Establishment of the Trust Fund. 1.1 The Trust Fund is established to support the Objective, which shall be to mobilize, coordinate and allocate resources in the form of Contributions to improve basic living conditions in Haiti and assist in building the capacity of the Government of Haiti in the longer term consistent with Haiti’s Action Plan for Reconstruction and Development.
1.2 The governance framework set forth in Annex 2 (the “Governance Document”) sets forth the governance and organizational structure of the Trust Fund. The Governance Document may be amended from time to time by the Steering Committee in accordance with its terms.
Establishment of the Trust Fund. 1.1 The Trust Fund in the sense of article 187 of the Financial Regulation, is hereby established between the Commission and the Donors to provide a coherent, comprehensive and joint aid response to the manifold and increasing needs arising from the Syrian crisis across the region. In accordance with the Financial Regulation, the Trust Fund shall, from the outset, be open to the participation of all Member States of the European Union and other donors, as defined below.
1.2 The Trust Fund is a fund of monies managed by the Commission, on behalf of the Donors and the European Union, under the responsibility of the authorising officer by delegation appointed by the Commission (the "Manager"), in accordance with the terms of the Constitutive Agreement. The Trust Fund shall not have legal personality.
Establishment of the Trust Fund. 2.1. The Trust Fund is established to support the purpose and objectives of the GAFSP as set forth in the Framework Document. The principles of the governance and operational framework to be applied initially to the GAFSP are set forth in the Framework Document. In case of any conflicts, the provisions of the Governance Document once adopted, shall supersede the provisions of the Framework Document.
Establishment of the Trust Fund. 2.1. The Trust Fund is established to support the purpose and objectives of the SCF. The governance and operational framework applied to the SCF is set out in the SCF Governance Framework Document.
2.2. The Trust Fund shall have the following Sub-Accounts: i) a Program Sub-Account for each Program; ii) the Provisional Sub-Account; and iii) the Investment Income Sub-Account.
Establishment of the Trust Fund. (a) The Company hereby establishes with the Directed Trustee a trust consisting of such sums of money or property as shall from time to time be paid to the Directed Trustee under the Plan, and such earnings, profits, increments, additions and appreciation thereto and thereon as may accrue from time to time. All such sums of money, all investments made therewith or proceeds thereof, and all earnings, profits, increments, appreciation and additions thereto and thereon, less the payments which shall have been made by the Directed Trustee, as authorized herein, to carry out the Plan, are referred to herein as the “Trust Fund”.
(b) The Directed Trustee agrees to perform the duties and obligations imposed by this Trust Agreement. No duties or obligations shall be imposed upon the Directed Trustee with respect to the Trust Fund unless undertaken by the Directed Trustee under the express terms of this Trust Agreement unless imposed upon the Directed Trustee by law. The Directed Trustee is not responsible for any matter affecting the administration of the Plan by the Company, the Committee (as defined in Section 1.7 below), or any other person or persons to whom responsibility for administration of the Plan is delegated pursuant to the terms of the Plan. The Directed Trustee shall have no duty or obligation to advise Participants or Beneficiaries as to the effect of federal or state securities laws on the Plan, the Trust Fund or any distributions therefrom.
1.2 The Directed Trustee shall not be responsible for the collection of any funds required by the Plan to be paid by the Company to the Directed Trustee, nor shall the Directed Trustee be responsible for ensuring the timely payment of contributions. The Directed Trustee is not obligated to see that funds deposited with it are deposited according to the provisions of the Plan.
1.3 It shall be the duty of the Directed Trustee hereunder:
(a) To hold, invest, and reinvest the Trust Fund, as provided in Article II, and to manage, and administer the Trust Fund.
(b) From time to time, on the written direction of the Plan Administrator (as defined in Section 1.7 below), to make payments out of the Trust Fund to such persons, in such manner, in such amounts, and for such purposes as may be specified in such written direction. The Directed Trustee shall be under no liability for any payment made by it pursuant to such a direction, unless it is clear on the direction’s face that the actions to be taken under the direction ...
Establishment of the Trust Fund. 1.1 The International Bank for Reconstruction and Development (“IBRD”) acting in its capacity as trustee (the “Trustee”) will establish the Climate Risk and Early Warning Systems trust fund (the Trust Fund) to receive contributions and will hold in trust, as legal owner, and administer the funds, assets and receipts that constitute the Trust Fund, to support the activities of the CREWS. Without prejudice to the foregoing, and except as otherwise provided herein, the Trustee will administer the funds, assets and receipts that constitute the Trust Fund only for the objectives and scope of the Governance Document adopted by the Steering Committee as may be amended from time to time in accordance with its terms (the “Governance Document”).
1.2 The Trustee is authorized to accept contributions to the Trust Fund from the Contributors. In accepting contributions to the Trust Fund from any Contributor, the Trustee will enter into a contribution agreement (a “Contribution Agreement”) in a form and substance satisfactory to the Trustee.
Establishment of the Trust Fund. (a) Upon the execution of this Trust Agreement, the Trustees shall establish and maintain a Trust Fund with the Custodian. The name of the Trust Fund shall be the “Xxxxx County, Maryland Volunteer Length of Service Award Program Trust Fund”. The Trust Fund shall hold all contributions made pursuant to Section 2.02, together with any income, gains or profits and taking into account any losses. All contributions so made, together with the income therefrom and any other increment thereunder shall be held, managed and administered by the Trustees pursuant to the terms of this Trust Agreement, without distinction between principal and interest. The Trustees may commingle all contributions and other assets for all purposes, including, without limitation, investment, accounting and distributions to Participants and Beneficiaries.
(b) The Trust hereby established shall be irrevocable.
(c) The Trust is intended to be a grantor trust, of which the County 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.
(d) The principal of the Trust, and any earnings thereon shall be held separate and apart from other funds of the County and shall be used exclusively for the uses and purposes of Participants, Beneficiaries and general creditors of the County as herein set forth. Participants and Beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the Trust. Any rights created under the Program and this Trust Agreement shall be mere unsecured contractual rights of Participants and Beneficiaries against the County. Any assets held by the Trust will be subject to the claims of the County’s general creditors under federal and state law in the event of Insolvency, as defined in Section 2.04 herein.
Establishment of the Trust Fund. 1.1. The Trustee shall establish the Trust Fund to receive contributions (the aggregate of all contributions from the Contributors, the “Contributions”) from the Contributors and shall hold in trust, as legal owner, and administer the funds, assets and receipts that constitute the Trust Fund, to support the activities of the Fund in accordance with the terms of this Agreement, including all Annexes and Attachments attached hereto, which constitute an integral part hereof.
1.2. Without prejudice to the generality of the foregoing, and except as otherwise provided herein, the Trustee shall administer the funds, assets and receipts that constitute the Trust Fund only for the purpose of, and in accordance with, the relevant decisions of the Board or other person(s) designated in writing by the Board for that purpose (“Authorized Designee”), when such decisions are provided to the Trustee in writing. The Trustee shall be closely consulted in the development of decisions taken by the Board or the Authorized Designee which relate in any way to the functions of the Trustee performed or to be performed under this Agreement. In the absence of such consultation with and the agreement of the Trustee, the Trustee shall not be bound by any decision of the Board or the Authorized Designee, to the extent that such a decision relates to the functions of the Trustee performed or to be performed under this Agreement.
1.3. The Trustee shall be responsible neither: (a) for inquiring or investigating whether any decisions of the Board or Authorized Designee or Written Instruction (as defined below) provided to the Trustee contravene any existing decisions of the Board or Authorized Designee; nor (b) for making any inquiry or investigation into the facts or matters stated in any such decisions or Written Instructions, and shall have no liability for relying in good faith on any such decisions or Written Instructions, without further inquiry or investigation on its part or otherwise for any actions taken, or omitted to be taken, in good faith.
Establishment of the Trust Fund. 1. EC, DA/UDP and PCFC shall establish an Upland Microfinance Trust Fund (UMTF) with the Land Bank of the Philippines (LANDBANK) Trust Banking Group (TBG) under a separate Trust Agreement (see Annex A) to facilitate the continued provision of microfinance services to upland communities in Southern Mindanao by PCFC- accredited microfinance institutions (MFIs).
2. EC and DA shall be the UMTF Trustors and LANDBANK TBG the Trustee. LANDBANK TBG shall manage the investment of UMTF funds not used by PCFC for on-lending and capacity building. PCFC shall administer and manage the disbursement of UMTF funds and related loan collections following the principles of sound financial management.
3. The UMTF shall be constituted from: a) the fund reflows specified in Appendix 1 from the present Philippine Peso twelve million, five hundred and sixty-nine thousand, two hundred and ninety-six (Php 12,569,296) UDP-PCFC Special Financing Program for the Upland Communities which will be wound up on the signature of this Memorandum of Agreement; b) additional investment funds from the UDP budget initially of up to Philippine Peso fifteen million (Php 15M) to be released within the UDP operating lifetime to match effective demand.
Establishment of the Trust Fund. 2.1. The Trust Fund is established as the Global Partnership for Education Fund II: World Bank as the exclusive Supervising Entity or Implementer to manage Contributions to support the eligible activities of the Global Partnership for Education as described in section 5 of this Xxxxx X.
