Nevada Trust definition
Examples of Nevada Trust in a sentence
For the avoidance of doubt, the nominees of the Multistate Trust, the Nevada Trust, and the Tort Claims Trust shall have fiduciary duties only to the beneficiaries of the Multistate Trust, the Nevada Trust, and the Tort Claims Trust, respectively.
Two members shall be deemed to have been recommended to the Bankruptcy Court for appointment jointly by the United States and the Beneficiaries other than the Multistate Trust, the Nevada Trust, and the Tort Claims Trust, and one member shall be deemed to have been recommended to the Bankruptcy Court for appointment by each of the Multistate Trust, the Nevada Trust, and the Tort Claims Trust, in each case as indicated on the attached Schedule 2.
Bangs Title: Senior Vice President and General Counsel Neiman Marcus Special Events, Inc., NM Financial Services, Inc., NM Kitchens, Inc., ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, LLC, Bergdorf ▇▇▇▇▇▇▇, Inc., Bergdorf Graphics, Inc., Neiman Marcus Holdings, Inc., NEMA Beverage Corporation, NEMA Beverage Holding Corporation, NEMA Beverage Parent Corporation, Worth Avenue Leasing Company, NMGP, LLC, NM Nevada Trust, By: /s/ ▇▇▇▇▇▇ ▇.
However, only the Nevada Trustee shall have a first-priority lien on and security interest in the Nevada Trust Administrative Account and only the United States and Nevada shall have a first-priority lien on and security interest in the Nevada Trust Environmental Cost Account.
The Nevada Trust Agreement shall not be subject to any provision of the Uniform Custodial Trust Act as adopted by any state, now or in the future.
On the Effective Date, the Nevada Trust shall become the legal successor-in-interest to certain rights under the Henderson Chartis Policy and the BMI Chartis Policy and shall succeed to all of Settlors’ right, title and interest in claims, proceeds, and recoveries against the Henderson Chartis Policy and the BMI Chartis Policy.
The first budget for the remainder of the current calendar year and the next calendar year shall be submitted within ninety (90) days following the Effective Date and annual budgets shall be submitted thereafter on or before each January 30 during the term of the Nevada Trust.
On the Effective Date, the Nevada Trust shall enter into the Henderson Facility Lease and Tronox Incorporated shall execute and deliver to the Henderson Trust an irrevocable and unconditional guaranty of the observance and performance of Tenant’s obligations under (i) the Henderson Facility Lease and (ii) the Settlement Agreement as its obligations pertain to the Henderson Leased Facility, in form and substance reasonably satisfactory to Tronox Incorporated and the Henderson Trust.
The Nevada Trust shall regularly, but not less often than annually, and otherwise upon the reasonable request of the United States or Nevada, provide documentation to the United States and Nevada to substantiate compliance with the applicable approved budget and application of Nevada Trust Assets consistently with the terms of the Agreement and the Settlement Agreement.
In connection with the administration of the Nevada Trust, except as otherwise set forth in the Agreement or the Settlement Agreement, the Nevada Trustee is authorized to perform any and all acts necessary to accomplish the purposes of the Nevada Trust.