NATURE OF TRUST SHARES Sample Clauses

NATURE OF TRUST SHARES. 3.1 The CRTC agrees and confirms that Trust Shares are state-owned shares, and agrees to perform its obligations as state shareholders and dispose Trust Shares in accordance with relevant laws and regulations of China for the period it acts as the beneficiary holder of Trust Shares (regardless before or after the listing of CNC HK), including but not limited to performing relevant obligations as state shareholder of CNC HK by referencing to relevant requirements of Interim Procedure for Management of Selling Out State-owned Shares to Raise Social Security Fund, and instructing CNC BVI to sell certain number of shares of CNC HK and fully pay the proceeds to the social security fund. The number of shares of CNC HK to be sold by the CRTC shall be calculated based on the following formula: Number of shares of CNC HK Number of Number of directly or indirectly held by CRTC new shares shares to be = -------------------------------------- x during the x 10% sold by CRTC Total number of shares of CNC listing of HK directly or indirectly held by all CNC HK state shareholders of CNC HK
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NATURE OF TRUST SHARES. 3.1 The Chinese Academy of Science agrees and confirms that Trust Shares are state-owned shares, and agrees to perform its obligations as state shareholders and dispose Trust Shares in accordance with relevant laws and regulations of China for the period it acts as the beneficiary holder of Trust Shares (regardless before or after the listing of CNC HK), including but not limited to performing relevant obligations as state shareholder of CNC HK by referencing to relevant requirements of Interim Procedure for Management of Selling Out State-owned Shares to Raise Social Security Fund, and instructing CNC BVI to sell certain number of shares of CNC HK and fully pay the proceeds to the social security fund. The number of shares of CNC HK to be sold by the Academy of Science shall be calculated based on the following formula: Number of shares of CNC HK Number of directly or indirectly held by Number of shares to Academy of Science new shares be sold by = ------------------------------------- x during the x 10% Academy Total number of shares of CNC listing of of Science HK directly or indirectly held by all CNC HK state shareholders of CNC HK
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Related to NATURE OF TRUST SHARES

  • Sale of Trust Shares 1.1 TRUST agrees to make available to the Separate Accounts of LIFE COMPANY shares of the selected Portfolios as listed in Appendix B for investment of proceeds from Variable Contracts allocated to the designated Separate Accounts, such shares to be offered as provided in TRUST's Prospectus.

  • Purchase and Redemption of Trust Portfolio Shares 1.1. For purposes of this Article I, the Company shall be the Trust's agent for the receipt from each account of purchase orders and requests for redemption pursuant to the Contracts relating to each Portfolio, provided that the Company notifies the Trust of such purchase orders and requests for redemption by 9:30 a.m. Eastern time on the next following Business Day, as defined in Section 1.3.

  • Sale of Trust Assets (a) [Intentionally Omitted].

  • Execution and Delivery of Trust Securities Certificates At the Time of Delivery, the Administrative Trustees shall cause Trust Securities Certificates, in an aggregate Liquidation Amount as provided in Sections 2.4 and 2.5, to be executed on behalf of the Issuer Trust and delivered to or upon the written order of the Depositor, executed by one authorized officer thereof, without further corporate action by the Depositor, in authorized denominations.

  • Termination of Trust Agreement Section 9.01.

  • Sale of Trust Estate (a) The power to effect any sale or other disposition (a "Sale") of any portion of the Trust Estate pursuant to Section 5.04 is expressly subject to the provisions of Section 5.05 and this Section 5.15. The power to effect any such Sale shall not be exhausted by any one or more Sales as to any portion of the Trust Estate remaining unsold, but shall continue unimpaired until the entire Trust Estate shall have been sold or all amounts payable on the Notes and under this Indenture and under the Insurance Agreement shall have been paid. The Indenture Trustee may from time to time postpone any public Sale by public announcement made at the time and place of such Sale. The Indenture Trustee hereby expressly waives its right to any amount fixed by law as compensation for any Sale.

  • Situs of Trust The Trust will be located and administered in the State of Delaware. All bank accounts maintained by the Owner Trustee on behalf of the Trust shall be located in the State of Delaware or the State of New York. Payments will be received by the Trust only in Delaware or New York and payments will be made by the Trust only from Delaware or New York. The Trust shall not have any employees in any state other than Delaware; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee, the Servicer or any agent of the Trust from having employees within or outside the State of Delaware. The only office of the Trust will be at the Corporate Trust Office located in Delaware.

  • Trust Agreement The Trust Agreement has been duly authorized, executed and delivered by the Company, and is a valid and binding agreement of the Company, enforceable against the Company, in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.

  • Rights of Trustee (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document.

  • The Trust Agreement The Trust Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

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