Disposition of Trust Property. (a) Subject to Section 9.06, as promptly as possible after the occurrence of a Trust Wind-Up Event or Liquidation Event, and in any case within three Business Days following such occurrence, the Trustee shall provide notice to the Unitholders, the Swap Counterparties, the Depositor and the Rating Agencies of the occurrence of a Trust Wind-up Event or Liquidation Event specifying the particular Trust Wind-Up Event or Liquidation Event and in the case of a Liquidation Event, the particular Underlying Security, Swap Agreement or other Trust Property related to such Liquidation Event. In the case of a Trust Wind-Up Event, the notice shall state that (i) Holders should surrender their Units to the Trustee, or deliver security or indemnity acceptable to the Trustee in order to receive their respective distributions of Trust Property, if any, (ii) the location and hours of the Corporate Trust Office at which Units should be presented and surrendered and (iii) that each Holder must supply transfer instructions in writing with respect to Trust Property to be distributed in cash or in kind; provided, however, that with respect to Units that are Global Securities as to which distributions will be made through the facilities of DTC or another depository, the Trustee may adhere to the applicable rules and procedures or DTC or such other depository in lieu of clauses (i), (ii) and (iii) of this sentence.
(b) Immediately upon receipt of notice from the Trustee that the Trust is required to sell Underlying Securities, the Selling Agent shall undertake to sell Underlying Securities on behalf of the Trust; provided, however, that the Selling Agent may elect not to act as Selling Agent with respect to some or all of the Underlying Securities by written notice to that effect to the Trustee. The timing, price and other terms of any sale conducted by the Selling Agent shall be determined by the Selling Agent in its sole discretion, but all such sales shall be completed within 30 days or such longer period of time as may be reasonable with respect to particular Underlying Securities. In the case of a Liquidation Event, sales under this provision shall be limited to the Affected Underlying Securities except where the proceeds from the Affected Underlying Securities are insufficient to make payment of the Swap Termination Payment. The Selling Agent must solicit at least three bids for the Underlying Securities to be sold. The Selling Agent must solicit at least three of such bids ...
Disposition of Trust Property. The sole beneficiary of said trust,
Disposition of Trust Property. The sole beneficiary of said trust, is to receive the principal and accumulated undistributed net income from the trust when he/she attains the age of twenty-five (25) years. The Trustee, may, if the beneficiary attends a college, technical school, or other accredited institution of higher education, use the trust estate to pay the tuition, fees room and board, and other expenses associated with the beneficiary attending such school only with the permission of the Court.
Disposition of Trust Property. Upon termination of the Trust, the trust property shall be conveyed to the OWNERS as tenants in common, subject to the terms and provisions of the Special Permit and all other matters of record which henceforth shall be enforceable by and against the OWNERS, joint and severally.
Disposition of Trust Property. The sole beneficiary of said trust, Additionally, the Trustee may also apply to the Court for permission to expend such amounts of the accumulated income and/or principal of the trust estate as the Trustee deems necessary to provide for the beneficiary’s health, education, comfort, maintenance and support, or to meet any emergency expense of the beneficiary. Funds may be expended for the foregoing items in the paragraph only upon the approval of the Probate Court.
Disposition of Trust Property. Upon termination of the Trust, the Trust property shall be conveyed to the Owners as tenants-in- common, subject to the terms and provisions of the applicable land use regulations then in force in the Town of Hingham, including any necessary approvals by the Town of Hingham Planning Board, the Town of Hingham Zoning Board of Appeals, the Town of Hingham Conservation Commission, the Town of Hingham Board of Health and any other permit granting authority having jurisdiction on such proposed disposition of the Property, and all other matters of record which henceforth shall be enforceable by and against the Owners, jointly and severally.
Disposition of Trust Property
