Intention of Parties to Establish Trust. This Agreement is not intended to create and shall not be interpreted as creating a corporation, association, partnership, or joint venture of any kind for purposes of federal income taxation or for any other purpose.
Intention of Parties to Establish Trust. This Trust Agreement is not intended to create, and shall not be interpreted as creating, an association, partnership or joint venture of any kind. It is intended as a trust to be governed and construed in all respects as a trust.
Intention of Parties to Establish Trust. This Trust Agreement is intended to create a trust without transferable certificated beneficial interests (except as permitted by operation of law) and the Trust created hereunder shall be governed and construed in all respects as a trust.
Intention of Parties to Establish Trust. This Trust Agreement is intended to create a trust for federal income tax purposes and, to the extent provided by law, shall be governed and construed in all respects as such a trust and any ambiguity herein shall be construed consistent herewith and, if necessary, this Trust Agreement may be amended to comply with such federal income tax laws, which amendments may apply retroactively.
Intention of Parties to Establish Trust. This Agreement is intended to create a liquidating trust and is not intended to create, a corporation, association, partnership, or joint venture of any kind for purposes of Federal income taxation or for any other purpose.
Intention of Parties to Establish Trust. This Agreement is intended to create a liquidating trust for U.S. federal income tax purposes (including, without limitation, for purposes of IRS Revenue Procedure 94-45, 1994-2 C.B. 684), and shall be governed and construed in all respects consistently with such intent. Notwithstanding anything to the contrary contained herein, any ambiguity in this Agreement shall be construed consistently with the immediately preceding sentence, and, if necessary, this Agreement may be amended to comply with such federal income tax laws, which amendments may apply retroactively.
Intention of Parties to Establish Trust. This Agreement is not intended to create and shall not be interpreted as creating a corporation, association or similar entity; provided, however, that notwithstanding anything contained herein to the contrary, the Trust shall be treated as a partnership for U.S. federal income tax purposes. This Agreement is intended to create a trust without transferable shares and the Trust created hereunder shall be governed and construed in all respects as a trust except as contemplated by Section 2.3 of this Agreement.
Intention of Parties to Establish Trust. This Agreement is not intended to create, and shall not be interpreted as creating, an association, partnership or joint venture of any kind. It is intended as a trust to be governed and construed in all respects as a trust. In addition, neither the Trustees nor the Beneficiaries shall be deemed to be, or be treated in any way whatsoever to be, liable or responsible hereunder as partners or joint venturers. The relationship of the Beneficiaries to the Trustees shall be solely that of beneficiaries of a trust, and their rights shall be limited to those conferred upon them by this Agreement.
Intention of Parties to Establish Trust. It is the intention of the parties hereto that the trust created by this Agreement constitute a "statutory trust" under the Statutory Trust Act and that this Agreement constitute the governing instrument of such statutory trust. This Agreement is not intended to create a partnership, joint-stock association, a "taxable mortgage pool" or any association taxable as a corporation for federal income tax purposes. The Trustee shall have power and authority and is hereby authorized and empowered to execute and file the Certificate of Trust in the office of the Secretary of State of the State of Delaware. Effective as of the date hereof, the Trustee shall have all the rights, powers and duties set forth herein and in the Statutory Trust Act with respect to accomplishing the purposes of the Trust.
Intention of Parties to Establish Trust. This Trust Agreement is intended to create a statutory trust under the Delaware Statutory Trust Act, and this Trust Agreement and the Trust created hereunder shall be governed and construed in all respects as such. Upon the filing of the Conversion Documents and the completion of the Conversion, this Trust Agreement shall continue in full force and effect and shall constitute the governing instrument (as defined in the Delaware Statutory Trust Act) of the Trust, and the Trust shall thereafter constitute a Delaware statutory trust and shall be subject to the provisions of the Delaware Statutory Trust Act.
