Common use of Transfer of Property to Trust; Initial Capital Contribution of Trust Estate Clause in Contracts

Transfer of Property to Trust; Initial Capital Contribution of Trust Estate. The Beneficiary hereby assigns, grants and transfers over to the Owner Trustee, as of the date hereof, $1.00. The Owner Trustee hereby acknowledges receipt in trust from the Beneficiary, as of the date hereof, of the foregoing contribution, which constitutes the initial Trust Estate.

Appears in 3 contracts

Samples: Trust Agreement (Discover Bank), Trust Agreement (Discover Bank), Trust Agreement (Discover Card Master Trust I)

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Transfer of Property to Trust; Initial Capital Contribution of Trust Estate. The Beneficiary hereby assignshas assigned, grants granted and transfers transferred, over to the Owner Trustee, as of the date hereofof the Original Trust Agreement, $1.00. The Owner Trustee hereby acknowledges receipt in trust from the Beneficiary, as of the date hereofof the Original Trust Agreement, of the foregoing contribution, which constitutes constituted the initial Trust Estate.

Appears in 3 contracts

Samples: Trust Agreement (Capital One Funding, LLC), Trust Agreement (Capital One Master Trust), Trust Agreement (Capital One Master Trust)

Transfer of Property to Trust; Initial Capital Contribution of Trust Estate. The Each Beneficiary hereby sells, assigns, grants and transfers transfers, over to the Owner Trustee, as of the date hereof, $1.00. The Owner Trustee hereby acknowledges receipt in trust from the BeneficiaryBeneficiaries, as of the date hereof, of the foregoing contribution, which constitutes shall constitute the initial Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (Citibank Nevada National Association), Trust Agreement (Citibank Credit Card Master Trust I)

Transfer of Property to Trust; Initial Capital Contribution of Trust Estate. The Beneficiary hereby assignshas sold, grants assigned, granted and transfers transferred, over to the Owner Trustee, as of the date hereofof the Original Trust Agreement, $1.00. The Owner Trustee hereby acknowledges receipt in trust from the Beneficiary, as of the date hereofof the Original Trust Agreement, of the foregoing contribution, which constitutes constituted the initial Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (BA Credit Card Trust), Trust Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Transfer of Property to Trust; Initial Capital Contribution of Trust Estate. The Beneficiary hereby assignsFunding, grants as the initial beneficiary of the Trust, has sold, assigned, granted and transfers transferred over to the Owner TrusteeTrust, as of the date hereofof the Original Trust Agreement, $1.00. The Owner Trustee hereby acknowledges receipt in trust from the Beneficiarytrust, as of the date hereofof the Original Trust Agreement, of the foregoing contribution, which constitutes constituted the initial Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (WF Card Funding LLC)

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Transfer of Property to Trust; Initial Capital Contribution of Trust Estate. The Beneficiary hereby assigns, grants and transfers transfers, over to the Owner Trustee, as of the date hereof, $1.00. The Owner Trustee hereby acknowledges receipt in trust from the Beneficiary, as of the date hereof, of the foregoing contribution, which constitutes the initial Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Discover Card Master Trust I)

Transfer of Property to Trust; Initial Capital Contribution of Trust Estate. The Each Beneficiary hereby sells, assigns, grants and transfers transfers, over to the Owner Trustee, as of the date hereof, $1.00. The Owner Trustee hereby acknowledges receipt in trust from the BeneficiaryBeneficiaries, as of the date hereof, of the foregoing contribution, which constitutes will constitute the initial Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Citibank Credit Card Issuance Trust)

Transfer of Property to Trust; Initial Capital Contribution of Trust Estate. The Beneficiary hereby assignshas sold, grants assigned, granted and transfers transferred, over to the Owner Trustee, on behalf of the Trust, as of the date hereofof the Original Trust Agreement, $1.00. The Owner Trustee hereby acknowledges receipt in trust from the Beneficiary, as of the date hereofof the Original Trust Agreement, of the foregoing contribution, which constitutes constituted the initial Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (National City Bank /)

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