Common use of No Legal Title to Owner Holding Trust Estate in Holding Trust Certificateholder Clause in Contracts

No Legal Title to Owner Holding Trust Estate in Holding Trust Certificateholder. The Holding Trust Certificateholder shall not have legal title to any part of the Owner Holding Trust Estate. The Holding Trust Certificateholder shall be entitled to receive distributions in accordance with Articles VIII and XI. No transfer, by operation of law or otherwise, of any right, title or interest of the Holding Trust Certificateholder to and in its ownership interest in the Owner Holding Trust Estate shall operate to terminate this Agreement or the trust hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner Holding Trust Estate.

Appears in 24 contracts

Samples: Trust Agreement (Exeter Automobile Receivables Trust 2021-2), Trust Agreement (Exeter Automobile Receivables Trust 2022-5), Trust Agreement (Exeter Automobile Receivables Trust 2022-2)

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