Additional Rights and Duties of the Trustee. (a) The Trustee shall notify the Grantor and the Beneficiary in writing within ten days following each deposit to, or withdrawal from, the Trust Account.
Additional Rights and Duties of the Trustee. (a) Before accepting any Asset for deposit to the Trust Account, the Trustee shall determine that such Asset is in such form that, to the extent practicable, the Beneficiary whenever necessary may, or the Trustee upon direction by the Beneficiary will, negotiate such Asset without consent or signature from the Grantor or any person or entity other than the Trustee in accordance with the terms of this Trust Agreement.
Additional Rights and Duties of the Trustee. (a) The Trustee shall furnish to the Grantor and the Beneficiary a statement of all Assets in the Trust Account upon the inception of the Trust Account and at the end of each calendar month thereafter (the “Monthly Statement”).The Monthly Statement shall list (i) all of the Assets[ with CUSIP number (if applicable)] and other specific identifying information with respect to any Asset[ that has no CUSIP number], and (ii) any transfers of Assets to or from the Trust Account during such calendar month, including all purchases and sales of Assets during such calendar month. The Monthly Statement shall be given as soon as practicable, but in no event later than ten (10) Business Days after the end of the calendar month most recently concluded. At the Grantor’s or the Beneficiary’s request, the Trustee may provide daily reporting to the Beneficiary, the Grantor or its designated Investment Manager by granting access to the Trustee’s automated data system affording on-line access to trust accounts information. The Monthly Statement under this Section 7(a) and the notices under Section 7(c) hereof shall be deemed given by the Trustee to the Grantor and the Beneficiary to the extent that the Grantor and the Beneficiary, as the case may be, had previously requested and had been given access to the Trustee’s automated data system affording on-line access to trust accounts information and such information is posted by the Trustee on such system within the relevant period.
Additional Rights and Duties of the Trustee. (a) The Trustee shall receive Assets and hold the Assets in a safe place;
Additional Rights and Duties of the Trustee. (a) The Trustee shall notify the Grantor and the Beneficiary in writing within five (5) days following each deposit to, or withdrawal from, the Trust Account; provided, however, the Trustee shall notify the Grantor and the Beneficiary in writing within one (1) day following (i) each withdrawal from the Trust Account that totals an amount equal to or in excess of $20,000,000 or (ii) any number of withdrawals that results in an amount equal to or in excess of $20,000,000 if such withdrawals occur within a two day period of each other. The Trustee will be deemed to have delivered such notice of deposit, withdrawal and receipt of Grantor Withdrawal Notice or Beneficiary Withdrawal Notice, as applicable, if each such notice is available on one or more of the Trustee’s systems for the delivery of electronic media to which system(s) Grantor and Beneficiary have access.
Additional Rights and Duties of the Trustee. (a) The Trustee shall be a bank which is a member of the Federal Reserve System of the United States of America or a New York State chartered bank or trust company and shall not be a parent, subsidiary or affiliate of the Grantor or the Beneficiary.
Additional Rights and Duties of the Trustee. (a) The Trustee shall furnish to the Grantor and the Beneficiary a statement of all Assets in the Trust Account upon the inception of the Trust Account and at the end of each calendar quarter thereafter (the “Quarterly Statement”). The Quarterly Statement shall list (i) all of the Assets with CUSIP number (if applicable) and other specific identifying information with respect to any Asset that has no CUSIP number, and (ii) any transfers of Assets to or from the Trust Account during such calendar quarter, including all purchases and sales of Assets during such calendar quarter. The Quarterly Statement shall be given as soon as practicable, but in no event later than ten (10) Business Days after the end of each calendar quarter. In addition, the Trustee shall provide daily reporting to the Beneficiary, the Grantor or its designated Investment Manager of the Assets in the Trust Account. The Quarterly Statement and daily reporting under this Section 6(a) may be given by the Trustee to the Grantor (or its designated Investment Manager) and the Beneficiary to the extent that the Grantor (or such Investment Manager) and the Beneficiary, as the case may be, has been given access to the Trustee’s automated data system affording on-line access to trust account information. (b) Before accepting any asset for deposit to the Trust Account, the Trustee shall determine that such asset is in such form that the Beneficiary whenever necessary may, or the Trustee upon written direction by the Beneficiary may, negotiate such asset without consent or signature from the Grantor or any other Person other than the Trustee, in accordance with the terms of this Agreement. The Trustee shall have no responsibility whatsoever to determine at any time whether any assets in the Trust Account are or continue to be Eligible Assets or to determine the value of any Eligible Assets. (c) The Trustee shall notify the Grantor and the Beneficiary in writing (which may be in electronic form) within ten (10) days of any deposits to or withdrawals from the Trust Account. (d) All Assets in physical form shall be held in a safe place by the Trustee in the United States, except that the Trustee may hold any Asset that is in book-entry form as of the date it is credited to the Trust Account (a “Book-Entry Asset”) through the book-entry account maintained by the Trustee with the related depository for such Book-Entry Asset (such a depository being referred to herein as a “Depository”). A Book-Entry Asse...
Additional Rights and Duties of the Trustee. (a) The Trustee shall notify the Grantor and the Beneficiary in writing within five (5) Business Days following each deposit to, or withdrawal from, the Trust Account.
Additional Rights and Duties of the Trustee. (a) The Trustee shall be a Qualified United States Financial Institution that does not control, is not controlled by and is not under common control with, the Grantor or the Beneficiary, and which maintains trust accounts for others in the ordinary course of its business and is acting in that capacity in this Agreement.
Additional Rights and Duties of the Trustee. (a) The Trustee shall, concurrent with delivery of each monthly Valuation Report, deliver a summary of account activity for the month just ended to the Grantor and Beneficiary.
