Origination Trust definition
Examples of Origination Trust in a sentence
On such Payment Date, the Origination Trustee will make (or cause to be made) a notation in its records reflecting the reallocation of such Origination Trust Assets as of the time thereof.
Each party hereto acknowledges and agrees (and each holder or pledgee of the Transaction SUBI Certificate, by virtue of its acceptance of such Transaction SUBI Certificate or pledge thereof, acknowledges and agrees) that (a) the Transaction SUBI is a separate series of the Origination Trust as provided in Section 3806(b)(2) of Chapter 38 of Title 12 of the Delaware Code, 12 Del.
Each party hereto agrees for the benefit of each holder, assignee or pledgee from time to time of the UTI or UTI Certificate and any Other SUBI or Other SUBI Certificate, to release all claims to the assets of the Origination Trust allocated to the UTI Portfolio and each Other SUBI Portfolio and in the event that such release is not given effect, to fully subordinate all claims it may be deemed to have against the assets of the Origination Trust allocated to the UTI Portfolio and each Other SUBI Portfolio.
The Seller is a limited partnership and the Origination Trust is a statutory trust, in each case, validly existing and in good standing under the laws of its state of organization, and each of the Seller and the Origination Trust has, in all material respects, all power and authority required to carry on its business as it is now conducted.
Notwithstanding anything to the contrary in Section 2.11 of the Origination Servicing Agreement, the Servicer shall not be required to monitor whether any Lessee has, and shall have no liability in the event that any Lessee fails to maintain in full force and effect, a physical damage insurance policy covering any Transaction Unit or naming the Origination Trust as loss payee.