No Legal Title to Trust Estate in the Certificateholders. The Certificateholders shall not have legal title to any part of the Trust Estate. The Certificateholders shall be entitled to receive distributions with respect to their fractional undivided beneficial 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 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 Trust Estate.
Appears in 107 contracts
Samples: Trust Agreement (Toyota Auto Receivables 2024-D Owner Trust), Trust Agreement (Toyota Auto Receivables 2024-D Owner Trust), Trust Agreement (Toyota Auto Finance Receivables LLC)
No Legal Title to Trust Estate in the Certificateholders. The Certificateholders shall not have legal title to any part of the Trust Estate. The ; provided, however, that the Certificateholders shall be entitled to receive distributions with respect to their fractional undivided have a beneficial interest therein only in accordance with Articles V the Trust Estate (and IXinitially shall have all right, title and interest in and to the Owner Trust Certificates). No transfer, transfer by operation of law or otherwise, otherwise of any right, title, title or interest of the Certificateholders in and to and in their ownership interest in the Trust Estate or hereunder shall operate to terminate this Agreement or the Trust or the trusts hereunder or entitle any successor or transferee to an accounting or to the transfer to it of legal title to any part of the Trust Estate.
Appears in 3 contracts
Samples: Deposit Trust Agreement (Delta Financial Corp), Deposit Trust Agreement (Delta Financial Corp), Pooling and Servicing Agreement (Delta Financial Corp)
