Appointment of the Trustees Sample Clauses

Appointment of the Trustees. The Seller hereby appoints the Owner Trustee as trustee of the Issuer effective as of the date hereof, to have all the rights, powers and duties set forth herein. The Seller hereby appoints the Issuer Delaware Trustee as Delaware trustee of the Issuer effective as of the date hereof for the sole purpose of satisfying the requirement of Section 3807(a) of the Statutory Trust Act that the Issuer have at least one trustee with a principal place of business in the State of Delaware. It is understood and agreed by the parties hereto that the Issuer Delaware Trustee shall have none of the duties or liabilities of the Owner Trustee.
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Appointment of the Trustees. NCF II hereby appoints the Trustee and the Resident Trustee as trustees of the Trust, to have all the rights, powers and authority set forth herein and in the Statutory Trust Statute. The Trustee acknowledges receipt in trust from NCF II, of the sum of One Dollar ($1.00), constituting the initial Trust Property.
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Appointment of the Trustees. (8.1) The Trust shall be administered by a Committee composed of at least 3 Trustees and up to 5 Trustees in total. The 5 Trustees shall be appointed by the Board of the Settlor for terms as follows: The Board will appoint a Trustee to serve as Chairperson for a five year term and shall be eligible for reappointment for additional five year terms. The Board will appoint a minimum of two and a maximum of four additional Trustees who shall serve five year terms and be eligible for reappointment for additional five year terms. Notwithstanding this the Board has the right to appoint any of these trustees for shorter terms than five years if necessary to ensure committee continuity (8.2) A Trustee may resign by written notice of the Secretary of the Settlor. A Trustee may be removed from office by the affirmative Board of 90% of the Members of the Settlor present at a specially called meeting, of which proper notice has been given for that purpose, pursuant to the by laws of the Settlor calling for a special meeting from time to time in force. (8.3) A trustee’s office shall be deemed to become vacant forthwith in the event of any of the following: a) death; b) mental incapacity; c) personal bankruptcy; d) Trustee ceases to be a member of the Settlor; e) written resignation of the Settlor; f) removal from office pursuant to section (8.2); g) expiry of the term of appointment. (8.4) In the event of a vacancy the Board may appoint a Trustee to fill the term or any portion of the unexpired term of a Trustee. (8.5) The majority decision of the Trustees shall be binding upon all the Trustees. (8.6) All cheques, agreements and negotiable instruments shall be signed by at least two out of the five Trustees.
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Appointment of the Trustees. 1. There shall be one (1) Collateral Trustee. The initial Collateral Trustee shall be Arthur J.
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Appointment of the Trustees. (a) Subject to the provisions of Section 2.05(b), the Trust shall have no fewer than two and no more than three trustees appointed from time to time by the Grantor or, in the event of a Transfer, by the Owner. The Grantor or, in the event of a Transfer, the Owner, may at any time increase the number of Trustees, subject to the provisions of Sections 2.05(b), 3.01, 4.01 and 4.03. The Grantor has appointed XXXXXXX XXXXXXX and XXXXXXX XXXXXXXX, as Independent Trustees, and XXXXX XXXXXX, as Beneficiary Trustee of the Trust, which Trustees shall have all the rights, powers and duties set forth herein. (b) The Trust shall at all times have at least two Independent Trustees who are not and, for the immediately preceding two year period, was not (i) a Trustee (other than an Independent Trustee), officer or employee of the Trust; (ii) a director, officer or employee of the Grantor, or in the event of a Transfer, any Owner, or any of their Affiliates; (iii) a supplier, independent contractor or any other person who derives more than 15% of its gross revenues from its activities with the Trust, the Grantor and/or any Affiliate of the foregoing; (iv) a holder (directly or indirectly) of more than 5% of any voting securities of the Grantor, or in the event of a transfer, any Owner, or a holder of any legal or beneficial interest in the Trust or any Affiliate of the foregoing; (v) a person controlling any such director, trustee, officer, employee, supplier, independent contractor, holder or any other person meeting the criteria set forth in clauses (i), (ii), (iii) or (iv) of this Section 2.05(b) or (vi) a member of the immediate family of any person meeting the criteria set forth in clauses (i), (ii), (iii), (iv) or (v) of this Section 2.05(b), provided, however, such Independent Trustee may be an independent director or trustee of another special purspose entity affiliated with Grantor.
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Appointment of the Trustees. (a) Subject to the provisions of Section 2.05(b), the Trust shall have no fewer than two and no more than three trustees appointed from time to time by the Grantor or, in the event of a Transfer, by the Owner. The Grantor or, in the event of a Transfer, the Owner, may at any time increase the number of Trustees, subject to the provisions of Sections 2.05(b), 3.01, 4.01 and 4.
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Appointment of the Trustees. (a) The Trust shall have no fewer than two and no more than three trustees (if the Delaware Trustee, the Issuer Trustee, and Independent Trustee are the same entity) or five trustees (if the Delaware Trustee, the Issuer Trustee and Independent Trustee are different entities) appointed from time to time by the Grantor or, in the event of a Transfer, by the Owner or Owners. The Grantor or, in the event of a Transfer, the Owner or Owners may at any time increase the number of Trustees, subject to the provisions of Sections 2.05(b), 3.01, 4.01 and 4.03. The Grantor has appointed Wilmington Trust Company, as Issuer Trustee, Delaware Trustee and Independent Trustee, and Xxxxxxx Xxxxxxxx and Xxxxx Xxxxxxxx as Beneficiary Trustees of the Trust, which Trustees shall have all the rights, powers and duties set forth herein. (b) The Trust shall at all times have as Issuer Trustee a Person meeting the qualifications of Section 11.01(c) of this Agreement. In addition, the Trust shall at all times have at least one Trustee which qualifies as a Delaware Trustee and at least one Trustee which qualifies as an Independent Trustee. The Issuer Trustee, the Delaware Trustee and the Independent Trustee may, and will initially, be the same entity.
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Appointment of the Trustees 
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Related to Appointment of the Trustees

  • Appointment of the Owner Trustee The Seller hereby appoints the Owner Trustee as trustee of the Issuer effective as of the date hereof, to have all the rights, powers and duties set forth herein.

  • Appointment of Trustee The Depositor hereby appoints Wilmington Trust Company as Trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth herein.

  • Appointment of Administrative Trustees (a) There shall at all times be one or more Administrative Trustees hereunder with respect to the Trust Securities. Each Administrative Trustee shall be either a natural person who is at least 21 years of age or a legal entity that shall act through one or more persons authorized to bind that entity. Each of the individuals identified as an “Administrative Trustee” in the preamble of this Trust Agreement hereby accepts his or her appointment as such. (b) Except where a requirement for action by a specific number of Administrative Trustees is expressly set forth in this Trust Agreement, any act required or permitted to be taken by, and any power of the Administrative Trustees may be exercised by, or with the consent of, any one such Administrative Trustee. Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with Section 8.11, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Trust Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement.

  • Appointment of the Transfer Agent The Company hereby appoints the Transfer Agent, as transfer agent for its shares and as shareholder servicing agent for the Company, and the Transfer Agent accepts such appointment and agrees to perform the duties set forth below.

  • Appointment of the Manager The Trust is engaged in the business of investing and reinvesting its assets in securities of the type and in accordance with the limitations specified in its Declaration of Trust, as amended and supplemented from time to time, By-Laws (if any) and Registration Statement filed with the Securities and Exchange Commission (the "Commission") under the 1940 Act and the Securities Act of 1933 (the "Securities Act"), including any representations made in the prospectus and statement of additional information relating to the Funds contained therein and as may be amended or supplemented from time to time, all in such manner and to such extent as may from time to time be authorized by the Trust's Board of Trustees (the "Board"). The Board is authorized to issue any unissued shares in any number of additional classes or series. The investment authority granted to the Manager shall include the authority to exercise whatever powers the Trust may possess with respect to any of its assets held by the Funds, including, but not limited to, the power to exercise rights, options, warrants, conversion privileges, redemption privileges, and to tender securities pursuant to a tender offer, and participate in class actions and other legal proceedings on behalf of the Funds. The Trust hereby appoints the Manager, subject to the direction and control of the Board, to manage the investment and reinvestment of the assets in the Funds and, without limiting the generality of the foregoing, to provide the other services specified in Section 2 hereof. The Trust hereby appoints the Manger to provide the Fundlevel duties and services as set forth in Section 2(b) hereof, for the compensation and on the terms herein provided, and the Manager hereby accepts such appointment. Each new investment portfolio established in the future by the Trust shall automatically become a "Fund" for all purposes hereunder as if it were listed on Schedule A, absent written notification to the contrary by either the Trust or the Manager.

  • Appointment of Co-Trustee (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required. (b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions: (1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee. (2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and (3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee. (c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee. (d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.

  • Appointment of the Custodian The Trustee may, with the consent of the Master Servicer and the Company, or shall, at the direction of the Company and the Master Servicer, appoint custodians who are not Affiliates of the Company, the Master Servicer or any Seller to hold all or a portion of the Custodial Files as agent for the Trustee, by entering into a Custodial Agreement. Notwithstanding anything to the contrary contained herein, the Company, Master Servicer and Trustee acknowledge that the functions of the Trustee hereunder with respect to the acceptance, custody, inspection and release of Custodial Files, and the preparation and delivery of the Interim Certification required pursuant to Section 2.02, shall be performed by the Custodian as and to the extent set forth in the Custodial Agreement. Subject to Article VIII, the Trustee agrees to comply with the terms of each Custodial Agreement with respect to the Custodial Files and to enforce the terms and provisions thereof against the related custodian for the benefit of the Certificateholders. Each custodian shall be a depository institution subject to supervision by federal or state authority, shall have a combined capital and surplus of at least $15,000,000 and shall be qualified to do business in the jurisdiction in which it holds any Custodial File. Each Custodial Agreement, with respect to the Custodial Files, may be amended only as provided in Section 11.01. The Trustee shall notify the Certificateholders of the appointment of any custodian (other than the custodian appointed as of the Closing Date) pursuant to this Section 8.11.

  • Appointment of FTIS The Investment Company hereby appoints FTIS as transfer agent for Shares of the Investment Company, as service agent in connection with dividend and distribution functions, and as shareholder servicing agent for the Investment Company, and FTIS accepts such appointment and agrees to perform the following duties.

  • Appointment of Custodians The Trustee may, with the consent of the Depositor and the Master Servicer appoint one or more Custodians to hold all or a portion of the Mortgage Files as agent for the Trustee, by entering into a Custodial Agreement. The appointment of any Custodian may at any time be terminated and a substitute Custodian appointed therefor upon the reasonable request of the Master Servicer to the Trustee, the consent to which shall not be unreasonably withheld. The Trustee shall pay any and all fees and expenses of any Custodian in accordance with each Custodial Agreement (provided that if expenses of the kind that would be reimbursable to the Trustee pursuant to Section 8.05 if incurred by the Trustee are incurred by the Custodian, the Trustee shall be entitled to reimbursement under Section 8.05 for such kind of expenses to the extent the Trustee has paid such expenses on behalf of the Custodian or for which the Trustee has reimbursed the Custodian). The Trustee initially appoints the Custodian as Custodian, and the Depositor and the Master Servicer consent to such appointment. Subject to Article VIII hereof, the Trustee agrees to comply with the terms of each Custodial Agreement and to enforce the terms and provisions thereof against the Custodian for the benefit of the Certificateholders having an interest in any Mortgage File held by such Custodian. Each Custodian shall be a depository institution or trust company subject to supervision by federal or state authority, shall have combined capital and surplus of at least $10,000,000 and shall be qualified to do business in the jurisdiction in which it holds any Mortgage File. Each Custodial Agreement may be amended only as provided in Section 11.01. In no event shall the appointment of any Custodian pursuant to a Custodial Agreement diminish the obligations of the Trustee hereunder.

  • Appointment of Owner Trustee The Depositor hereby appoints the Owner Trustee as trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth herein.

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