Trust Property definition
Examples of Trust Property in a sentence
The Depositor makes the following representations and warranties on which the Trust shall be deemed to have relied in accepting the Trust Property.
The Backup Servicer makes the following representations and warranties on which the Trust shall be deemed to have relied in accepting the Trust Property.
All monies deposited from time to time in the Collection Account pursuant to this Agreement shall be held by the Indenture Trustee as part of the Trust Property and shall be applied as provided in this Agreement.
This Agreement effects a valid sale, transfer, assignment and conveyance to the Trust of the Receivables and the other Trust Property enforceable against all creditors of and purchasers from the Depositor.
If such transfer is deemed to be a pledge to secure the payment of the Notes, however, the Depositor hereby grants to the Trust a first priority security interest in all of the Depositor’s right, title and interest in, to and under the Trust Property, and all proceeds thereof, to secure the payment of the Notes, and in such event, this Agreement shall constitute a security agreement under applicable law.