Family Trust. Family Trust shall mean, with respect to any individual, any trust created for the benefit of one or more of such individual's Related Persons and controlled by such individual.
Family Trust. A trust for the benefit of LKS or SSC or for the benefit of a spouse or lineal descendant (whether natural or legally adopted) of either LKS or SSC (a “Family Trust”); or
Family Trust in relation to any person, trusts established by that person in relation to which such person and/or Family Members of that person are the principal beneficiaries thereof; Flotation: the effective admission of all the Shares (or the shares of any holding company of the Company or other member of the Group (excluding Investorco and its holding companies)) to listing on a recognised investment exchange;
Family Trust. The Paisley Family Trust and the Barbadian Trusts and no other corporate or other proceedings on the part of Company, any Subsidiary, the ICL Principals, ICL or any Shareholder are necessary to authorize the execution and delivery of this Agreement and the Company Transaction Agreements or to consummate the transactions contemplated hereby or thereby, except for the concurrence of the Subordinated Lenders. This Agreement has been duly and validly executed and delivered by Company, the ICL Principals, the Barbadian Trusts and ICL, as attorney-in-fact for the Shareholders not signing this Agreement, and constitutes, and upon execution and delivery thereof as contemplated by this Agreement, the Company Transaction Agreements will constitute, the legal, valid and binding agreements of Company, the ICL Principals and the Shareholders, enforceable against Company, the ICL Principals and the Shareholders in accordance with its and their respective terms, except to the extent that enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors' rights generally and by principles of equity regarding the availability of remedies (COLLECTIVELY, THE "ENFORCEABILITY EXCEPTIONS"). The Powers of Attorney are in full force and effect and ICL has full authority under the Powers of Attorney to execute this Agreement and the Company Transaction Agreements as attorney-in-fact for the Shareholders not signing this Agreement, to bind such Shareholders to the obligations of the Shareholders set forth in this Agreement and the Company Transaction Agreements, and to transfer the Company Common Shares to Newco II as contemplated by this Agreement.
Family Trust. The Trustee shall set aside a pecuniary amount which will impose a tax under Code Section 2001 which is equal to the unified credit available to my estate, which pecuniary amount shall then be reduced by the sum of:
(1) The aggregate amount of medical and administration expenses not deducted in determining my taxable estate;
(2) The aggregate pecuniary amount of all property included in my gross estate and not deducted under Code Sections 2055 and 2056 in determining my taxable estate;
(3) The amount of adjusted taxable gifts; and
(4) All state death and succession taxes paid from my residuary estate or trust and not reimbursed to my estate or trust. My Trustee shall have the right to fund the Family Trust in cash or in kind, or partly by each. The property shall be at estate tax values and may be distributed on a non-pro rata basis without regard to its income tax basis, and shall be fairly representative of appreciation or depreciation in the value of all property available to fund the Family Trust. It is our intention to fully utilize the unified credit available to the estate of the first spouse to die. Should there be no federal estate tax, all trust property shall be administered according to the Family Trust. During the lifetime of the surviving spouse, the trustee shall pay to or apply for the benefit of the survivor all the net income from the Family Trust, payable in quarterly installments, and shall pay to or apply for the survivor’s benefit out of the principal of the Trust such sums as, in the opinion of the Trustee, shall be necessary for his or her health, education, maintenance and/ or support.
Family Trust. A trust comes into being through an agreement between the founder and the trustees. Assets are to the trust and a loan account (debt) is created, or assets can be donated, but with donation tax implications.
Family Trust. The Paisley Family Trust, Imperial Capital Limited, a corporation organized under the laws of the Province of Ontario ("ICL"), Cold Trust, Global Investment Trust, Freezer Trust, Storage Trust, Directory Trust and Publisher Trust; (ii) the closing of the acquisition by Parent or a subsidiary of Parent of all of the outstanding capital stock of Web YP, Inc. ("WEB") (Big Stuff and Web are sometimes collectively referred to as "WORLDPAGES") whether by merger, exchange or otherwise; (iii) the redemption of the promissory notes (collectively, the "GREAT WESTERN NOTES") in the aggregate original principal amount of Fifteen Million Dollars ($15,000,000.00) (plus accrued but unpaid interest at the time of redemption) owed by Parent to X'Xxxx and certain other former shareholders of Great Western Directories, Inc. (collectively, the "GREAT WESTERN SHAREHOLDERS") by the issuance of Parent Common Stock to the Great Western Shareholders; and (iv) the satisfaction of the other conditions to closing set forth in this Restated Agreement, the Restated Company Agreement and the Restated Web YP Agreement.
Family Trust in relation to any person, trusts established by that person in relation to which only that person and/or his Family Members are capable of being beneficiaries; First Deferred Consideration Period: the period commencing on the Completion Date and ending on 31 March 2014 (both dates inclusive); First Deferred Consideration Statement: the statement agreed or determined in accordance with clause 8.1; First Tranche Deferred Consideration: the sum of £35,000,000, as adjusted pursuant to clause 4.2; Fundamental Claim: any claim by the Purchaser for breach of any Fundamental Warranty; Fundamental Warranties: the Title and Capacity Warranties and the Vendors’ Warranties set out at paragraphs 3 (Information), 6 (Constitution) and 7 (Solvency) of part 1 of schedule 5 (Vendors’ Warranties);
Family Trust. Property that is to be held as the Family Trust shall be held under this Article and all references to "Family Trust" shall be to the trusts held under this Article.
Family Trust. The trustees of the Family Trust may transfer Shares to the beneficiaries entitled to them under the provisions of the Family Trust.
