Trust Act definition
Examples of Trust Act in a sentence
It is the intention of the parties hereto that the Trust shall be a statutory trust, under the Trust Act and that this Agreement shall constitute the governing instrument of the Trust.
Except to the extent expressly set forth in this Article 4, the duty and authority to manage the affairs of the Trust is vested in the Sponsor, which duty and authority the Sponsor may further delegate as provided herein, all pursuant to Section 3806(b)(7) of the Trust Act.
The Trust’s purpose is to engage in the transaction of any and all lawful businesses and activities that a statutory trust may carry on under the Trust Act and the laws of any other jurisdiction in which the Trust is so engaged, including, without limitation, investing in Portfolio Crypto Assets that track the Index and any business or activities incidental thereto or in support thereof.
Pursuant to Section 3806(b)(7) of the Trust Act, the Trust shall be managed by the Sponsor in accordance with this Agreement.
Each Fund is a series of the Trust, and the parties hereto acknowledge that each series established under the Trust has the power and authority under the Delaware Statutory Trust Act and the Declaration of Trust of the Trust to enter into contractual arrangements solely in the name of such series and undertake obligations or liabilities separate and apart from the obligations or liabilities of any other series of the Trust or the Trust generally.