Common use of The Trust Certificates and the Notes Clause in Contracts

The Trust Certificates and the Notes. (a) The Certificates shall be issuable in minimum denominations of $1,000 and integral multiples thereof, except that one Certificate may be issued in a different denomination. The Residual Interest Instruments shall not be issued with a principal amount. The Trust Certificates 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 authenticated by the Trust Agent by the manual or facsimile signature of an authorized officer of the Trust Agent and shall be deemed to have been validly issued when so executed and authenticated. Trust Certificates bearing the manual or facsimile signatures of individuals who were, at the time when such signatures were affixed, authorized to sign on behalf of the Owner Trustee or the Trust Agent shall be validly issued by the Trust, notwithstanding that such individuals or any of them have ceased to be so authorized prior to the execution, authentication and delivery of such Trust Certificates or did not hold such offices at the date of such Trust Certificates. All Trust Certificates shall be dated the date of their authentication.

Appears in 6 contracts

Samples: Trust Agreement (Onyx Acceptance Financial Corp), Trust Agreement (Onyx Acceptance Financial Corp), Trust Agreement (Onyx Acceptance Financial Corp)

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The Trust Certificates and the Notes. (a) The Trust Certificates shall be issuable in minimum denominations of $1,000 and integral multiples thereof, except that one Certificate may be issued in a different denomination. The Residual Interest Instruments shall not be issued with a principal amount. The Trust Certificates 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 authenticated by the Trust Agent by the manual or facsimile signature of an authorized officer of the Trust Agent and shall be deemed to have been validly issued when so executed and authenticated. Trust Certificates bearing the manual or facsimile signatures of individuals who were, at the time when such signatures were affixed, authorized to sign on behalf of the Owner Trustee or the Trust Agent shall be validly issued by the Trust, notwithstanding that such individuals or any of them have ceased to be so authorized prior to the execution, authentication and delivery of such Trust Certificates or did not hold such offices at the date of such Trust Certificates. All Trust Certificates shall be dated the date of their authentication.

Appears in 3 contracts

Samples: Trust Agreement (Onyx Acceptance Corp), Trust Agreement (Onyx Acceptance Corp), Trust Agreement (Onyx Acceptance Corp)

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The Trust Certificates and the Notes. (a) The Certificates shall be issuable in minimum denominations of $1,000 and integral multiples thereof, except that one Certificate may be issued in a different denomination. The Residual Interest Instruments shall not be issued with a principal amount. The Trust Certificates shall be executed by the Co-Owner Trustee on behalf of the Trust by manual or facsimile signature of an authorized officer of the Co-Owner Trustee, and authenticated by the Trust Agent Co-Owner Trustee by the manual or facsimile signature of an authorized officer of the Trust Agent Co-Owner Trustee and shall be deemed to have been validly issued when so executed and authenticatedexecuted. Trust Certificates bearing the manual or facsimile signatures of individuals who were, at the time when such signatures were affixed, authorized to sign on behalf of the Co-Owner Trustee or the Trust Agent shall be validly issued by the Trust, notwithstanding that such individuals or any of them have ceased to be so authorized prior to the execution, authentication and delivery of such Trust Certificates or did not hold such offices at the date of such Trust Certificates. All Trust Certificates shall be dated the date of their authentication.

Appears in 1 contract

Samples: Trust Agreement (Onyx Acceptance Financial Corp)

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