UTI definition
Examples of UTI in a sentence
Each party hereto agrees for the benefit of each holder, assignee or pledgee from time to time of the UTI or UTI Certificate and any Other SUBI or Other SUBI Certificate, to release all claims to the assets of the Origination Trust allocated to the UTI Portfolio and each Other SUBI Portfolio and in the event that such release is not given effect, to fully subordinate all claims it may be deemed to have against the assets of the Origination Trust allocated to the UTI Portfolio and each Other SUBI Portfolio.
Porsche Funding Limited Partnership (“PFLP”), a Delaware limited partnership and the Origination Trustee are parties to the Amended and Restated Trust Agreement dated as of November 14, 1997 (as amended by the UTI Assignment and Origination Trust Document Amendment, dated as of July 31, 2000, and as further amended, restated, supplemented or modified and in effect from time to time, the “Origination Trust Agreement”).
The Transaction SUBI Certificate shall be printed, lithographed, typewritten, mimeographed, photocopied or otherwise produced or may be produced in any other manner as may, consistent herewith and with the Origination Trust Agreement, be determined by the UTI Holder with the consent of the holder and each permissible pledgee of the Transaction SUBI Certificate.
Concurrently herewith, pursuant to the Transaction SUBI Supplement, the Seller shall direct the Origination Trustee and the Servicer to identify from the Origination Trust Assets allocable to the UTI Portfolio, and to allocate to the Transaction SUBI Portfolio represented by the Transaction SUBI Certificate, the Transaction SUBI Assets identified in Section 11.1 of the Transaction SUBI Supplement.
It is further understood that the Origination Trustee, in its individual capacity, shall have no recourse to any Transaction SUBI Assets, including such Transaction SUBI Assets that were UTI Assets at the time a claim against the Origination Trustee arose.