Morris Trust definition
Morris Trust vehicle or reverse "Morris Trust" vehicle.
Business trust means a trust created for the purpose of making a profit through the combination of capital contributed by the beneficiaries of the trust and through the administration or management of the capital by trustees or a person acting on behalf of the trustees, for the benefit of the beneficiaries;
First trust means a trust over which an authorized fiduciary may exercise the decanting power.
National City National City Mortgage Co., or any successor thereto.
PFPC Trust means PFPC Trust Company or a subsidiary or affiliate of PFPC Trust Company.
Sub-Trust has the meaning set forth in Section 3.01(b) of the Titling Trust Agreement.