Limitations on Trustees' Powers. The Trustees are not permitted:
Limitations on Trustees' Powers. Notwithstanding anything herein to the contrary, no power of the Trustees enumerated herein or now or hereafter conferred upon trustees generally shall be construed to enable the Grantor, or Trustees or either of them, or both of them together, or any other person to purchase, exchange, or otherwise deal with or dispose of all or any part of the corpus or income of the trust for less than an adequate consideration in money or monies worth, or to the extent prohibited by Section 675 of the Internal Revenue Code of 1954, as amended, to enable the Grantor to borrow all or any part of the corpus or income of the trust, directly or indirectly, without adequate interest or security, or the power to allow the Grantor directly or indirectly to borrow either corpus or income from the trust and not completely repay such loan, including any interest, before the beginning of the taxable year. No part of the corpus or income of the trust property shall be used for or applied to the payment of premiums upon policies of insurance on the life of the Grantor. Trustees shall neither have nor exercise the power to vote or direct the voting of any shares or other securities of the trust except as expressly directed in a signed, written authorization by a majority of the then current income beneficiaries; nor shall the Trustees have or exercise the power to purchase or sell any trust assets, including stock or securities, without written and signed authorization from a majority of the then current income beneficiaries. A majority of the then current income beneficiaries shall have the power to cause trust assets, including stock or securities, to be sold or purchased, by so indicating their intention in a signed, written request delivered to the Trustees; provided, however, that the said power of the
Limitations on Trustees' Powers. The Trustee’s powers are subject to the Trustee’s duty to treat income and remaindermen beneficiaries equitably, and the grant of general powers above is limited as follows:
Limitations on Trustees' Powers. Notwithstanding any provision of this Amendment to the contrary, no powers enumerated or accorded to trustees generally pursuant to applicable law shall be construed to enable the Grantor, or the Trustee or either of them, or any other person, to sell, purchase, exchange, or otherwise deal with or dispose of all or any parts of the corpus of the Trust for less than an adequate consideration in money or monies worth, or to enable the Grantor to borrow all or any part of the corpus of the Trust, directly or indirectly.
Limitations on Trustees' Powers. The Trust and the Trustee are not authorized to act with respect to any Prior-Approval Action or take or omit to take any other required action which, pursuant to the Plan, the Confirmation Order or this Trust Agreement, requires the approval of the Oversight Committee, without such approval, unless the Court authorizes the Trustee to take, or omit to take, any action which constitutes a Prior-Approval Action on notice and opportunity for hearing to the Oversight Committee.
Limitations on Trustees' Powers. The Trustees of the Marital Trust shall exercise their trustee powers so as to comply with the marital deduction statutes under local law and the I.R.C. and applicable regulations. The Trustees shall take no action and shall have no power, authority, or discretion over the division, establishment, or funding of the trusts created under this Trust Agreement, over investments, over the income or principal of the trust, or over distributions to the Surviving Spouse, which would impair the marital deduction as applied to the marital deduction gift or which would disqualify the Marital Trust or other property passing to or for the benefit of the Surviving Spouse for the allowance of a marital deduction. [TEXT OMITTED FOR DEMO PURPOSES]
