Independent Trust Managers definition

Independent Trust Managers means the trust managers of the Company who are not affiliated with PMC Capital or its subsidiaries.
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Independent Trust Managers means Messrs. James Twaddell, J. Joseph Garrahy and Harold Gorman, the members of the Board who are neither employed by, nor affiliated with, the Grove Companies or Grove Property.
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Independent Trust Managers means any member of the REIT's Board of Trust Managers who is not an officer of the REIT or an affiliate of Grove Investment Group, Inc.
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Examples of Independent Trust Managers in a sentence

  • Neither the Investment Manager nor any Affiliate of the Investment Manager shall sell any property or assets to the Company or purchase any property or assets from the Company, directly or indirectly, except as approved by a majority of the Independent Trust Managers, provided that any Person wholly-owned (directly or indirectly) by the Company may sell property or assets to the Company or purchase assets from the Company without such approval.

  • In addition, except as approved by a majority of the Independent Trust Managers, neither the Investment Manager nor any Affiliate of the Investment Manager shall receive any commission or other remuneration, directly or indirectly, in connection with the activities of the Company (except as expressly provided herein) or any joint venture or partnership in which the Company is a party, unless such joint venture or partnership is wholly-owned (directly or indirectly) by the Company.

  • Except for compensation received by the Investment Manager pursuant to Section 8 hereof, all commissions or other remuneration received by the Investment Manager or an Affiliate of the Investment Manager and not approved by the Independent Trust Managers under this Section 17 shall be reported to the Company annually within ninety (90) days following the end of the Company's fiscal year.

  • At all times after the date of closing of the Initial Public Offering (as defined herein), the composition of the Board of Trust Managers shall consist of a majority of Independent Trust Managers.

  • In the event that any trust manager should disagree, the matter shall be conclusively resolved by a majority of the trust managers of the Company, including a majority of the Independent Trust Managers.

  • The affirmative vote of a majority of the Independent Trust Managers, even if they constitute less than a quorum, shall be required to approve any and all matters for which approval by the Board of Trust Managers is required by this Declaration of Trust.

  • Subsequent to the Closing Date (as defined herein), the affirmative vote of a majority of the Independent Trust Managers (even if they constitute less than a quorum of the Board) shall be required to approve the purchase by the Trust or its subsidiaries of any multifamily residential or mixed-use properties, the ownership of which is under the control, whether directly or indirectly, of Messrs.

  • The Trust Managers will limit operating expenses to these levels unless a majority of the Independent Trust Managers make a finding that, based on unusual or non-recurring factors, a higher level of expenses is justified for that year.

  • Within 60 days after the end of any fiscal quarter in which Total Operating Expenses for the preceding twelve (12) months exceeded this limitation, the Trust will disclose this fact to the Shareholders, together with an explanation of the factors upon which the Independent Trust Managers relied in approving higher operating expenses.

  • Except during a period of vacancy or vacancies on the Board of Trust Managers, a majority of the trust managers at all times shall be persons who are Independent Trust Managers (as that term is defined in Section 3.14).


More Definitions of Independent Trust Managers

Independent Trust Managers means the trust managers of the
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Related to Independent Trust Managers

  • Independent Trustees means the members of the Fund’s Board of Trustees who are not "interested persons" (as defined in the 0000 Xxx) of the Fund and who have no direct or indirect financial interest in the operation of this Plan or in any agreement relating to this Plan.

  • Independent Trustee means a Trustee who is not an interested person within the meaning of Section 2(a)(19) of the Investment Company Act.

  • Independent Manager shall refer to a member of the Board that meets the standards of an “independent director” set forth in NASDAQ Marketplace Rule 4200(a)(15) (on any successor rule) with respect the Company, the Administrator and their respective affiliates. In the event a Special Committee is formed, the term “Independent Manager” shall, as the context requires, refer generically to each Independent Manager.

  • Independent Director/Trustee means any; (i) director or trustee of an Invesco Mutual Fund who is not an “interested person” (as defined in Section 2(a)(19) of the Investment Company Act) of an Invesco Mutual Fund; (ii) director or trustee of an Invesco ETP who is not an “interested person” (as defined in Section 2(a)(19) of the Investment Company Act) of an Invesco ETP; or (iii) member of the Invesco Canada Independent Review Committee, Invesco Canada Funds Advisory Board or Board of Directors of Invesco Corporate Class Inc. who has no other executive responsibilities or engagement in an Invesco Canada Fund or Invesco NA’s day-to-day activities beyond the scope of their duties as director/trustee.

  • Parent Trustees means the Trustees elected or appointed pursuant to Articles 53 – 56 inclusive;

  • Independent representative means a person who:

  • Litigation Trustee means a Person to be determined by SFC and the Initial Consenting Noteholders prior to the Effective Time, with the consent of the Monitor, to serve as trustee of the Litigation Trust pursuant to and in accordance with the terms thereof.

  • Independent Committee means a committee of the board of directors of the General Partner made up of directors that are “independent” of Brookfield and its Affiliates, as contemplated by applicable securities Laws;

  • Liquidating Trustee has the meaning set forth in Section 6.2(a).

  • Independent Fiduciary means an independent fiduciary who will serve as a fiduciary to the Plan in accordance with Article 3 that has no relationship or interest in any of the Settling Parties and is mutually agreed to by the Settling Parties.

  • Independent Advisor means an independent, nationally recognized accounting firm approved by the Parties, where such approval shall not be unreasonably withheld by either Party.

  • Independent Manager Fee is defined in Section 4.01(a) of the LLC Agreement.

  • Liquidation Trustee means the trustee appointed jointly by the Debtors and the Creditors’ Committee, and identified in the Plan Supplement, to serve as the liquidation trustee under the Liquidation Trust Agreement, or any successor appointed in accordance with the terms of the Plan and Liquidation Trust Agreement.

  • Independent Adviser means an independent financial institution of international repute or an independent financial adviser with appropriate expertise appointed by the Issuer under Condition 5(j)(i).

  • SOFR Administrator means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).

  • Corporate Administrator means, with respect to the Issuer, Deutsche International Corporate Services Limited whose registered office is at St. Paul's Gate, New Street, St. Helier, Jersey, JE4 8ZB, Channel Islands and any successor or replacement thereto.

  • Independent Fund Trustee means a trustee of the Trust who is not an “interested person” as that term is defined in Section 2(a)(19) of the 1940 Act.

  • NIM Trustee The trustee for the NIM Securities.

  • Outside Trustee With respect to an Outside Serviced Mortgage Loan, the trustee under the applicable Outside Servicing Agreement.

  • Management Committee means in the case of a Competition which is an unincorporated association, the management committee elected to manage the running of the Competition and where the Competition is incorporated it means the Board of Directors appointed in accordance with the articles of association of that company.

  • Delaware Trustee means the Person identified as the “Delaware Trustee” in the preamble to this Trust Agreement, solely in its capacity as Delaware Trustee of the Trust and not in its individual capacity, or its successor in interest in such capacity, or any successor Delaware Trustee appointed as herein provided.

  • Investment Committee means the committee in charge of investment aspects of the Plan, as described in Article VII.

  • Public Trustee means the public trustee within the meaning of the Public Trustee Act 1978.