Trustee Qualifications Sample Clauses

The Trustee Qualifications clause defines the specific requirements and standards an individual or entity must meet to serve as a trustee. Typically, this clause outlines criteria such as age, residency, professional experience, or the absence of conflicts of interest, and may exclude certain categories like minors or individuals with criminal convictions. By establishing clear eligibility rules, the clause ensures that only suitable and trustworthy parties are appointed, thereby protecting the interests of beneficiaries and maintaining the integrity of the trust.
Trustee Qualifications. Except to the extent that such requirements are waived by a majority of the Continuing Trustees then in office at the time of the nomination of such Trustee, only persons satisfying the following qualification requirements may be nominated, elected, appointed, qualified or seated (“nominated or seated”) to serve as Trustees: (A) An individual nominated or seated as a Trustee shall be at least twenty-one years of age and not older than the mandatory retirement age determined from time to time by the Trustees or a committee of the Trustees, in each case at the time the individual is nominated or seated. (B) An individual nominated or seated as a Trustee shall, at the time the individual is nominated or seated, serve as a trustee or director of no more than 5 investment companies (including the Trust) having securities registered under the Exchange Act (investment companies or individual series thereof having the same investment adviser or investment advisers affiliated through a control relationship shall all be counted as a single company for this purpose). (C) An individual nominated or seated as a Trustee shall not serve or have served within the past 3 years as a trustee of any closed-end investment company which, while such individual was serving as a trustee or within one year after the end of such service, ceased to be a closed-end investment company registered under the 1940 Act, unless such individual was initially nominated for election as a trustee by the board of trustees of such closed-end investment company or had served as a trustee since the inception of such closed-end investment company. (D) Except as set forth in this Section 4.6, an individual nominated or seated as a Trustee shall not be an employee, officer, partner, member, trustee, director or 5% or greater shareholder in any investment adviser (other than the Trust’s investment adviser or any investment adviser affiliated with the Trust’s investment adviser), collective investment vehicle primarily engaged in the business of investing in “investment securities” (as defined in the 1940 Act) (an “investment company”) or entity controlling or controlled by any investment adviser (other than the Trust’s investment adviser or any investment adviser affiliated with the Trust’s investment adviser) or investment company. (E) An individual nominated or seated as a Trustee shall not be and shall not have been subject to any censure, order, consent decree (including consent decrees in which the...
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Trustee Qualifications. (a) An individual who is an Affiliated Person of any: (1) Investment Adviser (other than the Trust’s Investment Adviser or any Investment Adviser affiliated with the Trust’s Investment Adviser); (2) Pooled Vehicle (other than a Pooled Vehicle advised or managed by the Trust’s Investment Adviser or any Investment Adviser affiliated with the Trust’s Investment Adviser); or (3) Entity Controlling, Controlled by, or under common Control with, any Investment Adviser (other than the Trust’s Investment Adviser or any Investment Adviser affiliated with the Trust’s Investment Adviser) or Pooled Vehicle (other than a Pooled Vehicle advised or managed by the Trust’s Investment Adviser or any Investment Adviser affiliated with the Trust’s Investment Adviser); shall be disqualified from being nominated or serving as a Trustee, if the Board determines by Majority Trustee Vote (excluding the vote of any Trustee subject to such vote) that such relationship is reasonably likely to: (1) Present undue conflicts of interest between (i) the Trust and its shareholders, and (ii) such other Investment Adviser or Pooled Vehicle; (2) Impede the ability of the individual to discharge the duties of a Trustee; and/or (3) Impede the free flow of information (including proprietary, non-public or confidential information) between the Trust’s Investment Adviser and the Board of Trustees. (b) An individual who: (1) Is a 12(d) Control Person; (2) Is an Affiliated Person of a 12(d) Holder or 12(d) Control Person; or (3) Has accepted directly or indirectly any consulting, advisory, or other compensatory fee from any 12(d) Holder or 12
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Trustee Qualifications. For purposes of this Section 8, “AFFILIATED PERSON,” “CONTROL,” “INTERESTED PERSON” and “PRINCIPAL UNDERWRITER” have the meanings ascribed in Section 2 of the 1940 Act; and “INVESTMENT ADVISER” has the meaning ascribed in Section 202(a)(11) of the Advisers Act. (a) An individual who is an Affiliated Person of any: (i) Investment Adviser (other than the Trust’s Investment Adviser or any Investment Adviser affiliated with the Trust’s Investment Adviser); (ii) Pooled Vehicle (other than a Pooled Vehicle advised or managed by the Trust’s Investment Adviser or any Investment Adviser affiliated with the Trust’s Investment Adviser); or (iii) Entity Controlling, Controlled by, or under common Control with, any Investment Adviser (other than the Trust’s Investment Adviser or any Investment Adviser affiliated with the Trust’s Investment Adviser) or Pooled Vehicle (other than a Pooled Vehicle advised or managed by the Trust’s Investment Adviser or any Investment Adviser affiliated with the Trust’s Investment Adviser); shall be disqualified from being nominated or serving as a Trustee, if the Board determines by a vote of a majority of the Trustees (excluding the vote of any Trustee subject to such vote) that such relationship is reasonably likely to: (i) Present undue conflicts of interest between (i) the Trust and its shareholders, and (ii) such other Investment Adviser or Pooled Vehicle; (ii) Impede the ability of the individual to discharge the duties of a Trustee; and/or (iii) Impede the free flow of information (including proprietary, non-public or confidential information) between the Trust’s Investment Adviser and the Board of Trustees. (b) An individual who: (i) Is a 12(d) Control Person; (ii) Is an Affiliated Person of a 12(d) Holder or 12(d) Control Person; or
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Trustee Qualifications. The qualifications to serve as a Trustee and the terms of office for Trustees shall be specified in the bylaws of GlRMA.
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Trustee Qualifications. At all times there shall be one Trustee serving hereunder, who shall be an individual residing in, or a bank or trust company with offices in, the jurisdiction which is the situs of the Trust. The Enforcer shall promptly appoint a successor Trustee upon the Trustee’s resignation, removal, disqualification or other failure to serve. Notwithstanding any other provision herein, at no time may the Grantor, or any person who is a related or subordinate party, within the meaning of Section 672(c) of the Code, with respect to the Grantor, serve as Trustee of the Trust.
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Trustee Qualifications. The Trustee must be a bank or trust company and must be a member of the Federal Reserve System of the United States of America. The Trustee may not be a parent, subsidiary or affiliate of either the Grantor or Beneficiary.
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Trustee Qualifications. The Trustee, and each Replacement Trustee, is required at all times to be a trust company duly incorporated, validly existing and licensed and authorized to carry on business as a trustee in the Province of Saskatchewan, with the corporate power and authority to administer the Trust and the Trust Property in accordance with the provisions of this Agreement, and with assets under management of at least $500 million. If at any point the Trustee fails to meet such requirements, the Trustee shall immediately notify Council of the same, and Council shall remove the Trustee by way of a Band Council Resolution and appoint a Replacement Trustee in accordance with Section 14.6.
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Related to Trustee Qualifications

  • Due Qualification Seller is duly qualified to do business as a foreign corporation, is in good standing, and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its property or the conduct of its business requires such qualification.

  • Existence, Qualification and Power Each Loan Party and each Subsidiary thereof (a) is duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, and (c) is duly qualified and is licensed and, as applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.