No Legal Title to Owner Trust Estate in Certificateholders. The Certificateholders shall not have legal title to any part of the related Series Trust Estate. The Certificateholders shall be entitled to receive distributions with respect to their undivided ownership interest therein only in accordance with Articles V and IX. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their ownership interest in the related Series Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the related Series Trust Estate.
Appears in 9 contracts
Samples: Trust Agreement (Household Automotive Trust 2001-1), Trust Agreement (Household Auto Receivables Corp), Trust Agreement (Household Auto Receivables Corp)
No Legal Title to Owner Trust Estate in Certificateholders. The Certificateholders shall not have legal title to any part of the related Series Trust Estate. The Certificateholders shall be entitled to receive distributions with respect to their undivided ownership interest therein only in accordance with Articles V and IX. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their ownership interest in the related Series Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the related Series Trust Estate.
Appears in 8 contracts
Samples: Trust Agreement (Household Automotive Trust 2004-1), Trust Agreement (Household Automotive Trust 2003-2), Trust Agreement (Household Auto Receivables Corp)
No Legal Title to Owner Trust Estate in Certificateholders. The Certificateholders shall not have legal title to any part of the related Series Trust Estate. The Certificateholders shall be entitled to receive distributions with respect to their undivided ownership interest therein only in accordance with Articles III, V and IX. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their ownership interest in the related Series Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the related Series Trust Estate.
Appears in 7 contracts
Samples: Trust Agreement (HSBC Automotive Trust (USA) 2006-3), Trust Agreement (HSBC Automotive Trust (USA) 2007-1), Trust Agreement (HSBC Automotive Trust (USA) 2006-1)
No Legal Title to Owner Trust Estate in Certificateholders. The Certificateholders shall not have legal title to any part of the related Series Trust Estate. The Certificateholders shall be entitled to receive distributions with respect to their undivided ownership interest therein only in accordance with Articles V this Agreement and IXthe Series Supplement. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their ownership interest in the related Series Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the related Series Trust Estate.
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