Corporate Trustee Clause Samples
The Corporate Trustee clause designates a corporation, rather than an individual, to act as the trustee for a trust or similar legal arrangement. This clause typically outlines the powers, duties, and responsibilities of the corporate trustee, such as managing trust assets, making distributions, and maintaining records in accordance with the trust's terms and applicable laws. By appointing a corporate trustee, the clause ensures professional management, continuity, and impartiality in the administration of the trust, addressing concerns about individual trustee incapacity or conflicts of interest.
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Corporate Trustee. The term “corporate Trustee” shall mean a Trustee which is a banking institution or trust company regularly engaged in the business of trust administration in which no Beneficiary has any controlling interest.
Corporate Trustee. The Corporate Trustee shall be entitled to receive compensation for its services under this Agreement (including, without limitation, separate compensation for its service as both the initial Individual Trustee and Corporate Trustee) according to the terms of any agreement entered into by the Corporate Trustee and the Settlor from time to time, and if no such agreement is then effective, then in accordance with its schedule of rates published from time to time and in effect at the time the compensation is paid, including minimum fees and additional compensation as stated therein.
Corporate Trustee. Every Trustee which is a company may exercise or concur in exercising any discretion or power hereby conferred on the Trustee by a resolution of such company or by a resolution of its Board of Directors or governing Body or may delegate the right and power to exercise or concur in exercising any such discretion or power to one or more members of its Board of Directors or Governing Body appointed from time to time by the said Board of Directors or Governing Body for that purpose and the Trustee’s discretion shall be deemed to be exercised when a resolution of the Trustee exercising its discretion or a memorandum of the said delegate of the exercise by him of a discretion or power on behalf of the Board of Directors or Governing Body has been recorded in the Trustee’s Minute Book relating to the Fund created by this Deed.
Corporate Trustee. Notwithstanding subsection 16.7.7 of this Article, the Corporate Trustee has not agreed to submit any Matter in which it is involved to arbitration, and all such Matters shall be referred to a court of competent jurisdiction. Further, where any Matter involves, or could potentially involve personal liability or criminal sanction against any Split Lake Cree Trustee, the Chief, or any Split Lake Cree Councillor, such individual may at his option, prior to the commencement of the arbitration, revoke his agreement to submit the Matter to arbitration, in which case the Matter may only be proceeded with in a court of competent jurisdiction.
Corporate Trustee. Any trustee which is a trust corporation or company authorised to undertake trust business shall be entitled in addition to reimbursement of its proper expenses to remuneration for its services in accordance with such terms and conditions as may from time to time be agreed between such trustee and Company and in the absence of an agreement in accordance with its published terms and conditions for trust business in force from time to time.
Corporate Trustee. WILMINGTON TRUST COMPANY, not in its individual capacity, but solely as Corporate Trustee
Corporate Trustee. Prior to the Insurance Premium Loan Maturity Date relating to any Insurance Premium Loan and following any foreclosure on, or other transfer of, a Life Insurance Policy or beneficial interest of a related Premium Finance Borrower in satisfaction of an Insurance Premium Loan, Imperial PFC shall use commercially reasonable efforts to keep (A) the institutional trustee or financial institution or (B) the Non-Corporate Trustee, as applicable, acting as a trustee or co-trustee of the related Premium Finance Borrower, in place. Further, Imperial PFC shall (1) cause each institutional trustee, financial institution or Non-Corporate Trustee acting as a trustee or co-trustee of a Premium Finance Borrower to [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. provide notice to Imperial PFC of any resignation by such Person, (2) with respect to any resignation of an institutional trustee, financial institution or Non-Corporate Trustee acting as a trustee or co-trustee of a Premium Finance Borrower, provide Lexington with notice of such resignation within one (1) Business Day of such resignation (any such notice, the “Trustee Resignation Notice”) and (3) with respect to any termination of an institutional trustee, financial institution or Non-Corporate Trustee acting as a trustee or co-trustee of a Premium Finance Borrower, obtain the prior written consent of Lexington with respect to such termination.
Corporate Trustee. References to a “Corporate Trustee” mean a trust company or a bank in the business of administering trusts which, together with its affiliated entities that are also in such business, has (i) combined capital and earned surplus of not less than Fifty Million Dollars ($50,000,000), and (ii) at least One Hundred Million ($100,000,000) of trust assets under management (excluding the trusts administered under this Trust Agreement), and in each case indexed for inflation in the manner described in Section 17.6 of this Trust Agreement.