Trust Liabilities definition
Examples of Trust Liabilities in a sentence
There are no material and uncured or unremedied deficiencies with respect to or affecting the Corporate Trust Business, or the Purchased Corporate Trust Assets and Assumed Corporate Trust Liabilities being acquired in connection therewith.
BNY shall be entitled to any refunds or credits of or against any Taxes relating to the Purchased Corporate Trust Assets or the operation of the Corporate Trust Business or the Assumed Corporate Trust Liabilities, other than refunds or credits of or against Excluded Corporate Trust Taxes that are the responsibility of JPM under Section 14.1(a).
BNY shall pay or cause to be paid, shall be liable for, and shall indemnify, defend and hold JPM and their Affiliates harmless from and against any and all Taxes relating to the Purchased Corporate Trust Assets or the Assumed Corporate Trust Liabilities other than Excluded Corporate Trust Taxes that are the responsibility of JPM under the two immediately preceding sentences.
All real and personal property, use and other Taxes imposed on a time basis with respect to the Purchased Corporate Trust Assets and the Assumed Corporate Trust Liabilities shall be pro rated between BNY, on the one hand, and JPM, on the other hand, in the same manner based on the full amount of the Tax for the relevant period, unless such amount is not reasonably ascertainable, in which case the full amount of the Tax for the prior period shall be used.
Trust Liabilities..............................................................