Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution Certificate, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 99 contracts
Samples: Trust Agreement (SLM Student Loan Trust 2007-3), Trust Agreement (SLM Funding LLC), Trust Agreement (SLM Student Loan Trust 2012-7)
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution CertificateCertificates, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 32 contracts
Samples: Trust Agreement (USAA Auto Owner Trust 2007-2), Trust Agreement (USAA Auto Owner Trust 2007-1), Trust Agreement (Usaa Acceptance LLC)
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution CertificateCertificates, the Depositor shall be the sole beneficial owner of the TrustOwner Trust Estate.
Appears in 27 contracts
Samples: Trust Agreement (Usaa Federal Savings Bank), Trust Agreement (Ford Credit Auto Receivables Two L P), Trust Agreement (Ford Credit Auto Receivables Two L P)
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 2.05 and until the issuance of the Excess Distribution Certificate, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 16 contracts
Samples: Trust Agreement (SLM Private Credit Student Loan Trust 2005-A), Trust Agreement (SLM Private Credit Student Loan Trust 2006-A), Trust Agreement (SLM Private Credit Student Loan Trust 2007-A)
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 2.05 and until the issuance of the Excess Distribution CertificateTrust Certificates, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 16 contracts
Samples: Trust Agreement (College Loan LLC), Trust Agreement (Collegiate Funding of Delaware LLC), Trust Agreement (College Loan LLC)
Initial Beneficial Ownership. Upon Since the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution Certificate2.5, the Depositor shall be has been the sole beneficial owner of the Trust.
Appears in 11 contracts
Samples: Trust Agreement (Ally Auto Receivables Trust 2012-Sn1), Trust Agreement (Ally Auto Assets LLC), Trust Agreement (Ally Auto Assets LLC)
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution CertificateTrust Certificates, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 10 contracts
Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp)
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 2.05 hereof and until the issuance of the Excess Distribution CertificateTrust Certificates, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 7 contracts
Samples: Trust Agreement (Goal Capital Funding, LLC), Trust Agreement (Goal Capital Funding, LLC), Trust Agreement (Higher Education Funding I)
Initial Beneficial Ownership. Upon the formation of the ---------------------------- Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution Certificate, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 5 contracts
Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp)
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to described in Section 2.5 and until the issuance of the Excess Distribution Certificate, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 4 contracts
Samples: Trust Agreement (Navient Funding, LLC), Trust Agreement (Navient Student Loan Trust 2015-3), Trust Agreement (Navient Student Loan Trust 2015-1)
Initial Beneficial Ownership. Upon the formation of the Trust ---------------------------- by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution Certificate, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 4 contracts
Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp)
Initial Beneficial Ownership. Upon the formation of the ---------------------------- Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution CertificateTrust Certificates, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 3 contracts
Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp)
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution CertificateCertificates, the Depositor shall be the sole beneficial owner of the TrustTrust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Owner Trust 2005-B), Trust Agreement (Ford Credit Auto Owner Trust 2004-A)
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 2.05 and until the issuance of the Excess Distribution Trust Certificate, the Depositor shall be the sole beneficial owner of the Trust. After the issuance of the Trust Certificate, the Certificateholder will be the sole beneficial owner of the Trust.
Appears in 2 contracts
Samples: Trust Agreement (Key Consumer Receivables LLC), Trust Agreement (Keycorp Student Loan Trust 2004-A)
Initial Beneficial Ownership. Upon As of the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution CertificateCARAT 20 -SN Certificates, the Depositor shall be has been the sole beneficial owner of the Trust.
Appears in 2 contracts
Samples: Trust Agreement (Central Originating Lease Trust), Trust Agreement (Central Originating Lease Trust)
Initial Beneficial Ownership. Upon the formation of the Trust by and the contribution by the Depositor pursuant to Section 2.5 and until the initial issuance of the Excess Distribution CertificateTrust Certificates, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 2 contracts
Samples: Trust Agreement (Crestar Bank /Va), Trust Agreement (Crestar Bank /Va)
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution Certificate2.5, the Depositor shall be the sole beneficial owner of the TrustTrust Property.
Appears in 1 contract
Samples: Trust Agreement (Ford Credit Auto Owner Trust 2005-C)
Initial Beneficial Ownership. Upon the formation of ---------------------------- the Trust by the contribution by the Depositor pursuant to Section 2.5 2.05 and until the issuance of the Excess Distribution CertificateTrust Certificates, the Depositor shall be the sole beneficial owner of the Trust.
Appears in 1 contract
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution CertificateCertificates, the Depositor shall be the sole beneficial owner of the Trust. The Excess Distribution Certificates will initially be owned and retained by the Depositor and WELF Holding, respectively.
Appears in 1 contract
Samples: Trust Agreement (Wachovia Student Loan Trust 2005-1)
