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

No Legal Title to Trust Property in Owners. The Owners shall not have legal title to any part of the Trust Property and shall only be entitled to receive distributions with respect to their Ownership Interest therein pursuant to Sections 6.02 and 6.06 hereof. No transfer, by operation of law or otherwise (other than as set forth in Article XII hereof), of any right, title and interest of any Owner in and to its Ownership Interest in the Trust Property hereunder shall operate to terminate this Agreement or the Trust or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Trust Property.

No Legal Title to Trust Property in Owners. The Owners shall not have legal title to any part of the Trust Property and shall only be entitled to receive distributions with respect to their undivided beneficial interest therein in proportion to their Ownership Interest therein Percentage pursuant to Sections 6.02 and 6.06 Section 4.01 hereof. No transfer, by operation of law or otherwise (other than as set forth in Article XII hereof)otherwise, of any right, title and interest of any Owner the Owners in and to its Ownership Interest their undivided beneficial interests in the Trust Property or hereunder shall operate to terminate this Agreement or the Trust 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.