Common use of UTI Certificates Clause in Contracts

UTI Certificates. The UTI shall constitute a beneficial interest solely in the UTI Assets and shall initially be represented by one Certificate (the "UTI Certificate") registered in the name of NILT Trust, representing a 100% ownership interest in the UTI. The Trustee shall deliver to or upon the order of the UTI Beneficiary its UTI Certificate. Notwithstanding the foregoing and subject to Section 3.04(a), at the request of the UTI Beneficiary (but only with the consent of the Registered Pledgee of any UTI Pledge), the UTI may be represented by one or more additional Certificates that, in the aggregate, represent the entire UTI. Any such additional Certificates shall be issued pursuant to a UTI Supplement, which may specify any terms or conditions relevant to the issuance thereof. Each UTI Certificate shall be substantially in the form of Exhibit C hereto, with such appropriate insertions, omissions, substitutions and other variations as are required by this Agreement, and may have such letters, numbers or other marks of identification and such legends and endorsements consistent with this Agreement as may be directed by the UTI Beneficiary. Each UTI Certificate and the interest in the UTI evidenced thereby shall constitute a "certificated security" within the meaning of Section 8-102(15) of the UCC. Any portion of a UTI Certificate may be set forth on the reverse thereof, in which case the following text shall be inserted on the face thereof, in relative proximity to and prior to the signature of the Trustee executing such UTI Certificate: "Reference is hereby made to the further provisions of this UTI Certificate set forth on the reverse hereof, which provisions shall for all purposes have the same effect as if set forth at this place". Each UTI Certificate shall be printed, lithographed, typewritten, mimeographed, photocopied or otherwise produced or may be produced in any other manner consistent with this Agreement as may be determined by the UTI Beneficiary.

UTI Certificates. The UTI shall constitute a beneficial interest solely in the UTI Assets and shall initially be represented by one Certificate two Certificates (the "UTI CertificateCertificates") respectively representing a 99% (registered in the name of NILT Trust, representing Ryder Truck Rental I LP) and a 1001% (registered in the name of Ryder Truck Rental II LP) ownership interest in the UTI. The Trustee shall deliver to or upon the order of the each UTI Beneficiary its respective UTI Certificate. Notwithstanding the foregoing and subject to Section 3.04(a3.01(c), at the request of the any UTI Beneficiary (but only with the consent of the Registered Pledgee of any UTI Pledge), the UTI may be represented by one or more additional Certificates that, that in the aggregate, aggregate represent the entire UTI. Any such additional Certificates shall be issued pursuant to a UTI Supplement, which may specify any terms or conditions relevant to the issuance thereof. Each UTI Certificate shall be substantially in the form of Exhibit C B hereto, with such appropriate insertions, omissions, substitutions and other variations as are required by this Agreement, and may have such letters, numbers or other marks of identification and such legends and endorsements consistent with this Agreement as may be directed by the UTI BeneficiaryBeneficiaries. Each UTI Certificate and the interest in the UTI evidenced thereby shall constitute a "certificated security" within the meaning of Section 8-102(15) of the UCC. Any portion of a UTI Certificate may be set forth on the reverse thereof, in which case the following text shall be inserted on the face thereof, in relative proximity to and prior to the signature of the Trustee executing such UTI Certificate: "Reference is hereby made to the further provisions of this UTI Certificate set forth on the reverse hereof, which provisions shall for all purposes have the same effect as if set forth at this place". Each UTI Certificate shall be printed, lithographed, typewritten, mimeographed, photocopied or otherwise produced or may be produced in any other manner consistent as may, consistently with this Agreement as may Agreement, be determined by the UTI BeneficiaryBeneficiaries.

UTI Certificates. The UTI shall constitute a beneficial interest solely in the UTI Assets and shall initially be represented by one Certificate two trust certificates (the "UTI CertificateCertificates") registered in the name names of NILT TrustHonda Titling A L.P. and Honda Titling B L.P., respectively, representing a 10099% and a 1% ownership interest in the UTI, respectively. The Trustee shall deliver to or upon the order of the each UTI Beneficiary its respective UTI Certificate. Notwithstanding the foregoing and subject to Section 3.04(a), at the request of the any UTI Beneficiary (but only with the consent of the Registered Pledgee of any UTI Pledge), the UTI may be represented by one or more additional Certificates certificates that, in the aggregate, represent the entire UTI. Any such additional Certificates shall certificates will be issued pursuant to a UTI Supplement, which may specify any terms or conditions relevant to the issuance thereof. Each UTI Certificate and the interest in the UTI evidenced thereby shall constitute a "security" within the meaning of Section 8-102(15) of the UCC. Each UTI Certificate shall be substantially in the form of Exhibit C B hereto, with such appropriate insertions, omissions, substitutions and other variations as are required by this Agreement, and may have such letters, numbers or other marks of identification and such legends and endorsements consistent with this Agreement as may be directed by the UTI Beneficiary. Each UTI Certificate and the interest in the UTI evidenced thereby shall constitute a "certificated security" within the meaning of Section 8-102(15) of the UCCBeneficiaries. Any portion of a UTI Certificate may be set forth on the reverse thereof, in which case the following text shall be inserted on the face thereof, in relative proximity to and prior to the signature of the Trustee executing such UTI Certificate: "Reference is hereby made to the further provisions of this UTI Certificate set forth on the reverse hereof, which provisions shall for all purposes have the same effect as if set forth at this place". ." Each UTI Certificate shall be printed, lithographed, typewritten, mimeographed, photocopied or otherwise produced or may be produced in any other manner consistent with this Agreement as may be determined by the UTI BeneficiaryBeneficiaries.