Operation of Trust Sample Clauses

Operation of Trust. The Trustee shall receive and hold all the Assets and shall (a) distribute Assets in kind whenever the Trustee believes to do so would be prudent, and (b) from time to time, but not less often than annually, pay over to the Beneficiaries any cash which is received as the result of the collection of any income from the Trust Property or as the result of any disposition of the Trust Property. Such distributions shall be made according to the Beneficiaries’ respective Beneficial Interests, provided, however, that no distribution shall be made to Beneficiaries without first satisfying or adequately providing for (i) all claims of creditors, except as the same may be provided for by cash and other assets retained by the Trust for such purpose, (ii) a reserve for the reasonable expenses incurred or to be incurred by the Trustee and (iii) an amount equal to the aggregate amounts payable to all Missing Beneficiaries.
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Operation of Trust. The Administrator, on behalf of the Trust, shall receive and hold all the Trust Property and shall make payments from the Trust to claimants in accordance with Section 1.5 of this Trust Agreement. Other than as set forth in Section 3.4 below, no payments shall be made to the Beneficiaries until all claims against or obligations of the Partnership and the Trust have been paid or otherwise provided for to the extent required by law. Once all such claims and obligations have been paid, or otherwise provided for, the balance of the Trust Property shall then be distributed to the Beneficiaries in accordance with Section 3.4 hereof as promptly as reasonably possible by the Administrator with a view to not unduly prolonging the duration of the Trust; PROVIDED, HOWEVER, that no distribution shall be made to the Beneficiaries without first reasonably satisfying or adequately providing a reserve for the reasonable expenses incurred or to be incurred by, or on behalf of, the Trust. In addition, the Administrator may, subject to the proviso in the preceding sentence, distribute any of the Trust Property to the Beneficiaries in-kind. The Administrator shall take such action as it deems appropriate to enforce the rights of the Trust to the Trust Property so that the Beneficiaries may receive the full benefit thereof.
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Operation of Trust. The Trustees shall receive and hold all of the Property, shall invest and reinvest the Trust Property and shall, subject to Sections 4.1 and 4.3 of this Agreement, from time to time pay or apply from the Trust Property such amounts as reasonably necessary, in the determination of the Trustees, to pay any Appropriate Litigation Expenditures (such payment or application of Trust Property, a “Payment”).
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Operation of Trust. The trustees will be entitled to seek professional legal accounting and expert assistance as may be reasonably required and the costs thereof will be charged to the income and capital of the trust fund.
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Operation of Trust. The Trustees shall receive and hold all the Assets and may from time to time (but no less frequently than annually) pay over to the Beneficiaries any cash which is received as the result of (a) any disposition of the Trust Property and (b) the collection of any income derived from investment or reinvestment of the Trust Property; provided, however, that no distribution shall be made to the Beneficiaries without first satisfying or adequately providing for (i) all known or contingent claims of creditors, and (ii) a reserve for the reasonable expenses incurred or to be incurred by the Trustees. In addition, the Trustees may, in their absolute discretion, distribute any of the Assets to the Beneficiaries in-kind. The Trustees shall take such action as they deem appropriate to enforce any rights to the Trust Property so that the Beneficiaries may receive the full benefit thereof. Notwithstanding any other provision hereunder, the Trustees shall distribute all Trust Property to the Beneficiaries upon the termination of the Trust pursuant to Section 8.1 below.
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Operation of Trust. The Trustees shall receive and hold all the Assets and may, from time to time in their sole discretion, make distributions to the Beneficiaries of cash from the Trust Property; provided, however, that no distribution shall be made to the Beneficiaries without first satisfying or adequately providing for (i) all known or contingent claims of creditors, and (ii) a reserve for the reasonable expenses incurred or to be incurred by the Trustees. The Trustees shall take such action as they deem appropriate to enforce any rights to the Trust Property so that the Beneficiaries may receive the full benefit thereof. Notwithstanding any other provision hereunder, the Trustees shall distribute all Trust Property to the Beneficiaries upon the termination of the Trust pursuant to Section 8.1 below.
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Operation of Trust. The Trustees shall receive and hold all the Shares. The Trustees shall endeavor to distribute the Shares (and any other Trust Property) to the Beneficiaries as promptly as is practicable. If such a distribution is determined not to be practicable, the Trustee shall sell the Shares and distribute the proceeds. Notwithstanding the foregoing, the Trustees shall, no less frequently than annually, pay over to the Beneficiaries in accordance with their relative Beneficial Interests all income or earnings derived from the investment or reinvestment of the Trust Property.
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Operation of Trust. 4 3.3 No Payment to the Partnership. . . . . . . . . . . . . 5 3.4 Distributions. . . . . . . . . . . . . . . . . . . . . 5 3.5
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Operation of Trust 
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Related to Operation of Trust

  • Creation of Trust The Purchaser hereby irrevocably transfers and assigns to the Trustee, and the Trustee hereby accepts the transfer and assignment of, the right to vote and consent for the Purchaser in connection with all of its voting and consent rights and responsibilities as Beneficial Owner of the Subject Shares with respect to the following matters (collectively, the “Voting Matters”):

  • Duration of Trust Unless terminated as provided herein, the Trust shall have perpetual existence.

  • Termination of Trust Section 9.01

  • VALUATION OF TRUST In addition to each Accounting Date, the Trustee must value the Trust Fund on the following valuation date(s): (Choose (a) or (b))

  • Termination of Trust Agreement Section 9.01.

  • Protection of Trust Estate The Issuer will from time to time execute and deliver all such supplements and amendments hereto and all such financing statements, continuation statements, instruments of further assurance and other instruments, and will take such other action necessary or advisable to:

  • Termination of Trust Indenture Upon (or at any time after) payment in full of the Original Amount of, Make-Whole Amount, if any, and interest on and all other amounts due under all Equipment Notes and provided that there shall then be no other Secured Obligations due to the Indenture Indemnitees, the Note Holders and the Mortgagee hereunder or under the Participation Agreement or other Operative Agreement, the Owner Trustee shall direct the Mortgagee to execute and deliver to or as directed in writing by the Owner Trustee an appropriate instrument releasing the Aircraft and the Engines from the Lien of this Trust Indenture and releasing the Lease, the Purchase Agreement, the Purchase Agreement Assignment with the Consent and Agreement and the Engine Consent and Agreement attached thereto from the assignment and pledge thereof hereunder and the Mortgagee shall execute and deliver such instrument as aforesaid and give written notice thereof to Lessee; provided, however, that this Trust Indenture and the trusts created hereby shall earlier terminate and this Trust Indenture shall be of no further force or effect upon any sale or other final disposition by the Mortgagee of all property constituting part of the Trust Indenture Estate and the final distribution by the Mortgagee of all monies or other property or proceeds constituting part of the Trust Indenture Estate in accordance with the terms hereof. Except as aforesaid otherwise provided, this Trust Indenture and the trusts created hereby shall continue in full force and effect in accordance with the terms hereof.

  • Dissolution and Termination of Trust (a) The Trust shall dissolve upon the earliest of:

  • Application of Trust Funds (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date.

  • Duration and Termination of Trust Section 4. Unless terminated as provided herein, the Trust shall continue without limitation of time. Subject to the voting powers of one or more classes or series of Shares as set forth in the Bylaws, the Trust may be terminated at any time (i) by vote or consent of Shareholders holding at least seventy-five percent (75%) of the Shares entitled to vote or (ii) by vote or consent of majority of the entire Board of Trustees and seventy-five percent (75%) of the Continuing Trustees upon written notice to the Shareholders. Any series or class of Shares may be terminated at any time (x) by vote or consent of Shareholders holding at least seventy-five percent (75%) of the Shares of such series of class entitled to vote or (y) by vote or consent of majority of the entire Board of Trustees and seventy-five percent (75%) of the Continuing Trustees upon written notice to the Shareholders of such series or class. For the avoidance of any doubt and notwithstanding anything to the contrary in this Declaration, Shareholders shall have no separate right to vote with respect to the termination of the Trust or a series of class of Shares if the Trustees (including the Continuing Trustees) exercise their right to terminate the Trust or such series or class pursuant to clauses (ii) and (y) of this Section 4. Upon termination of the Trust or of any one or more series or classes of Shares, after paying or otherwise providing for all charges, taxes, expenses and liabilities, whether due or accrued or anticipated, of the Trust or of the particular series or class, as may be determined by the Trustees, the Trust shall in accordance with such procedures as the Trustees consider appropriate reduce the remaining assets to distributable form in cash or shares or other property, or any combination thereof, and distribute the proceeds to the Shareholders of the series or class(es) involved, ratably according to the number of Shares of such series or class held by the several Shareholders on the date of termination, except to the extent otherwise required or permitted by the preferences and special or relative rights and privileges of any classes or series of Shares.

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