Bare Trust Clause Samples
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Bare Trust. Notwithstanding anything else in this Agreement, the parties acknowledge that the trust established under this Agreement is intended to be treated as a bare trust for Canadian federal income tax purposes. Accordingly, the parties to this Agreement agree not to make any Canadian tax filing or take any Canadian tax position that is inconsistent with the treatment of the trust as a bare trust. For the avoidance of doubt, none of the Trustee, the Certificate Administrator or any other party to this Agreement is responsible for any Canadian tax administration, or has any liability for any Canadian tax consequences.
Bare Trust. The Trustee holds each CBA Trust Asset attributable to a Relevant Seller on bare trust for that Relevant Seller, in accordance with clause 2.2.
Bare Trust. Notwithstanding any other provisions of these Terms and/or of the Estate Terms (as applicable):
(a) the Client at all times retains legal and beneficial ownership of all Digital Assets held in the Client's Wallet(s) and of the smart contract giving effect to the Wallet;
(b) to the extent that legal title to your Digital Assets is held by Everlasting or the Digital Executor, Everlasting or the Digital Executor (as applicable) holds that title for the Client as a bare trustee; and
(c) to the extent that Everlasting has or is deemed to have custody of any of your Digital Assets, Everlasting will segregate your Digital Assets such that they can be separately identified from any other clients.
Bare Trust. 1.01 Notwithstanding that the Trustee is the legal owner of the Property (the “Trust Property”), the Trustee hereby acknowledges, confirms and declares that their right, interest and title in the Trust Property that they now have is held as bare trustee.
1.02 The Trustee further confirms and declares that all profits, advantages and payments accruing on the Trust Property or arising therefrom are and shall be held by the Trustee for the use, benefit and advantage of the Beneficial Owner solely.
1.03 The Trustee further confirms that on demand the Trustee shall transfer to the Beneficial Owner, or its nominee, the said Trust Property and account for all profits, advantages and payments accruing thereon or arising therefrom for the use, benefit and advantage of the Beneficial Owner.
1.04 The Trustee agrees to maintain the Trust Property as a separate asset and agrees not to intermingle any of the Trust Property with the Trustee's personal assets.
1.05 As a bare trustee the Trustee agrees to deal with the Trust Property in accordance with the Beneficial Owner's instructions and to execute any and all security or transfer documents on behalf of the Beneficial Owner as may be required from time to time. For greater certainty, the Trustee further agrees to do all things that may be reasonably necessary to give effect to this Agreement or the Beneficial Owner's wishes in respect of the Trust Property.
Bare Trust. 40 2.6 Duration of the CBA Trust.......................................40 2.7 Early Termination of the CBA Trust..............................40 2.8 Dealing with CBA Trust Assets of the Series Trust...............40 2.9 Proceeds........................................................40 2.10 CBA Trust Not Part of Assets of the Series Trust................41 2.11