During the Grantor's Life Sample Clauses

During the Grantor's Life. During the Grantor's life, the Trustee shall hold and administer all funds remaining after the exercise or lapse of all demand powers created under Article III, using some or all of the trust's net income and principal to pay premiums on policies of life insurance on the life of the Grantor, adding to principal any income not so used. In addition, subject to the restrictions set forth in later provisions of this trust, the Trustee may distribute to the Grantor's husband and/or children, or may spend on their behalf, so much of the trust principal and income (including all or none) as the Trustee deems necessary for their health, education, maintenance and support. However, the Trustee may not use any trust income or principal in a manner that would give the Grantor any pecuniary benefit, or pay for any debt or obligation for which the Grantor would otherwise be liable. In addition, the husband of the Grantor shall not participate in the decision to make any distribution under this Paragraph. Instead, the successor Trustees shall have the sole authority to make a distribution under this Paragraph.
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During the Grantor's Life. During the Grantor's life, the Trustee shall administer the trust (the "Lifetime Trust") pursuant to this paragraph:
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Related to During the Grantor's Life

  • Spending the Grant 9.1 The Grantee agrees to spend the Grant for the purpose of undertaking the Activity only.

  • Managing the Grant 7.1 Each party must notify the other of:

  • Term of the GTC These GTC shall remain in effect unless terminated earlier by either party in accordance with this Section 7.

  • Meetings During the Grievance Process 22.4.1 Subject to operational requirements,

  • Payment of the Grant 8.1 The Commonwealth agrees to pay the Grant to the Grantee in accordance with the Grant Details.

  • Duration of the Grant The Activity starts on 1 July 2021 and ends on 30 June 2024, which is the Activity Completion Date. The Agreement ends on 30 November 2024 or when the Commonwealth accepts all of the reports provided by the Grantee and the Grantee has repaid any Grant amount as required under this Agreement, which is the Agreement End Date.

  • OPERATION OF PROPERTY DURING AGREEMENT PERIOD The Seller will continue to operate the Property and any business conducted on the Property in the manner operated prior to the Agreement and will take no action that would adversely impact the Property, tenants, lender, or business, if any. Any changes, such as renting vacant space, that materially affects the Property or the Buyer's intended use will be permitted only with the Buyer's consent.

  • Covenant to pay 11.1.1 The Issuer will on any Payment Date (or any other due date pursuant to any Finance Document) unconditionally pay to or to the order of the Bond Trustee all amounts due under this Bond Agreement or any other Finance Document.

  • Covenants Running with the Land All Obligations contained in this Mortgage are intended by Mortgagor and Mortgagee to be, and shall be construed as, covenants running with the Land. As used herein, “Mortgagor” shall refer to the party named in the first paragraph of this Mortgage and to any subsequent owner of all or any portion of the Mortgaged Property. All Persons who may have or acquire an interest in the Mortgaged Property shall be deemed to have notice of, and be bound by, the terms of the Credit Agreement and the other Loan Documents; provided, however, that no such party shall be entitled to any rights thereunder without the prior written consent of Mortgagee.

  • SURVIVING COVENANTS The parties agree that the covenants contained in Xxxxxxx 0, Xxxxxxx 00, Xxxxxxxxx 12.2 and Section 13 of this Agreement shall survive the expiration or termination of this Agreement.

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