Trust Interest definition

Trust Interest means an account owner's interest in the trust created by a participating trust

Trust Interest means the right to receive, on each Payment Date, distributions of the amounts, if any, released to the Issuer pursuant to Section 8.02(d) of the Indenture or pursuant to Section 2.05 of the Servicing Agreement.

Trust Interest means the interest of a beneficiary in an irrevocable express trust (other than an employee benefit plan) created either by written trust instrument or by statute, but does not include any interest retained by the settlor.

Examples of Trust Interest in a sentence

• Each holder of a Litigation Trust Interest shall take and hold its uncertificated beneficial interest subject to all of the terms and provisions of this Litigation Trust Agreement, the Confirmation Order, and the Plan.

• The interest of a holder of a Litigation Trust Interest is in all respects personal property, and upon the death, insolvency or incapacity of an individual holder of a Litigation Trust Interest, such holder’s interest shall pass to the legal representative of such holder of a Litigation Trust Interest and such death, insolvency or incapacity shall not terminate or affect the validity of this Litigation Trust Agreement.

• A holder of a Litigation Trust Interest shall have no title to, right to, possession of, management of, or control of, the Trust Property except as herein expressly provided.

• If to a holder of a Litigation Trust Interest: To the name and address set forth on the registry maintained by the Trustee.

• No surviving spouse, heir or devisee of any deceased holder of a Litigation Trust Interest shall have any right of dower, homestead, or inheritance, or of partition, or any other right, statutory or otherwise, in the Trust Property, but the whole title to all the Trust Property shall be vested in the Litigation Trust and the sole interest of the holders of Litigation Trust Interests shall be the rights and benefits given to such persons under this Litigation Trust Agreement.

More Definitions of Trust Interest

Trust Interest means an account owner's interest in the fund

Trust Interest means an account owner’s interest in the trust created by a participating trust agreement and held for the benefit of a designated beneficiary.

Trust Interest means a pro rata beneficial interest in the Trust.

Trust Interest means the trust interests of the Company as provided for and described in the LLC Agreement.

Trust Interest means an account owner's interest in the trust created by a participation

Trust Interest means a pro rata beneficial interest in the Trust. DISTRIBUTION RETURN AGREEMENT Date: Simon Property Group, L.P. National City Center 000 Xxxx Xxxxxxxxxx Xxxxxx, Xxxxx 00 Xxxx Xxxxxxxxxxxx, Xxxxxxx 00000 Dear Sirs: The undersigned is a holder of 7.00% Cumulative Convertible Preferred Units (“Preferred Units”) of Simon Property Group, L.P., a Delaware limited liability (the “Operating Partnership”). On the date hereof, the undersigned has presented to the Operating Partnership (number) Preferred Units (the “Tendered Units”) for (a) redemption (the “Redemption”); (b) conversion (the “Conversion”) or (c) repurchase (the “Repurchase”) pursuant to their terms. This letter agreement is being given in satisfaction of a condition to the Redemption, Conversion, or Repurchase, as applicable, of the Tendered Units. The undersigned hereby agrees with the Operating Partnership that, in the event the undersigned receives any payment or distribution with respect to Tendered Units after their Redemption, Conversion, or Repurchase, as applicable, other than a payment or distribution required to be made in connection therewith, the undersigned will promptly remit such payment or distribution back to the Operating Partnership. In furtherance of the foregoing, the undersigned further grants to the Operating Partnership the right to set off against any unpaid amount due to the Operating Partnership under this letter agreement any debt or other obligation of the Operating Partnership owing to the undersigned, including, without limitation, any dividend or other distribution payable to the undersigned by reason of its ownership of Preferred Units or any other securities of the Operating Partnership. This letter agreement shall be construed in accordance with, and governed by, the laws of the State of New York, without regard to conflicts of laws principles. Very truly yours, (Name of Holder of Preferred Units) By: Name: Title: AGREED: SIMON PROPERTY GROUP, L.P. By: Name: Title: CERTIFICATE OF DESIGNATION OF 8.00% CUMULATIVE REDEEMABLE PREFERRED UNITS OF SIMON PROPERTY GROUP, L.P.

Trust Interest means the registered interest in the Lands and the Title Document as set forth and described in Schedule "A" or such portion thereof as may remain subject to this Agreement at the relevant time. AGREEMENT OF PARTIES Beneficiary appoints Trustee to hold, as bare trustee, the Trust Interest in trust on behalf of Beneficiary as of the Effective Date. As of the Effective Date, Trustee agrees that it holds and shall hold, as bare trustee, the Trust Interest in trust for Beneficiary on the terms and conditions described in this Agreement and Trustee agrees that all benefit and advantage accruing to the Trust Interest shall, if and when received by Trustee, be held by Trustee in trust for Beneficiary. OBLIGATIONS Trustee Does Not Guarantee Title By this Agreement, Trustee does not purport to hold in trust for Beneficiary any better title or interest than Trustee now holds, and Trustee does not, either expressly or by implication, warrant or guarantee title to the interest held for Beneficiary. Trustee Not Obligated to Conduct Operations Trustee shall not, by this Agreement, be obligated to drill any xxxxx, conduct any operations, post any deposits or apply for continuation of the Title Document, nor shall Trustee be required to pay any shut-in royalty or compensatory royalty on Beneficiary's behalf. Trustee to Cooperate With Beneficiary Trustee will cooperate with Beneficiary to provide any authorizations required to enable Beneficiary to make any required applications to regulatory authorities to attempt to retain the Lands under the Title Document. Trustee acknowledges that Beneficiary may drill xxxxx, conduct operations, and may post deposits insofar as they pertain to the Trust Interest in accordance with applicable law and the directions of any governmental authority having jurisdiction over the Trust Interest.