Equity Trust Sample Clauses

Equity Trust. On the Effective Date, the Servicios Shares, the Government Shares, the Loral Shares and the Principia Shares, together with the Bondholder Equity (collectively, the “Trust Shares”), will be transferred (or issued) to the Trustee to be held pursuant to an equity trust (the “Equity Trust”). If requested by a beneficial owner of the Trust Shares, the Trustee will issue certificates evidencing beneficial interests in the Equity Trust to such beneficial owner corresponding to such owner’s beneficial interest therein; provided that neither such beneficial interest nor such certificates shall be negotiable instruments under Mexican law (whether under Article 228-D, third paragraph, of the General Law of Negotiable Instruments and Credit Transactions or otherwise). The economic interests derived from the future sale or disposition of the Servicios Shares held by the Trustee will be transferred to the Mexican Government to be applied in full satisfaction of the obligation known as “menoscabo” pursuant to the quiebra of Servicios. A technical committee of three persons (the “Technical Committee”) will be established pursuant to the Equity Trust. The initial members of the Technical Committee, and alternates for such members, if any, will be appointed from among the persons listed on an agreed schedule. The initial term of such appointment shall be two years, and to the extent necessary, shall renew automatically for an additional term of two years. Any subsequent appointment to the Technical Committee shall be approved by (i) the Voting Committee (as defined below) and (ii) the SPE which, in turn, will require the affirmative vote of the holders of depository receipts representing not less than 662/3% of the Bondholder Equity. The majority of the members of the Technical Committee shall qualify as independent directors (in accordance with agreed requirements) and members of the Technical Committee may also be directors of Satmex. The Technical Committee will be charged with effecting the sale of the Trust Shares in a manner to maximize the value thereof for the holders of all of the beneficial interests in the Trust Shares. The Technical Committee will determine when the Trust Shares shall be offered for sale, the method of sale, and whether to recommend any proposed sale and, if applicable, submit any proposed sale for approval by the beneficial owners of the Trust Shares. The Technical Committee may engage professional advisors (consisting of legal counsel, accou...
Sample 1
Equity Trust. The Company shall terminate the Trust Deed by and among the Company, Eminent Investment Limited and the Core Trust Company dated September 22, 2022 and cancel and terminate the Equity Trust, or take such other action with respect to the Equity Trust that is reasonably satisfactory to SPAC and the SPAC Shareholder Representative.
Sample 1

Related to Equity Trust

  • Security Trustee SIGNED by ) for and on behalf of ) THE BANK OF NEW YORK )

  • The Security Trustee The Security Trustee has agreed to become a party to this Agreement for the better preservation and enforcement of its rights under this Agreement but shall have no responsibility for any of the obligations of, nor assume any liabilities to, the Eighth Issuer Cash Manager, the Eighth Issuer Account Bank or the Eighth Issuer hereunder. Furthermore, any liberty or power which may be exercised or made in the Security Trustee's absolute discretion without any obligation to give reasons therefor, but shall in any event be exercised in accordance with the provisions of the Funding 1 Deed of Charge.

  • Supplemental Interest Trust (a) On the Closing Date, the Securities Administrator shall establish and maintain in the name of the Trustee a separate account for the benefit of the holders of the Offered Certificates (the “Supplemental Interest Trust”). The Supplemental Interest Trust shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee or of the Securities Administrator held pursuant to this Agreement.

  • Statutory Trust Only It is the intention of the Trustees to create a statutory trust pursuant to the Delaware Act. It is not the intention of the Trustees to create a general partnership, limited partnership, joint stock association, corporation, bailment, or any form of legal relationship other than a statutory trust pursuant to the Delaware Act. Nothing in this Declaration of Trust shall be construed to make the Shareholders, either by themselves or with the Trustees, partners or members of a joint stock association.

  • Investment Management Trust Agreement The Company has entered into the Trust Agreement with respect to certain proceeds of the Offering and the Private Placement substantially in the form filed as an exhibit to the Registration Statement.

  • Collateral Trustee (a) The Collateral Trustee will hold (directly or through co-trustees or agents) and, subject to the terms of the Intercreditor Agreement, will be entitled to enforce all Liens on the Collateral created by the Security Documents.

  • Reports to the Property Trustee The Depositor and the Administrative Trustees on behalf of the Trust shall provide to the Property Trustee such documents, reports and information as required by Section 314 of the Trust Indenture Act (if any) and the compliance certificate required by Section 314(a) of the Trust Indenture Act in the form, in the manner and at the times required by Section 314 of the Trust Indenture Act.

  • Series Trust The Trust is a series trust pursuant to Sections 3804(a) and 3806(b)(2) of the Delaware Trust Statute. The Shares of the Trust shall be divided into series, each a Fund, as provided in Section 3806(b)(2) of the Delaware Trust Statute. Separate and distinct records shall be maintained for each Fund and the assets associated with a Fund shall be held in such separate and distinct records (directly or indirectly, including a nominee or otherwise) and accounted for in such separate and distinct records separately from the assets of any other Fund. The use of the terms “Trust”, “Fund” or “series” in this Trust Agreement shall in no event alter the intent of the parties hereto that the Trust and each Fund receive the full benefit of the limitation on inter-series liability as set forth in Section 3804 of the Delaware Trust Statute.

  • Collateral Trust Agreement This Article 12 and the provisions of each other Security Document are subject to the terms, conditions and benefits set forth in the Collateral Trust Agreement. The Company consents to, and agrees to be bound by, the terms of the Collateral Trust Agreement, as the same may be in effect from time to time, and to perform its obligations thereunder in accordance with the terms therewith.

  • Grantor Trust The Trust is intended to be a grantor trust, of which the Sponsor is the grantor, within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Internal Revenue Code of 1986, as amended, and shall be construed accordingly.

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