Formation of the Trust. The trust formed by the Original Trust Agreement and continued hereby shall be known as "[Education Funding Capital Trust-__]," under which and in which name, but solely to the extent provided in this Agreement, the Owner Trustee and the Co-Owner Trustee may conduct business, make and execute contracts and other instruments and xxx and be sued.
Formation of the Trust. The Trust was formed by the Trustees' filing the Trust's certificate of trust with the Office of the Secretary of State of the State of Delaware in accordance with section 3810 of the Delaware Act. It is the intention of the parties hereto that the Trust created thereby and governed hereby constitutes a statutory trust under the Delaware Act and that this Trust Instrument constitutes its governing instrument.
Formation of the Trust. 5 Section 2.1 Formation of the Trust......................................................................5 Section 2.2 Office......................................................................................5 Section 2.3
Formation of the Trust. 1 Section 3. DEFINITIONS....................................................1
Formation of the Trust. (a) The Trust created hereby shall be known as "Digital Angel Share Trust," in which name the Trustee may conduct the affairs of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue and be sued on behalf of the Trust. ADS hereby appoints Wilmington Xxust Company as trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth herein and in the Act. Wilmington Trust Company hereby agrees to hold the Trust Estate as Trustee on behalf of the Trust upon the terms and conditions set forth herein. The Trustee is hereby authorized to file the Certificate of Trust with the Delaware Secretary of State pursuant to Section 3810 of the Act.
(b) It is the intention of the parties hereto that the Trust constitute a business trust under the Act and that this Trust Agreement constitute the governing instrument of the Trust. Effective as of the date hereof, the Trustee shall have all rights, powers and duties set forth herein and in the Act with respect to accomplishing the purposes of the Trust.
Formation of the Trust. Pursuant to the Original Trust Agreement, the Trust was formed as a statutory business trust under and pursuant to the Delaware Business Trust Act, and on the date of the execution of the Original Trust Agreement, the Trustee caused the Certificate of Trust in the form attached as Exhibit A to be filed with the Secretary of State.
Formation of the Trust. The Trustor - Trustee in this act forms the Revocable Closed-End Investment Trust. For this purpose the Trustor - Trustee deposits the Initial Contribution of US$ 1,472,976.70 Dollars (ONE MILLION FOUR HUNDRED SEVENTY-TWO THOUSAND NINE HUNDRED SEVENTY-SIX DOLLARS 70/100 DOLLARS U.S.) by transfer to the Trust Account. Subsequently, the Member Trustors - Trustees shall deposit in the same Trust Account the corresponding amounts in the proportions indicated in the Initial Contributions Ratio, in compliance with the Purposes of the Trust, and shall also deposit in the Trust Account the additional Contributions required in accordance with the provisions of Section Twelve of this Agreement. The Trust assets, upon authorization by the Technical Committee and the Fiduciary, may be increased subsequent to their signing, with cash and/or securities, by the initial and/or additional contributions made by the Trustors - Trustees. The Fiduciary shall confirm with the Technical Committee [the] amounts received as Initial Contributions in the Trust Account no later than 2 (two) Business Days after the date in which the total amount of the Initial Contributions are duly deposited in the Trust Account. The parties understand that the Trust Assets are transferred to the Fiduciary in compliance with the Purposes of the Trust. The Fiduciary does not assume, and in this act is released from any liability or obligation, express or implied, with respect to the authenticity, ownership or legitimacy of the Trust Assets. [logo] Banamex
Formation of the Trust. (a) The Trust created hereby shall be known as "Digital Angel Share Trust," in which name the Trustee may conduct the affairs of the Trust, make and execute contracts and other instruments on behalf of the Trust and xxx and be sued on behalf of the Trust. ADS hereby appoints Wilmington Trust Company as trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth herein and in the Act. Wilmington Trust Company hereby agrees to hold the Trust Estate as Trustee on behalf of the Trust upon the terms and conditions set forth herein. The Trustee is hereby authorized to file the Certificate of Trust with the Delaware Secretary of State pursuant to Section 3810 of the Act.
(b) It is the intention of the parties hereto that the Trust constitute a business trust under the Act and that this Trust Agreement constitute the governing instrument of the
Formation of the Trust. The Trust was formed and continued as a statutory business trust under and pursuant to the Act, the Original Trust Agreement and the Certificate of Trust of the Trust. It is the intention of the parties hereto that this Agreement amend, restate and supersede the Second Amended and Restated Trust Agreement, as amended by Amendment No. 1, and from and after the Effective Date, constitute the sole governing instrument of the Trust. All Persons owning or otherwise holding interests of beneficial ownership in the Trust shall own or otherwise hold such interests of beneficial ownership pursuant to the provisions of this Agreement.
Formation of the Trust. ORIG as a Depositor hereby assigns, transfers, conveys and sets over to the Trust certain shares of Drillship Alonissos Shareholders Inc. ("DA Shareholders Shares") and Drillship as a Depositor hereby assigns, transfers, conveys and sets over to the Trust certain shares of Drillship Alonissos Owners Inc. ("DA Owners Shares", and together with the DA Shareholders Shares, collectively, the "Deposited Shares"). The Trustee hereby acknowledges receipt of such shares in trust from each Depositor, which amount shall constitute the initial trust estate (the "Trust Estate"). Promptly upon receipt of the DA Shareholder Shares, the Trustee shall issue to ORIG the A Certificate (as hereinafter defined). Promptly upon receipt of the DA Owners Shares, the Trustee shall issue to Drillship the B Certificate (as hereinafter defined). Wilmington Trust Company is hereby appointed as the Trustee of the Trust and accepts such appointment effective as of the date thereof. The Trustee hereby declares that it will hold the Trust Estate in trust for the Holders (as hereinafter defined) of the Certificates. It is the intention of the parties hereto that the Trust created hereby constitute a statutory trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code, § 3801 et seq. (the "Statutory Trust Act"), and that this Agreement constitute the governing instrument of the Trust. The Trustee is hereby authorized and directed to execute and file a certificate of trust, substantially in the form attached hereto as Exhibit A, with the Secretary of State of the State of Delaware in accordance with the Statutory Trust Act. Upon the termination of the Trust, the Trustee is hereby authorized and directed to execute and file a Certificate of Cancellation with the Secretary of State of Delaware in accordance with the Statutory Trust Act.
