SMALL TRUST TERMINATION Sample Clauses

SMALL TRUST TERMINATION. If at any time after the death of the Settlor, the value of the principal assets of the funds comprising any issue's portion of the Trust established under Section 1.3 shall be less than TWENTY-FIVE THOUSAND DOLLARS ($25,000.00), then the Settlor directs that such trust or trusts shall not be established or shall terminate, as the case may be.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
SMALL TRUST TERMINATION. If at any time a separate trust created hereunder shall be of the aggregate principal value of Fifty Thousand Dollars ($50,000.00) or less, the Trustee, in the Trustee's sole discretion, may distribute the assets of such trust then in the possession of the Trustee to the Current Beneficiary if he is then living, or if he is not then living to the then income beneficiary or beneficiaries in the proportions in which they are then entitled to receive income, or, if their respective rights to receive income are discretionary with the Trustee, then to such of the income beneficiaries who are descendants of the Grantor, per stirpes, and such trust shall thereupon terminate, notwithstanding any provision herein to the contrary.
Sample 1Sample 2
SMALL TRUST TERMINATION. If, at any time, any Trust shall be in the aggregate principal value of Ten Thousand Dollars ($l0,000.00) or less, the Trustee may, in her sole discretion, terminate such Trust and distribute the assets to the beneficiary, or beneficiaries, the share of each being in the same proportion as he or she is a beneficiary under the terms of the Trust.
Sample 1
SMALL TRUST TERMINATION. Notwithstanding anything to the contrary contained in this instrument, if at any time the market value of the assets of any trust under this instrument is less than $100,000 and the Trustee determines that it is inadvisable or uneconomical to administer such trust, then the Trustee may distribute the principal and any accrued and undistributed income to the income beneficiaries of such trust, in the proportions in which they are entitled thereto, or if their interests are indefinite, then in equal shares.
Sample 1

Related to SMALL TRUST TERMINATION

  • Post Termination After the Employee has terminated their employment with the Employer, the Employee shall be bound to Section XII of this Agreement for a period of ☐ Months ☐ Years (“Confidentiality Term”). If the Confidentiality Term is beyond any limit set by local, State, or Federal laws, then the Confidentiality Term shall be the maximum allowed legal time-frame.

  • MERGER ON TERMINATION The voluntary or other surrender of this Lease by Tenant, or a mutual termination of this Lease, shall terminate any or all existing subleases unless Landlord, at its option, elects in writing to treat the surrender or termination as an assignment to it of any or all subleases affecting the Premises.

  • Continuing Security Interest; Termination (a) This Pledge Agreement shall create a continuing security interest in and to the Collateral and shall, unless otherwise provided in the Indenture or in this Pledge Agreement, remain in full force and effect until the Termination Date. This Pledge Agreement shall be binding upon the parties hereto and their respective transferees, successors and assigns, and shall inure, together with the rights and remedies of the Trustee and the Collateral Agent hereunder, to the benefit of the Trustee, the Collateral Agent, the Pledgor, the Holders and their respective successors, transferees and assigns.

  • Rights on Termination (a) If during the Service Term Executive’s employment is terminated under Section 5 above (x) by the Company without Cause or (y) by Executive with Good Reason, then:

  • Termination of Interim Trust Agreement This Agreement (other than Article VI) and the trust created hereby shall terminate and be of no further force or effect upon the earlier of (i) the termination of the Trust pursuant to Section 9.1 of the Trust Agreement and (ii) the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. James’s, living on the date hereof.

  • Post-Termination Cooperation Following any termination of this Agreement, all Parties shall thereafter cooperate fully and work diligently in good faith to achieve an orderly resolution of all matters resulting from such termination.

  • Termination and Suspension Customer is entitled to suspend the performance of its obligations in whole or in part or terminate the Agreement with immediate effect, without prejudice to its right to claim damages and without any compensation to or indemnification of Supplier (i) in case Supplier has been declared bankrupt, is in a state of liquidation, has ceased or suspended whole or a substantial part of its business, is subject of a court order or preventative legal scheme of settlement, (ii) in case of non- compliance with the Compliance Requirements or the provisions of safety, health, environment and security or (iii) in case of not approved changes pursuant to article 10. After such termination Customer may return received Goods and/or Services in whole or partly against repayment and retransfer of ownership therein to Supplier.

Time is Money Join Law Insider Premium to draft better contracts faster.