Former Trustee definition
Examples of Former Trustee in a sentence
The Trustee hereby accepts appointment as successor trustee pursuant to Section 6.9 of the Base Indenture and shall become vested with all rights, powers, trusts and duties hereunder of the Former Trustee.
The New Trustee shall have no liability whatsoever for the acts or omissions of the Former Trustee.
Former Trustee Purporting to Act 14 5.1. Chair of Board 14 5.2. Term of Chair 14 5.3. Voting 14 5.4. Quorum 14 5.5. Decisions 15 5.6. Resolutions in Writing 15 5.7. Trustee Expenses and Remuneration 15 5.8. Frequency of Meetings 15 5.9. Notice of Meeting 15 5.10.
As of the Succession Date, the Former Trustee shall transfer, or arrange for the transfer of, all assets then held by it or subject to its control under the Trust to the New Trustee.
The parties recognize that the Former Trustee after the Succession Date may continue to receive, for an indeterminate period, income or other proceeds of the Trust estate.