Common use of Further Encumbrance of Trust Property Clause in Contracts

Further Encumbrance of Trust Property. Immediately upon the conveyance to the Trust by the Seller of any item of the Trust Property pursuant to Sections 2.1 or 2.2, all right, title and interest of the Seller in and to such item of Trust Property shall terminate, and all such right, title and interest shall vest in the Trust, in accordance with the Trust Agreement and Sections 3802 and 3805 of the Statutory Trust Statute (as defined in the Trust Agreement).

Further Encumbrance of Trust Property. Immediately upon the conveyance to the Trust by the Seller of any item of the Trust Property pursuant to Sections 2.1 or 2.2Section 2.1, all right, title and interest of the Seller in and to such item of Trust Property shall terminate, and all such right, title and interest shall vest in the Trust, in accordance with the Trust Agreement and Sections 3802 and 3805 of the Statutory Trust Statute (as defined in the Trust Agreement).