Common use of Legal Title Clause in Contracts

Legal Title. Legal title to all the Trust Property shall be vested in the Trustees as joint tenants except that the Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more of the Trustees, or in the name of the Trust or any Series of the Trust, or in the name of any other Person as nominee, on such terms as the Trustees may determine, provided that the interest of the Trust therein is deemed appropriately protected. The right, title and interest of the Trustees in the Trust Property shall vest automatically in each Person who may hereafter become a Trustee. Upon the termination of the term of office, resignation, removal or death of a Trustee he shall automatically cease to have any right, title or interest in any of the Trust Property, and the right, title and interest of such Trustee in the Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.

Appears in 9 contracts

Samples: Agreement and Declaration (John Hancock Exchange-Traded Fund Trust), Amended and Restated Agreement and Declaration of Trust (John Hancock Exchange-Traded Fund Trust), Agreement and Declaration of Trust (John Hancock Exchange-Traded Fund Trust)

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Legal Title. Legal title to all the Trust Property shall be vested in the Trustees as joint tenants except that the Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more of the Trustees, or in the name of the Trust or any Series of the Trust, or in the name of any other Person as nominee, on such terms as the Trustees may determine, provided that the interest of the Trust therein is deemed appropriately protected. The right, title and interest of the Trustees in the Trust Property shall vest automatically in each Person who may hereafter become a Trustee. Upon the termination of the term of office, resignation, removal or death of a Trustee Trustee, he shall automatically cease to have any right, title or interest in any of the Trust Property, and the right, title and interest of such Trustee in the Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.

Appears in 7 contracts

Samples: Agreement and Declaration of Trust (John Hancock Funds II), Agreement and Declaration of Trust (John Hancock Collateral Trust), Agreement and Declaration (John Hancock Collateral Trust)

Legal Title. Legal title to all the Trust Property shall be vested in the Trustees Trust as joint tenants a separate legal entity, except that the Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more of the Trustees, Trustees or in the name of the Trust or any Series of the Trust, or in the name of any other Person as nominee, on such terms as the Trustees may determine, provided provided, that the interest of the Trust or any Series therein is deemed appropriately protected. The right, title and interest of the Trustees in the Trust Property shall vest automatically in each Person who may hereafter become a Trustee. Upon the termination of the term of office, resignation, removal or death office of a Trustee he as provided in Section 2.2 or 2.4 hereof, such Trustee shall automatically cease to have any right, title or interest in any of the Trust Property, and the all right, title and interest of such Trustee in the Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivereddelivered as provided in Section 2.3 hereof.

Appears in 6 contracts

Samples: Underlying Funds Trust (Underlying Funds Trust), Agreement and Declaration (Aip Variable Insurance Trust), Underlying Funds Trust (Underlying Funds Trust)

Legal Title. Legal title to all the Trust Property shall be ----------- vested in the Trustees as joint tenants except that the Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more of the Trustees, or in the name of the Trust or any Series of the Trust, or in the name of any other Person as nominee, custodian or pledgee, on such terms as the Trustees may determine, provided that the interest of the Trust therein is deemed appropriately protected. The right, title and interest of the Trustees in the Trust Property shall vest automatically in each Person person who may hereafter become a TrusteeTrustee upon his due election and qualification. Upon the termination ceasing of the term of office, resignation, removal or death of any person to be a Trustee he for any reason, such person shall automatically cease to have any right, title or interest in any of the Trust Property, and the right, title and interest of such Trustee in the Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.

Appears in 4 contracts

Samples: Blackrock New York Municipal Income Trust, Blackrock Florida Municipal Income Trust, Blackrock California Municipal Income Trust

Legal Title. Legal title to all the Trust Property shall ----------- be vested in the Trustees as joint tenants except that the Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more of the Trustees, or in the name of the Trust or any Series of the Trust, or in the name of any other Person as nominee, custodian or pledgee, on such terms as the Trustees may determine, provided that the interest of the Trust therein is deemed appropriately protected. The right, title and interest of the Trustees in the Trust Property shall vest automatically in each Person person who may hereafter become a TrusteeTrustee upon his due election and qualification. Upon the termination ceasing of the term of office, resignation, removal or death of any person to be a Trustee he for any reason, such person shall automatically cease to have any right, title or interest in any of the Trust Property, and the right, title and interest of such Trustee in the Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.

Appears in 1 contract

Samples: Blackrock Municipal Income Trust

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Legal Title. Legal title to all the Trust Property shall be vested in the Trustees as joint tenants except that the Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more of the Trustees, or in the name of the Trust or any Series of the Trust, or in the name of any other Person as nominee, custodian or pledgee, on such terms as the Trustees may determine, provided that the SCHEDULE B interest of the Trust therein is deemed appropriately protected. The right, title and interest of the Trustees in the Trust Property shall vest automatically in each Person person who may hereafter become a TrusteeTrustee upon his due election and qualification. Upon the termination ceasing of the term of office, resignation, removal or death of any person to be a Trustee he for any reason, such person shall automatically cease to have any right, title or interest in any of the Trust Property, and the right, title and interest of such Trustee in the Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Blackrock Florida Municipal 2020 Term Trust)

Legal Title. Legal title to all the Trust Property shall be vested in the Trustees as joint tenants except that the Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more of the Trustees, or in the name of the Trust or any Series of the Trust, or in the name of any other Person as nominee, SCHEDULE B custodian or pledgee, on such terms as the Trustees may determine, provided that the interest of the Trust therein is deemed appropriately protected. The right, title and interest of the Trustees in the Trust Property shall vest automatically in each Person person who may hereafter become a TrusteeTrustee upon his due election and qualification. Upon the termination ceasing of the term of office, resignation, removal or death of any person to be a Trustee he for any reason, such person shall automatically cease to have any right, title or interest in any of the Trust Property, and the right, title and interest of such Trustee in the Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Blackrock Municipal 2020 Term Trust)

Legal Title. Legal title to all the Trust Property shall be vested in the Board of Trustees as joint tenants except that the Board of Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more members of the Board of Trustees, or in the name of the Trust or any Series of the Trust, or in the name of any other Person person as nominee, on such terms as the Board of Trustees may determine, provided that the interest of the Trust assets therein is deemed are appropriately protected. The right, title and interest of the Board of Trustees in the Trust Property shall vest automatically in each Person person who may hereafter become a Trustee. Upon the termination of the term of office, resignation, removal or death of a Trustee Trustee, he shall automatically cease to have any right, title or interest in any of the Trust Property, and the right, title and interest of such Trustee in the Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.

Appears in 1 contract

Samples: Agreement and Declaration

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