Statutory Trust. It is the intention of the parties hereto that the Trust constitute a statutory trust organized under the Delaware Statutory Trust Act and that this Agreement constitute the governing instrument of the Trust. Pursuant to Section 3810 of the Delaware Statutory Trust Act, the Delaware Trustee shall file a Certificate of Trust with the Delaware Secretary of State to form the Trust. The parties hereto hereby appoint the Delaware Trustee as trustee of the Trust, to have all rights, powers and duties set forth herein and in accordance with the applicable law with respect to accomplishing the purposes of the Trust.
Statutory Trust. A trust fund established by state law to receive funds allocated to a Settling State's Remediation Accounts Fund and restrict any expenditures made using funds from the Settling State's Remediation Accounts Fund to Opioid Remediation, subject to reasonable administrative expenses. A State may give a Statutory Trust authority to allocate one
Statutory Trust. It is the intention of the parties that the Trust constitute a statutory trust organized under the Delaware Statutory Trust Act and that the Trust Agreement constitute the governing instrument of the Trust. Pursuant to Section 3810 of the Delaware Statutory Trust Act, on or before the date of the Trust Agreement, the Delaware Trustee shall file a Certificate of Trust with the Secretary of State to form the Trust. The parties to the Trust Agreement hereby appoint the Delaware Trustee as trustee of the Trust, to have all rights, powers and duties set forth in the Trust Agreement and in accordance with the applicable law, subject to modification by the Trust Agreement, with respect to accomplishing the purposes of the Trust.
Statutory Trust. The name “PNC Funds” and of any series thereof, and any reference to the “Trustees” of PNC Funds, refer respectively to the trust created and the Trustees, as trustees but not individually or personally, acting from time to time under the Agreement and Declaration of Trust which is hereby referred to and a copy of which is on file at the office of the State Secretary of the State of Delaware and at the principal office of the Fund. The obligations of the Fund entered into in its name (or in the name of one of its series) or on behalf thereof by any of its Trustees, representatives or agents, are made not individually, but in such capacities, and are not binding upon any of the Trustees, shareholders or representatives of the Fund personally, but bind only the Fund property, and all persons dealing with any class of shares of the Fund must look solely to the Fund property belonging to such class for the enforcement of any claims against the Fund.
Statutory Trust. 8 SECTION 2.4 Trust Beneficial Owner.........................................................8 SECTION 2.5 Purposes of the Trust..........................................................8 SECTION 2.6
Statutory Trust. Stewardship, as the owner of the Statutory Trust Securities that are common securities, will cause the Statutory Trust (a) to remain a statutory trust, (b) to otherwise continue to be classified as a grantor trust for federal income Tax purposes, and (c) to cause each holder of Statutory Trust Securities that are preferred securities to be treated as owning an undivided beneficial interest in the Statutory Trust Debentures. At the Effective Time, Columbia will assume Stewardship’s obligations and acquire its rights relating to the Statutory Trust, including Stewardship’s obligations and rights under the Statutory Trust Debentures, Statutory Trust Securities and the other Statutory Trust Agreements. In connection therewith, Stewardship will assist Columbia in assuming Stewardship’s obligations and acquiring its rights under the Statutory Trust, and will provide the documentation required to make such assumption of obligations and acquisition of rights effective, including any supplemental indentures, certificates and opinions of counsel that may be required under the Statutory Trust Agreements. Subject to the terms of the Statutory Trust Securities, immediately prior to the Closing, Stewardship will pay, or cause to be paid, to the proper Persons all deferred and accrued but unpaid interest and any outstanding fees relating to the Statutory Trust Debentures and the Statutory Trust.
Statutory Trust. The names “Xxxxxxx Xxxxx Trust” and Xxxxxxx Sachs Variable Insurance Trust are the designations of the Board of Trustees for the time being under their respective Declarations of Trust and all persons dealing with a Fund must look solely to the property of the Fund for the enforcement of any claims against the Fund as neither the Trustees, officers, agents, nor shareholders of any Fund assumes any personal liability for obligations entered into on behalf of a Fund.
Statutory Trust. The Company has been formed as a statutory trust under and pursuant to the laws of the state of Delaware. The Board of Trustees and the Shareholders specifically intend and agree that the Company shall, for purposes of the Code and state tax laws, be classified as an association. No Shareholder shall be construed to be a partner in the Company or a partner of any Shareholder or other Person in the Company, and this Agreement and the relationships created thereby and arising therefrom shall not be construed to suggest otherwise.
Statutory Trust. The name “Gxxxxxx Sxxxx Variable Insurance Trust” is the designation of the Board of Trustees for the time being under the Declaration of Trust and all persons dealing with Customer must look solely to the property of Customer for the enforcement of any claims against Customer as neither the Trustees, officers, agents, nor shareholders of Customer assume any personal liability for obligations entered into on behalf of the Customer. No portfolio of Customer shall be liable for any claims against any other portfolio of Customer.
Statutory Trust. 7 SECTION 3. PURPOSE, NATURE OF BUSINESS AND POWERS.................................................................7 SECTION 4. TERM...................................................................................................8
