Origination Trustee definition
Examples of Origination Trustee 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.
Porsche Funding Limited Partnership (“PFLP”), a Delaware limited partnership and the Origination Trustee are parties to the Amended and Restated Trust Agreement dated as of November 14, 1997 (as amended by the UTI Assignment and Origination Trust Document Amendment, dated as of July 31, 2000, and as further amended, restated, supplemented or modified and in effect from time to time, the “Origination Trust Agreement”).
This Transaction SUBI Supplement has been duly executed and delivered by the Origination Trustee, and this Transaction SUBI Supplement and the Origination Trust Agreement are legal, valid and binding instruments enforceable against the Origination Trustee in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency and other similar laws relating to the enforcement of creditors’ rights generally and to general principles of equity.
The Seller shall also pay any accrued and unpaid fees, reasonable expenses and indemnification amounts (including any such fees, expenses and indemnification amounts with respect to prior collection periods) due and payable to the Indenture Trustee, the Owner Trustee and the Origination Trustee, as applicable, under the Transaction Documents (without regard to any caps set forth therein).
This Transaction SUBI Servicing Supplement shall inure to the benefit of and be binding upon the parties hereto, the Issuer and the Indenture Trustee, as holder and pledgee, respectively, of the Transaction SUBI Certificate, and their respective successors and permitted assigns and the Origination Trustee and the Owner Trustee shall be express third-party beneficiaries hereof and may enforce the provisions hereof as if it were a party hereto.
Concurrently herewith, pursuant to the Transaction SUBI Supplement, the Seller shall direct the Origination Trustee and the Servicer to identify from the Origination Trust Assets allocable to the UTI Portfolio, and to allocate to the Transaction SUBI Portfolio represented by the Transaction SUBI Certificate, the Transaction SUBI Assets identified in Section 11.1 of the Transaction SUBI Supplement.
With respect to any Servicer Replacement Event, the Origination Trustee, acting at the written direction of the Required Related Holders may waive any default of the Servicer.
It is further understood that the Origination Trustee, in its individual capacity, shall have no recourse to any Transaction SUBI Assets, including such Transaction SUBI Assets that were UTI Assets at the time a claim against the Origination Trustee arose.
It is expressly acknowledged, agreed and consented to that [Wilmington Trust Company] will be acting in the capacity of Origination Trustee and its affiliate, [ ] will be acting in the capacity as Owner Trustee.
The Origination Trustee shall give notice to the Transferor and the Administrator within a reasonable time after affecting any merger, consolidation, or other transaction set forth in Section 6.5 of the Origination Trust Agreement.