INDIVIDUAL TRUSTEE Sample Clauses

The INDIVIDUAL TRUSTEE clause defines the appointment and role of a person, rather than an institution or corporate entity, to act as trustee under a trust agreement. This clause typically outlines the qualifications, powers, and responsibilities of the individual trustee, such as managing trust assets, making distributions, and adhering to fiduciary duties. By specifying an individual as trustee, the clause ensures personal oversight and accountability in the administration of the trust, addressing the need for a trusted person to manage the trust according to the settlor's wishes.
INDIVIDUAL TRUSTEE. The term "Individual Trustee" shall refer to any Trustee that is a natural person and is not a bank, trust company, or other legal entity.
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INDIVIDUAL TRUSTEE. EXECUTION BY AUTHORISED REPRESENTATIVE: «Name_of_Trustee» OPTION 1: SOLE TRADER EXECUTION BY BUSINESS: OPTION 2: COMPANY EXECUTION BY BUSINESS: OPTION 3: INDIVIDUALS IN A PARTNERSHIP EXECUTION BY BUSINESS: Signed by each of the Partners who together are “the Business”: [insert additional signature blocks as necessary – UPDATE PAGE NUMBERS IN TABLE OF CONTENTS IF NECESSARY] OPTION 4: COMPANY IN A PARTNERSHIP EXECUTION BY BUSINESS: «Partner_1_Business_Name» «Business_ACN_1» «Partner_2_Business_Name» «Business_ACN_2» [insert additional signature blocks as necessary]
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INDIVIDUAL TRUSTEE. STATE OF _____________ ) ):ss: COUNTY OF ) On the ____ day of __________, 1999, before me personally came _________________, to me personally known who, being by me duly sworn, did depose and say that he resides in ___________________________; and that said instrument is his free act and deed. [NOTARIAL SEAL] SCHEDULE I INITIAL SECURITY DOCUMENTS
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INDIVIDUAL TRUSTEE. If a committee of individuals is appointed to serve as Trustee, any such individual may resign at any time by delivering to the Board of Directors a written notice of resignation, to take effect at a date specified therein, which shall not be less than thirty (30) days after delivery thereof, unless such notice shall be waived by the Board of Directors. If such individual resigns, the Board of Directors may appoint an individual to serve as successor Trustee. In the event the Board of Directors fails to appoint an individual to serve as successor Trustee, the remaining individuals serving as Trustee shall constitute the Trustee. The Board of Directors shall appoint a successor Trustee upon the resignation of the last individual serving as Trustee. An individual appointed to serve as Trustee may be removed by the Board of Directors by delivering to such individual a written notice of removal to take effect at a date specified therein, unless such notice shall be waived by such individual. In the event of such removal, the Board of Directors may appoint an individual to serve as successor Trustee. In the event the Board of Directors fails to appoint an individual to serve as successor Trustee, the remaining individuals serving as Trustee shall constitute the Trustee. The Board of Directors shall appoint a successor Trustee upon the removal of the last individual serving as Trustee. In the case of the resignation or removal of an individual appointed to serve as Trustee, such individual, to the extent necessary, shall transfer all right, title and interest in the assets of the Trust Fund to the individual appointed to serve as successor Trustee. Any individual appointed to serve as successor Trustee shall have the same powers and duties hereunder as those conferred upon the initial individual serving as Trustee. As used in this Section 3.11(b), in the case of an Individual Trustee serving as a Trustee of the ▇▇▇▇▇▇▇▇▇ & ▇▇▇▇ Plan, each reference to the Board of Directors shall be deemed to be a reference to the Board of Directors of ▇▇▇▇▇▇▇▇▇ & ▇▇▇▇, Inc..
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INDIVIDUAL TRUSTEE. Within six (6) months after any Individual Trustee has served for a period of two (2) years, the Settlor shall have the power by way of a written instrument to direct said Individual Trustee to resign, with or without cause, as described in Section 6.2.4. If the Settlor does not so direct a particular Individual Trustee to resign, he or she shall then serve for a successive term of three (3) years that shall be deemed to commence as of the day after the expiration of the prior term, with the same right in the Settlor within six (6) months of the expiration of said term to direct said Individual Trustee's resignation. There shall be no limit to the number of terms a particular Individual Trustee may serve and the Settlor shall always be able to direct such Individual Trustee's resignation as set forth above within six (6) months of the expiration of any such term, and if the Settlor does not exercise said power, the next three (3) year term shall be deemed to commence as of the day after the expiration of the prior term.
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Related to INDIVIDUAL TRUSTEE

  • Initial Trustee Upon his execution of this Declaration of Trust or a counterpart hereof or some other writing in which he accepts such Trusteeship and agrees to the provisions hereof, the individual whose signature is affixed hereto as Initial Trustee shall become the Initial Trustee hereof.

  • Delaware Trustee The name and business address of the trustee of the Trust in the State of Delaware is Wilmington Trust Company, ▇▇▇▇▇▇ Square North, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇.

  • Owner Trustee This Agreement has been signed on behalf of the Grantor by U.S. Bank Trust National Association, not in its individual capacity, but solely in its capacity as Owner Trustee of the Grantor. In no event will U.S. Bank Trust National Association in its individual capacity or a beneficial owner of the Grantor be liable for the Grantor’s obligations under this Agreement. For all purposes under this Agreement, the Owner Trustee is subject to, and entitled to the benefits of, the Trust Agreement.

  • Trustee Section 7.01.

  • Successor Owner Trustee Any successor Owner Trustee appointed pursuant to Section 9.2 shall execute, acknowledge and deliver to the Depositor, the Servicer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement; and the Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 9.1. Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Servicer shall mail notice of the successor of such Owner Trustee to the Certificateholder, the Trustee, the Noteholders and the Rating Agencies. If the Servicer shall fail to mail such notice within 10 days after acceptance of appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Servicer.