Common use of Under ss Clause in Contracts

Under ss. 3805(c) of the Business Trust Statute, and assuming that the Loan Sale Agreement conveys good title to the Initial Financed Student Loans to the Trust as a true sale and not as a security arrangement, the Trust rather than the Certificateholders is the owner of the Initial Financed Student Loans.

Under ss. 3805(c) of the Business Trust StatuteAct, and assuming that the Loan Sale Agreement conveys good title to the Initial Financed Student Loans to the Trust as a true sale and not as a security arrangement, the Trust rather than the Certificateholders Depositor is the owner of the Initial Financed Student Loans.