Transferor Trust definition
Examples of Transferor Trust in a sentence
The Certificates are issued pursuant to a Pooling and Servicing Agreement, dated as of November 30, 2001 (the "Pooling and Servicing Agreement"), among HomEq Servicing Corporation (the "Servicer"), Citibank, N.A., as trustee (the "Trustee"), Residential Asset Funding Corporation, as depositor, RAFC Transferor Trust, as transferor, and First Union National Bank as certificate administrator and custodian.
Each Trust Certificate (other than the Transferor Trust Certificate) shall be issued in the name of the Initial Purchaser; provided, however, that upon delivery to the Initial Purchaser, the Owner Trustee and the Certificate Registrar of a letter in the form of Exhibit D, such Trust Certificate (other than the Transferor Trust Certificate) shall be reissued in the name and in the denomination set forth in such letter.
Except as set forth in the Basic Documents, any attempted transfer of the Transferor Trust Certificate by the Transferor shall be null and void.
The Transferor, as holder of the Transferor Trust Certificate and the Subordinated Notes, shall make no claim upon the Owner Trust Estate for the reimbursement of amounts paid pursuant to this Section.
If, however, the Trust Certificates are characterized as equity in the Issuer and the Issuer is characterized as a separate entity for federal income tax purposes, it is the intention of the parties that it qualify as a partnership, with the assets of the partnership being the Owner Trust Estate and the partners of the partnership being the Trust Certificateholders (including the Transferor as owner of the Subordinated Notes and the Transferor Trust Certificate) and the Notes being debt of the partnership.
On the Payment Date on which the Certificate Balance has been reduced to zero, the Owner Trustee shall release to the Transferor in its capacity of Transferor Trust Certificateholder and Subordinated Noteholder, without recourse, representation or warranty (except as set forth in Section 7.03), all of the Issuer's right, title, and interest in, to and under the Reserve Fund Property.
RBS and RBSA are treated as members of the same group for the purposes of section 43 of the VATA, and the representative member of such group is Group plc, which belongs in the UK in relation to all supplies of services made or received by it in connection with the transactions contemplated by the Transaction Documents regardless of whether such services are provided by or to RBS (in its capacities as Transferor, Trust Cash Manager and Servicer) or RBSA (in its capacity as Transferor).
RBS and RBSA are ▇▇▇▇▇▇▇ as members of the same group for the purposes of section 43 of the VATA, and the representative member of such group is Group plc, which belongs in the UK in relation to all supplies of services made or received by it in connection with the transactions contemplated by the Transaction Documents regardless of whether such services are provided by or to RBS (in its capacities as Transferor, Trust Cash Manager and Servicer) or RBSA (in its capacity as Transferor).
Ownership of Transferor Trust Certificate and Subordinated Notes..............................
If, however, the Issuer is characterized as a separate entity for federal income tax purposes, it is the intention of the parties that the Issuer qualify as a partnership for such purposes and the Transferor, as the holder of the Subordinated Notes and the Transferor Trust Certificate, will be treated as a partner in such partnership.