Common use of Trust Beneficial Interest Clause in Contracts

Trust Beneficial Interest. Contemporaneously with the execution and delivery of the Trust Agreement, the Trustee, on behalf of the Trust, shall cause the Trust Beneficial Owner to be recorded as the registered owner of the Trust Beneficial Interest on the Securities Register, against payment of $15 (multiplied by the issue price of the Notes in the case of Notes that are discount notes) by the Trust Beneficial Owner to, or to an account at the direction of, the Trustee.

Trust Beneficial Interest. Contemporaneously with the execution and delivery of the Trust this Agreement, the Trustee, on behalf of the Trust, shall cause the Trust Beneficial Owner to be recorded as the registered owner of the Trust Beneficial Interest on the Trust’s Securities Register, against payment of $15 (multiplied by or, if the Trust issues Notes at a discount, the product of $15 and the issue price (expressed as a percentage of the Notes in original principal amount of the case of Notes that are discount notesNotes)) by the Trust Beneficial Owner to, or to an account at the direction of, the Trustee.