Common use of Issuance of Grantor Trust Certificate Clause in Contracts

Issuance of Grantor Trust Certificate. The Grantor Trustee acknowledges the assignment to it of the Home Loans and the delivery of the Mortgage Files to it, or any Custodian on its behalf, subject to any exceptions noted, together with the assignment to it of all other assets included in the Grantor Trust, receipt of which is hereby acknowledged. Concurrently with such delivery and in exchange therefor, the Grantor Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed and caused to be authenticated and delivered to or upon the order of the Depositor the Grantor Trust Certificate, which evidences the entire beneficial ownership of the Grantor Trust. The rights of the Grantor Trust Certificateholder to receive distributions from the proceeds of the Grantor Trust, and all ownership interests of the Grantor Trust Certificateholder in such distributions, shall be as set forth in this Grantor Trust Agreement.

Issuance of Grantor Trust Certificate. The Grantor Trustee acknowledges the assignment to it of the Home Loans and the delivery of the Mortgage Loan Files to it, or any Custodian on its behalf, subject to any exceptions noted, together with the assignment to it of all other assets included in the Grantor TrustTrust Fund, receipt of which is hereby acknowledged. Concurrently with such delivery and in exchange therefor, the Grantor Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, Depositor has executed and caused to be authenticated and delivered to or upon the order of the Depositor the Grantor Trust Certificate, which evidences the entire beneficial ownership of the Grantor TrustTrust Fund. The rights of the Grantor Trust Certificateholder to receive distributions from the proceeds of the Grantor TrustTrust Fund, and all ownership interests of the Grantor Trust Certificateholder in such distributions, shall be as set forth in this Grantor Trust Agreement.