Trust Property. (a) All bank accounts and other Trust -------------- Property shall be established by the Certificate Trustee on behalf of the Trust and held and maintained by the Certificate Trustee on behalf of the Trust at its Corporate Trust Office. The Trust shall use separate stationery and other business forms and shall maintain separate records and books of account from those of the Originator. The Trust's assets shall not be commingled with those of the Originator, and the Trust shall act solely in its own name through its duly authorized agents in the conduct of its business. (b) The Trust and the Originator each covenant and agree to hold itself out to the public under its own name as a separate and distinct entity and will each conduct its business so as not to mislead others as to its identity. The Trust shall cause the preparation of its financial documents separate and apart from those of the Originator. (c) The Trust will not engage in any business transactions with the Originator. (d) The Certificate Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the use and benefit of the Certificate holders. The Certificate Trustee hereby acknowledges that it has deposited the sum of $1 in the Certificate Account on the date hereof, such sum constituting the initial Trust Property contributed by the Originator.
Appears in 3 contracts
Sources: Declaration and Agreement of Trust (Pg&e Funding LLC), Declaration and Agreement of Trust (Sce Funding LLC), Declaration and Agreement of Trust (Sdg&e Funding LLC a De Limited Liability Co)
Trust Property. (a) All bank accounts and other Trust -------------- Property shall be established by the Certificate Trustee on behalf of the Trust and held and maintained by the Certificate Trustee on behalf of the Trust at its Corporate Trust Office. The Trust shall use separate stationery and other business forms and shall maintain separate records and books of account from those of the Originator. Such stationery and forms shall be prepared by the Certificate Trustee. The Trust's assets shall not be commingled with those of the Originator, and the Trust shall act solely in its own name through its duly authorized agents in the conduct of its business.
(b) The Trust and the Originator each covenant and agree to hold itself out to the public under its own name as a separate and distinct entity and will each conduct its business so as not to mislead others as to its identity. The Trust shall cause the preparation of its financial documents separate and apart from those of the Originator.
(c) The Trust will not engage in any business transactions with the Originator.
(d) The Certificate Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the use and benefit of the Certificate holders. The Certificate Trustee hereby acknowledges that it has deposited the sum of $1 in the Certificate Distribution Account on the date hereof, such sum constituting the initial Trust Property contributed by the Originator.
Appears in 3 contracts
Sources: Trust Agreement (Pg&e Funding LLC), Trust Agreement (Sce Funding LLC), Declaration and Agreement of Trust (Sdg&e Funding LLC a De Limited Liability Co)
Trust Property. (a) All bank accounts and other Trust -------------- Property shall be established by the Certificate Trustee on behalf of the Trust and held and maintained by the Certificate Trustee on behalf of the Trust at its Corporate Trust OfficeOffice or at another Eligible Institution. The Trust shall use separate stationery and other business forms and shall maintain separate records and books of account from those of the Originator. The Trust's assets shall not be commingled with those of the Originator, and the Trust shall act solely in its own name through its duly authorized agents in the conduct of its business.
(b) The Trust and the Originator each covenant and agree to hold itself out to the public under its own name as a separate and distinct entity and will each conduct its business so as not to mislead others as to its identity. The Trust shall cause the preparation of its financial documents separate and apart from those of the Originator.
(c) The Except as otherwise contemplated by the Basic Documents, the Trust will not engage in any business transactions with the Originator.
(d) The Certificate Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the use and benefit of the Certificate holdersCertificateholders. The Certificate Trustee hereby acknowledges that it has deposited the sum of $1 in the Certificate Account on the date hereofNovember 7, 1997, such sum constituting the initial Trust Property contributed by the Originator.
Appears in 2 contracts
Sources: Declaration and Agreement of Trust (Pg&e Funding LLC), Declaration and Agreement of Trust (Sdg&e Funding LLC a De Limited Liability Co)
Trust Property. (a) All bank accounts and other Trust -------------- Property shall be established by the Certificate Trustee on behalf of the Trust and held and maintained by the Certificate Trustee on behalf of the Trust at its Corporate Trust OfficeOffice or at another Eligible Institution. The Trust shall use separate stationery and other business forms and shall maintain separate records and books of account from those of the Originator. The Trust's assets shall not be commingled with those of the Originator, and the Trust shall act solely in its own name through its duly authorized agents in the conduct of its business.
(b) The Trust and the Originator each covenant and agree to hold itself out to the public under its own name as a separate and distinct entity and will each conduct its business so as not to mislead others as to its identity. The Trust shall cause the preparation of its financial documents separate and apart from those of the Originator.
(c) The Except as otherwise contemplated by the Basic Documents, the Trust will not engage in any business transactions with the Originator.
(d) The Certificate Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the use and benefit of the Certificate holders. The Certificate Trustee hereby acknowledges that it has deposited the sum of $1 in the Certificate Account on the date hereofNovember 7, 1997, such sum constituting the initial Trust Property contributed by the Originator.
Appears in 1 contract
Sources: Declaration and Agreement of Trust (Sce Funding LLC)