Authorization of the Certificates. Concurrently with the sale of the Transferred Assets to the Issuer pursuant to the Sale and Servicing Agreement, the Owner Trustee shall cause a single Book-Entry Certificate to be executed on behalf of the Issuer, authenticated and delivered in the name of Cede & Co. The Certificate shall represent 100% of the Percentage Interest in the Issuer and shall be fully paid and nonassessable.
Appears in 2 contracts
Sources: Trust Agreement (Santander Drive Auto Receivables LLC), Trust Agreement (Santander Drive Auto Receivables LLC)