Trust Status. No provision in this Agreement shall be construed to xxxxx Xxxxxxx Mac or any other person authority to act in any manner which would cause a PC Pool not to be treated as a Ñxed investment trust for federal income tax purposes.
Trust Status. The Trust is a trust duly formed and validly existing under the real estate investment trust law of Maryland, with all requisite power and authority to enter into this Agreement and to carry out its obligations hereunder.
Trust Status. Preserve and maintain the Trust's existence as a trust validly existing under the laws of the Province of Ontario, and qualify and remain qualified to carry on business in each jurisdiction.
Trust Status. All assets held in connection with the Plan, including all amounts of compensation deferred pursuant to the Plan, all property and rights acquired or purchased with such amounts and all income attributable to such amounts, property or rights shall be held in trust for the exclusive benefit of Participants and their Beneficiaries under the Plan. No part of the assets and income of the Plan shall be used for, or diverted to, purposes other than for the exclusive benefit of Participants and their Beneficiaries and for defraying reasonable expenses of the Plan.
Trust Status. Buyer is a real estate investment trust duly organized and validly existing under the laws of State of Maryland and is, or will be on the applicable Closing Date, duly authorized to do business in the state in which the Property is located in accordance with local law. O.B. McCoin is the Executive Vice President of Buyer and has been dulx xxxxxxxxxd and empowered by Buyer to execute this Agreement and all documents in connection herewith.
Trust Status. Each of the DST Trust and the HJ Trust has full power and authority to own its properties and assets and to enter into this Agreement and consummate the transactions contemplated hereby.
Trust Status. The Trust is duly organized, validly existing and in good standing under the laws of the State of California and has the requisite power and authority to own its properties. There is no pending or threatened proceeding for the dissolution, liquidation, insolvency or rehabilitation of the Trust.
Trust Status. Meadowcourt is a trust duly organized and validly existing under the laws of its state of formation.
Trust Status. Each New Partner represents that it is a "grantor trust" under Section 671 et seq. of the Internal Revenue Code of 1986, as amended, and that its sole grantor (or owner) is its respective transferring partner. Each New Partner agrees to promptly notify the Partnership of any change in this treatment and of the facts relating to any such change. Each New Partner agrees that neither it nor its grantor will take any action that would cause the Partnership to violate Section 2.6 of the Partnership Agreement.
Trust Status. The Trust is intended to be a grantor trust, within the meaning of section 671 of the Code, of which the Corporation is the grantor, and this Plan is to be construed in accordance with that intention. Notwithstanding any other provision of this Plan, the Trust Fund will remain the property of the Corporation and will be subject to the claims of its creditors in the event of its bankruptcy or insolvency. No Participant or person claiming through a Participant will have any priority claim on the Trust Fund or any security interest or other right superior to the rights of a general creditor of the Corporation.
