Ownership by the Depositor of Certificates. Notwithstanding Section 3.03, the Depositor shall on the Closing Date receive in accordance with Section 3.02, and shall thereafter retain beneficial and record ownership of, Certificates representing 100% of the Certificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Depositor below 100% of the Certificate Balance shall be void. The Owner Trustee shall cause one Certificate issued to the Depositor (representing 100% of the Certificate Balance) to bear a legend stating “THIS CERTIFICATE IS NON-TRANSFERABLE.”
Appears in 20 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2008-B Owner Trust), Trust Agreement (Nissan Auto Receivables Corp Ii), Trust Agreement (Nissan Auto Receivables Corp Ii)
Ownership by the Depositor of Certificates. Notwithstanding Section 3.03, the The Depositor shall on the Closing Date receive in accordance with Section 3.02, and shall thereafter retain beneficial and record ownership of, Certificates representing 100% of the Certificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Depositor below 100% of the Certificate Balance shall be void. The Owner Trustee shall cause one Certificate issued to the Depositor (representing 100% of the Certificate Balance) to bear a legend stating “"THIS CERTIFICATE IS NON-TRANSFERABLE.”"
Appears in 8 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2001-B Owner Trust), Trust Agreement (Nissan Auto Receivables 2000-C Owner Trust), Trust Agreement (Nissan Auto Receivables 2002-a Owner Trust)
Ownership by the Depositor of Certificates. Notwithstanding Section 3.03, the The Depositor shall on the Closing Date receive in accordance with Section 3.02purchase, and shall thereafter retain beneficial and record ownership of, Certificates representing 100at least 1% of the Certificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Depositor below 1001% of the Certificate Balance shall be void. The Owner Trustee shall cause at least one Certificate issued to the Depositor (representing 100at least 1% of the Certificate Balance) to bear a legend stating “"THIS CERTIFICATE IS NON-TRANSFERABLE".”]
Appears in 3 contracts
Samples: Trust Agreement (Toyota Motor Credit Corp), Trust Agreement (Toyota Motor Credit Corp), Trust Agreement (Toyota Motor Credit Corp)
Ownership by the Depositor of Certificates. Notwithstanding Section 3.03, the The Depositor shall on the Closing Date receive in accordance with Section 3.02purchase, and shall thereafter retain beneficial and record ownership of, Certificates representing 100at least 1% of the Certificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Depositor below 1001% of the Certificate Balance shall be void. The Owner Trustee shall cause at least one Certificate issued to the Depositor (representing 100at least 1% of the Certificate Balance) to bear a legend stating “"THIS CERTIFICATE IS NON-TRANSFERABLE".”
Appears in 2 contracts
Samples: Trust Agreement (Toyota Motor Credit Corp), Trust Agreement (Toyota Motor Credit Corp)
Ownership by the Depositor of Certificates. Notwithstanding Section 3.03, the Depositor shall on the Closing Date receive in accordance with Section 3.02, and shall thereafter retain beneficial and record ownership of, Certificates representing 100% of the Certificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Depositor below 100% of the Certificate Balance shall be void. The Owner Trustee shall cause one Certificate issued to the Depositor (representing 100% of the Certificate Balance) to bear a legend stating “"THIS CERTIFICATE IS NON-TRANSFERABLE.”"
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2002 C Owner Trust), Trust Agreement (Nissan Auto Receivables 2004-C Owner Trust)
Ownership by the Depositor of Certificates. Notwithstanding Section 3.03, the The Depositor shall on the Closing Date receive in accordance with Section 3.02purchase, and shall thereafter retain beneficial and record ownership of, Certificates representing 100% of the Certificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Depositor below 100% of the Certificate Balance shall be void. The Owner Trustee shall cause one Certificate issued to the Depositor (representing 100% of the Certificate Balance) to bear a legend stating “"THIS CERTIFICATE IS NON-TRANSFERABLE.”"
Appears in 1 contract
Ownership by the Depositor of Certificates. Notwithstanding Section 3.03, the Depositor shall on the Closing Date receive in accordance with Section 3.02, and shall thereafter retain beneficial and record ownership of, Certificates representing 100% of the Certificate Balance. Any attempted transfer of any Certificate that would reduce such interest of the Depositor below 100% of the (Nissan 2003-B Amended & Restated Trust Agreement) Certificate Balance shall be void. The Owner Trustee shall cause one Certificate issued to the Depositor (representing 100% of the Certificate Balance) to bear a legend stating “"THIS CERTIFICATE IS NON-TRANSFERABLE.”"
Appears in 1 contract
Samples: Trust Agreement (Nissan Auto Receivables 2003-B Owner Trust)
