Common use of Trust Certificates and Transfer of Interests Clause in Contracts

Trust Certificates and Transfer of Interests. Section 3.1 Initial Beneficial OwnershipUpon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Certificates, the Depositor shall be the sole beneficial owner of the Trust Property.

Trust Certificates and Transfer of Interests. Section 3.1 SECTION 3.1. Initial Beneficial OwnershipUpon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until Ownership. Until the issuance of the Trust Certificates, the Depositor shall be the sole beneficial owner beneficiary of the Trust PropertySecuritization Trust.