Examples of Pass Through Trust in a sentence
Nothing herein shall be construed to be an assumption by the Pass-Through Trust Trustee of any duties or obligations of any party to this Agreement, the duties of the Pass-Through Trust Trustee being solely those set forth in the Pass-Through Trust Agreement, and the parties hereto acknowledge and agree that the Pass-Through Trust Trustee shall have no duty to act under this Agreement unless pursuant to appropriate direction under the Pass-Through Trust Agreement.
All Additional Repurchase Assets shall be deemed to be part of the Pass-Through Trust.
Evidence that all other actions necessary or, in the opinion of Buyer, desirable to perfect and protect Buyer’s interest in the Repurchase Assets have been taken, including, without limitation, ensuring that all Pass-Through Trust Interests are evidenced by certificates in registered form and that such Pass-Through Trust Interests constitute and remain “securities” (as defined in Section 8-102 of the Uniform Commercial Code).
Any sums paid upon or in respect of the Pass-Through Trust Interests upon the liquidation or dissolution of the Pass-Through Trust or otherwise shall be paid over to the Buyer as additional security for the Obligations.
Upon transfer of the Purchased Certificate to the Buyer or Contributed Mortgage Loans to the Pass-Through Trust Trustee for the Pass- Through Trust and until termination of any related Transactions or the release of Contributed Mortgage Loans as set forth in Sections 4 or 16 of this Agreement, ownership of the Purchased Certificate, and control of the Purchased Assets, is vested in Buyer.