THE SUB-TRUST PROTECTOR Sample Clauses

THE SUB-TRUST PROTECTOR. (1) A separate Sub-trust Protector may be appointed of any part of the Trust Fund held on distinct trusts and the provisions of this Settlement concerning the Sub-trust Protector shall apply separately to each such part of the Trust Fund save that the power in clause 5(1) of this Settlement shall be subject to the consent of the Settlor. (2) The person named as the Specified Beneficiary in a deed of appointment creating a sub-trust under this Settlement, otherwise the Trustees of any part of the Trust Fund held on distinct trusts, shall have power by deed to appoint any person or body of persons in any part of the world not being or including any of the Trustees to act as Sub-trust Protector for the purpose of such part of the Trust Fund. (3) If a Sub-trust Protector for the time being of a part of the Trust Fund dies or being a corporation is dissolved or is unable or unwilling to act or wishes to retire ("the Outgoing Sub-trust Protector"): (a) the person named as the Specified Beneficiary in a deed of appointment creating a sub-trust under this Settlement, otherwise the Trustees of any distinct trusts; or in default (b) such person or persons, being Beneficiaries of the sub-trust created by a deed of appointment, as may be named by the Specified Beneficiary of that sub-trust; or in default (c) the Outgoing Sub-trust Protector (provided that he is willing to do so and not suffering any incapacity affecting judgement); or (d) if there is no Sub-trust Protector able and willing to act the Trustees for the time being of this Settlement may appoint any person or body of persons not being or including a Trustee to act as the Sub-trust Protector for the purposes of this Settlement in place of such Sub-trust Protector. There shall be no power (save as set out above and subject to the powers of a court of competent jurisdiction) to remove the Sub-trust Protector. (5) Any power or discretion made subject to the consent of the Sub-trust Protector shall be exercisable free from the requirement if and so long as there is no Sub-trust Protector. (6) Any Sub-trust Protector (other than any of the Excluded Persons) who is engaged in any profession or business may charge and be paid all professional and other proper charges for work done services rendered advice given or time spent by him or his firm in connection with this Settlement whether or not within the scope of his profession or business and though not of a nature requiring the employment of a
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Related to THE SUB-TRUST PROTECTOR

  • Successor Owner Trustees and Additional Owner Trustees SECTION 9.1. Eligibility Requirements for Owner Trustee.....................19 SECTION 9.2. Resignation or Removal of Owner Trustee........................20 SECTION 9.3. Successor Owner Trustee........................................20 SECTION 9.4. Merger or Consolidation of Owner Trustee.......................21 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee..................21 ARTICLE X.MISCELLANEOUS

  • Delaware Trustee The name and business address of the trustee of the Trust in the State of Delaware is Wilmington Trust Company, ▇▇▇▇▇▇ Square North, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇.

  • The Owner Trustee It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by Wilmington Trust, National Association on behalf of the Trust not individually or personally but solely as owner trustee of the Trust under the Trust Agreement of the Trust dated the date hereof in the exercise of the powers and authority conferred upon and vested in Wilmington Trust, National Association as owner trustee of the Trust under such Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as the personal representation, undertaking or agreement of Wilmington Trust, National Association, but is made and intended for the purpose of binding only the Trust and (iii) nothing herein contained shall be construed as creating any liability on the part of Wilmington Trust, National Association, individually or personally, to perform any covenant or obligation of the Trust, either expressed or implied, contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto.

  • Eligibility Requirements for Owner Trustee and Delaware Trustee The Owner Trustee shall at all times (i) maintain its principal place of business in the State of New York or such other location within the United States to which the Depositor shall consent in writing, (ii) be authorized to exercise corporate trust powers, (iii) have a combined capital and surplus of at least $50,000,000, (iv) be subject to supervision or examination by federal or state authorities and (v) have the Required Rating. If such person shall publish reports of condition at least annually pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Delaware Trustee shall at all times be a Person satisfying the provisions of Section 3807(a) of the Statutory Trust Statute. In case at any time the Owner Trustee or the Delaware Trustee, as applicable, shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee or the Delaware Trustee, as applicable, shall resign immediately in the manner and with the effect specified in Section 10.02.

  • Appointment of Owner Trustee The Depositor hereby appoints the Owner Trustee as trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth herein.