Undivided Trust Interest. (a) The UTI Beneficiary shall hold an exclusive, undivided beneficial interest in all assets of the Trust (the “Undivided Trust Interest” or the “UTI”), other than those divided, identified Trust Assets that are from time to time allocated by the UTI Beneficiary upon the UTI Beneficiary’s written direction and otherwise in accordance with Section 4.2, into one or more separate portfolios of Trust Assets (together with any other Trust Assets allocated to or earned by any such portfolio(s), and any proceeds thereof, collectively, “SUBI Assets,” and all Trust Assets, other than SUBI Assets, are referred to collectively as the “UTI Assets”).
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Samples: Trust Agreement (GE TF Trust), Trust Agreement (GECB Equipment Funding, LLC)
Undivided Trust Interest. (a) The UTI Initial Beneficiary shall hold an exclusive, undivided beneficial interest in all assets of the Trust (the “Undivided Trust Interest” or the “UTI”), other than those divided, identified Trust Assets that are from time to time allocated by the UTI Beneficiary Trust, upon the UTI Beneficiary’s written direction of the Initial Beneficiary and otherwise in accordance with Section 4.2, into one or more separate portfolios of Trust Assets (together with any other Trust Assets allocated to or earned by any such portfolio(s), and any proceeds thereof, collectively, “SUBI Assets,” and all Trust Assets, other than SUBI Assets, are referred to collectively as the “UTI Assets”).
Appears in 2 contracts
Samples: Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Undivided Trust Interest. (a) The UTI Initial Beneficiary shall hold an exclusive, undivided beneficial interest in all assets of the Trust (the “"Undivided Trust Interest” " or the “"UTI”"), other than those divided, identified Trust Assets that are from time to time allocated by the UTI Beneficiary Trust, upon the UTI Beneficiary’s written direction of the Initial Beneficiary and otherwise in accordance with Section 4.2, into one or more separate portfolios of Trust Assets (together with any other Trust Assets allocated to or earned by any such portfolio(s), and any proceeds thereof, collectively, “"SUBI Assets,” " and all Trust Assets, other than SUBI Assets, are referred to collectively as the “"UTI Assets”").
Appears in 2 contracts
Samples: Trust Agreement (Volkswagen Public Auto Loan Securitization LLC), Trust Agreement (Volkswagen Auto Lease Underwritten Funding LLC)
Undivided Trust Interest. (a) The UTI Initial Beneficiary shall hold an exclusive, undivided beneficial interest in all assets of the Trust (the “Undivided Trust Interest” or the “UTI”), other than those divided, identified Trust Assets that are from time to time allocated by the UTI Beneficiary Trust, upon the UTI Beneficiary’s written direction of the Initial Beneficiary and otherwise in accordance with Section 4.2, into one or more separate portfolios of Trust Assets (together with any other Trust Assets allocated to or earned by any such portfolio(s), and any proceeds thereof, collectively, “SUBI Assets,” and all Trust Assets, other than SUBI Assets, are referred to collectively as the “UTI Assets”).
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