Granted Assets definition
Examples of Granted Assets in a sentence
The Trustee hereby acknowledges the conveyance of the Granted Assets and the receipt of the Leases and the other Granted Assets granted by the Issuer hereunder and declares that the Trustee, through a custodian, will hold such Leases and other Granted Assets conveyed by the Issuer in trust, for the use and benefit of all Noteholders subject to the terms and provisions hereof.
The parties hereto agree that it is their mutual intent that, for all applicable tax purposes, the Notes will constitute indebtedness and that for all applicable tax purposes, accordingly, the Issuer will be treated as sole and exclusive owner of the Granted Assets.
The Trustee hereby acknowledges the conveyance of the Granted Assets and the receipt of the Leases and the other Granted Assets granted by the Company hereunder and declares that the Trustee, through a custodian, will hold such Leases and other Granted Assets conveyed by the Company in trust, for the use and benefit of all Noteholders subject to the terms and provisions hereof.
Indenture Trustee hereby acknowledges the conveyance of the Granted Assets and the receipt of the Leases and the other Granted Assets granted by Issuer hereunder and declares that Indenture Trustee, through a custodian, will hold such Leases and other Granted Assets conveyed by Issuer in trust, for the use and benefit of all Noteholders subject to the terms and provisions hereof.
Immediately following the transfer by the Seller to the Transferor of the Leases and the Seller's interest in the Equipment, the Leases (including the right to receive all payments due or to become due thereunder) and the interest in the Equipment will be free and clear of all Liens, except the Lien on the Granted Assets in favor of the Trustee granted pursuant to the Indenture (or the Lien in favor of the Transferor which is assigned to the Trustee pursuant to the Indenture).
All such amounts (other than investments made with such amounts, which shall be payable on each Payment Date to the Servicer as additional servicing compensation), shall be held by the Trustee in such accounts as part of the Granted Assets as herein provided, subject to withdrawal by the Trustee in accordance with, and for the purposes specified in the provisions of, this Indenture.
At such time, the Trustee shall deliver to the Issuer or, upon Issuer Order, its assignee, all cash, securities and other property held by it as part of the Granted Assets other than funds deposited with the Trustee pursuant to Section 10.01(i)(B), for the payment and discharge of the Notes.
Immediately following the transfer by the Transferor to the Issuer of the Leases and the Transferor's interest in the Equipment, the Leases (including the right to receive all payments due or to become due thereunder) and the interest in the Equipment will be free and clear of all Liens, except the Lien on the Granted Assets in favor of the Trustee granted pursuant to the Indenture (or the Lien in favor of the Issuer which is assigned to the Trustee pursuant to the Indenture).
Neither the Trustee nor any Noteholder shall have any rights against the Issuer other than to enforce the Lien against the Leases and the Equipment and to sell the Granted Assets.
The foregoing provisions shall not preclude or limit the ability of the Trustee to purchase all or any portion of the Granted Assets at a private sale.