Trusteeship Clause Samples
The Trusteeship clause establishes the appointment and responsibilities of a trustee to hold and manage assets or property on behalf of beneficiaries. In practice, this clause outlines the trustee's powers, duties, and limitations, such as investing trust assets, distributing income, or making decisions in the best interests of the beneficiaries. Its core function is to ensure that assets are managed prudently and according to the terms of the trust, thereby protecting the interests of the beneficiaries and providing a clear framework for asset administration.
Trusteeship. The Chargor declares that:
(a) as and when the security created by this Deed shall become enforceable, it will hold all the Charged Assets (subject to the Chargor’s right of redemption) upon trust to convey, assign, transfer or otherwise dispose of or deal with the same in such manner and to such person as the Lender shall direct; and
(b) it shall be lawful for the Lender to appoint new trustees of the Charged Assets from time to time in place of the Chargor or in place of any trustee appointed under this power.
Trusteeship. The Company declares that, as and when the security created by this Debenture shall become enforceable, it will hold all the Charged Assets (subject to the Company's right of redemption) upon trust to convey, assign, transfer or otherwise dispose of or deal with the same in such manner and to such person as the Bank shall direct, and declares that it shall be lawful for the Bank to appoint new trustees of the Charged Assets, or any part thereof, from time to time in place of the Company or in place of any trustee appointed under this power.
Trusteeship. In the event of a consent required under § 7.1 is not obtained or such consent is withheld, in relations with third parties, the Seller shall remain owner of the relevant Purchased Assets and contractual party in the relevant Assumed Contracts but, in its internal relations with the Purchaser, the Seller shall own or hold the relevant Purchased Assets or fulfil the relevant Assumed Contracts subject to the instructions by and for the account of the Purchaser. To this end – to the extent permitted – the Seller shall conclude any sub-licences, sub-rentals or sub-contractor agreements and enforce any rights due under the Purchased Assets or Assumed Contracts. Wherever necessary, the Seller shall ▇▇▇▇▇ ▇▇▇▇▇▇ of attorney and/or class action declarations to the Purchaser, such that the Purchaser can also pursue rights and claims in its own name. This does not apply to employment relationships, the transfer of which to the Purchaser has been rejected by the employee in accordance with § 613a paragraph 6 BGB.
Trusteeship. This information has been gathered on behalf of BC taxpayers and paid for by them, and BC Assessment as custodian of this government information has a trusteeship type role in determining how best to make it available for uses beyond its core use of supporting property taxation.
Trusteeship. Pursuant to Section 107(f)(2)(B) of CERCLA, as amended, 42 U.S.C. §9607(f)(2)(A); Executive Order No. 12580 (January 23, 1987); and Subpart G of the NCP, 40 C.F.R. Part 300.600, the Secretaries of the United States Department of the Interior and the United States Department of Commerce have been designated as Federal natural resource trustees for purposes of CERCLA, and otherwise have statutory responsibilities related to the natural resources injured, destroyed, or lost as a result of the release of hazardous substances at the Site. The Secretary of the Interior has designated the Regional Director, United States Fish and Wildlife Service, Region 5, to act as the Authorized Official, and has delegated to the Regional Director authority to act as natural resource trustee under CERCLA for natural resource damages and restoration activities related to the Site. The Secretary of Commerce has delegated the Department’s natural resource trustee authority under CERCLA to the Under Secretary of Oceans and Atmosphere of NOAA. The Commissioner of the NJDEP is the Natural Resource Trustee charged with administering and protecting the State’s natural resources, and the NJDEP Office of Natural Resource Restoration represents the Commissioner in this capacity.
Trusteeship. Upon the first visit to the safe-deposit box after the lessee has been signed a guardian or a trusteeship authorisation has been confirmed by virtue of authorisation by the lessee upon the authorised person’s application, the contents of the safe-deposit box shall be listed in a record in the manner laid down in clause 5.2.1.
Trusteeship. Any Trustee may resign upon 30 days written notice to the Trustor. The Trustor may remove any Trustee upon 30 days written notice to the Trustee. In the case of the resignation, refusal, removal or inability to act of a Trustee, the Trustor shall appoint a successor Trustee with written notice to the California Department of Insurance; provided, however, that no entity shall become a successor Trustee until it has been approved in writing by the California Department of Insurance. Each Trustee shall be responsible only for its own acts or omissions, and shall not be required to audit the acts of any predecessor.
Trusteeship. As per the responsibility of your role as defined by the GU Constitution, your election to office includes your election to the GU Board of Trustees for the period to which you will hold office (as defined in this contract). Because your employment will involve being a trustee of the GU, you may not take up this post if you are disqualified from being a Charity trustee in England. If you are found to have misrepresented yourself regarding your eligibility, or if you are disqualified during the operation of your contract, the CUSU Board of Trustees may end your employment immediately. You are obliged to notify the GU Board of Trustees and the CUSU Board of Trustees immediately should you be disqualified during the operation of this contract. As part of this agreement, and prior to you taking office, this post requires an enhanced Disclosure and Barring Scheme (DBS) check. All convictions (spent or otherwise) must be declared. You may not take up this post without signing in agreement to a Trustee Declaration as provided by the GU Board of Trustees. Your trusteeship is subject to Clauses 1, 3, 4 and 9 of this contract. You are a Trustee of the GU until this contract expires or is terminated. You must take reasonable precautions to ensure that the actions of the GU, in particular those relating to its expenditure, are legal, and you will exercise such due diligence as is necessary to familiarise yourself with the obligations of a Charity Trustee.
Trusteeship. After the Separation Date, Executive shall continue to serve as non-Executive Chairman of the Board of Trustees in a non-employee capacity, subject to his continued election to the Board of Trustees by the shareholders and his continued election or appointment by the Board of Trustees to the role of non-Executive Chairman. Beginning on July 8, 2016 and for as long as Executive serves as non-Executive Chairman of the Board of Trustees, Executive shall receive an annual retainer fee of $100,000 for his service in that role and be eligible for any other compensatory benefits generally available to Trustees. In the event Executive is elected to serve as a Trustee, but not as non-Executive Chairman, he shall be entitled to the compensation and benefits generally available to Trustees.
Trusteeship. Infineon and Qimonda agree that Infineon will hold the shares as a trustee on behalf of and for the account of Qimonda as of the date of effectiveness or the date of Retransfer as the case may be.