Common use of Declaration of Trust; Transfer and Conveyance of Trust Assets Clause in Contracts

Declaration of Trust; Transfer and Conveyance of Trust Assets. With respect to each Trust, by delivering any Certificate pursuant to the related Trust Documents, the Issuer unconditionally, absolutely and irrevocably sets aside, transfers, assigns, sets over and otherwise conveys to the Trustee, on behalf of related Holders, all of the Issuer’s right, title and interest in and to the Trust Assets, including all payments of principal and/or interest thereon due after the month in which the Issue Date occurs. Once Trust Assets have been identified as being included in a particular Trust for which at least one Certificate has been issued, they will continue to be included in that Trust Fund unless removed in a manner consistent with the Trust Documents.

Appears in 8 contracts

Samples: SMBS Master Trust Agreement, Federal National Mortgage Association, SMBS Master Trust Agreement

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