Common use of Conveyance of Trust Property Clause in Contracts

Conveyance of Trust Property. (a) The Seller, concurrently with the execution and delivery hereof, does hereby sell, transfer, assign and convey to the Depositor, at a purchase price previously agreed to by the Seller and Depositor, the Trust Property, without recourse (subject to the obligations herein), upon the terms and conditions hereof. (b) In consideration of the Trustee's delivery to, or upon the written order of the Depositor of authenticated Certificates, in authorized denominations, in an aggregate amount equal to the Initial Principal Balance, the Depositor does hereby sell, transfer, assign and convey to the Trustee, on behalf of the Trust, without recourse (subject to the obligations herein) upon the terms and conditions hereof, the Trust Property.