Common use of The Ownership Certificate Clause in Contracts

The Ownership Certificate. The Ownership Certificate shall initially be issued as a single certificate in definitive, fully registered form and shall initially be registered in the name of the Initial Holder. No Ownership Certificate shall be issued in authorized denominations of less than a 100% Percentage Interest in such Certificate. The Ownership Certificate shall be executed on behalf of the Trust by manual or facsimile signature of an Authorized Officer of the Owner Trustee and authenticated in the manner provided in Section 3.02. An Ownership Certificate bearing the manual signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall be validly issued and entitled to the benefit of this Agreement, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Ownership Certificate or did not hold such offices at the date of authentication and delivery of such Ownership Certificate. A Person shall become a Certificateholder and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder upon such Person’s acceptance of an Ownership Certificate duly registered in such Person’s name pursuant to Section 3.03.

Appears in 18 contracts

Samples: Trust Agreement (TBALT Corp.), Trust Agreement (HomeBanc Mortgage Trust 2006-2), Trust Agreement (Homebanc Corp)

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The Ownership Certificate. The Ownership Certificate shall initially be issued as a single certificate in definitive, fully registered form and shall initially be registered in the name of the Initial Holder. No Ownership Certificate shall be issued in authorized denominations of less than a 100% Percentage Interest in such CertificateCertificates. The Ownership Certificate shall be executed on behalf of the Trust by manual or facsimile signature of an Authorized Officer of the Owner Trustee and authenticated in the manner provided in Section 3.02. An Ownership Certificate bearing the manual signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall be validly issued and entitled to the benefit of this Agreement, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Ownership Certificate or did not hold such offices at the date of authentication and delivery of such Ownership Certificate. A Person shall become a Certificateholder and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder upon such Person’s acceptance of an Ownership Certificate duly registered in such Person’s name pursuant to Section 3.03.

Appears in 3 contracts

Samples: Trust Agreement (SASCO Mortgage Loan Trust 2004-Gel3), Trust Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2), Trust Agreement (Sasco Mortgage Loan Trust Series 2003-Gel1)

The Ownership Certificate. The Ownership Certificate shall initially be issued as a single certificate in definitive, fully registered form and shall initially be registered in the name of the Initial HolderOwnership Certificateholder. No The Ownership Certificate shall not be issued in an authorized denominations denomination of less than a 100% Percentage Interest in such Ownership Certificate. The Ownership Certificate shall be executed on behalf of the Trust by manual or facsimile signature of an Authorized Trust Officer of the Owner Trustee and authenticated in the manner provided in Section 3.023.2. An The Ownership Certificate bearing the manual signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall be validly issued and entitled to the benefit of this Agreement, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such the Ownership Certificate or did not hold such offices at the date of authentication and delivery of such the Ownership Certificate. A Person shall become a the Ownership Certificateholder and shall be entitled to the rights and subject to the obligations of a the Ownership Certificateholder hereunder upon such Person’s acceptance registration of an the Ownership Certificate duly registered in such Person’s name pursuant to Section 3.033.3.

Appears in 2 contracts

Samples: Owner Trust Agreement (First NLC Securitization, Inc.), Owner Trust Agreement (FBR Securitization, Inc.)

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The Ownership Certificate. The Ownership Certificate shall initially be issued as a single certificate in definitive, fully registered form and shall initially be registered in the name of the Initial HolderOwnership Certificateholder. No The Ownership Certificate shall not be issued in an authorized denominations denomination of less than a 100% Percentage Interest in such Ownership Certificate. The Ownership Certificate shall be executed on behalf of the Trust by manual or facsimile signature of an Authorized Trust Officer of the Owner Trustee and authenticated in the manner provided in Section 3.023.2. An The Ownership Certificate bearing the manual signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall be validly issued and entitled to the benefit of this Agreement, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such the Ownership Certificate or did not hold such offices at the date of authentication and delivery of such the Ownership Certificate. A Person shall become a the Ownership Certificateholder and shall be entitled to the rights and subject to the obligations of a the Ownership Certificateholder hereunder upon such Person’s acceptance registration of an the Ownership Certificate duly registered in such Person’s 's name pursuant to Section 3.033.3.

Appears in 1 contract

Samples: Owner Trust Agreement (Lares Asset Securitization, Inc.)

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