Of the Trust Sample Clauses

Of the Trust. As an inducement to Seller to enter into this Agreement, the Trust hereby represents, warrants and covenants to Seller as follows:
Of the Trust. The Bank of New York Trust Company, N.A. (as successor to JX Xxxxxx Cxxxx Bank, N.A.), as trustee of the Trust (the “Trustee”), on behalf of the Trust, covenants and agrees with the several Underwriters as follows:
Of the Trust. 4 Notwithstanding the provisions directing the Trustee to apply principal liberally, the Trust expressly conveyed broad latitude to the Trustee to act in 4 Since Appellant has not identified an ambiguity in the Trust documents, there is no need for us to consider the circumstances under which Decedent executed the Trust, nor is there any need for us to resort to general rules of construction in interpreting the relevant provisions. its sole discretion in deciding whether to invade principal to provide support and maintenance to Appellant. In addition, the residual paragraph at the conclusion of section A of the SIXTH Article of the Trust affirmatively empowered the Trustee to consider other resources available to Appellant when considering discretionary payments under section A.1.b. We agree with the Orphans’ court that the Trustee may consider such resources when distributing principal for any purpose under section A.1.b. and not simply for Appellant’s housing needs. As the Orphans’ court aptly observed: Furthermore, [t]he [Orphans’ c]ourt interprets the final sentence [of the residual paragraph of the SIXTH Article] to be a confluence of two distinct directions given by the [D]ecedent. The Trustee, in its discretion, is authorized by the [D]ecedent to distribute unlimited principal for the purchase, expansion, improvement or replacement of one or more homes for [Appellant], up to the exhaustion of the [T]rust. The Trustee is also directed to give consideration to [Appellant’s] other available resources as the Trustee deems appropriate to making discretionary distributions. Trial Court Opinion, 9/24/13, at 7. For each of these reasons, we conclude that Appellant is not entitled to relief on her second claim. Order affirmed in part and vacated in part. Case remanded. Jurisdiction relinquished. Judgment Entered. Xxxxxx X. Xxxxxxx, Esq. Prothonotary
Of the Trust. If Employee fails to execute a "Designation of Method of Benefit Payment" form and deliver it to the Trustee, the Trustee shall pay over and distribute such one-half (1/2) portion of the Trust in one lump-sum to Employee or his beneficiary, as the case may be. The Trust shall provide that upon making any distribution to Employee, the Trustee shall withhold from such distribution the amount, if any, required to be withheld for federal, state and local taxes.
Of the Trust. Interest on the unpaid principal balance, at an annual interest rate (the "Interest Rate") equal to 8.0%, shall be paid quarterly, in arrears, on each January 1, April 1, July 1 and October 1, commencing January 1, 1997, and shall be calculated on the basis of a 360-day year of 30-day months. Whenever any payment falls due on a Saturday, Sunday or public holiday, such payment shall be made on the next succeeding business day. This Note shall be construed under the laws of the State of Indiana. The undersigned represents and warrants that the indebtedness represented by this Note was incurred for the purpose of purchasing shares of Common Stock, $2.50 par value, of the Company. This Note may not be assigned by the Company, other than by operation of law, without the prior express written consent of the undersigned. The Company shall have no recourse whatsoever to any assets of the Trustee in its individual or corporate capacity for repayment. The Trustee is entering into this Agreement not in its individual or corporate capacity but solely as Trustee, and no personal or corporate liability or personal or corporate responsibilities are assumed by, or shall at any time be asserted or enforceable against, the Trustee in its individual or corporate capacity under, or with respect to, this Agreement. The Northern Trust Company, on behalf of THE AXXXX INDUSTRIES, INC. EMPLOYEE STOCK BENEFIT TRUST By: /s/ Mxxxxxx X. Xxxxxxx, Xx. ---------------------------- Name: Mxxxxxx X. Xxxxxxx, Xx. Title: Vice President Schedule A PRINCIPAL PAYMENT DATES Date Amount January 1, 1997 $1,000,000 January 1, 1998 $1,000,000 January 1, 1999 $1,000,000 January 1, 2000 $1,000,000 January 1, 2001 $1,000,000 January 1, 2002 $1,000,000 January 1, 2003 $1,000,000 January 1, 2004 $1,000,000 January 1, 2005 $1,000,000 January 1, 2006 $33,187,500
Of the Trust. For as long as this Agreement is effective, the Trust shall on behalf of each Fund furnish to Forum any and all amendments to its Organic Documents and prospectuses. SECTION 2.
Of the Trust. The Trustee, on behalf of the Trust, covenants and agrees with the several Underwriters as follows:
Of the Trust. (a) it is a Delaware statutory trust; (b) it has full power and authority to enter into this Agreement, and that the undersigned has full power and authority to execute the Agreement on the Trust's behalf; (c) all securities, funds and other assets which at any time constitute an Account are the sole property of the Trust and are free from any charge or encumbrance; (d) it has obtained all necessary licenses, permits, approvals or other registrations to act as a Delaware statutory trust (and will promptly notify the Sub-Adviser if any such licenses, permits, approvals or other registrations are suspended, revoked or not renewed); and (e) it shall not transact in or remove from an Account any securities, funds or other assets without first giving reasonable written notice to the Sub-Adviser or terminating this Agreement.