Common use of No Legal Title to Trust Property in Certificateholders Clause in Contracts

No Legal Title to Trust Property in Certificateholders. The Certificateholders shall not have legal title to any part of the Trust Property. The Certificateholders shall be entitled to receive distributions with respect to their undivided beneficial interest therein only in accordance with Articles Five and Nine. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their beneficial interest in the Trust Property 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 Property.

Appears in 39 contracts

Samples: Trust Agreement (Daimler Trucks Retail Trust 2024-1), Trust Agreement (Daimler Trucks Retail Trust 2024-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2024-1)

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No Legal Title to Trust Property in Certificateholders. The Certificateholders shall not have legal title to any part of the Trust Property. The Certificateholders shall be entitled to receive distributions with respect to their undivided beneficial interest interests therein only in accordance with Articles Five V and NineIX. No transfer, by operation of law or otherwise, of any right, title title, or interest of the Certificateholders to and in their beneficial interest in the Trust Property 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 Property.

Appears in 2 contracts

Samples: Trust Agreement (Ford Credit Auto Owner Trust 2005-B), Trust Agreement (Ford Credit Auto Owner Trust 2004-A)

No Legal Title to Trust Property in Certificateholders. The Certificateholders shall not have legal title to any part of the Trust Property. The Certificateholders Property and shall be entitled to receive distributions with respect to their only have an undivided beneficial interest therein only in accordance with Articles Five and Ninetherein. No transfer, by operation of law or otherwise, of any right, title or and interest of the Certificateholders in and to and in their undivided beneficial interest in the Trust Property hereunder shall operate to terminate this Trust Agreement or the trusts hereunder or entitle any successor transferee to an accounting or to the transfer to it of legal title to any part of the Trust Property.

Appears in 1 contract

Samples: Trust Agreement (Wendy's of Denver, Inc.)

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No Legal Title to Trust Property in Certificateholders. The Certificateholders shall do not have legal title to any part of the Trust Property. The Certificateholders shall be entitled to receive distributions with respect to their undivided beneficial interest therein only in accordance with Articles Five and Nine. No transfer, by operation of law or otherwise, of any right, title or title, and interest of the Certificateholders any Certificateholder to and in their its beneficial ownership interest in the Trust Property shall will 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 Property.

Appears in 1 contract

Samples: Master Trust Agreement (GMF Floorplan Owner Revolving Trust)

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