Marital Trust Sample Clauses

Marital Trust. The Trustees shall not allocate to the Marital Trust any property or proceeds of property that cannot qualify for the marital deduction. All property not set aside for the Family Trust shall fund the Marital Trust.
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Marital Trust. 1. The Trustee shall pay the net income of the Marital Trust to or for the benefit of Grantor's spouse, as long as she lives, not less often than quarterly, commencing with the date of Grantor's death.
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Marital Trust. A marital trust established under Paragraph B2 of ARTICLE V shall be held, administered and distributed as follows:
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Marital Trust. Portion B and Portion C of the First Decedent's net residuary estate and any other property which is directed to be held and disposed of in accordance with this Article, shall each be held as a separate trust by the Trustees, IN TRUST, to manage, invest and reinvest the same, to collect the income thereof, and to pay over or apply the net income, on a quarterly basis insofar as may be practicable, but at least annually, to or for the benefit of the Surviving Spouse during his or her life.
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Marital Trust. If my wife survives me or there is no sufficient evidence that we died other than simultaneously (in which event my wife conclusively shall be presumed for purposes of this Section to have survived me) and any of the trust estate is included in my gross estate for purposes of determining the United States estate tax payable because of my death, the Trustee as of my death shall set apart, in a separate trust to be known as the "Marital Trust" and to be administered as provided in this Section, all of the trust estate that so is included and that consists of Qualified Property which remains after satisfaction of all dispositions and payments under prior provisions of this instrument. "Qualified Property" shall mean such property (or its proceeds) in the trust estate as, if given outright to my wife, would qualify for the marital deduction for purposes of determining the United States estate tax payable because of my death. My personal representative shall elect according to the principles of Section 2056(b)(7) of the Code to qualify the trust estate of the Marital Trust for the marital deduction, to such extent, if any, as my personal representative determines to be advisable. If less than all of the trust estate of the Marital Trust qualifies for the marital deduction, the portion that qualifies shall be known as the "Marital Portion," the portion that does not qualify shall be known as the "NonMarital Portion," and (i) the Trustee shall charge any payment of principal according to subsection (A)(2) of this Section to the Marital Portion until the Marital Portion is exhausted, (ii) at any time during the life of my wife before the end of the administration of my estate, the Trustee may divide the trust estate of the Marital Trust into separate trusts consisting, respectively, of the Marital Portion and the NonMarital Portion and (iii) the Trustee shall administer each separate trust, created according to (ii), as if, separately, the separate trust were the Marital Trust.
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Marital Trust. The estate and property of the Marital Trust shall be held, managed, and distributed by the Trustee as follows:
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Marital Trust. The Marital Trust shall consist of that portion of the decedent's share, called the "marital deduction amount," determined in accordance with the provisions of paragraph 3.5 below.
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Marital Trust. The term "Marital Trust" as used in this instrument shall have the meaning set forth in paragraph 3.3.2,3.4.2 above.
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Marital Trust 
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Related to Marital Trust

  • Anti-Trust The MA Dual SNP hereby certifies to HHSC that neither the MA Dual SNP, nor the person represented by the MA Dual SNP, nor any person acting for the represented person, has been found by a judgment of a court of law to have violated the anti-trust laws codified by Chapter 15, Texas Business and Commerce Code, or the federal anti-trust laws.

  • Grantor Trust The Trust is intended to be a grantor trust, of which the Sponsor is the grantor, within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Code, as amended, and shall be construed accordingly.

  • Trust Not a Partnership This Declaration creates a trust and not a partnership. No Trustee shall have any power to bind personally either the Trust's officers or any Shareholder.

  • Trust Not a Partnership; Taxation It is hereby expressly declared that a trust and not a partnership is created hereby. No Trustee hereunder shall have any power to bind personally either the Trust's officers or any Shareholder. All persons extending credit to, contracting with or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Portfolio or, until the Trustees shall have established any separate Portfolio, of the Trust for payment under such credit, contract or claim; and neither the Shareholders, the Trustees, nor the Trust's officers nor any of the agents of the Trustees whether past, present or future, shall be personally liable therefor. It is intended that the Trust, or each Portfolio if there is more than one Portfolio, be classified for income tax purposes as an association taxable as a corporation, and the Trustees shall do all things that they, in their sole discretion, determine are necessary to achieve that objective, including (if they so determine), electing such classifications on Internal Revenue Form 8832. The Trustees, in their sole discretion and without the vote or consent of the Shareholders, may amend this Agreement to ensure that this objective is achieved.

  • Grantor Trust Administration (a) The Tax Administrator shall treat the Grantor Trust Pool, for tax return preparation purposes, as a Grantor Trust under the Code. The Tax Administrator shall also perform on behalf of the Grantor Trust Pool all reporting and other tax compliance duties that are the responsibility of such Grantor Trust Pool under the Code or any compliance guidance issued by the IRS or any state or local taxing authorities. The expenses of preparing and filing such returns shall be borne by the Tax Administrator.

  • Real Estate Investment Trust Commencing with its taxable year ended December 31, 2009, the Company has been organized and operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Code, and its proposed method of operation will enable it to continue to meet the requirements for qualification and taxation as a REIT under the Code.

  • PERPETUAL TRUSTEES W A. LTD. (ACN 008 666 886) of 00 Xx. Xxxxxx’s Terrace Perth in the State of Western Australia as trustee of the Burswood Property Trust (“the Trustee”); AND BURSWOOD RESORT (MANAGEMENT) LIMITED (ACN 009 396 945) of 00 Xxx Xxxxxxxxx Xxxxx xx xxx Xxxxx xx Xxxxxxx Xxxxxxxxx as manager of the Burswood Property Trust (“the Manager”) of the third part.

  • Liquidating Trustee Upon the dissolution of the Company, such party as is designated by a Majority in Interest will act as liquidating trustee of the Company (the “Liquidating Trustee”) and proceed to wind up the business and affairs of the Company in accordance with the terms of this Agreement and applicable law. The Liquidating Trustee will use its reasonable best efforts to sell all Company assets (except cash) in the exercise of its best judgment under the circumstances then presented, that it deems in the best interest of the Members. The Liquidating Trustee will attempt to convert all assets of the Company to cash so long as it can do so consistently with prudent business practice. The Members and their respective designees will have the right to purchase any Company property to be sold on liquidation, provided that the terms on which such sale is made are no less favorable than would otherwise be available from third parties. The gains and losses from the sale of the Company assets, together with all other revenue, income, gain, deduction, expense, loss and credit during the period, will be allocated in accordance with Article 5. A reasonable amount of time shall be allowed for the period of winding up in light of prevailing market conditions and so as to avoid undue loss in connection with any sale of Company assets. This Agreement shall remain in full force and effect during the period of winding up. In addition, upon request of the Board and if the Liquidating Trustee determines that it would be imprudent to dispose of any non-cash assets of the Company, such assets may be distributed in kind to the Members in lieu of cash, proportionately to their right to receive cash distributions hereunder.

  • Successor Trust Administrator Any successor trust administrator appointed as provided in Section 10.07 hereof shall execute, acknowledge and deliver to the Depositor and to its predecessor trust administrator an instrument accepting such appointment hereunder and thereupon the resignation or removal of the predecessor trust administrator shall become effective and such successor trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trust administrator herein. The Depositor, upon receipt of all amounts due it hereunder, and the predecessor trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trust administrator all such rights, powers, duties, and obligations. No successor trust administrator shall accept appointment as provided in this Section 10.08 unless at the time of such acceptance such successor trust administrator shall be eligible under the provisions of Section 10.06 hereof and its acceptance shall not adversely affect the then current rating of the Certificates. Upon acceptance of appointment by a successor trust administrator as provided in this Section 10.08, the Depositor shall mail notice of the succession of such trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten days after acceptance of appointment by the successor trust administrator, the successor trust administrator shall cause such notice to be mailed at the expense of the Depositor.

  • Voting Trust The voting trust hereby created shall commence on the date hereof and continue through and including December 31, 2005. Throughout such period the Trustee shall have the exclusive right to vote upon such shares or to give written consents in lieu of voting thereon, subject to any limitation on the right to vote contained in the Articles of Incorporation or other certificate filed pursuant to law, in person or by proxy at all meetings of the shareholders of the Corporation, and in all proceedings wherein the vote or written consent of shareholders may be required or authorized by law.

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