Title to Owner Trust Estate. Legal title to all the Owner Trust Estate shall be vested at all times in the Securitization Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be.
Title to Owner Trust Estate. Legal title to the Owner Trust Estate shall be vested at all times in the Issuer as a separate legal entity except where Applicable Law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be; provided, that concurrently with or prior to title being deemed to be vested in a co-trustee and/or separate trustee, such trustee must provide a written grant of a security interest in the Owner Trust Estate to the Indenture Trustee and must authorize the filing of financing statements to perfect the Indenture Trustee’s security interest.
Title to Owner Trust Estate. Title to all of the Owner Trust Estate will be vested in the Trust as a separate legal entity until this Trust Agreement terminates pursuant to Article VII; provided, however, that if the laws of any jurisdiction require that title to any part of the Owner Trust Estate be vested in the trustees of a trust, then title to that part of the Owner Trust Estate will be deemed to be vested in the Owner Trustee or any co-owner trustee or separate owner trustee, as the case may be, appointed pursuant to Article VIII; provided, further, that legal title to the Loans included in the Owner Trust Estate will be vested at all times in the Issuer Loan Trustee on behalf of the Trust pursuant to the terms of the Issuer Loan Trust Agreement.
Title to Owner Trust Estate. Legal title to all the Owner Trust Estate shall be vested at all times in the Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee, in which case title shall be vested in the Owner Trustee, the Certificate Trustee or any co-trustee or separate trustee, as the case may be. No Certificateholder shall have legal title to any part of the Owner Trust Estate. The Class A Certificateholders shall be entitled to receive distributions with respect to their undivided ownership interest in the Class A Assets only in accordance with the Transaction Documents. The Class REO Certificateholders shall be entitled to receive distributions with respect to their undivided ownership interest in the Class REO Assets only in accordance with the Transaction Documents. No transfer, by operation of law or otherwise, of any right, title or interest by any Certificateholder of its ownership interest in the Owner Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner Trust Estate.
Title to Owner Trust Estate. Section 2.9.
