Common use of The Trust Certificates Clause in Contracts

The Trust Certificates. The Trust Certificates shall be substantially in the form set forth in Exhibit A. Except for the issuance of the Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and void. The Trust Certificates may be in printed or in typewritten form, and may be executed on behalf of the Issuer by manual or facsimile signature of an Authenticating Agent. 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 Issuer, shall be validly issued and entitled to the benefits 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. If registration of a transfer of a Trust Certificate is permitted pursuant to Section 3.04, the transferee of such Trust Certificate shall become a Trust Certificateholder, and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, upon due registration of such Trust Certificate in such transferee’s name pursuant to Section 3.04.

Appears in 20 contracts

Samples: Trust Agreement (BMW Auto Leasing LLC), Trust Agreement (BMW Auto Leasing LLC), Trust Agreement (Financial Services Vehicle Trust)

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The Trust Certificates. The trust certificates (each evidencing the beneficial interest of the Certificateholder in the Issuing Entity and substantially in the form of Exhibit A hereto, a “Trust Certificate”) shall in the aggregate represent 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 substantially in the form set forth in Exhibit A. Except for the issuance of the Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and void. The Trust Certificates may be in printed or in typewritten form, and may be executed on behalf of the Issuer Trust by manual or facsimile signature of an Authenticating AgentAuthorized 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 IssuerOwner Trustee, shall be validly issued and entitled to the benefits 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. If registration A transferee of a transfer of a Trust Certificate is permitted pursuant to Section 3.04, the transferee of such Trust Certificate shall become a Trust Certificateholder, Certificateholder and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, hereunder upon due registration such transferee’s acceptance of such a Trust Certificate duly registered in such transferee’s name pursuant to Section 3.043.03.

Appears in 19 contracts

Samples: Trust Agreement (World Omni LT), Trust Agreement (World Omni LT), Trust Agreement (World Omni LT)

The Trust Certificates. The trust certificates (each evidencing the beneficial interest of the Certificateholder in the Issuing Entity and substantially in the form of Exhibit A hereto, a "Trust Certificate") shall in the aggregate represent 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 substantially in the form set forth in Exhibit A. Except for the issuance of the Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and void. The Trust Certificates may be in printed or in typewritten form, and may be executed on behalf of the Issuer Trust by manual or facsimile signature of an Authenticating AgentAuthorized 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 IssuerOwner Trustee, shall be validly issued and entitled to the benefits 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. If registration A transferee of a transfer of a Trust Certificate is permitted pursuant to Section 3.04, the transferee of such Trust Certificate shall become a Trust Certificateholder, Certificateholder and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, hereunder upon due registration such transferee's acceptance of such a Trust Certificate duly registered in such transferee’s 's name pursuant to Section 3.043.03.

Appears in 16 contracts

Samples: Trust Agreement (World Omni LT), Trust Agreement (World Omni LT), Trust Agreement (World Omni Automobile Lease Securitization Trust 2019-A)

The Trust Certificates. (a) The Trust Certificates shall be substantially issued in minimum denominations of a one percent (1%) Percentage Interest in the form set forth in Exhibit A. Except for the issuance of the Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and voidTrust. The Trust Certificates may be in printed or in typewritten form, and may shall be executed on behalf of the Issuer Trust by manual or facsimile signature of an Authenticating Agentauthorized 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 IssuerTrust, shall be validly issued and entitled to the benefits benefit of this AgreementAgreement and 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 Trust Certificates or did not hold such offices at the date of authentication and delivery of such Trust Certificates. If registration of a transfer . (b) A transferee of a Trust Certificate is permitted pursuant to Section 3.04Certificate, the transferee of such Trust Certificate if any, shall become a Trust Certificateholder, shall become bound by this Agreement and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, hereunder upon due registration such transferee's acceptance of such a Trust Certificate duly registered in such transferee’s 's name pursuant to Section 3.04.

Appears in 6 contracts

Samples: Trust Agreement (Merrill Auto Trust Securitization 2007-1), Trust Agreement (Ml Asset Backed Corp), Trust Agreement (Morgan Stanley Auto Loan Trust 2003-Hb1)

The Trust Certificates. The Trust Certificates shall be substantially initially issued to the Depositor as a single Certificate in the form set forth in Exhibit A. Except for the issuance a Percentage Interest of the 100%. The Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and voiddivisible into denominations of a single class representing minimum Percentage Interests of not less than 5%. The Trust Certificates may be in printed or in typewritten form, and may shall be executed on behalf of the Issuer Trust by manual or facsimile signature of an Authenticating Agentauthorized officer of the Owner Trustee, and the Owner Trustee shall have the power and authority and it is hereby authorized and empowered, in the name and on behalf of the Trust to authorize, execute, issue and deliver the Trust Certificates. 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 IssuerTrust, shall be validly issued and entitled to the benefits 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. If registration A transferee of a transfer of a Trust Certificate is permitted pursuant to Section 3.04, the transferee of such Trust Certificate shall become a Trust Certificateholder, and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, upon due registration of such Trust Certificate in such transferee’s name pursuant to Section 3.043.4.

Appears in 5 contracts

Samples: Trust Agreement (Franklin Auto Trust 2008-A), Trust Agreement (Franklin Auto Trust 2007-1), Trust Agreement (Franklin Auto Trust 2005-1)

The Trust Certificates. The Trust Certificates shall be substantially in the form set forth in of Exhibit A. Except for the issuance of the Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and void. The Trust Certificates may be in printed or in typewritten form, and may shall be executed on behalf of the Issuer Trust by manual or facsimile signature of an Authenticating Agentauthorized 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 IssuerTrust, shall be validly issued and entitled to the benefits benefit of this AgreementAgreement and 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 Trust Certificates or did not hold such offices at the date of authentication and delivery of such Trust Certificates. If registration of a transfer of a the Trust Certificate Certificates is permitted pursuant to Section 3.043.11, the a transferee of such a Trust Certificate shall become a Trust Certificateholder, Certificateholder and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, hereunder upon due registration such transferee's acceptance of such a Trust Certificate duly registered in such transferee’s 's name pursuant to Section 3.04.

Appears in 4 contracts

Samples: Trust Agreement (BMW Vehicle Owner Trust 2004-A), Trust Agreement (BMW Vehicle Owner Trust 2006-A), Trust Agreement (BMW Vehicle Owner Trust 2005-A)

The Trust Certificates. The Trust Certificates shall be substantially initially issued to the Seller as a single Certificate in the form set forth in Exhibit A. Except for the issuance a Percentage Interest of the 100%. The Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and voiddivisible into denominations of a single class representing minimum Percentage Interests of not less than 5%. The Trust Certificates may be in printed or in typewritten form, and may shall be executed on behalf of the Issuer Trust by manual or facsimile signature of an Authenticating Agentauthorized officer of the Owner Trustee, and the Owner Trustee shall have the power and authority and it is hereby authorized and empowered, in the name and on behalf of the Trust to authorize, execute, issue and deliver the Trust Certificates. 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 IssuerTrust, shall be validly issued and entitled to the benefits 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. If registration A transferee of a transfer of a Trust Certificate is permitted pursuant to Section 3.04, the transferee of such Trust Certificate shall become a Trust Certificateholder, and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, upon due registration of such Trust Certificate in such transferee’s name pursuant to Section 3.043.4.

Appears in 4 contracts

Samples: Trust Agreement (Franklin Auto Trust 2004-2), Trust Agreement (Franklin Auto Trust 2003-2), Trust Agreement (Franklin Auto Trust 2004-1)

The Trust Certificates. The Trust Certificates shall be substantially initially issued to the Seller as a single Certificate in the form set forth in Exhibit A. Except for the issuance a Percentage Interest of the 100%. The Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and voiddivisible into denominations of a single class representing minimum Percentage Interests of not less than 5%. The Trust Certificates may be in printed or in typewritten form, and may shall be executed on behalf of the Issuer Trust by manual or facsimile signature of an Authenticating Agentauthorized officer of the Owner Trustee, and the Owner Trustee shall have the power and authority and it is hereby authorized and empowered, in the name and on behalf of the Trust to authorize, execute, issue and deliver the Trust Certificates. 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 IssuerTrust, shall be validly issued and entitled to the benefits 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. If registration A transferee of a transfer of a Trust Certificate is permitted pursuant to Section 3.04, the transferee of such Trust Certificate shall become a Trust Certificateholder, and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, upon due registration of such Trust Certificate in such transferee’s 's name pursuant to Section 3.043.4.

Appears in 3 contracts

Samples: Trust Agreement (Franklin Receivables LLC), Trust Agreement (Franklin Receivables LLC), Trust Agreement (Franklin Receivables LLC)

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The Trust Certificates. The Trust Certificates shall be substantially issued in minimum denominations of a one percent (1%) Percentage Interest in the form set forth in Exhibit A. Except for the issuance of the Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and voidTrust. The Trust Certificates may be in printed or in typewritten form, and may shall be executed on behalf of the Issuer by manual or facsimile signature of an Authenticating Agentauthorized 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 IssuerOwner Trustee, shall be validly issued and entitled to the benefits benefit of this AgreementAgreement and shall be valid and binding obligations of the Owner Trustee, 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. If registration of a transfer A transferee of a Trust Certificate is permitted pursuant to Section 3.04Certificate, the transferee of such Trust Certificate if any, shall become a Trust Certificateholder, shall become bound by this Agreement and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, hereunder upon due registration such transferee's acceptance of such a Trust Certificate duly registered in such transferee’s 's name pursuant to Section 3.04.

Appears in 3 contracts

Samples: Trust Agreement (Regions Auto Receivables Trust 2002-1), Trust Agreement (Regions Auto Receivables Trust 2003-1), Trust Agreement (Regions Acceptance LLC Regions Auto Receivables Tr 2003-2)

The Trust Certificates. The Trust Certificates shall be substantially in the form set forth in of Exhibit A. Except for the issuance of the Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and void. The Trust Certificates may be in printed or in typewritten form, and may shall be executed on behalf of the Issuer Trust by manual or facsimile signature of an Authenticating Agentauthorized 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 IssuerTrust, shall be validly issued and entitled to the benefits benefit of this AgreementAgreement and 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 Trust Certificates or did not hold such offices at the date of authentication and delivery of such Trust Certificates. If registration of a transfer of a the Trust Certificate Certificates is permitted pursuant to Section 3.043.11, the a transferee of such a Trust Certificate shall become a Trust Certificateholder, Certificateholder and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, hereunder upon due registration such transferee’s acceptance of such a Trust Certificate duly registered in such transferee’s name pursuant to Section 3.04.

Appears in 2 contracts

Samples: Trust Agreement (BMW Fs Securities LLC), Trust Agreement (BMW Fs Securities LLC)

The Trust Certificates. (a) The Trust Certificates shall be substantially issued in the form set forth two classes (Class R and Class E) and in Exhibit A. Except for the issuance minimum denominations of the Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and voida one percent (1%) Percentage Interest. The Trust Certificates may be in printed or in typewritten form, and may shall be executed on behalf of the Issuer Trust by manual or facsimile signature of an Authenticating Agentauthorized 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 IssuerTrust, shall be validly issued and entitled to the benefits benefit of this AgreementAgreement and 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 Trust Certificates or did not hold such offices at the date of authentication and delivery of such Trust Certificates. If registration of a transfer . (b) A transferee of a Trust Certificate is permitted pursuant to Section 3.04Certificate, the transferee of such Trust Certificate if any, shall become a Trust Certificateholder, shall become bound by this Agreement and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, hereunder upon due registration such transferee’s acceptance of such a Trust Certificate duly registered in such transferee’s name pursuant to Section 3.04.

Appears in 1 contract

Samples: Trust Agreement (Merrill Auto Trust Securitization 2008-1)

The Trust Certificates. The Trust Certificates shall be substantially in the form set forth in of Exhibit A. Except for the issuance of the Trust Certificate to the Transferor, no Trust Certificate may be sold, pledged or otherwise transferred to any Person except in accordance with Section 3.04 and Section 3.10, as applicable, and any attempted sale, pledge or transfer in violation of Section 3.04 or Section 3.10, as applicable shall be null and void. The Trust Certificates may be in printed or in typewritten form, and may shall be executed on behalf of the Issuer Trust by manual or facsimile signature of an Authenticating Agenta Trust 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 IssuerTrust, shall be validly issued and entitled to the benefits benefit of this AgreementAgreement and 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 Trust Certificates or did not hold such offices at the date of authentication and delivery of such Trust Certificates. If registration of a transfer of a the Trust Certificate Certificates is permitted pursuant to Section 3.043.11, the a transferee of such a Trust Certificate shall become a Trust Certificateholder, Certificateholder and shall be entitled to the rights and subject to the obligations of a Trust Certificateholder hereunder, hereunder upon due registration such transferee's acceptance of such a Trust Certificate duly registered in such transferee’s 's name pursuant to Section 3.04.

Appears in 1 contract

Samples: Trust Agreement (BMW Fs Securities LLC)

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