BR Trust definition

BR Trust means BR Trust, a trust organized under the laws of the Bailiwick of Guernsey.
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Examples of BR Trust in a sentence

  • The Trustee shall not be authorized or empowered to do anything that would cause the Class B(R) Trust to fail to qualify as a grantor trust for such tax purposes (including as subject to this restriction, acquiring any Aircraft by bidding the Equipment Notes relating thereto or otherwise, or taking any action with respect to any such Aircraft once acquired).

  • The provisions of this Section 2.01 supersede and replace the provisions of Section 2.03 of the Basic Agreement, with respect to the Class B(R) Trust.

  • All Class B(R) Certificates issued upon any registration of transfer or exchange of Class B(R) Certificates shall be valid obligations of the Class B(R) Trust, evidencing the same interest therein, and entitled to the same benefits under the Agreement, as the Class B(R) Certificates surrendered upon such registration of transfer or exchange.

  • The parties hereto intend that the Class B(R) Trust be classified for United States federal income tax purposes as a grantor trust under Subpart E, Part I, Subchapter J, Chapter 1 of Subtitle A of the Code, and not as a trust or association taxable as a corporation or as a partnership.

  • The provisions of this Section 7.01(b) supersede and replace the last sentence of Section 2.02(a) of the Basic Agreement and the provisions of Section 2.02(b) of the Basic Agreement with respect to the Class B(R) Trust, and no provisions of the Basic Agreement relating to Postponed Notes and Section 2.02(b) of the Basic Agreement shall apply to the Class B(R) Trust.

  • The Registrar and the Trustee may treat the Person in whose name any Class B(R) Certificate is registered as the sole owner of the beneficial interest in the Class B(R) Trust evidenced by such Class B(R) Certificate.

  • The Trustee hereby declares the creation of a Trust, designated the “Spirit Airlines Pass Through Trust 2025-1B(R)” (the “Class B(R) Trust”), for the benefit of the Holders of the Class B(R) Certificates to be issued in respect of such Class B(R) Trust, and the initial Holders of the Class B(R) Certificates, as grantors of such Class B(R) Trust, by their respective acceptances of the Class B(R) Certificates, join in the creation of such Class B(R) Trust with the Trustee.

  • The Class B(R) Certificates shall be the only instruments evidencing a Fractional Undivided Interest in the Class B(R) Trust.

  • Each Class B(R) Certificate represents a Fractional Undivided Interest in the Class B(R) Trust created hereby.

  • The Class B(R) Trust may only engage in the transactions contemplated by the Operative Agreements, subject to Section 10.05 of this Trust Supplement.