Constructive Trust. By accepting benefits (whether the payment of such benefits is made to the Covered Person or made on behalf of the Covered Person to any provider) from the Company, the Covered Person agrees that if he or she receives any payment from any Responsible Party as a result of an injury, illness, or condition, he or she will serve as a constructive trustee over the funds that constitute such payment. Failure to hold such funds in trust will be deemed a breach of the Covered Person's fiduciary duty to the Company and the Plan, and will give the Company rights to recover equitable and money damages from the Covered Person.
Constructive Trust. Borrower shall receive, as the sole and exclusive property of Bank, and as trustee for Bank, all monies, checks, notes, drafts and all other payment for and/or proceeds of Collateral which come into the possession or under the control of Borrower (or any of its shareholders, directors, officers, employees, representatives or those Persons acting for or in concert with Borrower) and immediately upon receipt thereof, Borrower shall remit the same (or cause the same to be remitted), in kind, to Bank.
Constructive Trust. Landlord covenants that all sums paid by Tenant to Landlord and intended for payment by Landlord to a third party (such as, by way of example, taxes and certain elements of CAM Charges) are given to Landlord in trust and shall be applied only for such third-party payments, as and when due or to reimburse Landlord for payment of same.
Constructive Trust. 17 7.6 Application of Proceeds of Collateral . . . . . . . . . . . . . . .18 7.7
Constructive Trust. 31 7.7 Application of Proceeds of Collateral.....................31 7.8
Constructive Trust. The proceeds of any sale made by any Shareholder without compliance with the provisions of this Article III, Section 3 and 4 shall be deemed to be held in constructive trust in such amount as would have been due to the Holders if such Shareholder had complied with such Sections.
Constructive Trust. 16 ------------------ 7.6 Application of Proceeds of Collateral....................................................... 16 ------------------------------------- 7.7 Third Party Collateral Claims............................................................... 17 ----------------------------- 7.8 Additional Collateral....................................................................... 17 --------------------- 7.9 No Custom or Waiver......................................................................... 17 -------------------
Constructive Trust. 22 7.8 Obligations of the Company .............................23 7.9 Subrogation ............................................23 7.10 Amendment to Senior Debt, etc ..........................23 7.11 Filing Proofs of Claim, Consents, Assignments, etc .....23 8.
Constructive Trust. 35 7.6 Application of Proceeds of LaSalle Collateral..............35 7.7 Third-Party Collateral Claims..............................35 7.8 No Custom or Waiver........................................36
Constructive Trust. 6. The conclusions of the Court of Appeal on the questions of fiduciary relationship, fiduciary duty and constructive trust were, to no small extent, based on the view that it was an implied term of the contract that the distributor would not do anything inimical to the market in Australia for USSC surgical stapling products. The rejection of that implied term removes an important part of the basis of the Court of Appeal's conclusion that USSC was entitled to the benefit of the comprehensive constructive trust which it declared. While a careful reading of XxXxxxxxx J's judgment leaves me in little doubt that his finding that the distributor owed a limited fiduciary duty to the manufacturer would have been the same if he had relied merely on the express "best efforts" and "no competing products" terms of the contract, he would seem partly to have based that finding of a limited fiduciary duty on the existence of the relevant implied term ("HPI's position of power and its contractual obligations": (1982) 2 N.S.W.L.R. 766, at p.811). In all the circumstances, the preferable course is to approach the question of constructive trust xxxxxx on the basis of XxXxxxxxx J's findings of fact.
