Revocable Trust Account Sample Clauses

Revocable Trust Account. You may open an account for a revocable trust created by you if you are a member of TruStone. The revocable trust must name a beneficiary. We may demand the Trustee(s) file a copy of the trust with us, an attorney’s opinion concerning validity of the trust and a waiver of liability. We may interview you concerning the trust. We may refuse to accept such a Primary Share and may terminate the account. The Trust and its terms and conditions must be in accordance with the laws of this jurisdiction.
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Revocable Trust Account. Notwithstanding anything to the contrary in this Agreement, if the Account is held by a revocable trust, “you”, “your”, and “Account Owner” means the revocable trust for which the Account is established (the “Trust”) and/or, as the context may require, the natural person(s) authorized to represent and act on behalf of the trust and whom are named in the Account application. If the Account is held by a revocable trust (and to the extent such Accounts are permitted), the following additional terms apply: You confirm that you have authority under the Trust and applicable law to enter into agreements and transactions, and issue instructions on this Account, for the Trust and agree that all instructions and transactions will be in full compliance with the Trust. The Trust has not been revoked, modified, or amended in any manner that would cause any statement in the Account application, this Agreement or other information that you have provided to us to be incorrect. The Trust exists under applicable state laws. You agree to indemnify us from and hold us harmless for any and all Losses resulting from my effecting any transaction or giving any instruction with respect to the Account. You will inform us in writing of any changes in the Trust or its trustees to keep the representations and confirmations made in the Account application and this Agreement true at all times.
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Revocable Trust Account. A revocable trust account may be opened without a written trust agreement. The account is in the name of one or more of you for the benefit of one or more persons you name as beneficiaries. Trust accounts are subject to applicable law including limitations on the number of beneficiaries. The beneficiaries cannot withdraw funds from the account unless all of you die and the beneficiary is then living. If two or more beneficiaries survive, the Bank will pay the funds in the account in equal shares to the beneficiaries. The funds in the account will not be inherited by your heirs or controlled by your will. If this account is owned by more than one of you, you will be subject to the joint account rules stated above. If you die, we will not release any funds until all required legal documents have been received and reviewed by us and all other legal requirements have been met. If you opened your account in a Firstrust Branch in New Jersey, you should also review the Multiple Party Deposit Account section below for further information on your account.
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Revocable Trust Account. By checking the Trust account designation on the Master Membership Application, you request that the credit union establish an account for a Revocable Living Trust agreement, generally drafted by an attorney. Such an account will be established upon the proper completion of the Master Membership Application which will designate all parties to the trust and bind all such parties to the terms of this Agreement. THE CREDIT UNION HAS NO RESPONSIBILITY TO INQUIRE AS TO THE ACTUAL TERMS OF THE TRUST AND SHALL BE HELD HARMLESS FOR ANY ACTIONS TAKEN IN RELIANCE OF THE INFORMATION AS PROVIDED ON THE MASTER MEMBERSHIP APPLICATION. THE CREDIT UNION IS NOT REQUIRED TO KNOW, UNDERSTAND, INTERPRET OR ENFORCE THE TERMS OF THE TRUST AGREEMENT BUT HAS THE RIGHT TO REQUEST THE NECESSARY LEGAL DOCUMENTS BEFORE RELEASING FUNDS FROM THE ACCOUNT(S). TRUST ACCOUNT FUNDS MAY BE RETAINED OR PROVIDED TO THE PROPER AUTHORITIES IN AN INTERPLEADER ACTION UNTIL SUCH DOCUMENTS ARE DELIVERED TO THE CREDIT UNION OR THE ISSUE IS RESOLVED AS A MATTER OF LAW. The credit union cannot and is under no obligation to act as a trustee or to inquire as to the powers or duties of the trustee(s). Trustee(s) agree to notify the credit union in writing if a change of trustee(s) occurs. The credit union may withhold payment of funds to any party until proper evidence of authority is provided. The credit union may rely upon the direction of any one trustee until a written notice of revocation form is received. The Master Membership Application shall be binding on the grantor(s), trustee(s), trust, successor trustee(s), and the beneficiary(ies). You, the individual(s) signed on the Master Membership Application as Trustee(s), request OUR Credit Union (“credit union”) to estab- lish one or more accounts as indicated, for the Trust and agree that the account(s) shall be subject to the bylaws, regulations, policies, and other rules and practices of the credit union now in effect or as amended, and agree that the Trustee(s) and the account(s) shall be subject to all fees and charges that may be assessed from time to time for use of the accounts(s). The trust funds to be deposited in the credit union are part of the trust specified on the applicable Master Membership Application executed by the Trustee(s) as indicated on the same form(s). The credit union is authorized to release the funds in the account(s) established pursuant to the Membership Application for Revocable Trusts with the credit union upon the s...
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Related to Revocable Trust Account

  • The Trust Fund Xxxxxx Mae, acting in its capacity as Trustee for the Lower Tier REMIC, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee for the Trust Fund established hereby, all of Xxxxxx Mae’s right, title and interest in and to the Lower Tier Regular Classes, including all payments of principal and interest thereon received after the month of the Issue Date.

  • Trust Account (i) The Purchaser hereby acknowledges that it is aware that the Company will establish the Trust Account for the benefit of its public stockholders upon the IPO Closing. The Purchaser, for itself and its affiliates, hereby agrees that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset of the Company as a result of any liquidation of the Company, except for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public Shares held by it.

  • Trust Accounts (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and, to the extent set forth herein, the Certificateholder, the Collection Account as provided in Section 5.01 of the Sale and Servicing Agreement.

  • Payment Account (a) On or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Payment Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property Trustee in the Payment Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

  • TRUST FUNDS The Owner hereby gives power to the Agent to deposit all receipts collected for the Owner, less any sums properly deducted or disbursed, in a financial institution whose deposits are insured by an agency of the United States government. The funds shall be held in a trust account separate from the Agent’s personal accounts. The Agent shall not be liable in the event of a bankruptcy or failure of a financial institution. All funds managed under this section must be done so in accordance with applicable law.

  • Trust Account; Distributions On or before the issuance of the Certificates, Xxxxxx Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Trust Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Trust Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Classes and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Trust Fund Certificates or

  • Escrow Agent Not a Trustee The Escrow Agent accepts duties and responsibilities under this Agreement, and the escrow securities and any share certificates or other evidence of these securities, solely as a custodian, bailee and agent. No trust is intended to be, or is or will be, created hereby and the Escrow Agent shall owe no duties hereunder as a trustee.

  • Trust Fund The Buyer is a trust fund whose trustee is a bank or trust company and whose participants are exclusively (a) plans established and maintained by a State, its political subdivisions, or any agency or instrumentality of the State or its political subdivisions, for the benefit of its employees, or (b) employee benefit plans within the meaning of Title I of the Employee Retirement Income Security Act of 1974, but is not a trust fund that includes as participants individual retirement accounts or H.R. 10 plans.

  • Training Trust Fund Section 1. On work covered by this Agreement, the Employer agrees to pay into the Indiana Laborers Training Trust Fund the amount in cents per hour as shown in Article

  • Certificate Accounts Any time deposit, term share, share certificate, or certificate of deposit account allowed by state law (certificate account), whichever we offer, is subject to the terms of this Agreement, the Truth-in-Savings Disclosure, and the Account Receipt for each account, the terms of which are incorporated herein by reference.

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