Execution, Authentication and Delivery of Certificates. In exchange for the Contracts and the other assets of the Trust as of the Closing Date, simultaneously with the sale, assignment and transfer to the Trustee of the Contracts, the delivery to the Trustee of the Contract Documents, the constructive delivery to the Trust of the Contract Files other than the Contract Documents and the delivery to the Trustee of the other components of the Trust, the Trustee shall deliver to, or upon the written order of, the Seller, Certificates duly executed by the Trustee, on behalf of the Trust, and authenticated by the Trustee in authorized denominations equaling in the aggregate the Original Pool Balance, and evidencing the entire ownership of the Trust.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Onyx Acceptance Grantor Trust 1998-1), Pooling and Servicing Agreement (Onyx Acceptance Financial Corp), Pooling and Servicing Agreement (Onyx Acceptance Financial Corp)
Execution, Authentication and Delivery of Certificates. In exchange for the Contracts and the other assets of the Trust as of the Closing Date, simultaneously with the sale, assignment and transfer to the Trustee of the Contracts, the delivery to the Trustee of the Contract Documents, the constructive delivery to the Trust of the Contract Files other than the Contract Documents and the delivery to the Trustee of the other components of the TrustTrust (other than the Subsequent Contracts and related property), the Trustee shall deliver to, or upon the written order of, the Seller, Certificates duly executed by the Trustee, on behalf of the Trust, and authenticated by the Trustee in authorized denominations equaling in the aggregate the Original Pool BalancePool/Pre-Funding Amount, and evidencing the entire ownership of the Trust.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Onyx Acceptance Financial Corp)
