Common use of Certificate Transfer Restrictions Clause in Contracts

Certificate Transfer Restrictions. (a) Unless specified otherwise in the Certificate Issuance Order with respect to a class of Certificates, the Certificates (or interests therein) may not be acquired by or for the account of a Benefit Plan. By accepting and holding a Certificate (or interest therein), the Holder thereof and any related Certificate Owner shall each be deemed to have represented and warranted that it is not a Benefit Plan and, if requested to do so by the Seller pursuant to Section 3.4(b), the Certificateholder and the Certificate Owner shall execute and deliver to the Owner Trustee an Undertaking Letter in the form set forth in the Certificate Issuance Order for such class. The Certificates are also subject to the minimum denomination specified in Section 3.4(a).

Appears in 5 contracts

Samples: Trust Agreement (Superior Wholesale Inventory Financing Trust Xi), Trust Agreement (Wholesale Auto Receivables Corp), Trust Agreement (Superior Wholesale Inventory Financing Trust X)

AutoNDA by SimpleDocs

Certificate Transfer Restrictions. (a) Unless specified otherwise in the Certificate Issuance Order with respect to a class of Certificates, the Certificates (or interests therein) may not be acquired by or for the account of a Benefit Plan. By accepting and holding a Certificate (or interest therein), the Holder thereof and any related Certificate Owner shall each be deemed to have represented and warranted that it is not a Benefit Plan and, if requested to do so by the Seller Depositor pursuant to Section 3.4(b), the Certificateholder and the Certificate Owner shall execute and deliver to the Owner Trustee an Undertaking Letter in the form set forth in the Certificate Issuance Order for such class. The Certificates are also subject to the minimum denomination specified in Section 3.4(a).

Appears in 1 contract

Samples: Trust Agreement (Wholesale Auto Receivables Corp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.