Business of the Trust Sample Clauses

Business of the Trust. The Trust has been formed for the purpose of: (i) issuing the Trust Preferred Securities, (ii) investing the proceeds of the Trust Preferred Securities in the Company Preferred Securities, which benefit from the related Subordinated Guarantee and (iii) engaging in any necessary or incidental activities. The Trust shall have the power and authority to execute, deliver and perform its obligations under the LLC Agreement and other agreements to which the Trust is a party and to become a member of the Grantor. The only assets of the Trust shall be the Company Preferred Securities and the related rights of the Trust under the Subordinated Guarantee. The Trust may not acquire any other assets, issue any other equity securities or any debt securities, or engage in any other activities.
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Business of the Trust. The Trust’s primary purpose and sole business is to acquire Partnership Units, with the objective of generating returns to Trust Unitholders. Upon each Closing under the Trust Offering, the Trust will use the entire proceeds raised from the issuance of Trust Units to acquire Partnership Units. All expenses of the Trust Offering and the Partnership Offering will be borne by the General Partner and the Partnership pursuant to the Funding Agreement. See item 2.7, “Material Agreements”. The Trust allows investors to invest through Deferred Plans indirectly into the Partnership (see item 7.2, “Eligibility for Investment in Trust Units by Deferred Plans”). Consequently, investors that purchase Trust Units should also review this Offering Memorandum with respect to the Partnership. Business of the Partnership The Partnership is a credit opportunities fund focused on generating yield and compounding capital over the long term. It does this in part by purchasing receivables and making loans originated, underwritten and serviced by Merchant Growth, who acts as the originator, operator and servicer to the Partnership. The Partnership was formed on March 31, 2010. Since inception, the Partnership has provided over 15,000 financings, totaling approximately $430,000,000. This growth has led to the Partnership’s evolution from a niche financing business to a diversified and professionally managed credit fund. Currently, more than 75% of the Partnership’s assets are used to purchase receivables or enter loans originated by Merchant Growth. A lesser portion of the business is dedicated to financing certain businesses associated or affiliated with the Partnership or Merchant Growth, or to new capital deployment opportunities not associated with the Partnership or Merchant Growth which have been identified by the General Partner. The General Partner is responsible for establishing and implementing the Parnterhip’s objectives and strategy, setting any limitations or restrictions on investments, monitoring the performance of the portfolio, and making any adjustments to the portfolio. As at December 31, 2022 the Partnership had total assets of $73,051,602. The Partnership’s total assets include approximately $49,044,168 of Partnership capital and $27,933,579 of debt (see item 3.4, “Loans”). The following table shows the Partnership’s monthly and annual returns since 2011: MONTHLY NET RETURNS YEAR JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Full Year 2022 1.1% 1.0% 1.0% 1.2%...
Sample 1
Business of the Trust. The Trust has been formed for the purpose of: (i) issuing the Trust Preferred Securities, (ii) investing the proceeds of the Trust Preferred Securities in the Company Preferred Securities, which benefit from the related Subordinated Guarantee and (iii) engaging in any related or incidental activities. The Trust shall have the power and authority to execute, deliver and perform its obligations under the LLC Agreement and other agreements to which the Trust is a party and to become a member of the Grantor. The only assets of the Trust shall be the Trust Estate. The Trust may not acquire any other assets, issue any other equity securities or any debt securities, or engage in any other activities.
Sample 1

Related to Business of the Trust

  • BUSINESS OF THE PARTNERSHIP The purpose and nature of the business to be conducted by the Partnership is (i) to conduct any business that may be lawfully conducted by a limited partnership organized pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as to permit the General Partner at all times to qualify as a REIT, unless the General Partner otherwise ceases to qualify as a REIT, and in a manner such that the General Partner will not be subject to any taxes under Section 857 or 4981 of the Code, (ii) to enter into any partnership, joint venture, co-ownership or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing and (iii) to do anything necessary or incidental to the foregoing. In connection with the foregoing, and without limiting the General Partner’s right in its sole and absolute discretion to qualify or cease qualifying as a REIT, the Partners acknowledge that the General Partner intends to qualify as a REIT for federal income tax purposes and upon such qualification the avoidance of income and excise taxes on the General Partner inures to the benefit of all the Partners and not solely to the General Partner. Notwithstanding the foregoing, the Limited Partners agree that the General Partner may terminate its status as a REIT under the Code at any time to the full extent permitted under the Charter. The General Partner on behalf of the Partnership shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “publicly traded partnership” for purposes of Section 7704 of the Code.

  • Business of the Company The purpose of the Company is to carry on any lawful business, purpose or activity for which limited liability companies may be formed in accordance with Section 18-106 of the Act.

  • Management of the Trust The business and affairs of the Trust shall be managed by or under the direction of the Trustees, and they shall have all powers necessary or desirable to carry out that responsibility. The Trustees may execute all instruments and take all action they deem necessary or desirable to promote the interests of the Trust. Any determination made by the Trustees in good faith as to what is in the interests of the Trust shall be conclusive. In construing the provisions of this Declaration, the presumption shall be in favor of a grant of power to the Trustees.

  • Obligations of the Trust This Agreement is executed by and on behalf of the Trust and the obligations of the Trust hereunder are not binding upon any of the trustees, officers or shareholders of the Trust individually but are binding only upon the Trust and with respect to the Funds to which such obligations pertain.

  • Organization of the Trust AUTHORITY TO EXECUTE AND PERFORM VARIOUS DOCUMENTS; DECLARATION OF TRUST BY DELAWARE TRUSTEE

  • Expenses of the Trust Other than as provided for in Sections 1 and 3, the Trust shall be responsible for all of its own fees, expenses, charges, assessments, taxes, and other costs incurred in its operations, whether incurred directly by the Trust or incurred by the Manager on behalf of the Trust (together, “fees and expenses”). Such fees and expenses payable by the Trust shall include, but are not limited to:

  • Investments in the Trust Investments may be accepted by the Trust from such Persons, at such times, on such terms, and for such consideration as the Trustees from time to time may authorize. Each investment shall be credited to the Shareholder's account in the form of full and fractional Shares of the Trust, in such Series (or class) as the purchaser shall select, at the net asset value per Share next determined for such Series (or class) after receipt of the investment; provided, however, that the Trustees may, in their sole discretion, impose a sales charge or reimbursement fee upon investments in the Trust.

  • Creation of the Trust The Trust is hereby created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 2005-AR2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:

  • Duties of the Trust The Trust shall provide the Manager with the following information about the Fund:

  • Conduct of Business of the Company During the period from the date of this Agreement and continuing until the earlier of the termination of this Agreement pursuant to its terms and the Effective Time, the Company (which for the purposes of this Section 6.1 shall include the Company and each of its Subsidiaries) agrees, except to the extent that Parent shall otherwise consent in writing (which consent shall not be unreasonably withheld or delayed), to carry on its business and to cause each of its Subsidiaries to carry on its business in the usual, regular and ordinary course in substantially the same manner as heretofore conducted, and to use and cause each of its Subsidiaries to use all commercially reasonable efforts consistent with past practices and policies to preserve intact its present business organizations, keep available the services of its present officers and employees and preserve its relationships with customers, suppliers, distributors, licensors, licensees, and others having business dealings with the Company or any such Subsidiaries, to the end that the goodwill and ongoing businesses of Company and each of its Subsidiaries be unimpaired at the Effective Time. Except as expressly provided for by this Agreement, the Company shall not, and shall not permit any of its Subsidiaries to, prior to the Effective Time or earlier termination of this Agreement pursuant to its terms, without the prior written consent of Parent (which consent shall not be unreasonably withheld or delayed):

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