Title to Trust Estate. Title to all of the Trust Estate will be vested in the Trust as a separate legal entity until this Agreement terminates pursuant to Article VII; provided, however, that if the laws of any jurisdiction require that title to any part of the Trust Estate be vested in the trustees of a trust, then title to that part of the Trust Estate will be deemed to be vested in the Owner Trustee or any co-trustee or separate trustee, as the case may be, appointed pursuant to Article VIII.
Title to Trust Estate. Subject to the Indenture, legal title to all the Trust Estate shall be vested at all times in the Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee and/or a separate trustee, as the case may be. The Owners shall not have legal title to any part of the Trust Estate. The Owners shall be entitled to receive distributions with respect to their undivided ownership interest therein only in accordance with Articles V and IX of this Agreement. No transfer, by operation of law or otherwise, of any right, title or interest of the Owners to and in their ownership interest in the Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Trust Estate.
Title to Trust Estate. Legal title to all of the Trust Estate will be vested at all times in the Trust as a separate legal entity.
Title to Trust Estate. (a) Subject to the lien of the Indenture, title to all of the Trust Estate at all times shall be vested in the Trust as a separate legal entity except (i) where applicable law in any jurisdiction requires title to any part of the Trust Estate to be vested in a trustee or trustees, in which case title to that part of the Trust Estate shall be vested in the Delaware Trustee, a co-trustee and/or a separate trustee, as the case may be, and (ii) except that record title to Eligible Loans that are part of the Trust Estate shall be held by an eligible lender trustee pursuant to the terms of an Eligible Lender Agreement or the Indenture and the Trust Estate shall have a beneficial interest therein.
Title to Trust Estate. Subject to the lien of the Indenture, title to all of the Trust Estate at all times shall be vested in the Trust as a separate legal entity except (a) where applicable law in any jurisdiction requires title to any part of the Trust Estate to be vested in a trustee or trustees, in which case title to that part of the Trust Estate shall be vested in the Delaware Trustee, a co-trustee and/or a separate trustee, as the case may be, and (b) except that record title to Eligible Loans that are part of the Trust Estate shall be held by an eligible lender trustee pursuant to the terms of an eligible lender trust agreement or the Indenture and the Trust shall have a beneficial interest therein.
Title to Trust Estate. The Authority covenants that it has good right, full power and lawful authority to issue the Bonds, execute this Indenture and subject all of the Trust Estate to the lien hereof, in the manner and form herein contained or intended.
Title to Trust Estate. No Beneficial Interestholder shall have title to any part of the Trust Estate. No transfer, by operation of law or otherwise, of the right and interest of any Beneficial Interestholder in and to the Trust Estate or hereunder shall operate to terminate this Agreement or the trust hereunder or entitle any successor or transferee of such Beneficial Interestholder to an accounting with respect to the Trust Estate or to the transfer to him of title to any part of the Trust Estate.
Title to Trust Estate. Legal title to all of the Trust --------------------- Estate shall be vested at all times in the Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Trustee, a co-trustee and/or a separate trustee, as the case may be.
Title to Trust Estate. Legal title to all of the Trust Estate shall be vested at all times in the Trust as a separate legal entity except where applicable in any jurisdiction requires title to any part of the Trust Estate to be vested in a trustee, in which case title shall be deemed to be vested in the Trustee.
Title to Trust Estate. The Corporation covenants that, except as to that part of the Trust Estate which may hereafter be acquired by it, the Corporation is now well seized of the Trust Estate, and has good right, full power and lawful authority to issue the Bonds, execute this Indenture and subject all of the Trust Estate to the lien hereof, in the manner and form herein contained or intended, and that it will preserve good and indefeasible title to all such property, and will warrant and defend the same to the Trustee against the claims of all persons whatsoever.
