Under ss Sample Clauses

Under ss. 3805(c) of the Business Trust Statute, and assuming that the Loan Sale Agreement conveys good title to the Initial Financed Student Loans to the Trust as a true sale and not as a security arrangement, the Trust rather than the Certificateholders is the owner of the Initial Financed Student Loans.

Under ss. 3805(b) of the Business Trust Act, no creditor of any Certificateholder or Noteholder shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust except in accordance with the terms of the Trust Agreement.

Under ss. 3805(c) of the Business Trust Act, except to the extent otherwise provided in the Trust Agreement, the Trust rather than the Certificateholders or Noteholders is the owner of the Receivables.

Under ss. 3805(c) of the Act, and assuming that the Deposit Trust Agreement conveys good title to the Mortgage Loans to the Bond Trust as a true sale and not as a security arrangement, the Bond Trust rather than the Holder of the Investor Certificate is the owner of the Mortgage Loans;

Under ss. 3805(c) of the Business Trust Act, a Certificateholder has no interest in specific Trust property.

Under ss. 3803(a) of the Act, to the extent provided in the Trust Agreement, the Owners are jointly and severally liable for the obligations of the Trust.

Under ss. 3805(b) of the Act, no creditor of any Holder of an Investor Certificate shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Bond Trust except in accordance with the terms of the Deposit Trust Agreement;

Under ss. 3805(c) of the Business Trust Act, and assuming that the Loan Sale Agreement conveys good title to the Initial Trust Loans to the Trust as a true sale and not as a security arrangement, the Trust rather than NMELC is the owner of the Initial Trust Loans.