Common use of Title to Trust Property Clause in Contracts

Title to Trust Property. Legal title to the entirety of the Owner Trust Estate shall be vested at all times in the Trust as a separate legal entity, except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee or a separate trustee, as the case may be; provided, that concurrently with or prior to title being deemed to be vested in a co-trustee or a separate trustee, such trustee must provide a written grant of a security interest in the Owner Trust Estate to the Indenture Trustee and must authorize the filing of a financing statement to perfect the Indenture Trustee’s security interest.

Title to Trust Property. Legal title to the entirety of the Owner Trust Estate Property shall be vested at all times in the Trust Issuer as a separate legal entity, entity except where applicable law Applicable Law in any jurisdiction requires title to any part of the Owner Trust Estate Property to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee or and/or a separate trustee, as the case may be; provided, that concurrently with or prior to title being deemed to be vested in a co-trustee or a and/or separate trustee, such trustee must provide a written grant of a security interest in the Owner Trust Estate Property to the Indenture Trustee and must authorize the filing of a one or more financing statement statements to perfect the Indenture Trustee’s security interest.

Title to Trust Property. Legal title to the entirety of the Owner Trust Estate shall be vested at all times in the Trust as a separate legal entity, except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee or and/or a separate trustee, as the case may be; provided, that concurrently with or prior to title being deemed to be vested in a co-trustee or and/or a separate trustee, such trustee must provide a written grant of a security interest in the Owner Trust Estate to the Indenture Trustee and must authorize the filing of a financing statement to perfect the Indenture Trustee’s security interest.

Title to Trust Property. Legal title to the entirety of the Owner Trust Estate Property shall be vested at all times in the Trust Issuer as a separate legal entity, entity except where applicable law Applicable Law in any jurisdiction requires title to any part of the Owner Trust Estate Property to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee or a separate trustee, as the case may be; provided, that concurrently with or prior to title being deemed to be vested in a co-trustee or a and/or separate trustee, such trustee must provide a written grant of a security interest in the Owner Trust Estate Property to the Indenture Trustee and must authorize the filing of a financing statement to perfect the Indenture Trustee’s security interest.