Compliance with STEP Sample Clauses
The 'Compliance with STEP' clause requires parties to adhere to the standards, rules, or procedures set by the Society of Trust and Estate Practitioners (STEP). In practice, this means that any actions, documentation, or administration related to trusts and estates must align with STEP's professional guidelines, which may include best practices for fiduciary duties, reporting, and ethical conduct. The core function of this clause is to ensure that all parties involved maintain a high level of professionalism and legal compliance, thereby reducing the risk of mismanagement or disputes in trust and estate matters.
Compliance with STEP. The Borrower will provide the Lender with evidence satisfactory to the Lender that the Borrower qualifies for STEP and the State of Illinois has deposited an amount equal to the original principal amount of Term Loan A with the Lender at an interest rate equal to the STEP rate in effect on the Closing Date.
Compliance with STEP. Use its reasonable efforts to comply with the requirements of STEP and maintain its eligibility to participate in STEP.
Compliance with STEP. 28 -ii- 45 9.6 Other ........................................................ 28