Common use of The Residual Interest Certificates Clause in Contracts

The Residual Interest Certificates. The Residual Interest Certificates shall not be issued with a principal amount. The Residual Interest Certificates shall be executed on behalf of the Trust by manual or facsimile signature of a Trust Officer of the Owner Trustee. Residual Interest Certificates bearing the manual or facsimile 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 valid and binding obligations of the Trust, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Residual Interest Certificates or did not hold such offices at the date of authentication and delivery of such Residual Interest Certificates. A transferee of a Residual Interest Certificate shall become an Owner, and shall be entitled to the rights and subject to the obligations of an Owner hereunder and under the Sale and Servicing Agreement, upon such transferee's acceptance of a Residual Interest Certificate duly registered in such transferee's name pursuant to Section 3.4.

The Residual Interest Certificates. The Residual ---------------------------------- Interest Certificates shall not be issued with a principal amount. The Residual Interest Certificates shall be executed on behalf of the Trust by manual or facsimile signature of a Trust Officer of the Owner Trustee. Residual Interest Certificates bearing the manual or facsimile 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 valid and binding obligations of the Trust, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Residual Interest Certificates or did not hold such offices at the date of authentication and delivery of such Residual Interest Certificates. A transferee of a Residual Interest Certificate shall become an Owner, and shall be entitled to the rights and subject to the obligations of an Owner hereunder and under the Sale and Master Servicing Agreement, upon such transferee's acceptance of a Residual Interest Certificate duly registered in such transferee's name pursuant to Section 3.4.. -----------

The Residual Interest Certificates. The Residual Interest Certificates shall not be issued with a principal amount. The Residual Interest Certificates shall be executed on behalf of the Trust by manual or facsimile signature of a Trust Officer of the Owner Trustee. Residual Interest Certificates bearing the manual or facsimile 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 valid and binding obligations of the Trust, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Residual Interest Certificates or did not hold such offices at the date of authentication and delivery of such Residual Interest Certificates. A transferee of a Residual Interest Certificate shall become an Owner, and shall be entitled to the rights and subject to the obligations of an Owner hereunder and under the Sale and Servicing Agreement, upon such transferee's ’s acceptance of a Residual Interest Certificate duly registered in such transferee's ’s name pursuant to Section 3.4.

The Residual Interest Certificates. The Residual Interest Certificates shall not be issued with a principal amount. The Residual Interest Certificates shall be executed on behalf of the Trust by manual or facsimile signature of a Trust Officer of the Owner Trustee. Residual Interest Certificates bearing the manual or facsimile 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 valid and binding obligations of the Trust, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Residual Interest Certificates or did not hold such offices at the date of authentication and delivery of such Residual Interest Certificates. A transferee of a Residual Interest Certificate shall become an Owner, and shall be entitled to the rights and subject to the obligations of an Owner hereunder and under the Sale and Servicing Agreement, upon such transferee's acceptance of a Residual Interest Certificate duly registered in such transferee's name pursuant to Section SECTION 3.4.

The Residual Interest Certificates. The Residual Interest Certificates shall not initially be issued with as a principal amountsingle certificate in definitive, fully registered form and shall initially be registered in the name of the Initial Holder. No Residual Interest Certificate shall be issued in authorized denominations of less than a 100% Percentage Interest in such Certificates. The Residual Interest Certificates shall be executed on behalf of the Trust by manual or facsimile signature of a Trust an Authorized Officer of the Owner TrusteeTrustee and authenticated in the manner provided in Section 3.02. A Residual Interest Certificates Certificate bearing the manual or facsimile 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 valid validly issued and binding obligations entitled to the benefit of the Trustthis Agreement, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Residual Interest Certificates Certificate or did not hold such offices at the date of authentication and delivery of such Residual Interest CertificatesCertificate. A transferee of a Residual Interest Certificate Person shall become an Owner, a Certificateholder and shall be entitled to the rights and subject to the obligations of an Owner a Certificateholder hereunder and under the Sale and Servicing Agreement, upon such transferee's Person’s acceptance of a Residual Interest Certificate duly registered in such transferee's Person’s name pursuant to Section 3.43.03.

The Residual Interest Certificates. The Residual Interest Certificates shall not be issued with a principal amount. The Residual Interest Certificates shall be executed on behalf of the Trust by manual or facsimile signature of a Trust Officer of the Owner Trustee. Residual Interest Certificates bearing the manual or facsimile 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 valid and binding obligations of the Trust, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Residual Interest Certificates or did not hold such offices at the date of authentication and delivery of such Residual Interest Certificates. A transferee of a Residual Interest Certificate shall become an Owner, and shall be entitled to the rights and subject to the obligations of an Owner hereunder and under the Sale and Servicing AgreementIndenture, upon such transferee's ’s acceptance of a Residual Interest Certificate duly registered in such transferee's ’s name pursuant to Section 3.4.

The Residual Interest Certificates. The Residual ---------------------------------- Interest Certificates shall not be issued with a principal amount. The Residual Interest Certificates shall be executed on behalf of the Trust by manual or facsimile signature of a Trust Officer of the Owner Trustee. Residual Interest Certificates bearing the manual or facsimile 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 valid and binding obligations of the Trust, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Residual Interest Certificates or did not hold such offices at the date of authentication and delivery of such Residual Interest Certificates. A transferee of a Residual Interest Certificate shall become an Owner, and shall be entitled to the rights and subject to the obligations of an Owner hereunder and under the Sale and Servicing Agreement, upon such transferee's acceptance of a Residual Interest Certificate duly registered in such transferee's name pursuant to Section 3.4.. -----------