RCL Assets definition

RCL Assets means (i) cash and any amounts on deposit in or credited to the RCL Account from time to time, (ii) the interest of RCL from time to time in the Series 2000-1 Certificates and all proceeds thereof, (iii) the Subordinated Notes and $[ ] initial principal balance of Lease Trust Certificates and (iv) the Cash Collateral Account and all amounts deposited therein.
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Examples of RCL Assets in a sentence

  • Section 10.1 No Legal Title to RCL Assets; Direction of RCL Trustee Actions.

  • The RCL Trustee hereby declares that it shall hold all the RCL Assets, including all monies and proceeds of such RCL Assets, in trust for the benefit of the RCL Beneficiaries in accordance with their respective Percentage Interests from time to time.

  • The RCL Beneficiaries shall not have legal title to any RCL Assets.

  • The RCL Trustee or any such co-trustee and/or separate trustee shall at all times hold the RCL Assets on behalf of the RCL Beneficiaries.

  • Legal title to all the RCL Assets shall be vested at all times in RCL or, if required by applicable law, the RCL Trustee or a co-trustee and/or a separate trustee, as the case may be.

  • The RCL Trustee hereby acknowledges receipt in trust from each Grantor, as of the date hereof, of the foregoing contributions, which constitute the initial RCL Assets.

  • The RCL Trustee will, pursuant to the RCL Assignment Agreement, assign, transfer and convey to Ford Credit Leasing a 1% interest in the RCL Assets and all of the obligations of RCL Trust 1996-1, including its rights and obligations under the Program Operating Lease and the Subordinated Notes and any amounts payable to RCL Trust 1996-1 pursuant to the Transfer Agreement.

  • The RCL Trustee also agrees to disburse all moneys actually received by it constituting part of the RCL Assets upon the terms of this Agreement.

  • The RCL Trustee hereby declares that it shall hold all of the RCL Assets, including all monies and proceeds of such RCL Assets, in trust for the benefit of the RCL Beneficiary.

  • The provisions of this Agreement are solely for the benefit of the RCL Trustee, the Grantor and the RCL Beneficiary and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in RCL or the RCL Assets or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.