THE TRANSFEROR CERTIFICATES Sample Clauses

THE TRANSFEROR CERTIFICATES. Section 3.01 Initial Beneficiary of Trust....................8 Section 3.02 Issuance of the Transferor Certificates.........8 Section 3.03
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THE TRANSFEROR CERTIFICATES. Section 3.01.
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THE TRANSFEROR CERTIFICATES. (a) Pursuant to Section 3806(b)(2) of the Business Trust Statute, the Trust may issue Transferor Certificates in one or more Series, the principal terms of which shall be in a Series Trust Supplement for the Series. The Transferor Certificates of all outstanding Series shall be equally and ratably entitled to the benefits of this Master Trust Agreement, without preference, priority, or distinction, except, with respect to any Series as provided in the related Series Trust Supplement and except that no Transferor Certificate shall have any interest in any subtrust or the assets of any subtrust other than its related subtrust. (b) By the issuance date of any Transferor Certificate, the Depositor and the Owner Trustee shall execute and deliver a Series Trust Supplement specifying the principal terms of the Series. The terms of the Series Trust Supplement may change the terms of this Master Trust Agreement solely as applied to its Series and subtrust. If a conflict exists between this Master Trust Agreement and any Series Trust Supplement, the Series Trust Supplement shall be controlling for its Series and subtrust. An issuance of Transferor Certificates by the Trust is subject to the satisfaction of the following conditions: (i) By the fifth Business Day before the issuance date of the Series, the Administrator shall have given the Servicer, the Indenture Trustee, the Owner Trustee, each Rating Agency, and any Credit Enhancer written notice of the issuance and its issuance date. The notice shall state the designation of the Series. (ii) The Administrator shall have delivered to the Depositor, the Indenture Trustee, and the Owner Trustee, at least five Business Days before the issuance date of the Series, the related Series Trust Supplement, in form satisfactory to the Owner Trustee, specifying the principal terms of the Series. When the above conditions are satified the Depositor and the Owner Trustee shall execute the Series Trust Supplement and shall execute, deliver, and authenticate the Transferor Certificates of the new Series to the order of the Depositor. Notwithstanding the provisions of this Section, before the execution of any Series Trust Supplement, the Owner Trustee may request and rely on an Opinion of Counsel stating that the execution of the Series Trust Supplement is authorized or permitted by this Master Trust Agreement and any Series Trust Supplement related to any outstanding Series. The Owner Trustee may, but shall not be obligated to, en...
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THE TRANSFEROR CERTIFICATES. 51 Section 4.02. Authentication and Delivery of Transferor Certificate...........................................51 Section 4.03. No Transfer of Transferor Certificate...........................................................52 Section 4.04. Mutilated, Destroyed, Lost or Stolen Certificates...............................................52 Section 4.05. Persons Deemed Owners...........................................................................52 ARTICLE FIVE THE TRANSFEROR
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THE TRANSFEROR CERTIFICATES. A single Transferor Certificate shall be issued. The Transferor Certificate shall be executed on behalf of the Owner Trustee by manual or facsimile signature of a Responsible Officer under the Owner Trustee's seal imprinted thereon and attested on behalf of the Owner Trustee by the manual or facsimile signature of a Responsible Officer. A Transferor Certificate bearing the manual or facsimile signatures 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 Transferor Certificate or did not hold such offices at the date of such Transferor Certificate. The Transferor Certificate shall be dated the date of its authentication.
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THE TRANSFEROR CERTIFICATES 
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Related to THE TRANSFEROR CERTIFICATES

  • Class R Certificates Subordinated Certificates.... Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates.

  • Class PO Certificates Private Certificates..................................... Class P, Class B-4, Class B-5 and Class B-6 Certificates. Rating Agencies.......................................... Fitch and S&P. Regular Certificates..................................... All Classes of Certificates other than the Class A-R Certificates. Residual Certificate..................................... Class A-R Certificates.

  • TERMS FOR CERTIFICATES Section 11.01 Cut-Off Date................................................. Section 11.02 Cut-Off Date Aggregate Principal Balance..................... Section 11.03

  • Initial Certificate Ownership Since the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5, the Depositor has been the sole Certificateholder.

  • Other Certificates Any other certificates of approval, acceptance or compliance required by Lender from any Governmental Authority having jurisdiction over the Mortgaged Property and the Repairs.

  • Senior Certificates Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-4, Class 1-A-5, Class 1-A-6, Class 1-A-7, Class 1-A-8, Class 1-A-9, Class 1-A-10, Class 1-A-11, Class 1-A-12, Class 1-A-13, Class 1-A-14, Class 1-A-15, Class 1-A-16, Class 1-A-17, Class 1-A-18, Class 1-A-19, Class 1-A-20, Class 1-A-21, Class 1-A-22, Class 1-A-R, Class 1-A-MR and Class 1-A-LR Certificates.

  • The Certificate Account (a) On or prior to the Closing Date, the Trustee shall establish or cause to be established the Certificate Account, which shall be entitled “Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-7 Trust Certificate Account under the Pooling and Servicing Agreement, dated as of August 1, 2005, among Washington Mutual Mortgage Securities Corp., as Depositor, Washington Mutual Bank, as Servicer, LaSalle Bank National Association, as the Trustee, and Christiana Bank & Trust Company, as the Delaware Trustee, for the benefit of Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-7 Trust created pursuant thereto”. Promptly after the Closing Date, the Trustee shall communicate to the Servicer the account number and wiring instructions for the Certificate Account. Not later than the Business Day prior to the related Distribution Date, the Servicer shall direct the Investment Depository to deposit into the Certificate Account the amounts previously deposited into the Investment Account (which may include a deposit of Eligible Investments) to which the Holders of the REMIC I Regular Interests and the Class R-1 Residual Interest are entitled or which are necessary for payment of any Special Primary Insurance Premiums. In addition, not later than the Business Day prior to the Distribution Date, the Servicer shall deposit into the Certificate Account any Monthly P&I Advances or other payments required to be made by the Servicer pursuant to Section 4.02 of this Agreement and any Insurance Proceeds or Liquidation Proceeds (including amounts paid by the Company in respect of any Purchase Obligation) not previously deposited in the Custodial Accounts for P&I or the Investment Account, and any amounts paid by the Servicer in connection with the exercise of its option to terminate this Agreement pursuant to Section 9.01 or any other purchase of Mortgage Loans permitted by this Agreement. (b) Funds held in the Certificate Account shall be invested at the written direction of the Servicer in (i) one or more Eligible Investments which shall in no event mature later than the Business Day prior to the related Distribution Date (except if such Eligible Investments are obligations of the Trustee, such Eligible Investments may mature on the Distribution Date), or (ii) such other instruments as shall be required to maintain the Ratings. The Servicer shall be entitled to receive any gains earned on such Eligible Investments and shall bear any losses suffered in connection therewith. If the Trustee has not received such written investment directions from the Servicer, the Trustee shall not invest funds held in the Certificate Account. The Trustee shall have no liability for any losses on investments of funds held in the Certificate Account.

  • Servicer May Own Notes or Certificates The Servicer, and any Affiliate of the Servicer, may, in its individual or any other capacity, become the owner or pledgee of Notes or Certificates with the same rights as it would have if it were not the Servicer or an Affiliate thereof, except as otherwise expressly provided herein or in the other Basic Documents. Except as set forth herein or in the other Basic Documents, Notes and Certificates so owned by or pledged to the Servicer or such Affiliate shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority or distinction as among all of the Notes and Certificates.

  • The Trust Certificates The Trust Certificates shall represent in the aggregate a 100% Percentage Interest in the Trust. On the date hereof, the Depositor or its designee shall be the sole Certificateholder of each of the Trust Certificates and each of the Trust Certificates shall be registered, upon initial issuance, in the name of the Depositor or its designee. The Trust Certificates shall be executed on behalf of the Trust by manual or facsimile signature of an Authorized Officer of the Owner Trustee. Trust 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 Owner Trustee, 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 Trust Certificates or did not hold such offices at the date of authentication and delivery of such Trust Certificates. A transferee of a Trust Certificate shall become a Certificateholder and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder upon such transferee’s acceptance of a Trust Certificate duly registered in such transferee’s name pursuant to Section 3.04.

  • Form of the Certificates (a) The Certificates shall be substantially in the form of Exhibit A. The Certificates shall represent the entire beneficial interest in the Trust. The Certificates shall be executed on behalf of the Trust by manual or facsimile signature of a Responsible Officer of the Owner Trustee. 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 duly issued, fully paid and non-assessable beneficial interests in 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 Certificates or did not hold such offices at the date of authentication and delivery of such Certificates. (b) The Certificates shall be typewritten, printed, lithographed or engraved or produced by any combination of these methods (with or without steel engraved borders) all as determined by the officers executing such Certificates, as evidenced by their execution of such Certificates. The Certificates shall be fully registered. (c) The Certificates shall be issued in fully-registered form. The terms of the Certificates set forth in Exhibit A shall form part of this Agreement.

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