Receivables Trust Deed Sample Clauses

Receivables Trust Deed. The Receivables Trustee hereby declares that (1) on the date of this Deed, each of the Transferors and the Investor Beneficiary have transferred to the Receivables Trustee the sum of [GBP]1 to be held on trust on an undivided basis for the benefit of the Transferor Beneficiaries and the Investor Beneficiary as the initial Beneficiaries, and (2) the Receivables Trustee shall hold all Trust Property absolutely upon the trusts herein contained and described in this Clause 2.1 (and for the purposes referred to in this Clause 2.1) for the Investor Beneficiary and the Transferor Beneficiaries as the initial Beneficiaries, and for each nominated Affiliate of the Transferor Beneficiaries which accedes from time to time to the RSA as an Additional Transferor, and for each other person that becomes a Beneficiary pursuant to Clause 4. The Receivables Trustee shall hereby declare the following trusts held on the following basis for the following Beneficiaries:
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Receivables Trust Deed. The Receivables Trustee hereby declares that (a) on the original date of this Deed, the Transferor, the Loan Note Issuer No. 1 and the Loan Note Issuer No. 2 each transferred to the Receivables Trustee the sum of £10 to be held on trust on an undivided basis for the benefit of the Transferor Beneficiary and each of the Loan Note Issuer No. 1 and the Loan Note Issuer No. 2 as the initial Beneficiaries, and (b) the Receivables Trustee holds all Trust Property absolutely upon the trusts herein contained and described in this Clause 2.1 (and for the purposes referred to in this Clause 2.1) for each of the Loan Note Issuer No. 1 and the Loan Issuer No. 2 and the Transferor Beneficiary as the initial Beneficiaries, and for each other person that becomes a Beneficiary pursuant to Clause 4 (Trust Certificates, Trust Property Register and Additional Beneficiaries) of this Deed. The Receivables Trustee shall hereby declare the following trusts held on the following basis for the following beneficiaries:
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Receivables Trust Deed. The Receivables Trustee hereby declares that (1) on the date of this Deed, the Transferor, the CP Beneficiary, the Term Beneficiary and the Developments Beneficiary have each transferred to the Receivables Trustee the sum of £2 to be held on trust on an undivided basis for the benefit of the Transferor Beneficiary and each of the CP Beneficiary, the Term Beneficiary and the Developments Beneficiary as the initial Beneficiaries, and (2) the Receivables Trustee shall hold all Trust Property absolutely upon the trusts herein contained and described in this Clause
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Related to Receivables Trust Deed

  • Indenture Trustee Consent The consent of the Indenture Trustee will be required for any amendment pursuant to Sections 6.1(b) or (c) that has a material adverse effect on the rights, obligations, immunities or indemnities of the Indenture Trustee.

  • Depositor Structured Asset Securities Corporation, a Delaware corporation having its principal place of business in New York, or its successors in interest.

  • Servicing of Receivables The Master Servicer shall service the Receivables as required by the terms of this Agreement and in material compliance with its standard and customary procedures for servicing all its other comparable motor vehicle receivables and in compliance with applicable law; and

  • Custody of Trust Student Loan Files To assure uniform quality in servicing the Trust Student Loans and to reduce administrative costs, the Issuer hereby revocably appoints the Servicer, and the Servicer hereby accepts such appointment, to act for the benefit of the Issuer and the Indenture Trustee as custodian of the following documents or instruments (collectively the “Trust Student Loan Files”) which are hereby constructively delivered to the Indenture Trustee, as pledgee of the Issuer with respect to each Trust Student Loan:

  • Assignment of Administrative Receivables and Warranty Receivables Upon receipt of the Administrative Purchase Payment or the Warranty Payment with respect to an Administrative Receivable or a Warranty Receivable, respectively, the Owner Trustee shall assign, without recourse, representation or warranty, to the Servicer or the Warranty Purchaser, as applicable, all of the Issuing Entity’s right, title and interest in, to and under, and the Indenture Trustee shall be deemed automatically to have released its security interest in such Administrative Receivable or Warranty Receivable, all monies due thereon, the security interests in the related Financed Vehicle, proceeds from any Insurance Policies, proceeds from recourse against a Dealer on such Receivable and the interests of such Person or the Issuing Entity, as applicable, in rebates of premiums and other amounts relating to the Insurance Policies and any document relating thereto and all other related Purchased Property, such assignment being an assignment outright and not for security; and the Servicer or the Warranty Purchaser, as applicable, shall thereupon own such Receivable, and all such security and documents, free of any further obligations to the Indenture Trustee, the Owner Trustee, the Noteholders or the Certificateholders with respect thereto. If in any Proceeding it is held that the Servicer may not enforce a Receivable on the ground that it is not a real party in interest or a holder entitled to enforce the Receivable, the Indenture Trustee or the Owner Trustee, as applicable, shall, at the Servicer’s expense, take such steps as the Servicer deems necessary to enforce the Receivable, including bringing suit in the name of such Person or the names of the Noteholders or the Certificateholders.

  • Indenture Trustee In performing its obligations under this Agreement, the Indenture Trustee is subject to, and entitled to the benefits of, the Indenture. The Indenture Trustee will not have any liability for any act or failure to act of the Administrator.

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