Owner Trust Sample Clauses
The Owner Trust clause establishes a legal arrangement in which property or assets are held by a trustee on behalf of the owner, who is the beneficiary of the trust. In practice, this means that while the trustee manages and controls the assets, the owner retains the right to benefit from them, such as receiving income or directing certain actions. This structure is commonly used to facilitate asset management, provide privacy, or simplify the transfer of ownership interests. The core function of the Owner Trust clause is to separate legal title from beneficial ownership, thereby offering flexibility and protection for the owner's interests.
Owner Trust. The Issuer.
Owner Trust. Seller represents and warrants that (i) legal title to the Aircraft is currently held by Owner Trustee under the Trust Agreement and (ii) Seller will cause Owner Trustee to carry out all obligations and actions necessary to satisfy the intentions of this Agreement and that any obligation of Seller herein, shall also be an obligation of Owner Trustee and vice versa, to the extent applicable, and (iii) any failure of Owner Trustee to perform in the manner necessary to satisfy the intentions and obligations of Seller herein, will serve as a Seller default.
Owner Trust. (a) Such Engine shall have been transferred to, and owned by and leased by, an Owner Trustee on behalf of an Owner Trust created by the Issuer pursuant to a Trust Agreement substantially in the form attached to the Series 2002-1 Supplement as Exhibit H-1, (b) such Owner Trustee shall have executed and delivered to the Collateral Custodian a facsimile copy of an Owner Trustee Guaranty substantially in the form attached to the Series 2002-1 Supplement as Exhibit H-2 (the original counterpart of which shall be delivered to the Collateral Custodian within ten Business Days after such execution and delivery), (c) such Owner Trustee shall have executed and delivered to FAA Counsel, and to the Collateral Custodian a facsimile copy of, a Owner Trustee Mortgage substantially in the form attached to the Series 2002-1 Supplement as Exhibit H-3 (the original counterpart of which shall be delivered to the Collateral Custodian within three (3) Business Days after the filing thereof with the FAA), and (d) the Issuer shall have executed and delivered to the Collateral Custodian a facsimile copy of a Beneficial Interest Pledge Agreement substantially in the form attached to the Series 2002-1 Supplement as Exhibit H-4 (the original counterpart of which shall be delivered to the Collateral Custodian within ten Business Days after such execution and delivery); and
Owner Trust. By: ---------------------------------- Name: Title:
Owner Trust. The Owner Trust that will hold such Engine is duly organized, validly existing and in compliance under the laws of the state of its formation, as indicated in the applicable Engine or Beneficial Interest Transfer Certificate, with all necessary power and authority to own its properties and to conduct its business as such properties are currently owned or contemplated to be owned and such business is currently or contemplated to be conducted, had at all relevant times, and now has, power, authority, and legal right to acquire and own the Engine and Lease owned by it, as described in the applicable Engine or Beneficial Interest Transfer Certificate and to perform its obligations under any Related Document to which it is a party, and has not at any time had any other legal name except as set forth in the applicable Engine or Beneficial Interest Transfer Certificate;
Owner Trust. The Owner Trust that will hold such Engine is duly organized, validly existing and in compliance under the laws of the state of its formation, as indicated in the applicable Engine Transfer Certificate, with all necessary power and authority to own its properties and to conduct its business as such properties are currently owned or contemplated to be owned and such business is currently or contemplated to be conducted, had at all relevant times, and now has, power, authority, and legal right to acquire and own the Engine and Lease owned by it, as described in the applicable Engine Transfer Certificate and to perform its obligations under any Related Document to which it is a party, and has not at any time had any other legal name except as set forth in the applicable Engine Transfer Certificate;
Owner Trust. Home Equity Loan Trust [ ]-o, created by the Certificate of Trust pursuant to the Trust Agreement.
Owner Trust. Notwithstanding anything to the contrary contained herein, no Borrower will cause or permit the Owner Trust to (i) incur, directly or indirectly, any Indebtedness or any other material obligation or liability whatsoever other than any obligation under any Loan Document or in connection with any lease described below, (ii) create or suffer to exist any Lien upon any property or assets now owned or hereafter acquired by it other than as permitted pursuant to any Loan Document, (iii) terminate or consolidate with or merge with or into, or convey, transfer or lease all or substantially all its assets to, any Person except for the lease of Aircraft (x) to an Aircraft Operating Party and (y) to any unaffiliated third party, and/or (iv) engage in any business or activity inconsistent with its obligations under any Loan Document. Administrative Borrower and/or JJM, Inc. shall remain, either together or individually, as the sole beneficiary or beneficiaries of the Owner Trust and the Owner Trust shall remain a Citizen of the United States.
Owner Trust. Home Loan Trust 2004-HI2, created by the Certificate of Trust pursuant to the Trust Agreement and the Original Trust Agreement.
Owner Trust. GMACM Home Equity Loan Trust 2005-HE1, created by the Certificate of Trust pursuant to the Trust Agreement.