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. The Equity Certificate shall be issued with an original Certificate balance equal to the Certificate Balance. 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, upon authentication pursuant to Section 3.03, shall be deemed to have been validly issued when so executed and authenticated. 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 Initial Closing Date, the Equity Certificate shall be issued to the Trust DepositorTransferor, substantially in the form of Exhibit B hereto. The Equity Certificate shall be issued with an original Certificate balance equal to the Certificate Balance. 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 andTrustee, upon authentication authenticated pursuant to Section 3.033.03 and delivered to or at the written direction of the Transferor, and, when so executed, authenticated and delivered, shall be deemed to have been validly issued when so executed and authenticatedshall 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.