Undivided Co-Ownership of the Account Assets Sample Clauses

Undivided Co-Ownership of the Account Assets. Without detracting from the rights, title and interest of the Co-Owners specified in Section 6.1(1), on any day, the Co-Owners of each Series and the Seller shall own an undivided co-ownership interest in the Account Assets, as tenants-in-common with each other Co-Owner. The undivided co-ownership interest of the Co-Owners of each Series shall be that proportion of the entire ownership interest in the Account Assets that (a) on each day, other than a Reporting Day, the Unadjusted Invested Amount of that Series is of the Pool Balance for that day, and (b) on a Reporting Day, the Invested Amount of that Series is of the Pool Balance for that day. The undivided co-ownership interest of the Seller on each day shall be the Retained Interest Amount. No Co-Owner nor the Seller, as a co-owner of the Account Assets, shall have a separate interest in or to any Receivable under any particular Account, but rather each shall be entitled to:
Sample 1
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Undivided Co-Ownership of the Account Assets. Without detracting from the rights, title and interest of the Co-Owners specified in Section 6.1(1), on any day, the Co-Owners of each Series and the Seller shall own an undivided co-ownership interest in the Account Assets, as tenants-in-common with each other Co-Owner. The undivided co-ownership interest of the Co-Owners of each Series shall be that proportion of the entire ownership interest in the Account Assets that (a) on each day, other than a Reporting Day, the Unadjusted Invested Amount of that Series is of the Pool Balance for that day, and
Sample 1

Related to Undivided Co-Ownership of the Account Assets

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