Common use of Execution, Authentication and Delivery of Trust Certificates Clause in Contracts

Execution, Authentication and Delivery of Trust Certificates. On the Closing Date for each Trust, the Trust shall issue Trust Certificates representing in the aggregate 100% of the Percentage Interests of such Trust which shall be executed by the Certificate Trustee on behalf of the Trust, authenticated by the Certificate Trustee in accordance with this Master Trust Agreement, and delivered to or upon the written order of the related Depositor, in authorized denominations of five percent (5%) or greater of the Percentage Interests of the related Trust. No Trust Certificate shall entitle its Holder to any benefit under this Master Trust Agreement, or shall be valid for any purpose, unless there shall appear on such Trust Certificate a certificate of authentication substantially in the form set forth in Exhibit A hereto, executed by the Certificate Trustee by manual signature; such authentication shall constitute conclusive evidence that such Trust Certificate shall have been duly and validly authorized, issued, authenticated and delivered hereunder. All Trust Certificates shall be dated the date of their authentication and shall be issued in definitive, fully registered form.

Appears in 1 contract

Samples: Master Trust Agreement (Franklin Credit Management Corp/De/)

AutoNDA by SimpleDocs

Execution, Authentication and Delivery of Trust Certificates. On The Owner Trustee is hereby directed on the Closing Date for each Trust, to cause the Trust shall issue Register to reflect that the Trust Certificates representing in the aggregate 100% of the Percentage Interests of such the Trust which shall have been issued in the name of the Depositor and pledged to Clearwing Capital, LLC as pledgee and secured party under the Clearwing Pledge Agreement. The Owner Trustee is hereby directed to cause the Trust Certificates to be executed by the Certificate Trustee on behalf of the Trust, authenticated and delivered, without further corporate action by the Certificate Trustee in accordance with this Master Trust Agreement, and delivered to or upon the written order of the related Depositor, in authorized denominations of five percent (5%) or greater of the Percentage Interests of the related Trustdenominations. No Trust Certificate shall entitle its Holder holder to any benefit under this Master Trust Agreement, or shall be valid for any purpose, unless there shall appear on such Trust Certificate a certificate of authentication substantially in the form set forth in Exhibit A heretoA, executed by the Certificate Owner Trustee or the Administrator, as the Owner Trustee's authenticating agent, by manual or facsimile signature; such authentication shall constitute conclusive evidence that such Trust Certificate shall have been duly and validly authorized, issued, authenticated and delivered hereunder. All Trust Certificates shall be dated the date of their authentication and shall be issued in definitive, fully registered formauthentication.

Appears in 1 contract

Samples: Trust Agreement (American Business Financial Services Inc /De/)

Execution, Authentication and Delivery of Trust Certificates. On the Closing Date for each TrustDate, the Trust Owner Trustee shall issue cause the Trust Certificates representing in the an aggregate Percentage Interest equal to 100% to be executed on behalf of the Percentage Interests of such Trust which shall be executed and authenticated by the Certificate Owner Trustee on behalf of the Trust, authenticated by the Certificate Trustee in accordance with this Master Trust Agreement, and delivered to or upon the written order of Merrill Lynch, Pierce, Fenner & Smxxx Xxxorporated, withoxx xxxthex xxxion by the related Depositor, in authorized denominations of five percent (5%) or greater of the Percentage Interests of the related Trustdenominations. No Trust Certificate shall entitle its Holder the related Certificateholder to any benefit under this Master Trust Agreement, Agreement or shall be valid for any purpose, purpose unless there shall appear on such Trust Certificate a certificate of authentication substantially in the form set forth in Exhibit A heretoA, executed by the Certificate Trustee Owner Trustee, by manual signature; such authentication shall constitute conclusive evidence that such Trust Certificate shall have been duly and validly authorized, issued, authenticated and delivered hereunder. All Trust Certificates shall be dated the date of their authentication authentication. When a Trust Certificate is duly executed and shall issued by the Owner Trustee and duly authenticated in accordance with this Agreement, the Trust Certificate will be issued in definitivefully paid, fully registered formvalidly issued, nonassessable and entitled to the benefits of this Agreement.

Appears in 1 contract

Samples: Trust Agreement (Merrill Auto Trust Securitization 2005-1)

AutoNDA by SimpleDocs

Execution, Authentication and Delivery of Trust Certificates. On the Closing Date for each TrustDate, the Trust Owner Trustee shall issue cause the Trust Certificates representing in the an aggregate Percentage Interest equal to 100% to be executed on behalf of the Percentage Interests of such Trust which shall be executed and authenticated by the Certificate Owner Trustee on behalf of the Trust, authenticated by the Certificate Trustee in accordance with this Master Trust Agreement, and delivered to or upon the written order of Merrill Lynch, Pierce, Fenner & Smixx Xxxxrporated, withoux xxxxher xxxxon by the related Depositor, in authorized denominations of five percent (5%) or greater of the Percentage Interests of the related Trustdenominations. No Trust Certificate shall entitle its Holder the related Certificateholder to any benefit under this Master Trust Agreement, Agreement or shall be valid for any purpose, purpose unless there shall appear on such Trust Certificate a certificate of authentication substantially in the form set forth in Exhibit A heretoA, executed by the Certificate Trustee Owner Trustee, by manual signature; such authentication shall constitute conclusive evidence that such Trust Certificate shall have been duly and validly authorized, issued, authenticated and delivered hereunder. All Trust Certificates shall be dated the date of their authentication authentication. When a Trust Certificate is duly executed and shall issued by the Owner Trustee and duly authenticated in accordance with this Agreement, the Trust Certificate will be issued in definitivefully paid, fully registered formvalidly issued, nonassessable and entitled to the benefits of this Agreement.

Appears in 1 contract

Samples: Trust Agreement (Merrill Auto Trust Securitization 2007-1)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!