The Trust Estate. The Depositor hereby assigns, transfers, conveys and sets over to the Trustee the sum of $10.00. The Trustee hereby acknowledges receipt of such amount in trust from the Depositor, which amount shall constitute the initial trust estate. The Trustee hereby declares that it will hold the trust estate in trust for the Depositor. It is the intention of the parties hereto that the Trust created hereby constitute a business trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. Section 3801, et seq. (the "Business Trust Act"), and that this document constitute the governing instrument of the Trust. The Trustee is hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State in accordance with the provisions of the Business Trust Act.
The Trust Estate. The Depositor xxreby assigns, transfers, conveys and sets over the Trustee the sum of Ten and No/100 Dollars ($10.00). The Trustee hereby acknowledges receipt of such amount in trust from the Depositor, which amount shall constitute the initial trust estate. The Trustee hereby declares that it will hold the trust estate in trust for the Depositor. It is the intention of the parties hereto that the Trust created hereby constitute a business trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. sec. 3801 et seq. (the "Business Trust Act"), and that this document constitute the governing instrument of the Trust. The Trustee is hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State substantially in the form attached hereto or in such other form as the Trustee may approve.
The Trust Estate. The Depositor hereby assigns, transfers, conveys and sets over to the Trust the sum of $10. Such amount shall constitute the initial trust estate. It is the intention of the parties hereto that the Trust created hereby constitute a business trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. Section 3801 et seq. (the "Business Trust Act"), and that this document constitutes the governing instrument of the Trust. The Trustees are hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State in accordance with the provisions of the Business Trust Act.
The Trust Estate. The Issuer shall have made or caused to be made all filings with the Kansas Commission and the Secretary of State of the State of Kansas pursuant to the Financing Order and the Securitization Act and all other filings necessary to perfect the Grant of the Trust Estate to the Indenture Trustee and the Lien of this Indenture and the Series Supplement, including but not limited to UCC Financing Statements in Delaware or Kansas, as applicable.
The Trust Estate. The Depositor hereby assigns, transfers, conveys and sets over to the Trustees the sum of $10. The Trustees hereby acknowledge receipt of such amount in trust from the Depositor, which amount shall constitute the initial trust estate. The Trustees hereby declare that they will hold the trust estate in trust for the benefit of the holders of the Preferred Securities (as defined below). It is the intention of the parties hereto that the Trust created hereby constitute a business trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. ss. 3801 et seq. (the "BUSINESS TRUST ACT"), and that this document constitute the governing instrument of the Trust. The Trustees are hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State in accordance with the provisions of the Business Trust Act.
The Trust Estate. The Issuer shall have made or caused to be made all filings with the Louisiana Filing Officer pursuant to the Financing Order and the Securitization Act and all other filings necessary to perfect the Grant of the Trust Estate to the Indenture Trustee and the Lien of this Indenture and the Series Supplement, including UCC financing statements in Louisiana.
The Trust Estate. The Issuer shall have made or caused to be made all filings with the Indiana Commission and the Secretary of State of the State of Indiana pursuant to the Financing Order and the Securitization Act and all other filings necessary to perfect the Grant of the Trust Estate to the Indenture Trustee and the Lien of this Indenture and the Series Supplement, including but not limited to UCC Financing Statements in Delaware or Indiana, as applicable.
The Trust Estate. 20 SECTION 4.1. Acceptance by Indenture Trustee.......................................................................... 20 SECTION 4.2. Acquisition of Timeshare Loans............................................................................ 20 SECTION 4.3. [RESERVED].................................................................................................. 21 SECTION 4.4. Tax Treatment.................................................................................................. 21 SECTION 4.5. Further Action Evidencing Grant of Security Interest and Assignments................................ 21 SECTION 4.6. Substitution and Repurchase of Timeshare Loans........................................................ 22 SECTION 4.7. Release of Lien................................................................................................ 24 SECTION 4.8. Appointment of Custodian and Paying Agent............................................................ 25 ARTICLE V. SERVICING OF TIMESHARE LOANS.............................................................................25 SECTION 5.1. Appointment of Servicer and Backup Servicer; Servicing Standard.................................. 25 SECTION 5.2. Payments on the Timeshare Loans.......................................................................... 25 SECTION 5.3. Duties and Responsibilities of the Servicer................................................................ 26 2
The Trust Estate. Trustor, without any consideration on the part of Trustee, has delivered to Trustee money and property, as described in Exhibit "A", attached hereto as part of this Trust Agreement. Said property and the proceeds received by Trustee therefrom, and all money and property hereinafter held by or received by Trustee, as Trustee hereunder, shall constitute the Trust estate ("Trust Estate"). Trustee acknowledges delivery of said property and agrees to hold and manage the same, in trust, for the uses and in the manner hereinafter set forth. Trustor or any other legal person or entity shall have the right by Will or otherwise to add to this Trust any other property acceptable to Trustee, and such property shall become a part of the Trust Estate. The name of this Trust shall be "THE 1996 XXXXXXX X. XXXXXX TRUST dated September 29, 1996."
The Trust Estate. 18 SECTION 4.1. Acceptance by Indenture Trustee................................................18 SECTION 4.2. Acquisition of Timeshare Loans.................................................19 SECTION 4.3. [RESERVED].....................................................................19 SECTION 4.4. Tax Treatment..................................................................19
