Grantor Trust definition
Examples of Grantor Trust in a sentence
The parties expressly acknowledge and consent to Wilmington Trust acting in the dual capacity of Owner Trustee and in the capacity of Grantor Trust Trustee.
Such Receivable complied at the time it was originated or made in all material respects with all requirements of applicable federal, state and local laws and regulations thereunder, except where the failure to comply (i) was remediated or cured in all material respects prior to the Cut-Off Date or (ii) would not render such Receivable unenforceable or create liability for the Purchaser, the Issuer or the Grantor Trust, as an assignee of such Receivable.
Nothing in this Agreement will make the Asset Representations Reviewer and any of the Issuer, the Grantor Trust, the Sponsor, the Servicer, the Indenture Trustee, the Grantor Trust Trustee or the Owner Trustee members of any partnership, joint venture or other separate entity or impose any liability as such on any of them.
The Asset Representations Reviewer will notify the Issuer, the Grantor Trust, the Sponsor and the Servicer promptly if it is not, or on the occurrence of any action that would result in it not being, an Eligible Asset Representations Reviewer.
No resignation or removal of the Asset Representations Reviewer will be effective until the successor Asset Representations Reviewer has executed and delivered to the Issuer, the Grantor Trust, the Sponsor and the Servicer an agreement accepting its engagement and agreeing to perform the obligations of the Asset Representations Reviewer under this Agreement or entered into a new agreement with the Issuer, the Grantor Trust, the Sponsor and the Servicer on substantially the same terms as this Agreement.