Disposition by Seller. On and after the Closing Date, the Seller shall retain beneficial and record ownership of Certificates representing at least 1% of the Certificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Seller below 1% of the Certificate Balance shall be void. The Owner Trustee shall cause any Certificate issued to the Seller to contain a legend stating "THIS CERTIFICATE IS NOT TRANSFERABLE". Certificates issued to the Seller shall be in definitive form only.
Appears in 4 contracts
Samples: Trust Agreement (Navistar Financial Retail Receivables Corporation), Trust Agreement (Navistar Financial Retail Receivables Corporation), Trust Agreement (Navistar Financial Retail Receivables Corporation)
Disposition by Seller. On and after the Closing Date, --------------------- the Seller shall retain beneficial and record ownership of Certificates representing at least 1% of the Certificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Seller below 1% of the Certificate Balance shall be void. The Owner Trustee shall cause any Certificate issued to the Seller to contain a legend stating "THIS CERTIFICATE IS NOT TRANSFERABLE". Certificates issued to the Seller shall be in definitive form only.
Appears in 1 contract
Samples: Trust Agreement (Navistar Financial Retail Receivables Corporation)
Disposition by Seller. On and after the Closing Date, the Seller shall retain beneficial and record ownership of Class C Certificates representing at least 1% of the Aggregate Certificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Seller below 1% of the Aggregate Certificate Balance shall be void. The Owner Trustee shall cause any Certificate issued to the Seller to contain a legend stating "THIS CERTIFICATE IS NOT TRANSFERABLE". Certificates issued to the Seller shall be in definitive form only.
Appears in 1 contract
Samples: Trust Agreement (Navistar Financial Retail Receivables Corporation)