Terms of the Trust Sample Clauses

Terms of the Trust. A. The terms of the Trust and the rights and obligations of the trustee of the Trust (the "Trustee") shall be set forth in a written Trust Agreement acceptable to the AmGam Committee, the AGRM Committee, AGEL and Shamrock. Any Trustee selected to serve must be acceptable to AGEL, Shamrock, and the designated representative (the "Representative") of the holders of AGRM and AmGam Unsecured Claims entitled to a distribution from the liquidating Trust.
Terms of the Trust. The order for distribution must incorporate the terms of the trust so as to give effect to the conditions existing at the time distribution is ordered. The pertinent provisions must be stated in the present tense and in the third person instead of quoting the will verbatim. (Subd (b) amended effective January 1, 2002.) Rule 7.650 amended effective January 1, 2002; adopted effective January 1, 2000. Rule 7.651. Description of property in petition for distribution (a) Property description A petition for distribution must list and describe in detail the property to be distributed, in the body of the petition or in an attachment that is incorporated in the petition by reference. If an account is filed with the petition, the description must be included in a schedule in the account. (b) Specific description requirements The description under (a) must:
Terms of the Trust. The trust document shall provide ------------------ that (i) the trust shall not be revoked or the principal thereof invaded without the written consent of the Indemnitee, (ii) the trustee shall advance, within ten business days of a request by the Indemnitee, any and all expenses to the Indemnitee (and the Indemnitee hereby agrees to reimburse the trust under the same circumstances for which the Indemnitee would be required to reimburse American Pacific under Section 4 of this Agreement), (iii) the trust shall continue to be funded by American Pacific in accordance with the funding obligation set forth above, (iv) the trustee shall promptly pay to the Indemnitee all amounts for which the Indemnitee shall be entitled to indemnification pursuant to this Agreement or otherwise, and (v) all unexpended funds in the trust shall revert to American Pacific upon a final determination by the Independent Counsel or a court of competent jurisdiction, as the case may be, that the Indemnitee has been fully indemnified under the terms of this Agreement. The trustee shall be chosen by the Indemnitee. Nothing in this Section 6(c) shall relieve American Pacific of any of its obligations under this Agreement. All income earned on the assets held in the trust shall be reported as income by American Pacific for federal, state, local, and foreign tax purposes. American Pacific shall pay all costs of establishing and maintaining the trust and shall indemnify the trustee against any and all expenses (including attorneys' fees), claims, liabilities, loss, and damages arising out of or relating to this Agreement or the establishment and maintenance of the trust.
Terms of the Trust. In 1996, A and A’s spouse, B, created an intervivos trust and each funded the trust with separately owned stock of an S corporation. Under the terms of the trust, A and B designated them- selves as the income beneficiaries and each, individually, retained the power to amend or revoke the trust with respect to the trust as- sets attributable to their respective trust contributions. Upon A’s death, the trust is to be divided into two separate parts; one part attributable to the assets A contributed to the trust and one part attributable to B’s contributions. Before the trust is divided, and during the administration of A’s estate, all trust income is payable to B. The part of the trust attributable to B’s contributions is to continue in trust under the terms of which B is designated as the sole income beneficiary and retains the power to amend or revoke the trust. The part attributable to A’s contributions is to be divided into two separate trusts both of which have B as the sole income beneficiary for life. One trust, the Credit Shelter Trust, is to be funded with an amount that can pass free of estate tax by reason of A’s available estate tax unified credit. The terms of the Credit Shelter Trust meet the requirements of section 1361(d)(3) as a QSST. The balance of the property passes to a Marital Trust, the terms of which sat- isfy the requirements of section 1361(d)(3) as a QSST and section 2056(b)(7) as QTIP. The appropriate fiduciary under § 20.2056(b)– 7(b)(3) is directed to make an election under section 2056(b)(7).
Terms of the Trust. If the terms of the trust specify the trustee’s compensation, the trustee is entitled to such compensation, but it may be adjusted by the court. F.S. §736.0708(2).

Related to Terms of the Trust

  • Establishment of the Trust The Depositor does hereby establish, pursuant to the further provisions of this Agreement and the laws of the State of New York, an express trust to be known, for convenience, as “Deutsche Alt-A Securities Mortgage Loan Trust, Series 2006-AR5” and does hereby appoint HSBC Bank USA, National Association as Trustee in accordance with the provisions of this Agreement.

  • Creation of the Trust The Trust is hereby created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 2003-AR3 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement: