Common use of Issuance of Trust Certificate Clause in Contracts

Issuance of Trust Certificate. (a) As of the date of the Original Trust Agreement, the Owner Trustee has issued and delivered to the Depositor a Trust Certificate in the name of the Depositor evidencing 100% of the beneficial interest in the Trust. (b) Each Trust Certificate shall be executed by manual signature on behalf of the Owner Trustee by one of its authorized officers. Trust Certificates bearing the manual signature of an individual who was, at the time when such signature was affixed, authorized to sign on behalf of the Owner Trustee shall bind the Trust, notwithstanding that such individual has ceased to be so authorized prior to the delivery of such Trust Certificate or does not hold such office at the date of such Trust Certificate. Each Trust Certificate shall be dated the date of its issuance.

Appears in 10 contracts

Samples: Trust Agreement (SLC Student Loan Trust 2010-1), Trust Agreement (SLC Student Loan Receivables I Inc), Trust Agreement (SLC Student Loan Trust 2008-1)

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Issuance of Trust Certificate. (a) As of the date of the Original Trust Agreement, the Owner Trustee has issued and delivered to the Depositor a Trust Certificate in the name of the Depositor evidencing 100% of the beneficial interest in the Trust. (b) Each Trust Certificate shall be executed by manual signature on behalf of the Owner Trustee by one of its authorized officersAuthorized Officers. Trust Certificates bearing the manual signature of an individual who was, at the time when such signature was affixed, authorized to sign on behalf of the Owner Trustee shall bind the Trust, notwithstanding that such individual has ceased to be so authorized prior to the delivery of such Trust Certificate or does not hold such office at the date of such Trust Certificate. Each Trust Certificate shall be dated the date of its issuance.

Appears in 10 contracts

Samples: Trust Agreement (SLC Student Loan Receivables I Inc), Trust Agreement (SLC Student Loan Trust 2006-1), Trust Agreement (SLC Student Loan Receivables I Inc)

Issuance of Trust Certificate. (a) As of the date of the Original Trust Agreementhereof, the Owner Trustee has issued and delivered to the Depositor Owner a Trust Certificate in the name of the Depositor Owner evidencing 100% of the beneficial interest in the Trust. (b) Each The Trust Certificate shall be executed by manual signature on behalf of the Owner Trustee by one of its authorized officersAuthorized Officers. The Trust Certificates Certificate bearing the manual signature of an individual who was, at the time when such signature was affixed, authorized to sign on behalf of the Owner Trustee shall bind the Trust, notwithstanding that such individual has ceased to be so authorized prior to the delivery of such the Trust Certificate or does not hold such office at the date of such Trust Certificate. Each The Trust Certificate shall be dated the date of its issuance.

Appears in 2 contracts

Samples: Trust Agreement (National Collegiate Trust 1996-S2), Trust Agreement (National Collegiate Trust 1996-S2)

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Issuance of Trust Certificate. (a) As of the date of the Original Trust Agreement, the Owner Trustee has issued and delivered to the Depositor a Trust Certificate in the name of the Depositor evidencing 100% of the beneficial interest in the Trust. (ba) Each Trust Certificate shall be executed by manual signature on behalf of the Owner Trustee by one of its authorized officers. Trust Certificates bearing the manual signature of an individual who was, at the time when such signature was affixed, authorized to sign on behalf of the Owner Trustee shall bind the Trust, notwithstanding that such individual has ceased to be so authorized prior to the delivery of such Trust Certificate or does not hold such office at the date of such Trust Certificate. Each Trust Certificate shall be dated the date of its issuance.

Appears in 1 contract

Samples: Trust Agreement (SLC Student Loan Trust 2007-1)

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