Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution Certificate, the Depositor shall be the sole beneficial owner of the Trust.
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.01 hereof and until the issuance of Certificates, the Depositor shall be the sole beneficial owner of the Trust.
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Sponsor pursuant to Section 2.01 hereof and until the issuance of Certificates, the Sponsor shall be the sole beneficial owner of the Trust.
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Sponsor pursuant to Section 2.05 hereof and until the issuance of the Trust Certificates, the Sponsor shall be the sole beneficial owner of the Trust.
Initial Beneficial Ownership. As of the formation of the Trust by the contribution by the Seller pursuant to Section 2.5 and until the issuance of the CARAT 2007-SN1 Certificates, the Seller has been the sole beneficial owner of the Trust.
Initial Beneficial Ownership. Upon the initial contribution by the Depositor pursuant to Section 2.05 and until the conveyance of the Underlying Certificates pursuant to Section 3.01 and the issuance of the Owner Trust Certificates, and thereafter except as otherwise permitted hereunder, the Depositor shall be the sole beneficial owner.
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.06 hereof and until the issuance of the Trust Certificate, the Depositor shall be the sole beneficial owner of the Trust. Upon the occurrence of the initial Transaction under the Repurchase Agreement, the Trust Certificate and all beneficial interests therein shall be assigned by the Depositor to the Buyer and the Trust Certificate shall be re-registered in the name of the Buyer. For the avoidance of doubt, until the Repurchase Agreement is terminated and the obligations owed to the Buyer thereunder are paid in full, the Buyer shall, for all intents and purposes, be recognized hereunder as the Certificateholder of the Trust Certificate. Section 3.02
Initial Beneficial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to the Short-Form Trust Agreement and until the issuance of the Certificates, the Depositor shall be the sole beneficial owner of the Issuer. A Certificate representing a 100% Percentage Interest shall be issued to the Depositor.
Initial Beneficial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.05 and until the issuance of the Trust Certificate, the Depositor shall be the sole beneficial owner of the Trust. The Depositor hereby names KBNA as its designated Affiliate and hereby directs the Owner Trustee to issue the Trust Certificate in KBNA’s name. After the issuance of the Trust Certificate, KBNA, as the initial Certificateholder will be the sole beneficial owner of the Trust.
Initial Beneficial Ownership. Upon the formation of the Issuer by the contribution by the Depositor pursuant to Section 2.5 hereof and until the issuance of the Certificates, the Depositor shall be the sole beneficial owner of the Issuer. A Certificate representing a [__]% Percentage Interest shall be issued to JPMorgan Chase Bank and a Certificate representing a [__]% Percentage Interest shall be issued to CFS Resources.
