Accounts Owned by Trusts Sample Clauses

Accounts Owned by Trusts. You may open an account to hold the funds of your trust and be named as a trustee on our Member Service Agreement for a Trust Part 1 (MSAFAT Part 1). You understand that for IRS reporting purposes, the name that appears first on Part 1 of the Agreement must match the Social Security Number or Employer Identification Number provided by you to open the account (though, we will be able to write the full legal name of the trust in the specially designated area of Part 1 of the Agreement should you so desire). A person named as a trustee on the Part 1 account form (or other form we use) has the same rights, responsibilities and liabilities as an owner of an account under this Agree- ment to open, initiate, change, add, close or terminate an account or service. Each trustee understands that any trustee acting alone may initiate, change, add, close or terminate the account and/or a service, and that his or her signature on Part 1 of this Agreement or continued use of an account or service (or receipt or availability of a peri- odic statement) confirms his or her agreement to any later initiation, change, addition, closure or termination of an account and/or service by any other trustee on the account. While any trustee may initiate, change, add, close or terminate the account and/or a service acting alone, we may require all trustees to consent in writing to the addition or removal of any trustee to or from the account. All trustees agree that we have no duty to notify the trustees of the account of any transaction, initiation, change, addition, clo- sure or termination of an account or service by any trustee acting alone. If you request us to place a trustee on an account who has not signed the Part 1 account form (or other form we use), you agree that person is a trustee of the account who may conduct transactions, initiate, change, add, close or terminate accounts and services according to this Agreement. If you wish to place a successor trustee or successor trustees on the account, we can include that person’s name as a successor trustee on the account, and any successor trustee may claim the funds in the account upon providing any proof satisfactory to us of his, her or their authority and succession to act as the current trus- tee(s) of the trust. Until such proof is provided to us, a successor trustee has no rights to the account or to the funds held in the account. You understand and agree that you and any person designated by you on Part 1 of this Agreem...
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Related to Accounts Owned by Trusts

  • Moneys Received by Trustee to Be Held in Trust Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder. So long as no Event of Default shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from time to time to the Company upon a Company Order.

  • Deposited Moneys to be Held in Trust by Trustee Subject to the provisions of the last paragraph of Section 4.03, all moneys deposited with the Trustee pursuant to Section 12.01 shall be held in trust and applied by it to the payment, either directly or through any paying agent (including the Company acting as its own paying agent), to the persons entitled thereto, of all sums due and to become due thereon for principal and interest (and premium, if any) for which payment of such money has been deposited with the Trustee.

  • Deposited Monies to Be Held in Trust by Trustee Subject to Section 7.04, all monies deposited with the Trustee pursuant to Section 7.01 shall be held in trust for the sole benefit of the Holders of the Notes, and such monies and shall be applied by the Trustee to the payment, either directly or through any Paying Agent (including the Company if acting as its own Paying Agent), to the Holders of the particular Notes for the payment of all sums or amounts due and to become due thereon for principal and interest, if any.

  • Application of Monies Collected by Trustee Any monies collected by the Trustee pursuant to this Article 6 with respect to the Notes shall be applied in the following order, at the date or dates fixed by the Trustee for the distribution of such monies, upon presentation of the several Notes, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid:

  • Reports by Trustee to the Holders As promptly as practicable after each June 30 beginning with the June 30 following the date of this Indenture, and in any event prior to August 30 in each year, the Trustee shall send to each Holder a brief report dated as of such June 30 that complies with Section 313(a) of the TIA if and to the extent required thereby. The Trustee shall also comply with Section 313(b) of the TIA. A copy of each report at the time of its mailing to the Holders shall be filed with the SEC and each stock exchange (if any) on which the Securities are listed. The Issuer agrees to notify promptly the Trustee in writing whenever the Securities become listed on any stock exchange and of any delisting thereof.

  • Moneys Held by Trustee Subject to the provisions of Section 10.4 hereof, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by mandatory provisions of law. Neither the Trustee nor any agent of the Issuer or the Trustee shall be under any liability for interest on any moneys received by it hereunder.

  • Reports by Trustee to Holders Within 60 days after each May 15 beginning with the May 15 following the date of this Indenture, the Trustee shall mail to each Securityholder a brief report dated as of such May 15 that complies with TIA Section 313(a), if required by such Section 313(a). The Trustee also shall comply with TIA Section 313(b). A copy of each report at the time of its mailing to Securityholders shall be filed with the SEC and each securities exchange, if any, on which the Securities are listed. The Company agrees to notify the Trustee promptly whenever the Securities become listed on any securities exchange and of any delisting thereof.

  • Actions by Trustee SECTION 5.1 Prior Notice to Certificateholders with Respect to Certain Matters............. 21 SECTION 5.2 Action by Trustee with Respect to Certain Matters.............................. 22 SECTION 5.3

  • Application of Moneys Collected by Trustee Any moneys collected by the Trustee shall be applied in the order following, at the date or dates fixed by the Trustee for the distribution of such moneys, upon presentation of the Securities in respect of which moneys have been collected, and stamping thereon the payment, if only partially paid, and upon surrender thereof if fully paid:

  • Reports by Trustee to Holders of the Notes (a) Within 60 days after each May 15 beginning with the May 15 following the date of this Indenture, and for so long as Notes remain outstanding, the Trustee will mail to the Holders of the Notes a brief report dated as of such reporting date that complies with TIA § 313(a) (but if no event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date, no report need be transmitted). The Trustee also will comply with TIA § 313(b)(2). The Trustee will also transmit by mail all reports as required by TIA § 313(c). (b) A copy of each report at the time of its mailing to the Holders of Notes will be mailed by the Trustee to the Company and filed by the Trustee with the SEC and each stock exchange on which the Notes are listed in accordance with TIA § 313(d). The Company will promptly notify the Trustee when the Notes are listed on any stock exchange.

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