Restriction. Notwithstanding anything herein to the contrary, the Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the Trust or (b) that would result in the Trust being treated as an association taxable as a corporation for Federal income tax purposes.
Appears in 22 contracts
Samples: Alternative Servicing Agreement, Trust Agreement, Trust Agreement
Restriction. Notwithstanding anything herein to the contrary, the Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the Trust or (b) that would result in the Trust being treated as an association taxable as a corporation for Federal income tax purposes.. ARTICLE IX CONCERNING THE OWNER TRUSTEE Section 9.01
Appears in 2 contracts
Restriction. Notwithstanding anything herein to the contrary, the Owner Trustee Trustees shall not take any action (a) that is inconsistent with the purposes of the Trust or (b) that to the actual knowledge of the Trustees would result in the Trust being treated as an association taxable as a corporation for Federal federal income tax purposes.
Appears in 2 contracts
Samples: Administration Agreement (First Marblehead Corp), Administration Agreement (First Marblehead Corp)
