Ownership by the Depositor of Certificates. The Depositor shall on the Closing Date receive in accordance with Section 3.02, and shall thereafter retain beneficial and record ownership of, Certificates representing at least [___]% of the Certificate Balance of the Class D Certificates. Any attempted transfer of any Certificate that would reduce such interest of the Depositor below [___]% of the Certificate Balance of the Class D Certificates shall be void. The Owner Trustee shall cause at least one Class D Certificate issued to the Depositor (representing at least [___]% of the Certificate Balance of such Class) to bear a legend stating "THIS CERTIFICATE IS NON-TRANSFERABLE".
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Samples: Trust Agreement (Nissan Auto Receivables Corp Ii), Trust Agreement (Nissan Auto Receivables Corp Ii), Trust Agreement (Nissan Auto Receivables Corp Ii)
Ownership by the Depositor of Certificates. The Depositor shall on the Closing Date receive in accordance with Section 3.02purchase, and shall thereafter retain beneficial and record ownership of, Certificates representing at least [___]% of the Certificate Balance of the Class D Certificates. Any attempted transfer of any Certificate that would reduce such interest of the Depositor below [___]% of the Certificate Balance of the Class D Certificates shall be void. The Owner Trustee shall cause at least one Class D Certificate issued to the Depositor (representing at least [___]% of the Certificate Balance of such Class) to bear a legend stating "THIS CERTIFICATE IS NON-TRANSFERABLE".
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