No Certificate Ownership Sample Clauses

The "No Certificate Ownership" clause establishes that the party receiving a certificate does not gain any ownership rights over the certificate itself or the underlying asset it represents. In practice, this means that even if a party holds or possesses a certificate—such as a certificate of insurance, compliance, or authenticity—they are not entitled to claim ownership or control over the subject matter of the certificate. This clause is important because it prevents misunderstandings or disputes about rights and interests, ensuring that certificates serve only as evidence or documentation rather than conferring property rights.
No Certificate Ownership. Lessee agrees that it will not, at any time, hold any Certificates.
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No Certificate Ownership. Except as permitted by Section 7.03 of the Trust Indenture, Lessee agrees that it will not, at any time, hold any Certificates or any interest (including through another Person) in any Certificates or any security secured by, in whole or in part, such Certificates.
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Related to No Certificate Ownership

  • Initial Certificate Ownership Since the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5, the Depositor has been the sole Certificateholder.

  • Beneficial Ownership Certificate As of the Closing Date, the information included in the Beneficial Ownership Certification, if applicable, is true and correct in all respects.

  • Beneficial Ownership Certification The information included in the Beneficial Ownership Certification, if applicable, is true and correct in all respects.

  • 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.

  • Class PO Certificates Private Certificates..................................... Class P, Class B-4, Class B-5 and Class B-6 Certificates. Rating Agencies.......................................... Fitch and S&P. Regular Certificates..................................... All Classes of Certificates other than the Class A-R Certificates. Residual Certificate..................................... Class A-R Certificates.