Depositor definition
Examples of Depositor in a sentence
Upon effective resignation hereunder, the resigning Depositor shall be discharged and shall no longer be liable in any manner hereunder except as to acts or omissions occurring prior to such resignation and any successor depositor appointed by the Trustee pursuant to Section 7.01(g) shall thereupon perform all duties and be entitled to all rights under this Indenture.
The successor Depositor shall not be under any liability hereunder for occurrences or omissions prior to the execution of such instrument.
If at any time dividends, interest, principal or other payments, after declared and when due and payable, on any of the Securities shall not have been paid within thirty (30) days, the Trustee shall notify the Depositor thereof.
For this Series, the Depositor will deposit cash with the Trustee in connection with the initial deposit of Securities in the amount specified in the Statement of Net Assets in the Prospectus, and will replicate such cash deposit in connection with any deposit of Additional Securities pursuant to Section 2.01(b)(5).
Immediately prior to the transfers and assignments herein contemplated, the Seller has good and marketable title to each Receivable free and clear of all Liens (except Permitted Liens and any Lien that will be released prior to the assignment of such Receivable hereunder), and, immediately upon the transfer thereof, the Depositor shall have good and marketable title to each Receivable, free and clear of all Liens except Permitted Liens.