Common use of Trust Property Ownership Clause in Contracts

Trust Property Ownership. Upon the formation of the Trust by the contribution by the Sponsor pursuant to Section 2.5, the Owner Trustee, contemporaneously therewith, having full power, authority, and authorization to do so, has executed, authenticated, dated, issued, and delivered, in the name and on behalf of the Trust, one (1) or more Residual Certificates representing in the aggregate a 100% interest in the Trust, and has registered such Residual Certificate(s) on the Certificate Register. The Residual Certificates shall be issued in two classes, Class B and Class G. Such Residual Certificate(s) are duly authorized, validly issued, and entitled to the benefits of this Agreement. The Sponsor shall at all times keep and own a Class G Certificate representing no less than a 1% Percentage Interest, and at no time will the Sponsor sell or alienate its interest represented by Class G Certificates in such a way as to reduce its aggregate beneficial ownership in the Class G Certificates to less than a 1% Percentage Interest.