Primary Trustee definition
Examples of Primary Trustee in a sentence
Pending the appointment of a replacement Primary Trustee, the alternate Trustee shall be entitled to attend and vote at meetings as provided in subsection (e).
An alternate Trustee cannot sign a resolution in writing on behalf of his or her Primary Trustee.
This limitation of a Primary Trustee’s liability applies despite any other provision of this Trust Deed (except clause 2.3) and extends to all liabilities and obligations of that Primary Trustee in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this Trust Deed.
A liability arising under or in connection with this Trust Deed can be enforced against a Primary Trustee only to the extent to which it can be satisfied out of property of the Primary Trust out of which that Primary Trustee is actually indemnified for the liability.
Each Trustee shall also designate an Alternate Trustee Representative who shall be authorized to act, and vote, in the absence of the Primary Trustee Representative.
The Primary Trustee may designate from time to time a formal advisor to the Mesquite Senior Services Sub-Trust, which advisor shall make distribution recommendations to the Primary Trustee and perform such other duties or make such other recommendations as requested by the Primary Trustee.
Within ten (10) days of the execution of this Agreement, each Trustee, as specified under Section ill, shall designate a Primary Trustee Representative to the ▇▇▇▇▇▇▇▇ Transporation Co., Inc.
The Trustor hereby incorporates this trust management and source of payment with the Trustee, through the transmission to the Primary Trustee of the Initial Contribution and the Trusted Series B Shares, for which the Trustor and Trustee have carried out all necessary acts to formalize their contributions.
The Primary Trustee or any other designated trustee of the Mesquite Senior Services Sub- Trust shall determine the amount and frequency of any distribution from this Sub-Trust and any terms and conditions associated with any such distribution, provided that such distributions are consistent with the proposes of the Mesquite Senior Services Sub-Trust detailed above in Section B.
Upon the resignation of any such trustee or other vacancy in the office of trustee of the Mesquite Senior Services Sub-Trust, the Primary Trustee shall serve as trustee.