Common use of Grantor Trust Status Clause in Contracts

Grantor Trust Status. The Trust has been duly created and is validly existing and in good standing as a statutory trust under the Delaware Act with the power and authority to own property and to conduct its business as described in the Registration Statement, the Disclosure Package and the Prospectus and to enter into and perform its obligations under this Agreement and the Depositary Trust Agreement; the Trust is and will be classified for U.S. federal income tax purposes as a grantor trust and not as an association taxable as a corporation; and the Trust is not and will not be treated as a consolidated subsidiary of the Initial Depositor pursuant to generally accepted accounting principles. Any certificate signed by any officer of the Initial Depositor or the Trust and delivered to the Underwriters or to counsel for the Underwriters in connection with the offering of the Receipts shall be deemed a representation and warranty by the Initial Depositor or the Trust (and not such officer in an individual capacity), as applicable, to the Underwriters as to the matters covered thereby.

Grantor Trust Status. The Trust has been duly created and is validly existing and in good standing as a statutory trust under the Delaware Act with the power and authority to own property and to conduct its business as described in the Registration Statement, the Disclosure Package and the Prospectus and to enter into and perform its obligations under this Agreement and the Depositary Trust Agreement; the Trust is and will be classified for U.S. federal income tax purposes as a grantor trust and not as an association taxable as a corporation; and the Trust is not and will not be treated as a consolidated subsidiary of the Initial Depositor pursuant to generally accepted accounting principles. Any certificate signed by any officer of the Initial Depositor or the Trust and delivered to the Underwriters Placement Agent or to counsel for the Underwriters Placement Agent in connection with the offering of the Receipts shall be deemed a representation and warranty by the Initial Depositor or the Trust Trust, as applicable, (and not such officer in an individual capacity), as applicable, ) to the Underwriters Placement Agent as to the matters covered thereby.