Common use of The Trust Certificates Clause in Contracts

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] and in integral multiples of $1,000 in excess thereof; provided, however, that the Trust Certificates issued to the Company pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 4 contracts

Samples: Trust Agreement (Chase Funding Inc), Trust Agreement (Chase Manhattan Acceptance Corp /De/), Trust Agreement (Cwabs Inc)

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The Trust Certificates. The Trust Certificates 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 Trust Certificate shall be issued in minimum authorized denominations of $[_______] and in integral multiples of $1,000 in excess thereof; provided, however, that the Trust Certificates issued to the Company pursuant to Section 3.10 may be issued less than a 100% Percentage Interest in such denomination as required to include any residual amountCertificates. The Trust Certificates shall be executed on behalf of the Trust by manual or facsimile signature of an authorized officer Authorized Officer of the Owner TrusteeTrustee and authenticated in the manner provided in Section 3.02. A Trust 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 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 Certificate or did not hold such offices at the date of authentication and delivery of such Trust CertificatesCertificate. A transferee of a Trust Certificate Person shall become a Certificateholder and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder upon such transferee's Person’s acceptance of a Trust Certificate duly registered in such transferee's Person’s name pursuant to Section 3.043.03.

Appears in 4 contracts

Samples: Trust Agreement (Structured Asset Sec Corp Thornburg Mort Sec Trust 2003 6), Trust Agreement (Greenwich Capital Acceptance, Inc New York Mortgage Trust 2005-1), Trust Agreement (Greenwich Capital Acceptance Thornburg Sec Tr 2003-4)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] 1,000 and in integral multiples of $1,000 in excess thereof; providedPROVIDED, howeverHOWEVER, that the Trust Certificates may be issued to the Company General Partner pursuant to Section 3.10 may be issued 3.12 in such denomination denominations as required to include any residual amountrepresent at least 1% of the initial Certificate Balance. 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 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 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 Certificateholder, and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder hereunder, upon due registration of such transferee's acceptance of a Trust Certificate duly registered in such transferee's name pursuant to Section 3.043.4.

Appears in 2 contracts

Samples: Trust Agreement (TMS Auto Holdings Inc), Trust Agreement (TMS Auto Holdings Inc)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] and in integral multiples of $1,000 in excess thereof; provided, however, that the Trust Certificates issued to the Company Depositor pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.. Each Trust Certificate issued in accordance with this Trust Agreement shall be deemed fully paid and non-assessable

Appears in 2 contracts

Samples: Trust Agreement (Morgan Stanley Abs Capital I Inc), Trust Agreement (Morgan Stanley Abs Capital I Inc)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] ____ and in integral multiples of $1,000 _______ in excess thereof; provided, however, that the Trust Certificates issued to the Company Depositor pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 2 contracts

Samples: Trust Agreement (Citigroup Vehicle Securities Inc), Trust Agreement (Morgan Stanley Abs Capital Ii Inc)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] 20,000 and in integral multiples of $1,000 in excess thereof; provided, however, that the Trust Certificates issued to the Company Depositor pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 2 contracts

Samples: Trust Agreement (First Merchants Acceptance Corp), Trust Agreement (First Merchants Acceptance Corp)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] 10,000 and in integral multiples of $1,000 ,0001 in excess thereof; provided, however, that the Trust Certificates issued to the Company pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 2 contracts

Samples: Trust Agreement (Gs Mortgage Securities Corp), Trust Agreement (Goldman Sachs Asset Backed Securities Corp)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] and in integral multiples of $1,000 in excess thereof; provided, however, that the Trust Certificates issued to the Company Depositor pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 1 contract

Samples: Trust Agreement (Morgan Stanley Abs Capital I Inc)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] and 1,000 or in integral multiples of $1,000 l,000 in excess thereof; provided, however, that the Trust Certificates issued to the Company pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. The Trust Certificates shall be executed on behalf of the Trust by manual or facsimile signature of an authorized officer of the Owner Eligible Lender 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 Trust, shall be validly issued by the Trust and entitled to the benefit 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. A transferee of a Trust Certificate Person shall become a Certificateholder Certificateholder, and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder hereunder, upon such transfereePerson's acceptance of a Trust Certificate duly registered in such transfereePerson's name pursuant to Section 3.04.

Appears in 1 contract

Samples: Trust Agreement (Signet Student Loan Trusts)

The Trust Certificates. The Trust Certificates shall be ----------------------- issued in minimum denominations of $[_______] and in integral multiples of $1,000 in excess thereof; provided, however, that the Trust Certificates issued to the Company pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 1 contract

Samples: Trust Agreement (First Horizon Asset Securities Inc)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] 20,000 and in integral multiples of $1,000 1 in excess thereof; provided, however, that the Trust Certificates issued to the Company pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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 ’s acceptance of a Trust Certificate duly registered in such transferee's ’s name pursuant to Section 3.04.

Appears in 1 contract

Samples: Trust Agreement (Goldman Sachs Asset Backed Securities Corp)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] and in integral multiples of $1,000 _______ in excess thereof; provided, however, that the Trust Certificates issued to the Company Companies pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 1 contract

Samples: Trust Agreement (Equity One Abs Inc)

The Trust Certificates. The Class A Trust Certificates shall be issued in minimum denominations of $[_______] 1,000 and in integral multiples of $1,000 in excess thereof; provided, however, that the thereof (except for one Trust Certificates issued to the Company pursuant to Section 3.10 Certificate which may be issued in such a denomination as required to include any residual amountother than an integral multiple of $1,000). The Class R Trust Certificates shall be issued in a 100% percentage interest in the Trust. 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 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 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 Certificateholder, and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder hereunder, upon due registration of such transferee's acceptance of a Trust Certificate duly registered in such transferee's name pursuant to Section 3.043.4. Upon issuance in accordance with this Trust Agreement, the Trust Certificates shall represent fully-paid, non-assessable beneficial interests in the assets of the Trust, and will entitle the Holders thereof to the benefits of this Trust Agreement.

Appears in 1 contract

Samples: Trust Agreement (Ml Asset Backed Corp)

The Trust Certificates. The Trust Certificates shall be ---------------------- issued in minimum denominations of $[(_______] ) and in integral multiples of $1,000 in excess thereof; provided, however, provided that the Trust Certificates issued to the -------- Company pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 1 contract

Samples: Trust Agreement (Indymac Abs Inc)

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The Trust Certificates. The Trust Certificates shall be ---------------------- issued in minimum denominations of $[_______] 20,000 and in integral multiples of $1,000 1 in excess thereof; provided, however, that the Trust Certificates issued to the Company pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 1 contract

Samples: Trust Agreement (Asset Backed Securities Corp)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[_______] _ and in integral multiples of $1,000 ____ in excess thereof; provided, however, that the Trust Certificates issued to the Company pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 1 contract

Samples: Trust Agreement (Beneficial Mortgage Services Inc)

The Trust Certificates. The Trust Certificates shall ---------------------- be issued in issuedin minimum denominations of $[(_______] ) and in integral multiples of $1,000 1 in excess thereof; provided, however, that the Trust Certificates issued to the Company Seller pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 1 contract

Samples: Trust Agreement (Provident Bank)

The Trust Certificates. The Trust Certificates shall represent a 100% Percentage Interest in the Trust. On the date hereof, the Depositor or its designee shall be issued in minimum denominations the sole Certificateholder of $[_______] and in integral multiples each of $1,000 in excess thereof; provided, however, that the Trust Certificates issued to and each of the Company pursuant to Section 3.10 may Trust Certificates shall be issued registered, upon initial issuance, in such denomination as required to include any residual amountthe 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 TrustOwner 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.

Appears in 1 contract

Samples: Trust Agreement (World Omni Auto Receivables LLC)

The Trust Certificates. The Trust Certificates shall represent a 100% Percentage Interest in the Trust. On the date hereof, the Depositor or its designee shall be issued in minimum denominations the sole Holder of $[_______] and in integral multiples each of $1,000 in excess thereof; provided, however, that the Trust Certificates issued to and each of the Company pursuant to Section 3.10 may Trust Certificates shall be issued registered, upon initial issuance, in such denomination as required to include any residual amountthe 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 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 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.

Appears in 1 contract

Samples: Trust Agreement (World Omni Auto Receivables LLC)

The Trust Certificates. The Trust Certificates shall represent a 100% Percentage Interest in the Trust. On the date hereof, the Depositor or its designee shall be issued in minimum denominations the sole Holder of $[_______] and in integral multiples each of $1,000 in excess thereof; provided, however, that the Trust Certificates issued to and each of the Company pursuant to Section 3.10 may Trust Certificates shall be issued registered, upon initial issuance, in such denomination as required to include any residual amountthe 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 TrustOwner 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.

Appears in 1 contract

Samples: Trust Agreement (World Omni Auto Receivables LLC)

The Trust Certificates. The Trust Certificates shall represent a 100% Percentage Interest in the Trust. On the date hereof, the Depositor or its designee shall be issued in minimum denominations the sole Certificateholder of $[_______] and in integral multiples each of $1,000 in excess thereof; provided, however, that the Trust Certificates issued to and each of the Company pursuant to Section 3.10 may Trust Certificates shall be issued registered, upon initial issuance, in such denomination as required to include any residual amountthe 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 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 TrustOwner 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 ’s acceptance of a Trust Certificate duly registered in such transferee's ’s name pursuant to Section 3.043.03.

Appears in 1 contract

Samples: Trust Agreement (World Omni Auto Leasing LLC)

The Trust Certificates. The Trust Certificates shall be issued in minimum denominations of $[________] and in integral multiples of $1,000 [____] in excess thereof; provided, however, that the Trust Certificates issued to the Company Depositor pursuant to Section 3.10 may be issued in such denomination as required to include any residual amount. 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 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 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.

Appears in 1 contract

Samples: Trust Agreement (World Omni Auto Receivables LLC)

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