Common use of Distribution of Trust Estate Upon Termination Clause in Contracts

Distribution of Trust Estate Upon Termination. Upon any --------------------------------------------- termination of the trust created hereby pursuant to Section 9.1 or 9.2, the Owner Trustees shall transfer title to the Trust Estate (and assign all their right, title and interest in, to and under each Operative Document) to the Owner Participant or its designee. No later than the effective date of termination of the trust created hereby the Owner Trustees or its designee(s) shall execute and deliver to the Owner Participant a xxxx of sale and other written instrument or instruments prepared by the Owner Participant in form and substance reasonably satisfactory to the Owner Trustees evidencing the transfer of title to the Trust Estate to the Owner Participant and, no later than the effective date of such termination, the Owner Participant shall execute and deliver to the Owner Trustees a written instrument in form and substance reasonably satisfactory to the Owner Trustees evidencing discharge of the Owner Trustees from their obligations hereunder and under the other Owner Trust Documents and the Owner Trust U.K. Documents to which each Owner Trustee is a party except those theretofore accrued and their obligations to release Owner's Liens.

Distribution of Trust Estate Upon Termination. Upon any --------------------------------------------- termination of the trust created hereby pursuant to Section 9.1 or 9.2, the Owner Trustees Trustee shall transfer title to the Trust Estate (and assign all their its right, title and interest in, to and under each Operative Document) to the Owner Participant or its designee. No later than the effective date of termination of the trust created hereby the Owner Trustees Trustee or its designee(s) designee shall execute and deliver to the Owner Participant a special warranty deed, xxxx of sale and assignment and other written instrument or instruments prepared by the Owner Participant in form and substance reasonably satisfactory to the Owner Trustees Trustee evidencing the transfer of title to the Trust Estate to the Owner Participant and, no later than the effective date of such termination, the Owner Participant shall execute and deliver to the Owner Trustees Trustee a written instrument in form and substance reasonably satisfactory to the Owner Trustees Trustee evidencing discharge of the Owner Trustees Trustee from their its obligations hereunder and under the other Owner Trust Documents and the Owner Trust U.K. Operative Documents to which each the Owner Trustee is a party except those theretofore accrued and their its obligations to release OwnerLessor's Liens.

Distribution of Trust Estate Upon Termination. Upon any --------------------------------------------- termination of the trust created hereby pursuant to Section 9.1 or 9.2, the Owner Trustees Trustee shall transfer title to the Trust Estate (and assign all their its right, title and interest in, to and under each Operative Document) to the Owner Participant or its designee. No later than the effective date of termination of the trust created hereby the Owner Trustees Trustee or its designee(s) designee shall execute and deliver to the Owner Participant a xxxx of sale and assignment and other written instrument or instruments prepared by the Owner Participant in form and substance reasonably satisfactory to the Owner Trustees Trustee evidencing the transfer of title to the Trust Estate to the Owner Participant and, no later than the effective date of such termination, the Owner Participant shall execute and deliver to the Owner Trustees Trustee a written instrument in form and substance reasonably satisfactory to the Owner Trustees Trustee evidencing discharge of the Owner Trustees Trustee from their its obligations hereunder and under the other Owner Trust Documents and the Owner Trust U.K. Operative Documents to which each the Owner Trustee is a party except those theretofore accrued and their its obligations to release OwnerShipowner's Liens.