Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the Issuer.
Appears in 144 contracts
Samples: Trust Agreement (Honda Auto Receivables 2010-3 Owner Trust), Trust Agreement (Honda Auto Receivables 2011-3 Owner Trust), Trust Agreement (Honda Auto Receivables 2012-2 Owner Trust)
Initial Ownership. Upon the formation of the Issuer by the contribution and conveyance by the Depositor pursuant to as described in Section 2.05 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the Issuer.
Appears in 52 contracts
Samples: Trust Agreement (Daimler Trucks Retail Trust 2024-1), Trust Agreement (Daimler Trucks Retail Trust 2024-1), Trust Agreement (California Republic Funding LLC)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the Issuer, and upon the issuance of the Certificates, the Depositor will no longer be a beneficiary of the Issuer, except to the extent that the Depositor is a Certificateholder.
Appears in 34 contracts
Samples: Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-2), Trust Agreement (Santander Drive Auto Receivables Trust 2024-2), Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-2)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 and until the issuance of the Trust Certificates, the Depositor shall be is the sole beneficiary of the Issuer; and upon the issuance of the Certificates, the Depositor will no longer be a beneficiary of the Issuer, except to the extent that the Depositor is a Certificateholder.
Appears in 22 contracts
Samples: Trust Agreement (USAA Auto Owner Trust 2012-1), Trust Agreement (Usaa Acceptance LLC), Trust Agreement (USAA Auto Owner Trust 2008-3)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the Issuer and, upon the issuance of the Certificates, the Depositor will no longer be a beneficiary of the Issuer, except to the extent that the Depositor is a Certificateholder.
Appears in 17 contracts
Samples: Trust Agreement (Capital One Prime Auto Receivables Trust 2023-1), Trust Agreement (Capital One Prime Auto Receivables Trust 2020-1), Trust Agreement (Capital One Auto Receivables LLC)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the Issuer; and upon the issuance of the initial Certificate, the Depositor will no longer be a beneficiary of the Issuer, except to the extent that the Depositor is a Certificateholder.
Appears in 14 contracts
Samples: Trust Agreement (Fifth Third Auto Trust 2014-3), Trust Agreement (Fifth Third Holdings Funding, LLC), Trust Agreement (Fifth Third Auto Trust 2019-1)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 2.5 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the IssuerTrust.
Appears in 11 contracts
Samples: Trust Agreement (Key Consumer Acceptance Corp), Trust Agreement (Wells Fargo Auto Receivables Corp), Trust Agreement (Amsouth Auto Receivables LLC)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to as described in Section 2.05 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the Issuer.
Appears in 11 contracts
Samples: Trust Agreement (Wachovia Auto Owner Trust 2008-A), Trust Agreement (WDS Receivables LLC), Trust Agreement (Wachovia Auto Loan Owner Trust 2007-1)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 2.5 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the IssuerTrust.
Appears in 10 contracts
Samples: Execution (Chase Manhattan Bank Usa), Trust Agreement (Chase Manhattan Bank Usa), Trust Agreement (Chase Manhattan Auto Owner Trust 2001-B)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the Issuer.
Appears in 7 contracts
Samples: Trust Agreement (California Republic Funding LLC), Trust Agreement (California Republic Auto Receivables Trust 2015-2), Trust Agreement (California Republic Funding LLC)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the Issuer and, upon the issuance of the initial Certificate, the Depositor will no longer be a beneficiary of the Issuer, except to the extent that the Depositor is a Certificateholder.
Appears in 6 contracts
Samples: Trust Agreement (Huntington Funding, LLC), Trust Agreement (Huntington Auto Trust 2016-1), Trust Agreement (Huntington Funding, LLC)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 2.5 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the Issuer.
Appears in 3 contracts
Samples: Trust Agreement (California Republic Funding LLC), Trust Agreement (California Republic Funding LLC), Trust Agreement (California Republic Funding LLC)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 2.5 and until the issuance of the Trust CertificatesCertificates to the Depositor, the Depositor shall be the sole beneficiary of the IssuerTrust.
Appears in 3 contracts
Samples: Bas Securitization LLC, Bas Securitization LLC, Lehman Brothers Asset Securitization LLC
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 the Original Trust Agreement and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the IssuerTrust.
Appears in 3 contracts
Samples: Trust Agreement (Key Consumer Acceptance Corp), Trust Agreement (Key Consumer Acceptance Corp), Trust Agreement (Key Consumer Acceptance Corp)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor Depositors pursuant to Section 2.05 2.5 and until the issuance of the Trust Certificates, the Depositor Depositors shall be the sole beneficiary beneficiaries of the IssuerTrust.
Appears in 2 contracts
Samples: Trust Agreement (Chase Manhattan Bank Usa), Trust Agreement (Chase Manhattan Bank Usa)
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 and the filing of the Certificate of Trust with the Secretary of State and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary owner of the Issuer.
Appears in 2 contracts
Samples: Trust Agreement (Accredited Mortgage Loan Trust 2005-3), Trust Agreement (Accredited Mortgage Loan Trust 2005-4)
Initial Ownership. Upon the formation of the Issuer by the contribution contributions by the Depositor and the General Partner pursuant to Section 2.05 2.5 and until the issuance of the Trust Certificates, the Depositor and the General Partner shall be the sole beneficiary beneficiaries of the IssuerTrust.
Appears in 1 contract
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 2.5 and until the issuance of the Trust CertificatesCertificates to the Transferor, the Depositor shall be the sole beneficiary of the IssuerTrust.
Appears in 1 contract
Initial Ownership. Upon the formation of the Issuer by the ----------------- contribution by the Depositor pursuant to Section 2.05 and until the issuance of the Trust Certificates, the Depositor shall be the sole beneficiary of the Issuer.
Appears in 1 contract
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 and until the issuance of the Trust Certificates2.5, the Depositor shall be the sole beneficiary of the IssuerTrust.
Appears in 1 contract
Initial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.05 2.5 and until the issuance of the Trust Certificates, Certificates to the Depositor shall be the sole beneficiary of the IssuerTrust.
Appears in 1 contract
Samples: Trust Agreement (M&i Dealer Auto Securitization LLC)
