Change of Trust Situs Sample Clauses

Change of Trust Situs. If at any time, in the opinion of the Trustee, it is in the best interests of the beneficiaries of any trust for the trust to be located in a jurisdiction other than the one in which the trust is administered at the time, the Trustee may move the trust to such other jurisdiction. The Trustee may elect that the law of such other jurisdiction shall govern the trust to the extent necessary or appropriate under the circumstances, but not so as to enlarge or shift any beneficial interest.
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Change of Trust Situs. The situs of the Trust created hereunder shall be Delaware. The Corporate Trustee and the Individual Trustees shall, with the consent of the Settlor, have the power to remove all or part of the Trust Estate or to change the situs of administration of the Trust from one jurisdiction to any other jurisdiction (including outside the United States), provided such jurisdiction would recognize the validity of the Trust, and provided that the resulting trust has the same or similar Purpose as this Trust, and the Corporate Trustee and the Individual Trustees shall have the power to elect, by a separate acknowledged instrument filed with the Trust records, that the law of such other jurisdiction shall govern the administration of the Trust. The Trustees' authority to change the situs of administration of the Trust and elect that the laws of another jurisdiction shall thereafter govern the administration of the Trust does not impose a duty on the Trustees or any other party to monitor the laws of any jurisdiction other than the jurisdiction in which the Trust is then administered.

Related to Change of Trust Situs

  • Termination of Trust Agreement Section 9.01.

  • Winding up of trust If the Security Agent, with the approval of the Facility Agent determines that:

  • Termination of Trust Section 9.01

  • Situs of Trust The Trust will be located and administered in the State of Delaware. All bank accounts maintained by the Owner Trustee on behalf of the Trust shall be located in the State of Delaware or the State of New York. Payments will be received by the Trust only in Delaware or New York and payments will be made by the Trust only from Delaware or New York. The Trust shall not have any employees in any state other than Delaware; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee, the Servicer or any agent of the Trust from having employees within or outside the State of Delaware. The only office of the Trust will be at the Corporate Trust Office located in Delaware.

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