Common use of The Trust Certificate Clause in Contracts

The Trust Certificate. The Trust Certificate shall be substantially in the form of EXHIBIT B hereto. The Trust Certificate shall be issued with an original Certificate balance equal to the Certificate Balance. The Trust Certificate shall be executed by the Owner Trustee on behalf of the Trust by manual or facsimile signature of an authorized officer of the Owner Trustee and, upon authentication pursuant to Section 3.03, shall be deemed to have been validly issued when so executed and authenticated. The Trust Certificate bearing the manual or facsimile signature of individuals who were, at the time when such signatures were affixed, authorized to sign on behalf of the Owner Trustee shall be a valid and binding obligation of the Trust, notwithstanding that such individuals or any of them have ceased to be so authorized prior to the authentication and delivery of such Trust Certificate or did not hold such offices at the date of the authentication and delivery of such Trust Certificate. The Trust Certificate shall be dated the date of its authentication.