Trust Term definition
Examples of Trust Term in a sentence
The Trust shall be irrevocable by Grantor and shall have a term that expires at such time as the Trust terminates in accordance with the provisions of Section 13 (the "Trust Term").
For purposes of this Agreement, all references to the Trust Registration Statement, any Trust preliminary prospectus, the Trust Prospectus or any Trust Term Sheet or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval system ("▇▇▇▇▇").
The term of the Trust (the “Trust Term”) shall commence on the date on which the Grantor makes its first cash contribution to the Trust and shall expire on the earlier of (i) the Expiration Date (as defined in Article IX below) and (ii) the date that is 30 years after the commencement of the Trust Term.
Subject to Section 3.03, this Agreement automatically will renew upon the expiration of the initial Term or any Florida Trust Term, as the case may be, and each renewal Term or renewal Florida Trust Term, as applicable thereafter on the same terms and conditions for successive Terms with respect to each Beneficiary.
Upon the expiration of the Trust Term (as defined below), any assets then remaining in the Trust Fund, including the Payment Account, shall be distributed to the Grantor, provided that all amounts payable under any pending Distribution Notices have been paid in full or otherwise satisfied and that all Approved Expenses (as defined below) have been paid in full or otherwise satisfied, and the Trust shall terminate.
Notwithstanding anything to the contrary in this Section, however, the Supplemental Liquidating Trust Term may not, in the aggregate, exceed three (3) years without a favorable letter ruling from the IRS that any further extension would not adversely affect the status of the Liquidating Trust as a liquidating trust for federal income tax purposes.
In addition, the provisions of this Section shall be without prejudice to the right of any party in interest under Section 1109 of the Bankruptcy Code to petition the Bankruptcy Court, for cause shown, to shorten the Supplemental Liquidating Trust Term.
In addition, the provisions of this Section shall be without prejudice to the right of any party in interest under Section 1109 of the Bankruptcy Code to petition the Bankruptcy Court, for cause shown, to shorten the Supplemental Litigation Trust Term.
Trading Policies will be presented to the Trustee and purchased pursuant to the procedures set forth in Sections 1(b) and (c) and subject to Section 2(i) during the Extended Trading Trust Term.
A prospectus containing the Rule 430A Information shall have been filed with the Commission in accordance with Rule 497(h) (or a post-effective amendment providing such information shall have been filed and declared effective in accordance with the requirements of Rule 430A) or, if the Trust has elected to rely upon Rule 434, a Trust Term Sheet shall have been filed with the Commission in accordance with Rule 497(h).