Formation of the Trust. The trust formed by the Original Trust Agreement and continued hereby shall be known as "[Education Funding Capital Trust-__]," under which and in which name, but solely to the extent provided in this Agreement, the Owner Trustee and the Co-Owner Trustee may conduct business, make and execute contracts and other instruments and xxx and be sued.
Formation of the Trust. The Trust was formed by the Trustees' filing the Trust's certificate of trust with the Office of the Secretary of State of the State of Delaware in accordance with section 3810 of the Delaware Act. It is the intention of the parties hereto that the Trust created thereby and governed hereby constitutes a statutory trust under the Delaware Act and that this Trust Instrument constitutes its governing instrument.
Formation of the Trust. 5 Section 2.1 Formation of the Trust........................................5 Section 2.2 Office........................................................5 Section 2.3
Formation of the Trust. (a) The Trust created hereby shall be known as "Digital Angel Share Trust," in which name the Trustee may conduct the affairs of the Trust, make and execute contracts and other instruments on behalf of the Trust and xxx and be sued on behalf of the Trust. ADS hereby appoints Wilmington Trust Company as trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth herein and in the Act. Wilmington Trust Company hereby agrees to hold the Trust Estate as Trustee on behalf of the Trust upon the terms and conditions set forth herein. The Trustee is hereby authorized to file the Certificate of Trust with the Delaware Secretary of State pursuant to Section 3810 of the Act.
Formation of the Trust. 1 Section 3. DEFINITIONS....................................................1
Formation of the Trust. The trust formed by the Original Trust Agreement and continued hereby shall be known as “CIT Education Loan Trust 2005-1”, under which and in which name, but solely to the extent provided in this Agreement, the Owner Trustee may conduct business, make and execute contracts and other instruments and xxx and be sued.
Formation of the Trust. The Trust was formed as a statutory business trust under and pursuant to the Trust Agreement, the Act and such other provisions of applicable law as shall pertain to statutory business trusts organized pursuant to and in accordance with the Act. It is the intention of the parties hereto that from and after the date hereof, this Agreement constitute the sole governing instrument of the Trust. All Persons owning or otherwise holding interests of beneficial ownership in the Trust shall own or otherwise hold such interests of beneficial ownership pursuant to the provisions of this Agreement.
Formation of the Trust. ORIG as a Depositor hereby assigns, transfers, conveys and sets over to the Trust certain shares of Drillship Alonissos Shareholders Inc. ("DA Shareholders Shares") and Drillship as a Depositor hereby assigns, transfers, conveys and sets over to the Trust certain shares of Drillship Alonissos Owners Inc. ("DA Owners Shares", and together with the DA Shareholders Shares, collectively, the "Deposited Shares"). The Trustee hereby acknowledges receipt of such shares in trust from each Depositor, which amount shall constitute the initial trust estate (the "Trust Estate"). Promptly upon receipt of the DA Shareholder Shares, the Trustee shall issue to ORIG the A Certificate (as hereinafter defined). Promptly upon receipt of the DA Owners Shares, the Trustee shall issue to Drillship the B Certificate (as hereinafter defined). Wilmington Trust Company is hereby appointed as the Trustee of the Trust and accepts such appointment effective as of the date thereof. The Trustee hereby declares that it will hold the Trust Estate in trust for the Holders (as hereinafter defined) of the Certificates. It is the intention of the parties hereto that the Trust created hereby constitute a statutory trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code, § 3801 et seq. (the "Statutory Trust Act"), and that this Agreement constitute the governing instrument of the Trust. The Trustee is hereby authorized and directed to execute and file a certificate of trust, substantially in the form attached hereto as Exhibit A, with the Secretary of State of the State of Delaware in accordance with the Statutory Trust Act. Upon the termination of the Trust, the Trustee is hereby authorized and directed to execute and file a Certificate of Cancellation with the Secretary of State of Delaware in accordance with the Statutory Trust Act.
Formation of the Trust. 4 2.2 Purpose of the Trust..............................................4 2.3 Property of the Trust.............................................4 2.4 Issuance of Preferred Stock.......................................4 2.5
Formation of the Trust. The Trust was formed on December 16, 2002 pursuant to the Initial Trust Agreement and upon the filing of the Certificate of Trust with the Delaware State Office. The Trust has been created pursuant to the Trustee's Plan of Reorganization to act as the Preferred Stock Trust to hold the Preferred Stock and any proceeds thereof for the benefit of Participating Creditors and their permitted successors and assigns as the Beneficial Owners of the Trust. It is the intention of the Parties hereto that the Trust be established under and comply with the Delaware Act, and that this document constitute the governing instrument of the Trust. The Regular Trustee may transact the business and affairs of the Trust in the name "Freedom Financial Group I Statutory Trust."
