Asset Trust definition
Examples of Asset Trust in a sentence
The Asset Interest in each Initial Asset Trust has been duly authorized, validly issued and fully paid for and non-assessable, and there is no other agreement outstanding that provides for the issuance of additional beneficial interests in such Initial Asset Trust, or that entitles any Person to exercise preemptive rights or to manage or direct any such Initial Asset Trust other than in accordance with the Asset Trust Agreements.
To ▇▇▇▇▇▇’▇ knowledge, there are no Governmental Orders outstanding against any Initial Asset Trust.
Neither ▇▇▇▇▇▇, nor any Initial Asset Trust is in breach of, or default under, any contract or agreement to which it is a party.
At all times that any Initial Asset Trust has been the owner of an Initial Asset, such Initial Asset Trust has been covered by aviation liability insurance policies in such types and amounts and covering such risks and with such insurers as are substantially consistent with ▇▇▇▇▇▇’▇ customary practices and such Initial Asset Trust will continue to be so covered on and after the applicable Delivery Date for such Initial Asset.
Any purchase of Assets pursuant to this Section 4.02 may take the form of the purchase of an Asset Trust.
Each Initial Asset Trust is and has been at all time from its organization an entity taxable either as a grantor trust or as a disregarded entity for Federal income tax purposes and ▇▇▇▇▇▇ has made an election, where it is required, to treat each Initial Asset Trust at all times from its organization as an entity taxable as a disregarded entity for Federal, state and local income tax purposes.
Date: April __, 2007 U.S. BANK NATIONAL ASSOCIATION, as Trustee By: _______________________________ Authorized Signatory This Certificate is one of a duly authorized issue of Certificates designated as Home Equity Asset Trust 2007-2, Home Equity Pass-Through Certificates, Series 2007-2, of the Series specified on the face hereof (herein collectively called the “Certificates”), and representing a beneficial ownership interest in the Trust Fund created by the Agreement.
Except to the extent that same is the responsibility of the Lessee under a Lease, each of ▇▇▇▇▇▇ and each Initial Asset Trust has obtained and is maintaining all permits, licenses, authorizations, certifications, exemptions and approvals necessary to enable it to carry on its business as presently conducted (collectively, “Permits”), and all such Permits are in full force and effect.
Date: April __, 2005 U.S. BANK NATIONAL ASSOCIATION, as Trustee By: ___________________________ Authorized Signatory This Certificate is one of a duly authorized issue of Certificates designated as Home Equity Asset Trust 2005-3, Home Equity Pass-Through Certificates, Series 2005-3, of the Series specified on the face hereof (herein collectively called the “Certificates”), and representing a beneficial ownership interest in the Trust Fund created by the Agreement.
The Servicer shall use commercially reasonable efforts to cause each Lessee to affix an ownership placard on each related Airframe and Engine stating that such Airframe or Engine is owned by the applicable Asset Trust.