Trust Group definition
Examples of Trust Group in a sentence
Northern Trust Corporation and its subsidiaries comprise the Northern Trust Group, one of the world’s leading providers of global custody and administration services to institutional and personal investors.
With respect to any Trust Group, the Supplemental Servicer may agree in its sole discretion to make a Supplemental Delinquency Advance in an amount greater than the Calculated Delinquency Advance provided for above.
The difference between the Supplemental Delinquency Advance paid by the Supplemental Servicer on any Monthly Remittance Date to a particular Trust Group and received by the Trustee and the total Delinquency Advance due under the Pooling Agreement for such Trust Group on such Monthly Remittance Date shall be paid by the Servicer as a Delinquency Advance (a "Servicer Delinquency Advance").
On each Monthly Remittance Date, the Supplemental Servicer shall, pursuant to the terms of this Section 2.02, pay in immediately available funds by wire transfer to the Certificate Account for each Trust the Supplemental Delinquency Advance due in respect of each Mandatory Trust Group and, if it elects to make such advance, the Supplemental Delinquency Advance (or portion thereof) due in respect of each Optional Trust Group.
For the avoidance of doubt, the reimbursement for Supplemental Delinquency Advances and Servicer Delinquency Advances made in respect of a particular Trust Group shall be from the Net Collections of such Trust Group and not on a loan-by-loan basis and no funds shall be remitted from the Principal and Interest Account to the Trustee for deposit into the Certificate Account to the extent that there are any Supplemental Delinquency Advances that have not been reimbursed.
If, for any reason, the cash flow through the Trust Group is insufficient to fund the Trust Group’s Administrative Expenses, the Trust Group will need to find other sources of financing.
Should the health insurance provisions (Group Benefit) contained in this Agreement and/or Health and Welfare Trust (Group Benefit) plan design cause the Employer to become subject to a penalty, fine or other assessable payment under the Patient Protection and Affordable Care Act or any related law or regulation, the Union and the Employer will immediately meet to bargain over a solution that does not increase the total cost to the Employer.
Unless otherwise designated by the Partnership by written notice to the Trustee and the Subsidiary Guarantors, such office or agency shall be the office of the Trustee in The City of New York, which on the date hereof is located at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: Corporate Trust Group.
Any inability of the Trust Group to fund its Administrative Expenses would adversely affect the Trust Group’s ability to continue as a going concern.
Each of the conditions set forth in Section 5.1 is for the benefit of Ashford Trust and the Ashford Trust Group, and the board of directors of Ashford Trust may, in its sole and absolute discretion, determine whether to waive any condition, in whole or in part.