Examples of Trust Property in a sentence
The Trustees nevertheless agree that they will, at their own cost and expense, promptly take commercially reasonable actions as may be necessary to discharge any liens on any part of the Trust Property which result from claims against the Trustees personally that are not related to the ownership or the administration of the Trust Property.
No Holder shall have any right to demand and receive from the Trust an in-kind distribution of, or otherwise divide or partition, the Trust Property.
Accordingly, no Holder shall have any liability for the debts or obligations incurred by any other Holder, with respect to the Trust Property or otherwise, and no Holder shall have any authority, other than as specifically provided herein, to act on behalf of any other Holder or to impose any obligation with respect to the Trust Property.
It is the express intent of this Trust Agreement that this Trust not terminate except when (x) such termination is necessary to prevent the loss of the Trust Property, or (y) the Management Trustee anticipates undertaking some other action that would, in the Management Trustee’s opinion, result in the Trust no longer being treated as an investment trust for federal income tax purposes.
The Trustees shall not have any duty or obligation to manage, make any payment in respect of, record, sell, dispose of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action except as expressly provided by the terms of this Trust Agreement, and no implied duties or obligations shall be read into this Agreement against the Trustees.