Limitation on Transfer of Ownership Rights. (a) No Transfer of all or any part of a Beneficial Interest shall be made to any Person unless (i) such Person delivers to the Owner Trustee an accession agreement substantially in the form of Exhibit 2 hereof, (ii) except for the initial transfer of the Beneficial Interest of the Depositor, the Owner Trustee shall have received a written opinion of counsel in form and substance satisfactory to the Owner Trustee stating that such Transfer is exempt from the 1933 Act and any applicable state securities laws.
Appears in 8 contracts
Samples: Trust Agreement, Trust Agreement (National Collegiate Student Loan Trust 2006-2), Trust Agreement (National Collegiate Student Loan Trust 2005-3)
Limitation on Transfer of Ownership Rights. (a) No Transfer of all or any part of a Beneficial Interest shall be made to any Person unless (i) such Person delivers to the Owner Trustee an accession agreement substantially in the form of Exhibit 2 hereof, (ii) except for the initial transfer of the Beneficial Interest of the Depositor, the Owner Trustee shall have received a written opinion of counsel in form and substance satisfactory to the Owner Trustee stating that such Transfer is exempt from the 1933 Act and any applicable state securities lawslaw.
Appears in 5 contracts
Samples: Trust Agreement (National Collegiate Student Loan Trust 2005-2), Authority And (National Collegiate Student Loan Trust 2004-2), Trust Agreement (National Collegiate Funding LLC)
Limitation on Transfer of Ownership Rights. (a) No Transfer of all or any part of a Beneficial Interest shall be made to any Person unless (i) such Person delivers to the Owner Trustee an accession agreement substantially in the form of Exhibit 2 hereof, and (ii) except for the initial transfer of the Beneficial Interest of the Depositor, the Owner Trustee shall have received a written opinion of counsel in form and substance satisfactory to the Owner Trustee stating that such Transfer is exempt from the 1933 Act and any applicable state securities lawslaw.
Appears in 4 contracts
Samples: Trust Agreement (National Collegiate Trust 1996-S2), Authority And (National Collegiate Trust 1997-S2), Trust Agreement (National Collegiate Trust 1996-S2)
Limitation on Transfer of Ownership Rights. (a) No Transfer of all or any part of a Beneficial Interest after the date hereof shall be made to any Person unless (i) such Person delivers to the Owner Trustee an accession agreement substantially in the form of Exhibit 2 hereof, (ii) except for the initial transfer of the Beneficial Interest of the Depositor, the Owner Trustee shall have received a written opinion of counsel in form and substance satisfactory to the Owner Trustee stating that such Transfer is exempt from the 1933 Act and any applicable state securities laws.
Appears in 3 contracts
Samples: Trust Agreement (National Collegiate Student Loan Trust 2007-3), Alternative Servicing Agreement (National Collegiate Student Loan Trust 2007-2), Trust Agreement (National Collegiate Student Loan Trust 2007-4)
Limitation on Transfer of Ownership Rights. (a) No Transfer of all or any part of a Beneficial Interest after the date hereof shall be made to any Person unless (i) such Person delivers to the Owner Resident Trustee an accession agreement substantially in the form of Exhibit 2 B hereof, and (ii) except for the initial transfer of the Beneficial Interest of the Depositor, the Owner Resident Trustee shall have received a written opinion of counsel in form and substance satisfactory to the Owner Resident Trustee stating that such Transfer is exempt from the 1933 Act and any applicable state securities laws.
Appears in 2 contracts
Samples: Administration Agreement (First Marblehead Corp), Administration Agreement (First Marblehead Corp)
Limitation on Transfer of Ownership Rights. (a) No Transfer of all or any part of a Beneficial Beneficial Interest shall be made to any Person unless (i) such Person delivers to the Owner Trustee an accession agreement substantially in the form of Exhibit 2 hereof, (ii) except for the initial transfer of the Beneficial Beneficial Interest of the Depositor, the Owner Trustee shall have received a written opinion of counsel in form and substance satisfactory to the Owner Trustee stating that such Transfer is exempt from the 1933 Act and any applicable state securities laws.
Appears in 1 contract
Samples: Trust Agreement
