Gifts of Trust Property during Settlor’s Lifetime Sample Clauses

Gifts of Trust Property during Settlor’s Lifetime. Any distribution from or of interests in Trust Property to any person (whether a beneficiary of this Trust or not) which is in the nature of a gift made by or at the direction of the Settlor, or which is consistent with any statement of intent concerning estate planning objectives expressed by the Settlor, or consistent with any donative intent expressed in Settlor’s durable power of attorney for asset management, or consistent with any pattern of gifting by the Settlor, shall be deemed to have been made by the Settlor in her individual and personal capacity, and any transfer tax credit, exclusion or deduction then available to the Settlor shall be applied to the distribution. No such gifts shall be made by a Trustee who is not the Settlor, to himself or to any member of his or her family, unless
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Related to Gifts of Trust Property during Settlor’s Lifetime

  • Insurance during Concession Period The Concessionaire shall effect and maintain at its own cost, during the Construction Period and the Operation Period, such insurances for such maximum sums as may be required under the Financing Agreements, and the Applicable Laws, and such insurances as may be necessary or prudent in accordance with Good Industry Practice. The Concessionaire shall also effect and maintain such insurances as may be necessary for mitigating the risks that may devolve on the Authority as a consequence of any act or omission of the Concessionaire during the Construction Period. The Concessionaire shall procure that in each insurance policy, the Authority shall be a co- insured and that the insurer shall pay the proceeds of insurance into the Escrow Account. For the avoidance of doubt, the level of insurance to be maintained by the Concessionaire after repayment of Senior Lenders‟ dues in full shall be determined on the same principles as applicable for determining the level of insurance prior to such repayment of Senior Lenders‟ dues.

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