rule against perpetuities definition

rule against perpetuities means the rule against remoteness of vesting commonly known as the modern rule against perpetuities, as modified by the Perpetuity Act, R.S.B.C. 1979, c. 321;
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rule against perpetuities means the rule found in Section 112.036 of the Texas Trust Code requiring that an interest is not good unless it must vest, if at all, no later than 21 years after some life in being at the time of the creation of the interests, plus a period of gestation.
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rule against perpetuities. Any right or interest granted under this Deed (including but not limited to Grantor’s obligations under Sections 5.5 and 5.6) that would violate any applicable Rule Against Perpetuities or any similar rule of law, shall terminate twenty-one (21) years after the death of the last survivor of the children and grandchildren of Rxxxxx X. Xxxxxxx who are alive on the Effective Date.
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Examples of rule against perpetuities in a sentence

  • The Members do not intend that there shall be any violation of the Rule Against Perpetuities, the Rule Against Unreasonable Restraints on the Alienation of Property, or any similar rule.

  • The Parties do not intend nor desire for this Agreement to violate the common law Rule Against Perpetuities or any analogous statutory provision or any other statutory or common law rule imposing time limits on the vesting or termination of estates in land.

  • The sole purpose of this provision is to avoid any interpretation of this Lease as a violation of the Rule Against Perpetuities, or any other rule of law or equity concerning restraints on alienation.

  • The Participants do not intend that there shall be any violation of the Rule Against Perpetuities, the Rule Against Unreasonable Restraints on the Alienation of Property, or any similar rule.

  • Xxxx or (ii) the period provided under the Uniform Statutory Rule Against Perpetuities or (b) the specific applicable period of time expressed in this Facility Lease, whichever of (a) and (b) is shorter.

  • Xxxxxxx or (ii) the period provided under the Uniform Statutory Rule Against Perpetuities or (b) the specific applicable period of time expressed in this Facility Lease, whichever of (a) and (b) is shorter.

  • If any provision of this Agreement does or would violate the Rule Against Perpetuities or any analogous statutory provision or any other statutory or common law rule imposing time limits on the vesting or termination of estates in land, then this Agreement shall not be deemed void or voidable.

  • If any provision of this Agreement does or would violate the Rule Against Perpetuities or any analogous statutory provision or any other statutory or common law rule imposing time limits on the vesting or termination of estates in land, then this Agreement shall not be deemed void or voidable, but shall be interpreted in such a way as to maintain and carry out the Parties' objectives to the fullest extent possible by law.

  • In the event the Term of this Lease is determined to violate the Rule Against Perpetuities by a Court of competent jurisdiction, the Term shall, by this Article 2, be automatically reduced to the maximum number of years determined to comply with the Rule Against Perpetuities.

  • The Term of this Lease is not intended to violate the Rule Against Perpetuities.

Related to rule against perpetuities

  • Anti-Money Laundering Laws means all anti-money laundering and counter-terrorist financing laws, rules, regulations, executive orders and requirements administered by any governmental authority of the United States (including the U.S. Bank Secrecy Act, the U.S.A. PATRIOT Act, the Money Laundering Control Act, and regulations of the U.S. Treasury Department which implement such acts) or any other applicable domestic or foreign authority with jurisdiction over Customer.

  • Anti-Money Laundering and Anti-Terrorism Laws shall have the meaning assigned thereto in Section 3.1(f)(i).

  • insolvency practitioner means any receiver, administrator or liquidator appointed in respect of the Tenant;

  • Intimidating, threatening, abusive, or harming conduct means, but is not limited to, conduct that does the following:

  • criminal laws means all criminal laws designated as such under domestic law irrespective of whether contained in the tax laws, the criminal code or other statutes.

  • Insolvency Legislation means legislation in any applicable jurisdiction relating to reorganization, arrangement, compromise or re-adjustment of debt, dissolution or winding-up, or any similar legislation, and specifically includes for greater certainty the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada) and the Winding-Up and Restructuring Act (Canada).

  • Money Laundering Laws has the meaning set forth in Section 3.25.

  • Bribery means the act of unduly offering, giving, receiving or soliciting anything of value to influence the process of procuring goods or services, selecting consultants, or executing contracts.

  • Attack directed against any civilian population means a course of conduct involving the multiple commission of acts referred to in paragraph 1 against any civilian population, pursuant to or in furtherance of a State or organizational policy to commit such attack;

  • Victim or target of Nazi persecution means any individual persecuted or targeted for persecution by

  • Criminal drug statute means a Federal or non-Federal criminal statute involving the manufacture, distribution, dispensing, possession or use of any controlled substance.

  • Anticorruption Laws means the U.S. Foreign Corrupt Practices Act of 1977, or any other anticorruption or anti-bribery Applicable Law applicable to the Company or any of the Company Subsidiaries.

  • the 1996 Act means the Education Act 1996;

  • Fraudulent Transfer Laws has the meaning set forth in Section 2.2.

  • Necessary Personal Effects means items such as clothing and toiletry items, which are included in the Insured’s Baggage and are required for the Insured’s Trip.

  • Administration of criminal justice means performance of any activity directly involving the

  • Bankruptcy Act means the Bankruptcy Act or Title 11 of the United States Code.

  • Anti-Corruption and Anti-Bribery Laws means the Foreign Corrupt Practices Act of 1977, as amended, any rules or regulations thereunder, or any other applicable United States or foreign anti-corruption or anti-bribery Laws.

  • Emissions means the total emissions in tCO2 equivalent for a target period; “EU ETS Directive” means Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emissions allowance trading within the Community and amending Council Directive 96/61/EC, as amended from time to time;1

  • NICs Legislation means the Social Security (Categorisation of Earners) Regulations 1978;

  • the 1998 Act means the Social Security Act 1998;

  • Rule 16b-3 means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan.

  • Corrupt and Fraudulent Practices means either one or any combination of the practices given below;

  • Anti-Corruption Laws means all laws, rules, and regulations of any jurisdiction applicable to the Borrower or its Subsidiaries from time to time concerning or relating to bribery or corruption.

  • the 1991 Act means the Water Industry Act 1991(a);