Scottish Declaration of Trust definition

Scottish Declaration of Trust means a declaration of trust, substantially in the form of either Part A or Part B of Schedule 5 (Form of Scottish Declaration of Trust) to the Receivables Purchase Agreement entered into by VWFS in favour of the Purchaser pursuant to the terms of the Receivables Purchase Agreement.

Scottish Declaration of Trust means a declaration of trust, substantially in the form of Schedule 5 (Form of Scottish Declaration of Trust) to the Receivables Purchase Agreement entered into by VWFS in favour of the Purchaser.

Scottish Declaration of Trust means a declaration of trust over Scottish Receivables in substantially the form set out in the Third Schedule of the RSA;

Examples of Scottish Declaration of Trust in a sentence

• As described in the immediately preceding risk factor, the sale by the Seller to the LLP of English Loans will be given effect by an equitable assignment, and each sale of Scottish Loans will be given effect by a Scottish Declaration of Trust.

• The Trust Deed, the Agency Agreement, the Covered Bonds, the Receipts, the Coupons and the other Transaction Documents (other than each Scottish Declaration of Trust and certain documents to be granted pursuant to the Deed of Charge) are governed by, and shall be construed in accordance with, English law unless specifically stated to the contrary.

• Each Scottish Declaration of Trust is governed by, and shall be construed in accordance with, Scots law.

• The Seller and the Mortgages Trustee hereby acknowledge and consent to the foregoing as trustee and beneficiary respectively in terms of each Scottish Declaration of Trust.

• The Issuer hereby acknowledges and consents to the foregoing as beneficiary in terms of the relevant Scottish Declaration of Trust.

• The Issuer shall forthwith following the execution and delivery of any Scottish Declaration of Trust execute and deliver to the Security Trustee, and procure the execution and delivery to the Security Trustee by the Seller of, an Assignation in Security of the Issuer's interest in the Scottish Trust Property in the appropriate form set out in Schedule 4 (the "Assignation in Security") hereto.

• Except as expressly provided herein, the relevant Scottish Declaration of Trust and the trusts constituted pursuant thereto shall continue in full force and effect in respect of the whole remainder (if any) of the Scottish Trust Property (as that term is defined in the Scottish Declaration of Trust).

• The Seller and the Issuer by their execution of this Agreement hereby acknowledge such release as trustee and beneficiary under the relevant Scottish Declaration of Trust.

• The Seller and the Issuer hereby acknowledge and consent to the foregoing as trustee and beneficiary respectively in terms of each Scottish Declaration of Trust.

• In relation to each Utilisation other than the first Utilisation, to the extent that the same have not previously been delivered to the Security Trustee each Supplemental Scottish Declaration of Trust delivered to the Borrower on an Additional Purchase Date occurring on or prior to such Utilisation Date and a Supplemental Assignation in Security in relation to each such Supplemental Scottish Declaration of Trust.

More Definitions of Scottish Declaration of Trust

Scottish Declaration of Trust means a declaration of trust pursuant to which the beneficial interest in the Scottish Loans and their Collateral Security are held by the Issuer in the form set out in Schedule 8 of the Xxxx/Issuer Mortgage Sale Agreement;

Scottish Declaration of Trust means the declaration of trust granted by the Legal Title Holder in relation to the Scottish Mortgage Loans, Scottish Mortgages and their Related Security by means of which the sale of such Scottish Mortgage Loans, Scottish Mortgages and their Related Security by the Beneficial Title Seller and the transfer of the beneficial interest therein to the Issuer are given effect;

Scottish Declaration of Trust means the declaration of trust in respect of Scottish Mortgage Loans and their Related Security made by Virgin Money in favour of the Mortgages Trustee and by the Mortgages Trustee in favour of the Beneficiaries on the Closing Date pursuant to the Mortgage Sale Agreement substantially in the form set out in Schedule 10 (Scottish Declaration of Trust) thereto.

Scottish Declaration of Trust means, together, certain Scots law declarations of trust over the right, title, benefit and interest in each of the Scottish Loans and their Related Security granted by the Legal Title Holder in favour of the Seller, the Seller's interest in which will be assigned by it to the Issuer pursuant to a Scottish Trust Transfer.