Ownership of the Trust. On the Startup Day the ownership interests in the Trust shall be transferred as set forth in Section 4.02 hereof, such transfer to be evidenced by sale of the Certificates as described therein. Thereafter, transfer of any ownership interest shall be governed by Sections 5.04 and 5.08 hereof.
Ownership of the Trust. The assets of the Trust shall be held separate and apart from any assets now or hereafter held in any capacity other than as Trustee hereunder by the Trustees or by any successor Trustees. All of the assets of the Trust shall at all times be considered as vested in the Trustees. No Shareholder shall be deemed to have a severable ownership in any individual asset of the Trust or any right of partition or possession thereof, but each Shareholder shall have a proportionate undivided beneficial interest in the Trust.
Ownership of the Trust. On the Closing Day the ownership interests in the Trust and the subtrusts shall be transferred as set forth in Section 4.2 hereof, such transfer to be evidenced by sale of the Certificates as described therein. Thereafter, transfer of any ownership interest shall be governed by Sections 5.4 and 5.8 hereof.
Ownership of the Trust. The Company shall continue (i) to directly or indirectly maintain 100% ownership of the Common Securities of the Trust; provided that any permitted successor of the Company hereunder may succeed to the Company's ownership of such Common Securities and (ii) to use its reasonable efforts to cause the Trust (x) to remain a statutory business trust, except in connection with the distribution of Securities to the holders of Trust Securities in liquidation of the Trust, the redemption of all of the Trust Securities, or certain mergers, consolidations or amalgamations, each as permitted by the Declaration, and (y) to otherwise continue to be classified for United States Federal income tax purposes as a grantor trust or another entity which is not subject to United States federal income tax at the entity level and the assets and income of which are treated for United States federal income tax purposes as held and derived directly by holders of interests in the entity.
Ownership of the Trust. The Company will at all times own 100% of the Common Securities of the Trust (subject to the provisions of the Trust Agreement) free and clear of any Lien.
Ownership of the Trust. The Company agrees that (i) it shall maintain ownership, directly or indirectly, of 100% of the Common Securities, provided, however, that any successor of the Company permitted pursuant to Section 7.03 may succeed to the Company's ownership of the Common Securities, and (ii) it shall cause the Trust to remain a statutory business trust under the laws of the State of Delaware.
Ownership of the Trust. 44 SECTION 2.7.
Ownership of the Trust. The Company agrees that it shall maintain legal and beneficial ownership of 100% of the Common Securities, free and clear of any Lien, provided, however, that any successor of the Company permitted pursuant to Section 7.4 may succeed to the Company’s ownership of the Common Securities.
Ownership of the Trust. .. 35 Section 2.07 Situs of the Trust........... 35 Section 2.08
Ownership of the Trust. Upon the creation of the Trust, Global Funding shall be the sole beneficial owner of the Trust.
