Initial Capital Contribution to the Trust. The Transferor hereby sells, assigns, transfers, conveys and sets over to the Owner Trustee, as of the date hereof, the sum of $1. The Owner Trustee hereby acknowledges receipt in trust from the Transferor, as of the date hereof, of the foregoing contribution, which shall constitute the initial property of the Trust. The Transferor shall pay organizational expenses of the Trust as they may arise.
Appears in 16 contracts
Samples: Trust Agreement (Long Beach Acceptance Receivables Corp.), Trust Agreement (Long Beach Acceptance Receivables Corp. II), Trust Agreement
