Acceptance by Owner Trustee. The Owner Trustee hereby acknowledges its acceptance, on behalf of the Issuer, pursuant to this Agreement, of all right, title and interest in and to the Receivables conveyed by the Seller pursuant to this Agreement and declares and shall declare from and after the date hereof that the Owner Trustee holds and shall hold such right, title and interest, upon the terms and conditions set forth in this Agreement.
Acceptance by Owner Trustee. On the Closing Date, if the conditions set forth in Section 2.02 have been satisfied, the Issuer shall issue to, or upon the order of, the Trust Depositor the Certificate representing ownership of a beneficial interest in 100% of the Issuer and the Issuer shall issue, and the Indenture Trustee shall authenticate, to, or upon the order of, the Trust Depositor the Notes secured by the Indenture Collateral. The Owner Trustee hereby acknowledges its acceptance, on behalf of the Issuer, of the Loan Assets, and declares that it shall maintain such right, title and interest in accordance with the terms of this Agreement and the Trust Agreement upon the trust herein and therein set forth.
Acceptance by Owner Trustee. (a) The Owner Trustee hereby acknowledges its acceptance, on behalf of the Issuer, of all right, title and interest previously held by the Transferor to the property, now existing and hereafter created, conveyed to the Issuer pursuant to Section 2.01. The Owner Trustee further acknowledges that, before or simultaneously with the execution and delivery of this Agreement, the Transferor has delivered to the Owner Trustee the Account Schedule relating to the Initial Accounts.
(b) The Owner Trustee has no power to create, assume or incur indebtedness or other liabilities in the name of the Issuer other than as contemplated in this Agreement and the other Transaction Documents.
Acceptance by Owner Trustee. 24 SECTION 4.01
Acceptance by Owner Trustee. (a) The Owner Trustee hereby acknowledges its acceptance on behalf of the Trust of all right, title and interest to the property, now existing and hereafter created, conveyed pursuant to Section 2.01. The Owner Trustee further acknowledges that, prior to or simultaneously with the execution and delivery of this Agreement, the Transferor delivered to the Owner Trustee the computer file or microfiche list relating to the Initial Accounts described in subsection 2.01(c). The Owner Trustee shall maintain a copy of Schedule 1, as delivered from time to time, at the Corporate Trust Office.
(b) The Owner Trustee hereby agrees not to disclose to any Person any of the account numbers or other information contained in the computer files or microfiche lists marked as Schedule 1 and delivered to the Owner Trustee, from time to time, except (i) to a Successor Servicer or as required by a Requirement of Law applicable to the Owner Trustee, (ii) in connection with the performance of the Owner Trustee’s duties hereunder, (iii) to the Indenture Trustee in connection with its duties in enforcing the rights of Noteholders or (iv) to bona fide creditors or potential creditors of any Account Owner, the Bank, HRAC I or any Transferor for the limited purpose of enabling any such creditor to identify Receivables or Accounts subject to this Agreement or the Receivables Purchase Agreements. The Owner Trustee agrees to take such measures as shall be reasonably requested by any Transferor to protect and maintain the security and confidentiality of such information and, in connection therewith, shall allow each Transferor or its duly authorized representatives to inspect the Owner Trustee’s security and confidentiality arrangements as they specifically relate to the administration of the Trust from time to time during normal business hours upon prior written notice. The Owner Trustee shall provide the applicable Transferor with notice five Business Days prior to disclosure of any information of the type described in this subsection 2.02(b).
(c) The Owner Trustee shall have no power to create, assume or incur indebtedness or other liabilities in the name of the Trust other than as contemplated in this Agreement and the Indenture.
Acceptance by Owner Trustee. The Owner Trustee hereby acknowledges its acceptance on behalf of the Trust of all right, title and interest to the property existing on the Addition Cut Off Date which has been conveyed to the Trust pursuant to Section 2(a) of this Assignment.
Acceptance by Owner Trustee. The Owner Trustee hereby acknowledges its acceptance on behalf of the Trust of all right, title and interest to the property existing on the Addition Date which has been conveyed to the Trust pursuant to Section 2(a) of this Assignment. 1 VISA® and MasterCard® are registered trademarks of VISA U.S.A., Inc., and of MasterCard International Inc., respectively.
Acceptance by Owner Trustee. 25 ARTICLE III THE RECEIVABLES
Acceptance by Owner Trustee. On the Closing Date, if the conditions set forth in Section 2.02 have been satisfied, the Owner Trustee shall issue on behalf of the Trust to, or upon the order of, the Trust Depositor the Certificates representing ownership of a beneficial interest in 100% of the Trust and the Indenture Trustee shall issue to, or upon the order of, the Trust Depositor the Notes secured by the Collateral.
Acceptance by Owner Trustee. The Owner Trustee does hereby accept on behalf of the Trust all of the Trust Property conveyed by the Transferor pursuant to Article III, and declares that the Owner Trustee shall hold the Trust Property, which shall comprise the Trust estate, upon the trusts herein set forth for the benefit of all present and future Residual Interest Holders and Certificateholders, subject to the terms and provisions of this Agreement.
