Scottish Trust means the trust in respect of Scottish Receivables constituted pursuant to any Scottish Declaration of Trust.
Scottish Trust means, collectively, the trusts declared and created in terms of each Scottish Trust Deed;
Scottish Trust. Property shall mean the Scottish Loans and the Scottish Mortgages and other Related Security relative thereto, brief particulars of which Scottish Loans and Related Security are detailed in the schedule annexed and executed as relative hereto, and all principal sums, including any further advances, present or future, interest and expenses comprised therein and secured thereby, together with:
Examples of Scottish Trust in a sentence
To mitigate this risk, VWFS will declare trusts (each a "Scottish Trust") in favour of the Issuer over the Scottish Receivables and the Vehicles relating thereto and the Issuer will be the beneficiary under each Scottish Trust.
The legal position of the Issuer under each Scottish Trust is substantially in accordance with that set out above in relation to the holding of an equitable interest in the Purchased Receivables governed by the laws of England and Wales.
Except with the prior consent of the Issuer or its foresaids and (for so long as it retains any right or interest in the Scottish Trust Property) the Security Trustee, the Seller shall not be entitled to resign office as a trustee or assume a new trustee or trustees under this Deed.
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.
This Deed and the trust hereby declared and created shall not be varied in any respect without the consent in writing of the Issuer or its foresaids and (for so long as it retains any right or interest in the Scottish Trust Property) the Security Trustee.
More Definitions of Scottish Trust
Scottish Trust means the trust in respect of, inter alia, Scottish Receivables constituted pursuant to any Scottish Declaration of Trust.
Scottish Trust. Upon any completion of the repurchase or purchase by the Seller of any Scottish Mortgage Loan and its Related Security in accordance with this Clause 8 (Warranties and Repurchase by the Seller) such Scottish Mortgage Loan and its Related Security shall thereupon be released from the Scottish Trust and shall cease to form part of the Scottish Trust Property.
Scottish Trust means each trust declared and created pursuant to each Scottish Declaration of Trust; Scottish Trust Property has the meaning given to it in the relevant Scottish Declaration of Trust; Screen Rate means, for any date, the arithmetic mean of the offered quotations for Sterling deposits of the relevant term in the London inter-bank market displayed on Reuters Page LIBOR 01 as of 11:00 a.m. London time on that date; in each case, displayed on the above mentioned Reuters page (or such replacement page on that service which displays the information) or, if that service ceases to display the information, the Cash Manager (after consultation with the Issuer and the Security Trustee) may specify another page or service displaying the appropriate rate and/or, in the case of an N Covered Bond, the meaning set out in the relevant N Covered Bond Conditions (if applicable);
Scottish Trust. PROPERTY shall mean the Scottish Loans and the Scottish Mortgages and other Related Security relative thereto, brief particulars of which Scottish Loans and Related Security are detailed in the schedule annexed and executed as relative hereto, and all principal sums, including any further advances, present or future, interest and expenses comprised therein and secured thereby, together with (a) all monies, rights, interests, benefits and others pertaining thereto or deriving therefrom, (b) all powers and remedies for enforcing the same and (c) all proceeds resulting from the enforcement of any of the said Scottish Loans and the Related Security relative thereto.
Scottish Trust means each trust declared and created pursuant to each Scottish Declaration of Trust; Scottish Trust Property has the meaning given to it in the relevant Scottish Declaration of Trust; Screen Rate has the meaning set out in the relevant N Covered Bond Conditions (if applicable);
Scottish Trust means the trust declared and created pursuant to a Scottish Declaration of Trust; Scottish Trust Property has the meaning given to it in the relevant Scottish Declaration of Trust; Secured Creditors means the Security Trustee, the Note Trustee, the Noteholders, the Seller, the Servicer, the Back-Up Servicer Facilitator, the Cash Manager, the Interest Rate Hedge Provider, the Currency Swap Provider, the Account Bank, the GIC Provider, the Collateral Account Bank, the Corporate Services Provider, the Paying Agents, the Registrar, DTC Custodian, the Class Z VFN Registrar, the Agent Bank and any other person who is expressed in the Deed of Charge or any deed supplemental to the Deed of Charge to be a secured creditor; Secured Obligations means any and all of the monies and liabilities which the Issuer covenants and undertakes to pay or discharge under Clause 2 (Issuer's Covenant to Pay) of the Deed of Charge and all other amounts owed by it to the Secured Creditors under and pursuant to the Transaction Documents; Securities Act means the United States Securities Act of 1933, as amended; Securitisation Regulations means the Taxation of Securitisation Companies Regulations 2006 (SI 2006/3296); Securitisation Regulation means Regulation 2017/2402 of the European Parliament and of the Council laying down common rules on securitisation and creating a European framework for simple, transparent, and standardised securitisation and amending Directives 2009/65/EC, 2009/138/EC, 2011/61/EU, and Regulations (EC) No 1060/2009 and (EU) No 648/2012; Security means the security granted by the Issuer to the Security Trustee under and pursuant to the Deed of Charge in favour of the Secured Creditors;
Scottish Trust means the trust declared and created pursuant to a Scottish Declaration of Trust; Scottish Trust Property has the meaning given to it in the relevant Scottish Declaration of Trust; Secured Creditors means the Security Trustee, the Note Trustee, the Noteholders, the Seller, the Servicer, the Back-Up Servicer Facilitator, the Cash Manager, the Interest Rate Hedge Provider and any replacement interest rate hedge provider, the Account Bank, the GIC Provider, the Collateral Account Bank, the Corporate Services Provider, the Paying Agents, the Class Z VFN Registrar, the Agent Bank and any other person who is expressed in the Deed of Charge or any deed supplemental to the Deed of Charge to be a secured creditor; Secured Obligations means any and all of the monies and liabilities which the Issuer covenants and undertakes to pay or discharge under Clause 2 (Issuer's Covenant to Pay) of the Deed of Charge and all other amounts owed by it to the Secured Creditors under and pursuant to the Transaction Documents; Securities Act means the United States Securities Act of 1933, as amended; Securitisation Regulations means the Taxation of Securitisation Companies Regulations 2006 (SI 2006/3296);