UTI; Sub-Trusts Sample Clauses

UTI; Sub-Trusts. (a) Subject to Section 3.02 and the other provisions of this Section, as directed in writing by the UTI Certificateholder, from time to time the Grantor, the UTI Certificateholder, the Servicer and the Trustee shall enter into a SUBI Supplement and pursuant to which establish one or more “special units of beneficial interest” in the Trust (each, a “SUBI”) and in connection therewith the UTI Certificateholder will cause the Servicer to associate with each such SUBI on the books and records of the Master Trust and such SUBI such Master Trust Assets (with respect to the applicable SUBI, the “SUBI Assets”) as shall be directed from time to time in writing by the UTI Certificateholder. To the extent permitted, and in the manner set forth in the related SUBI Supplement, and subject to any limitations and restrictions set forth therein, SUBI Assets may be subsequently associated with the UTI. Each SUBI shall be established pursuant to a SUBI Supplement and shall have the name and initial Certificate Holder designated in writing by the UTI Certificateholder. Each SUBI Supplement shall amend and supplement this Master Trust Agreement only with respect to the SUBI to which it relates. The related SUBI Assets shall be held solely for the benefit of the Holders from time to time of the related SUBI Certificates. All Master Trust Assets that are not associated with a SUBI (collectively, the “UTI Assets”) shall be identified on the books and records of the Trust as belonging to the Master Trust generally and being associated with the beneficial interest in the assets of the Trust generally constituting the “undivided trust interest” (the “UTI”). The UTI Assets shall be held for the benefit of the Holders from time to time of the UTI. (b) Each SUBI, including the SUBI Assets associated therewith, shall each constitute a separate series of the Trust pursuant to Section 3806(b)(2) of the Delaware Act (each, a “Sub-Trust”). The Servicer shall maintain separate records for each Sub-Trust and the Trust generally, and the applicable SUBI Assets associated with each Sub-Trust shall be held and accounted for separately from the UTI Assets and SUBI Assets associated with any other Sub-Trusts. Subject to the right of the UTI Certificateholder to direct the Trustee or the Servicer to allocate certain Liabilities, costs, charges and reserves as may be provided in the SUBI Supplements, and in accordance with Section 3804(a) of the Delaware Act or to the extent otherwise permitted by ...
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Related to UTI; Sub-Trusts

  • Delaware Trust Assets Purchaser The Delaware Trust Assets Purchaser shall be the Servicer engaged to perform and discharge the Serviced Duties in respect of each Appointment of Xxxxx Trust Company that continues to be treated as a Restricted Appointment.

  • Anti-Trust The MA Dual SNP hereby certifies to HHSC that neither the MA Dual SNP, nor the person represented by the MA Dual SNP, nor any person acting for the represented person, has been found by a judgment of a court of law to have violated the anti-trust laws codified by Chapter 15, Texas Business and Commerce Code, or the federal anti-trust laws.

  • Delaware Trustee The name and business address of the trustee of the Trust in the State of Delaware is Wilmington Trust Company, Xxxxxx Square North, 0000 Xxxxx Xxxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxx 00000-0000.

  • Successor Owner Trustee Any successor Owner Trustee appointed pursuant to Section 9.2 shall execute, acknowledge and deliver to the Depositor, the Servicer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement; and the Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 9.1. Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Servicer shall mail notice of the successor of such Owner Trustee to the Certificateholder, the Trustee, the Noteholders and the Rating Agencies. If the Servicer shall fail to mail such notice within 10 days after acceptance of appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Servicer.

  • The Trust Agreement The Trust Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

  • Depositor Structured Asset Securities Corporation, a Delaware corporation having its principal place of business in New York, or its successors in interest.

  • Owner Trustee This Agreement has been signed on behalf of the Grantor by U.S. Bank Trust National Association, not in its individual capacity, but solely in its capacity as Owner Trustee of the Grantor. In no event will U.S. Bank Trust National Association in its individual capacity or a beneficial owner of the Grantor be liable for the Grantor’s obligations under this Agreement. For all purposes under this Agreement, the Owner Trustee is subject to, and entitled to the benefits of, the Trust Agreement.

  • No Legal Title to Owner Trust Estate in Certificateholders The Certificateholders shall not have legal title to any part of the Owner Trust Estate. The Certificateholders shall be entitled to receive distributions with respect to their undivided ownership interest therein only in accordance with Articles V and IX. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their ownership interest in the Owner Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner Trust Estate.

  • Successor Owner Trustees and Additional Owner Trustees 20 SECTION 9.1. Eligibility Requirements for Owner Trustee.............20 SECTION 9.2. Resignation or Removal of Owner Trustee................20 SECTION 9.3. Successor Owner Trustee................................21 SECTION 9.4. Merger or Consolidation of Owner Trustee...............21 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee..........22 ARTICLE X. MISCELLANEOUS...................................................23

  • The Depositor Section 6.01.

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