Trusts. 24.1 If the Client at any time upon or subsequent to entering in to the Contract is acting in the capacity of trustee of any trust (“Trust”) then whether or not the Contractor may have notice of the Trust, the Client covenants with the Contractor as follows:
Trusts. In the case of a trust, the authorized trustee should date, sign, and complete the Subscription Agreement with information concerning the trust. The trustee should print the name of the trust above his signature, and print his name and the word "trustee" below his signature. In addition, an authorized trustee should also provide information requested in the Subscription Agreement as it pertains to him as an individual.
Trusts. (a) In order to ensure in the event of a Change of Control that timely payment will be made of certain obligations of the Company to the Executive provided for under this Agreement, the Company shall, immediately prior to or in connection with the consummation of a Change of Control, irrespective of whether the Change of Control constitutes a “change in ownership or effective control” or a change in the “ownership of a substantial portion of the assets” under Section 409A of the Code, and the rulings and regulations issued thereunder, pay into one or more trust(s) (the “Trust(s)”) established between the Company and any financial institution with assets in excess of $100 million selected by the Company prior to the Change of Control, as trustee (the “Trustee”), such amounts and at such time or times as are required in order to fully pay all cash amounts due the Executive hereunder that are payable or as are otherwise required pursuant to the terms of the Trust(s), with payment to be made in cash or cash equivalents. Thereafter, all such payments required to be paid hereunder shall be made out of the Trust(s); provided, however, that the Company shall retain liability for and pay the Executive any amounts or provide for such other benefits due the Executive under this Agreement for which there are insufficient funds in the Trust(s), for which no funding of the Trust(s) is required or in the event that the Trustee fails to make such payment to the Executive within the time frames set forth in this Agreement. Prior to the Change of Control, and to the extent necessary because of a change in the Trustee, after the Change of Control, the Company shall provide the Executive with the name and address of the Trustee. Nothing in this Agreement shall require the Company to maintain the funding required in this section beyond the second anniversary of a Change of Control unless, before such second anniversary, the Executive’s employment has terminated in a manner qualifying him for benefits hereunder. The Executive expressly waives any requirement under this Section 6 or otherwise for the Company to fund the Trust(s) if funding would cause him to be taxed under Section 409A(b) of the Code or any successor law.
Trusts. (a) The Security Agent shall hold the benefit of this Deed upon trust for itself and the other relevant Secured Parties.
Trusts. 5.1 Notarised (or certified as in 1.1) copy of, or original Trust Deeds;
Trusts. If applicable, for purposes of this Agreement, the Company Shareholder with respect to any Owned Shares held in trust shall be deemed to be the relevant trust and/or the trustees thereof acting in their capacities as such trustees, in each case as the context may require, including for purposes of such trustees’ representations and warranties as to the proper organization of the trust, their power and authority as trustees and the non-contravention of the trust’s governing instruments.
Trusts. If the Equityholder is the beneficial owner of any Subject Units held in trust, no consent of any beneficiary of such trust is required in connection with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby or by the Merger Agreement.
Trusts. If applicable, for purposes of this Agreement, the Equityholder with respect to any Subject Securities held in trust shall be deemed to be the relevant trust and/or the trustees thereof acting in their capacities as such trustees, in each case as the context may require, including for purposes of such trustees’ representations and warranties as to the proper organization of the trust, their power and authority as trustees and the non-contravention of the trust’s governing instruments.
Trusts. Does the trust meet the following tests:
Trusts. This clause applies if you enter into the contract for your loan as trustee of a trust whether we know about the trust or not. You agree that you are liable both in your own right and as trustee of the trust. You declare or undertake to us that: • you enter into the contract for your loan for a proper purpose of the trust; • you have the power and authority under the trust to enter into the contract for your loan and, if the security is over the property of the trust, to mortgage the trust property; • you have the right to be indemnified fully out of the trust property, before the beneficiaries of the trust, for all liabilities that you incur under the contract for your loan; • you are the only trustee of the trust and no steps have been taken to remove you as trustee of the trust; • you are not in default under the terms of the trust; • you have told us about each trust of which you are a trustee; • you have given us a copy of all terms that apply to the trust; • the trust deed establishing the trust will not be amended without our prior consent; • you will not resign or be removed as trustee of the trust without our prior consent; • the trust has not vested; • you will not take action to terminate the trust without our prior consent; • no distribution of any capital of the trust will be effected without our prior consent; and • if the trust is a unit trust, no units will be redeemed without our prior consent. You must tell us immediately if, at any time, anything happens that would prevent you from truthfully repeating the declarations or giving the undertakings in this clause.
