Common use of The Equity Certificate Clause in Contracts

The Equity Certificate. (a) On the Closing Date, the Equity Certificate shall be issued to the Trust Depositor, substantially in the form of Exhibit B hereto. Upon receipt of a written order by the Owner Trustee from the Trust Depositor to execute and authenticate the Equity Certificate, the Equity Certificate shall be executed by the Owner Trustee on behalf of the Trust by manual or facsimile signature of an authorized officer of the Owner Trustee and, when so executed and authenticated pursuant to Section 3.03, shall be deemed to have been validly issued and shall be entitled to the benefits of this Agreement. The Equity Certificate bearing the manual or facsimile signature of individuals who were, at the time when such signatures were affixed, authorized to sign on behalf of the Owner Trustee shall be a valid and binding obligation of the Trust, notwithstanding that such individuals or any of them have ceased to be so authorized prior to the authentication and delivery of such Certificate or did not hold such offices at the date of the authentication and delivery of the Equity Certificate. The Equity Certificate shall be dated the date of its authentication.

The Equity Certificate. (a) On the Closing Date, the Equity Certificate shall be issued to the Trust Depositor, substantially in the form of Exhibit B hereto. Upon receipt of a written order by the Owner Trustee from the Trust Depositor to execute and authenticate the Equity Certificate, the Equity Certificate shall be executed by the Owner Trustee on behalf of the Trust by manual or facsimile signature of an authorized officer of the Owner Trustee and authenticated pursuant to Section 3.03 and, when so executed and authenticated pursuant to Section 3.03, shall be deemed to have been validly issued and shall be entitled to the benefits of this Agreement. The Equity Certificate bearing the manual or facsimile signature of individuals who were, at the time when such signatures were affixed, authorized to sign on behalf of the Owner Trustee shall be a valid and binding obligation of the Trust, notwithstanding that such individuals or any of them have ceased to be so authorized prior to the authentication and delivery of such Equity Certificate or did not hold such offices at the date of the authentication and delivery of the Equity Certificate. The Equity Certificate shall be dated the date of its authentication.