such interest of the Depositor shall be void. The Owner Trustee shall cause any Certificate issued to the Depositor to contain a legend stating “THIS CERTIFICATE IS NOT TRANSFERABLE”.
Appears in 31 contracts
Samples: Trust Agreement (Deere John Capital Corp), Trust Agreement (John Deere Receivables LLC), Trust Agreement (Deere John Capital Corp)
Depositor as Certificateholder. On the Closing Date, the Depositor shall acquire the Certificate representing 100% of the undivided beneficial interest in the Trust initial Certificate Balance and, thereafter, shall retain beneficial and record ownership of the Certificate representing such undivided beneficial interest in 100% of the TrustCertificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Depositor below 100% of the Certificate Balance shall be void. The Owner Trustee shall cause any Certificate issued to the Depositor to contain a legend stating “THIS CERTIFICATE IS NOT TRANSFERABLE”.
Appears in 25 contracts
Samples: Trust Agreement (John Deere Owner Trust 2016-B), Trust Agreement (John Deere Owner Trust 2016-B), Trust Agreement (John Deere Owner Trust 2016)
