Common use of Acknowledgment of Transfer of Trust Fund Clause in Contracts

Acknowledgment of Transfer of Trust Fund. The Trustee hereby accepts the Trust created hereby, acknowledges and accepts the transfer and assignment to it of the property constituting the Trust Fund, but without having made the review required to be made within 45 days pursuant to Section 2.02, and declares that as of the Closing Date it holds and shall hold any documents constituting a part of the Trust Fund, and the Trust Fund, as Trustee in trust, upon the trusts herein set forth, for the use and benefit of all present and future Holders of the REMIC I Regular Interests and the Class R-1