Prior Trust definition

Prior Trust means the CompuCredit Credit Card Master Trust, established pursuant to the Prior Pooling and Servicing Agreement and into which the interests in the Receivables in the Initial Accounts and the Prior Additional Accounts were previously transferred to the Prior Trust pursuant to the Prior Pooling and Servicing Agreement. The Prior Trust was terminated on the Initial Issuance Date, and the Initial Accounts and the Prior Additional Accounts are included in the Accounts which are the subject of this Agreement.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Prior Trust. Any of Trust 1990, Trust 1992, Trust 1993, Trust 1994 and, in ----------- the event that 90-1 Mortgage Loans and 92-1 Mortgage Loans are conveyed to the Trust during the Pre-Funding Period, Trust 1995 and Trust 1996.

Prior Trust. Any of Trust 1991, Trust 1993, Trust 1994-1, Trust ----------- 1994-2, Trust 1995-1 and Trust 1995-2.

Examples of Prior Trust in a sentence

• Subject to such amendment and restatement, the Prior Trust Deed shall continue in full force and effect.

• The Prior Trust Deed shall be amended and restated on the terms of this Trust Deed, such amendment and restatement to take effect from the date of this Trust Deed.

• When the Trust Certificate is duly executed and issued by the Trust and duly authenticated by the Owner Trustee in accordance with this Agreement and exchanged for the Prior Trust Certificate, the Trust Certificate shall be fully paid, validly issued non-assessable and entitled to the benefits of this Agreement.

• For so long as the Trust holds Trust Balances of one or more Common Mortgage Loans, the determination set forth in clause (ii) shall provide the basis for the Servicer's resignation only if the Servicer simultaneously resigns from its obligations and duties as servicer under the Prior Trust Pooling and Servicing Agreements applicable to such Common Mortgage Loans.

• Nothing in this Section 2.1(f) shall be deemed to affect the right or obligation of the Prior Trust Trustee, the Trustee or the Custodial Agent to release or to cause the release of the Mortgage File of any "Mortgage Loan" (as defined in this Agreement and each Prior Trust Pooling and Servicing Agreement) to the servicer of any Prior Trust or the Servicer to the extent permitted or required by the applicable Prior Trust Pooling and Servicing Agreements or hereunder.

• For so long as the Trust holds Trust Balances of one or more Common Mortgage Loans, the Servicer shall resign from its obligations and duties hereunder promptly upon any resignation from its obligations and duties as servicer under the Prior Trust Pooling and Servicing Agreements applicable to such Common Mortgage Loans.

• Accordingly, the Servicer shall delegate its duties pursuant to Section 7.4(a) to the extent that, but only to those Persons to which, it has delegated its duties as servicer under the applicable Prior Trust Pooling and Servicing Agreements, and otherwise the Servicer shall not be authorized to delegate any of its duties hereunder.

• For so long as the Trust owns Trust Balances of one or more Common Mortgage Loans, the Servicer shall resign from its obligations and duties hereunder promptly upon any resignation from its obligations and duties as servicer under the Prior Trust Pooling and Servicing Agreements applicable to such Common Mortgage Loans.

• The Beneficiary hereby ratifies and confirms the appointment of BNY Mellon Trust of Delaware as Trustee of the Trust effective as of the date of the Prior Trust Agreement, to have all the rights, powers and duties set forth herein and the Delaware Statutory Trust Act.

• All registered holders of Prior Trust Units, and all registered holders of Class A Units who did not provide a duly completed election and Unitholder's Declaration to the registrar and transfer agent of the Fund on or before 5:00 p.m. (Calgary time) on July 25, 2006, which confirmed that such holder is not a Non Resident, shall have such Prior Trust Units and Class A Units converted to Trust Units pursuant to Section C.3(a) hereof without further act or formality.

More Definitions of Prior Trust

Prior Trust. Any of Trust 1989, Trust 1991, Trust 1993, Trust 1994 ----------- 1, Trust 1994-2, Trust 1995-1 and Trust 1995-2. Prior Trust Pooling and Servicing Agreement: Any of the Trust 1989 ------------------------------------------- Pooling and Servicing Agreement, the Trust 1991 Pooling and Servicing Agreement, the Trust 1993 Pooling and Servicing Agreement, the Trust 1994-1 Pooling and Servicing Agreement, the Trust 1994-2 Pooling and Servicing Agreement, the Trust 1995-1 Pooling and Servicing Agreement or the Trust 1995-2 Pooling and Servicing Agreement.

Prior Trust. Any of Trust 1990, Trust 1991, Trust 1992, Trust 1993, Trust ----------- 1994 and, in the event that 91-1 Mortgage Loans are conveyed to the Trust during the Pre-Funding Period, Trust 1995. Prior Trust Pooling and Servicing Agreement: Any of the Trust 1990 Pooling ------------------------------------------- and Servicing Agreement, the Trust 1991 Pooling and Servicing Agreement, the Trust 1992 Pooling and Servicing Agreement, the Trust 1993 Pooling and Servicing Agreement, the Trust 1994 Pooling and Servicing Agreement and, in the event that 91-1 Mortgage Loans are conveyed to the Trust during the Pre-Funding Period, the Trust 1995 Pooling and Servicing Agreement.