Securitization Trustee Clause Samples
The Securitization Trustee clause designates a trustee to oversee and manage the assets and cash flows involved in a securitization transaction. This trustee is responsible for holding the securitized assets on behalf of investors, ensuring that payments are collected and distributed according to the terms of the securitization agreement, and enforcing the rights of investors if the issuer defaults. By appointing a neutral third party to administer the securitized assets, this clause provides assurance to investors, mitigates risk, and ensures the orderly operation of the securitization structure.
Securitization Trustee. If approval of any 1998-C SUBI Beneficiary is required, any such consent shall be conclusive and binding on such Beneficiary and on all future Beneficiaries hereof whether or not notation of such consent is made upon this 1998-C SUBI Certificate. As provided in the Titling Trust Agreement and the 1998-C SUBI Supplement, this 1998-C SUBI Certificate and the underlying interests represented hereby may not be transferred or assigned, except in accordance with the provisions thereof. Prior to due presentation of this 1998-C SUBI Certificate for registration of a permitted transfer, the Titling Trustee, the certificate registrar and any of their respective agents may treat the person or entity in whose name this 1998-C SUBI Certificate is registered as the owner hereof for the purpose of receiving distributions and for all other purposes, and, except as provided for in the Titling Trust Agreement, neither the Titling Trustee, the certificate registrar nor any such agent shall be affected by any notice to the contrary. Unless this 1998-C SUBI Certificate shall have been executed by an authorized officer of the Titling Trustee, by manual signature, this 1998-C SUBI Certificate shall not entitle the holder hereof to any benefit under the Titling Trust Agreement or the 1998-C SUBI Supplement or be valid for any purpose.
Securitization Trustee. If for any reason the Reserve Fund is no longer an Eligible Account, the 1998-C Securitization Trustee shall promptly cause the Reserve Fund to be moved to another institution or otherwise changed so that the Reserve Fund becomes an Eligible Account. All amounts held in the Reserve Fund shall be invested by the 1998-C Securitization Trustee, as directed in writing by the Servicer pursuant to Section 4.02(j) of the 1998-C SUBI Servicing Supplement, in Permitted Investments. Earnings on investment of funds in the Reserve Fund shall be paid to the Transferor on each Monthly Allocation Date, subject to Section 3.01(h)(ii), and losses and any investment expenses shall be charged against the funds on deposit therein. The 1998-C Securitization Trustee shall incur no liability for the selection of investments or for losses thereon absent its own negligence or willful misfeasance. The 1998-C Securitization Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any investment prior to its stated maturity date or the failure of the Servicer to provide timely written investment directions.
Securitization Trustee. 5 Seller . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Securitization Trustee. This 1998-C SUBI Certificate is subject to the terms, provisions and conditions of the Titling Trust Agreement and the 1998-C SUBI Supplement, to which agreements any Beneficiary of this 1998-C SUBI Certificate or any interest herein by virtue of the acceptance hereof or of any interest herein hereby assents and by which such SUBI Beneficiary is bound. Also issued or to be issued under the Titling Trust Agreement are various other series of certificates evidencing undivided interests in other Sub-Trusts of the Titling Trust. A single UTI Certificate, representing 100% of the beneficial interests in the UTI, has been issued to the UTI Beneficiary and the 1997-A SUBI Certificate, representing 100% of the beneficial interests in the 1997-A SUBI and the 1997-A SUBI Sub-Trust, has been issued on or before the date of the initial issue of this 1998-C SUBI Certificate. SUBI Certificates representing 100% of the undivided interests in each other SUBI to be formed will be issued at the time each related SUBI Sub-Trust is formed. The property of the Titling Trust is identified in the Titling Trust Agreement and the property of the 1998-C SUBI Sub-Trust is identified in the 1998-C SUBI Supplement. Pursuant to the 1998-C SUBI Supplement, the 1998-C SUBI Assets were identified and allocated on the records of the Titling Trust as a separate SUBI Sub-Trust (the "1998-C SUBI Sub-Trust"), and the beneficial interest in the 1998-C SUBI Sub-Trust was designated as a separate SUBI known as the "1998-C SUBI". The assets of the 1998-C SUBI Sub-Trust are represented by two SUBI Certificates: (i) this 1998-C SUBI Certificate evidencing beneficial interests in all the 1998-C SUBI Assets other than the proceeds of the Residual Value Insurance Policies; and (ii) the 1998-C SUBI Insurance Certificate evidencing beneficial interests in the 1998-C SUBI Assets that are proceeds of the Residual Value Insurance Policies. Any holder of the 1998-C SUBI Certificate or the 1998-C SUBI Insurance Certificate shall be considered a 1998-C SUBI Beneficiary. The rights of the Beneficiaries of this 1998-C SUBI Certificate and the 1998-C SUBI Insurance Certificate to certain of the proceeds of the 1998-C SUBI Assets are and will be further set forth in the Titling Trust Agreement and the 1998-C SUBI Supplement.
Securitization Trustee. If for any reason the 1997-A SUBI Certificateholders' Account is no longer an Eligible Account, the 1997-A Securitization Trustee shall promptly cause the 1997-A SUBI Certificateholders' Account to be moved to another institution or otherwise changed so that the 1997-A SUBI Certificateholders' Account becomes an Eligible Account. Pursuant to Section 4.02(j) of the 1997-A Servicing Supplement, the Servicer shall direct the 1997-A Securitization Trustee to cause the funds in the 1997-A SUBI Certificateholders' Account to be invested in Permitted Investments bearing interest at the applicable Required Rates, which are expected to be TMCC Demand Notes so long as the TMCC Demand Notes are Permitted Investments. Such Permitted Investments shall mature in such a manner that the amount required to be distributed on the next succeeding Certificate Payment Date will be available on the Deposit Date preceding such next succeeding Certificate Payment Date. To the extent that a Monthly Payment Event Occurrence occurs, the 1997-A Securitization Trustee shall exercise the demand feature in the TMCC Demand Notes so as to have funds available on the next succeeding Certificate Payment Date. All amounts held in the 1997-A SUBI Certificateholders= Account shall be invested by the 1997-A Securitization Trustee in Permitted Investments at the direction of the Servicer until distributed or otherwise applied in accordance with the 1997-A Securitization Trust Agreement (including investment overnight from the Deposit Date on which any Permitted Investment matures to the related Monthly Allocation Date). Earnings (net of investment losses) on the investment of funds in the 1997-A SUBI Certificateholders' Account shall be part of Available Interest. Such net earnings need not be withdrawn from the 1997-A SUBI Certificateholders' Account and redeposited as Available Interest, but may be retained in the 1997-A SUBI Certificateholders' Account and applied as provided in this 1997-A Securitization Trust Agreement.