Independent Trust Managers definition

Independent Trust Managers means the trust managers of the Company who are not affiliated with PMC Capital or its subsidiaries.
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Independent Trust Managers means Messrs. James Twaddell, J. Joseph Garrahy and Harold Gorman, the members of the Board who are neither employed by, nor affiliated with, the Grove Companies or Grove Property.
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Independent Trust Managers means the trust managers of the
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Examples of Independent Trust Managers in a sentence

  • Except for compensation received by the Investment Manager pursuant to Section 8 hereof, all commissions or other remuneration received by the Investment Manager or an Affiliate of the Investment Manager and not approved by the Independent Trust Managers under this Section 17 shall be reported to the Company annually within ninety (90) days following the end of the Company's fiscal year.

  • In addition, except as approved by a majority of the Independent Trust Managers, neither the Investment Manager nor any Affiliate of the Investment Manager shall receive any commission or other remuneration, directly or indirectly, in connection with the activities of the Company (except as expressly provided herein) or any joint venture or partnership in which the Company is a party, unless such joint venture or partnership is wholly-owned (directly or indirectly) by the Company.

  • Neither the Investment Manager nor any Affiliate of the Investment Manager shall sell any property or assets to the Company or purchase any property or assets from the Company, directly or indirectly, except as approved by a majority of the Independent Trust Managers, provided that any Person wholly-owned (directly or indirectly) by the Company may sell property or assets to the Company or purchase assets from the Company without such approval.

  • In the event that any trust manager should disagree, the matter shall be conclusively resolved by a majority of the trust managers of the Company, including a majority of the Independent Trust Managers.

  • Subsequent to the Closing Date (as defined herein), the affirmative vote of a majority of the Independent Trust Managers (even if they constitute less than a quorum of the Board) shall be required to approve the purchase by the Trust or its subsidiaries of any multifamily residential or mixed-use properties, the ownership of which is under the control, whether directly or indirectly, of Messrs.

  • Within 60 days after the end of any fiscal quarter in which Total Operating Expenses for the preceding twelve (12) months exceeded this limitation, the Trust will disclose this fact to the Shareholders, together with an explanation of the factors upon which the Independent Trust Managers relied in approving higher operating expenses.

  • Independent Trust Managers who are not members of the Committee are welcome to attend and participate in the meetings of the Committee unless otherwise specified by the Chairperson, but may not vote and will not, unless otherwise approved by the Lead Trust Manager, be compensated for participation in any such meeting.

  • At all times after the date of closing of the Initial Public Offering (as defined herein), the composition of the Board of Trust Managers shall consist of a majority of Independent Trust Managers.

  • The Trust Managers will limit operating expenses to these levels unless a majority of the Independent Trust Managers make a finding that, based on unusual or non-recurring factors, a higher level of expenses is justified for that year.

  • The affirmative vote of a majority of the Independent Trust Managers, even if they constitute less than a quorum, shall be required to approve any and all matters for which approval by the Board of Trust Managers is required by this Declaration of Trust.


More Definitions of Independent Trust Managers

Independent Trust Managers means any member of the REIT's Board of Trust Managers who is not an officer of the REIT or an affiliate of Grove Investment Group, Inc.
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Related to Independent Trust Managers

  • Independent Trustees means the members of the Fund’s Board of Trustees who are not "interested persons" (as defined in the 0000 Xxx) of the Fund and who have no direct or indirect financial interest in the operation of this Plan or in any agreement relating to this Plan.

  • Independent Trustee means a Trustee who is not an interested person within the meaning of Section 2(a)(19) of the Investment Company Act.

  • Independent Manager shall refer to a member of the Board that meets the standards of an “independent director” set forth in NASDAQ Marketplace Rule 4200(a)(15) (on any successor rule) with respect the Company, the Administrator and their respective affiliates. In the event a Special Committee is formed, the term “Independent Manager” shall, as the context requires, refer generically to each Independent Manager.

  • Independent Director/Trustee means any; (i) director or trustee of an Invesco Mutual Fund who is not an “interested person” (as defined in Section 2(a)(19) of the Investment Company Act) of an Invesco Mutual Fund; (ii) director or trustee of an Invesco ETP who is not an “interested person” (as defined in Section 2(a)(19) of the Investment Company Act) of an Invesco ETP; or (iii) member of the Invesco Canada Independent Review Committee, Invesco Canada Funds Advisory Board or Board of Directors of Invesco Corporate Class Inc. who has no other executive responsibilities or engagement in an Invesco Canada Fund or Invesco NA’s day-to-day activities beyond the scope of their duties as director/trustee.

  • Parent Trustees means the Trustees elected or appointed pursuant to Articles 53 – 56 inclusive;

  • Independent representative means a person who:

  • Independent Director/Trustee means any; (i) director or trustee of an Invesco Mutual Fund who is not an “interested person” (as defined in Section 2(a)(19) of the Investment Company Act) of an Invesco Mutual Fund; (ii) director or trustee of an Invesco ETP who is not an “interested person” (as defined in Section 2(a)(19) of the Investment Company Act) of an Invesco ETP; or (iii) member of the Invesco Canada Independent Review Committee, Invesco Canada Funds Advisory Board or Board of Directors of Invesco Corporate Class Inc. who has no other executive responsibilities or engagement in an Invesco Canada Fund or Invesco NA’s day-to-day activities beyond the scope of their duties as director/trustee.

  • Litigation Trustee means a Person to be determined by SFC and the Initial Consenting Noteholders prior to the Effective Time, with the consent of the Monitor, to serve as trustee of the Litigation Trust pursuant to and in accordance with the terms thereof.

  • Independent Committee means a committee of the board of directors of the General Partner made up of directors that are “independent” of Brookfield and its Affiliates, as contemplated by applicable securities Laws;

  • Liquidating Trustee has the meaning set forth in Section 6.2(a).

  • Independent Fiduciary means an independent fiduciary who will serve as a fiduciary to the Plan in accordance with Article 3 that has no relationship or interest in any of the Settling Parties and is mutually agreed to by the Settling Parties.

  • Independent Advisor means a reputable accounting, appraisal or nationally recognized investment banking, engineering or consulting firm (a) which does not, and whose directors, officers and employees or Affiliates do not, have a direct or indirect material financial interest in the Company and (b) which, in the judgment of the Board of Directors of the Company, is otherwise disinterested, independent and qualified to perform the task for which it is to be engaged.

  • Independent Manager Fee is defined in Section 4.01(a) of the LLC Agreement.

  • Liquidation Trustee means the trustee appointed jointly by the Debtors and the Creditors’ Committee, and identified in the Plan Supplement, to serve as the liquidation trustee under the Liquidation Trust Agreement, or any successor appointed in accordance with the terms of the Plan and Liquidation Trust Agreement.

  • Special Servicer Decision With respect to any Serviced Loan or Serviced Loan Combination, any of the following (to the extent it is not a Major Decision):

  • Independent Adviser means an independent financial institution of international repute or other independent financial adviser experienced in the international debt capital markets, in each case appointed by the Issuer at its own expense;

  • Controlling Noteholder Representative shall have the meaning assigned to such term in Section 6(a).

  • Corporate Administrator means, with respect to the Issuer, Deutsche International Corporate Services Limited whose registered office is at St. Paul's Gate, New Street, St. Helier, Jersey, JE4 8ZB, Channel Islands and any successor or replacement thereto.

  • Independent Fund Trustee means a trustee of the Trust who is not an “interested person” as that term is defined in Section 2(a)(19) of the 1940 Act.

  • NIM Trustee The trustee for the NIM Securities.

  • Outside Trustee With respect to an Outside Serviced Mortgage Loan, the trustee under the applicable Outside Servicing Agreement.

  • Management Committee means in the case of a Competition which is an unincorporated association, the management committee elected to manage the running of the Competition and where the Competition is incorporated it means the Board of Directors appointed in accordance with the articles of association of that company.

  • Delaware Trustee means, with respect to the Trust, the Person identified as the “Delaware Trustee” in the Trust Agreement, solely in its capacity as Delaware Trustee of the Trust under the Trust Agreement and not in its individual capacity, or its successor in interest in such capacity, or any successor Delaware Trustee appointed as therein provided.

  • Investment Committee means the committee in charge of investment aspects of the Plan, as described in Article VII.

  • Public Trustee means the public trustee within the meaning of the Public Trustee Act 1978.

  • Benchmark Administrator means, initially, the SOFR Administrator, or any successor administrator of the then-current Benchmark or any insolvency or resolution official with authority over such administrator.