TERMINATION OF TRUSTS Sample Clauses

TERMINATION OF TRUSTS. 49 Section 11.01 Termination of the Trusts.................................................... 49
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TERMINATION OF TRUSTS. Section 11.01.
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TERMINATION OF TRUSTS. Section 11.1. Termination of the Trusts.............................. 48 ARTICLE XII
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TERMINATION OF TRUSTS. Notwithstanding any provisions hereof to the contrary, if during the administration of any trust or trusts hereunder, the Trustee in the Trustee's absolute discretion determines that the value of any such trust is such that the continuation thereof is uneconomic, or if the Trustee in the Trustee's absolute discretion determines that the continuation of this trust is not in the best interests of the beneficiaries, then the Trustee, in the Trustee's absolute discretion, may terminate any such trust or trusts and deliver the assets, discharged of all trusts, to the living beneficiaries who are then or would have been entitled to the income therefrom and in the same proportions; but if no beneficiary is then entitled to a specific portion of such income, then to the living income beneficiaries, per stirpes. ARTICLE V
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TERMINATION OF TRUSTS. Notwithstanding any other provision of this instrument, should the principal of any trust created under any provision of this instrument be or become, according to the discretion of the Trustees, sufficiently small in value that the administration thereof is no longer economically desirable, that the cost of administration is disproportionate to the value of the assets, or that the continuation thereof is no longer in the best interest of the beneficiary or beneficiaries, then the entire principal and all accumulated income of such trust shall be distributed outright to the person or persons entitled at the time to the income therefrom in the proportions in which they were entitled to receive the income, and upon such termination, the rights of all other persons who might otherwise have an interest as succeeding life income beneficiaries or as remaindermen shall cease. If any such person be then a minor, or in the opinion of the Trustee is physically incapacitated, then the Trustee may pay the share of such fund to which such person would otherwise be entitled to the parent, the guardian, or to the conservator of the estate or of the person of such beneficiary. EXECUTED at [LOS ANGELES CALIF] on [JANUARY 21ST], 1986 TRUSTEE: [Signature] XXXXXX X. XXXXXXX I certify that I have read the foregoing instrument and that it correctly states the terms and conditions under with the Trust Estate is to be held, managed and disposed of by the Trustee. I approve the instrument in all particularys and request that the Trustee execute it DATED [23 Jan], 1986 [Signature]
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TERMINATION OF TRUSTS. The Trustee may at any time in its sole and absolute discretion, terminate any Trust. In that event, the assets held in such Trust shall be distributed to the Participating Trusts having interests therein, or at the Trustee's discretion, shall be liquidated for their benefit in the same manner as it such Trust were a liquidating account, as provided in Section 5.5.
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TERMINATION OF TRUSTS. Section 11.01. Termination of the Trusts...........................................................51 ARTICLE XII MISCELLANEOUS PROVISIONS Section 12.01. Limitation on Rights of Certificateholders..........................................52 Section 12.02. Certificates Nonassessable and Fully Paid...........................................52 Section 12.03. Registration of Equipment Notes in Name of Subordination Agent......................53 Section 12.04. Notices.............................................................................53 Section 12.05. Governing Law.......................................................................54 Section 12.06. Severability of Provisions..........................................................54 Section 12.07. Trust Indenture Act Controls........................................................54 Section 12.08. Effect of Headings and Table of Contents............................................55 Section 12.09. Successors and Assigns..............................................................55 Section 12.10. Benefits of Agreement...............................................................55
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TERMINATION OF TRUSTS 
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Related to TERMINATION OF TRUSTS

  • Termination of Trust Section 9.01

  • Termination of Trust Agreement Section 9.01.

  • 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.

  • Procedure Upon Termination of Trust (a) Notice of any termination pursuant to the provisions of Section 10.1, specifying the Distribution Date upon which the final distribution shall be made, shall be given promptly by the Trustee by first class mail to the Paying Agent, the Rating Agencies, the Class R-I, Class R-II and REMIC III Certificateholders mailed no later than ten days prior to the date of such termination. Such notice shall specify (A) the Distribution Date upon which final distribution on the Class R-I, Class R-II and REMIC III Certificates will be made, and upon presentation and surrender of the Class R-I, Class R-II and REMIC III Certificates at the office or agency of the Certificate Registrar therein specified, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of the Class R-I, Class R-II and REMIC III Certificates at the office or agency of the Certificate Registrar therein specified. The Trustee shall give such notice to the Depositor and the Certificate Registrar at the time such notice is given to Holders of the Class R-I, Class R-II and REMIC III Certificates. Upon any such termination, the duties of the Certificate Registrar with respect to the Class R-I, Class R-II and REMIC III Certificates shall terminate and the Trustee shall terminate, or request the Master Servicer and the Paying Agent to terminate, the Certificate Account and the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Paying Agent's obligation hereunder to hold all amounts payable to the Class R-I, Class R-II and REMIC III Certificateholders in trust without interest pending such payment.

  • 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.

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

  • 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”):

  • Administration of Trust The Trustee shall administer the trust of the Indenture and shall perform a substantial part of its obligations relating to each series of Debt Securities and this Indenture at its corporate trust office in the City of New York.

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