Corporate Trustee definition

Corporate Trustee means a Trustee which is a banking institution or trust company regularly engaged in the business of trust administration in which no Beneficiary has any controlling interest.

Corporate Trustee. First Union National Bank, as Corporate Trustee under the Trust Agreement, and its successors pursuant to the Trust Agreement.

Corporate Trustee as defined in the definition of Trust Agreement.

Examples of Corporate Trustee in a sentence

• Any individual who is serving as a Trustee may at any time appoint another person or a corporate Trustee to serve as a co-Trustee but only during the period of time that such individual is serving as a Trustee.

• Any corporate Trustee shall be entitled to be paid a fee based upon its fee schedule from time to time that is required to be published.

• No individual Trustee (as opposed to a corporate Trustee) shall, with respect to the investment of Trust Estate, be liable for any action taken, or failure to act, unless such action, or failure to act, was done willfully and in bad faith or fraudulently.

• To place any portion or all of the trust funds in any custodial or agency account or other similar account administered by a banking institution or trust company and to rely upon their investment decisions, such not constituting an unauthorized delegation of the Trustee’s duties; provided that this paragraph shall not be applicable if the Trustee is a corporate Trustee.

• A corporate Trustee does hereby have the power necessary to appoint a Trustee to administer property in any jurisdiction in which it shall fail to qualify.

More Definitions of Corporate Trustee

Corporate Trustee means an entity organized as a financial institution or a corporation with the authority to act in a fiduciary capacity.

Corporate Trustee means a trustee that is a bank, trust company, or other entity authorized to serve as a trustee under the laws of the United States or any state thereof that is not a Related Person as to me, and which has at least Five Hundred Million Dollars ($500,000,000) of assets under trust management (which may include assets managed by affiliated or subsidiary banks or trust companies). A bank or trust company that does not meet these requirements cannot serve as Trustee.

Corporate Trustee means the Public Trustee or any trustee company under the Trustee Companies Act 1987;

Corporate Trustee means a bank, trust company, or company whose primary business is trust services. A corporate trustee may not have any affiliation with the beneficiary either through relatives working for the corporate trustee or investments by the beneficiary with the company other than for administrative fees.

Corporate Trustee means a trustee which is a corporation; “corporation” means a body corporate wherever incorporated; “Court” means the Supreme Court or a Judge thereof;

Corporate Trustee has the meaning specified in the recital of parties to this Agreement.

Corporate Trustee means any incorporated bank organized under the laws of any of the states of the United States or any national banking corporation organized under the laws of the United States maintaining an established and active trust department which shall agree to perform the functions imposed upon it by the provisions of this chapter; but, unless such bank or national bank shall maintain offices in South Carolina, it shall have unimpaired capital and surplus of not less than twenty‑five million dollars.