Common use of The Ownership Certificates Clause in Contracts

The Ownership Certificates. Initially, there shall be a single Ownership Certificate in definitive, fully registered form representing a 100% Percentage Interest which shall initially be registered in the name of the Initial Holder. No Ownership Certificates shall be issued in authorized denominations of less than 10% Percentage Interest and multiples of 1% in excess thereof. The Ownership Certificates 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. Any Ownership Certificates 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 Certificates or did not hold such offices at the date of authentication and delivery of such Ownership Certificates. 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 any Ownership Certificates duly registered in such Person’s name pursuant to Section 3.03.

The Ownership Certificates. Initially, there The Ownership Certificate shall initially be issued as a single Ownership Certificate certificate in definitive, fully registered form representing a 100% Percentage Interest which and shall initially be registered in the name of the applicable Initial Holder. No Ownership Certificates Certificate shall be issued in authorized denominations of less than 10a 100% Percentage Interest and multiples of 1% in excess thereofsuch Ownership Certificate. The Ownership Certificates 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. Any Each Ownership Certificates 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 each such Ownership Certificates Certificate or did not hold such offices at the date of authentication and delivery of each such Ownership CertificatesCertificate. 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 any a Ownership Certificates Certificate duly registered in such Person’s name pursuant to Section 3.033.3.