Effect on Trustees Sample Clauses
The "Effect on Trustees" clause defines how the terms of an agreement or action impact the rights, duties, and liabilities of trustees involved. Typically, this clause clarifies whether trustees are personally liable for obligations or if their responsibilities are limited to the assets held in trust. For example, it may specify that trustees act only in their official capacity and are not individually responsible for debts or claims arising from the trust. The core function of this clause is to protect trustees from personal liability and ensure that their obligations are clearly limited to their role as fiduciaries, thereby providing certainty and risk allocation for those serving as trustees.
Effect on Trustees. The Trustees have established this Plan solely in their capacity as Trustees on behalf of the Fund and the obligations of the Fund hereunder shall not be personally binding upon the Trustees or any of the Unitholders of the Fund or any annuitant under a plan of which a Unitholder is a trustee or carrier (“annuitant”). Any recourse against the Fund, the Trustees or any Unitholder or annuitant in any manner in respect of any indebtedness, obligation or liability of the Fund arising hereunder or arising in connection herewith or from the matters to which this Plan relates, if any, including, without limitation, claims based on negligence or otherwise tortious behaviour, shall be limited to, and satisfied only out of the Fund’s assets, without recourse to the personal assets of any of the foregoing persons. TO: Solium Capital Inc. FROM: G▇▇▇ ▇▇▇▇▇▇▇ Title: 710, 8▇▇ ▇(▇▇) ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇, ▇, ▇▇▇ ▇▇▇ Work Address: Phone: (▇▇▇) ▇▇▇-▇▇▇▇ Phone: Fax: (▇▇▇) ▇▇▇-▇▇▇▇ Fax: I hereby elect to exercise Exchange Options of Fording Canadian Coal Trust (the “Fund”) granted to me under the provisions of the Exchange Option Plan (the “Plan”) dated . The grant ID was and the Exercise Price of these Exchange Options was set as $ per Optioned Unit. I have enclosed a certified cheque, bank draft or money order in the amount of $ (number of options being exercised x Exercise Price) representing the cost to purchase Units of the Fund and any tax payable in accordance with Section 5.4 of the Plan. I request that the certificate be registered and delivered as follows: Address: City/Province: Postal Code: I hereby elect to exercise Unit Appreciation Rights (UARs) of the Fund granted to me under the provisions of the Exchange Option Plan dated . The grant ID was and the price of these UARs are set at $ per unit. Current Revenue Canada/Quebec administrative practice provides that 50% of the appreciation realized by the UAR exercise is exempt from income tax. The remaining 50% of the appreciation will be taxed at the top marginal rate. (Address I would like my cheque mailed to) Dated: (City/Province/Postal Code) To be completed by Solium Capital Inc. and faxed to the Fund: Solium Capital Inc. confirms that is eligible to exercise the entitlement indicated herein. Solium Capital Inc. Date This Option Agreement is entered into between Fording Canadian Coal Trust (the “Fund”) and the optionholder named below (the “Optionholder”) is a participant in the Fording Canadian Coal Trust Exchange...
Effect on Trustees. 14 SCHEDULE "A - NOTICE OF EXERCISE FORDING CANADIAN COAL TRUST EXCHANGE OPTION PLAN SCHEDULE "B" - FORM OF OPTION AGREEMENT CANADIAN COAL TRUST EXCHANGE OPTION PLAN OPTION AGREEMENT SCHEDULE "C"-- CASHLESS EXERCISE INSTRUCTION FORM FORDING CANADIAN COAL TRUST EXCHANGE OPTION PLAN SCHEDULE "B" - FORDING CANADIAN COAL TRUST NOTE SCHEDULE "C" SCHEDULE "D" - 4123212 CANADA LTD. COMMON SHARES SCHEDULE "E" - 4123212 CANADA LTD. NOMINAL NOTE SCHEDULE "F" - 4123212 CANADA LTD. PREFERRED SHARES SCHEDULE "G" - 4123212 CANADA LTD. PROMISSORY NOTE SCHEDULE "H" - FCL AMALCO AMALGAMATION PROVISIONS SCHEDULE "I" - NEW FORDING AMALGAMATION PROVISIONS APPENDIX 1 TO SCHEDULE "I" APPENDIX J - LUSCAR/CONSOL NOTE
Effect on Trustees. Upon the occurrence of an unfriendly change in control, the Committee shall no longer have any authority to remove the Trustee or appoint a successor trustee. The Trustee may be removed, and a successor trustee appointed, only with the written consent of the Participants and Beneficiaries whose Accounts contain at least a majority of all assets then held in the Trust Fund. The removal of the Trustee or appointment of a successor trustee shall, however, remain subject to the same procedures as are described in Article VII.
Effect on Trustees. Upon the occurrence of an unfriendly change in control, the Committee shall no longer have any authority to remove the Trustee or appoint a successor trustee. The Trustee may be removed, and a successor trustee appointed, only with the written consent of the Participants and Beneficiaries whose Accounts contain at least a majority of all assets then held in the Trust Fund. The removal of the Trustee or appointment of a successor trustee shall, however, remain subject to the same procedures as are described in Article VII.