Legal Title. Legal title to all the Trust Property shall be vested in the Trust as a separate legal entity under the Delaware Act, provided that the Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more of the Trustees with suitable reference to their trustee status, or in a form not indicating any trust, whether in bearer, unregistered or other negotiable form, or in the name of a custodian or subcustodian or a nominee or nominees or otherwise. No creditor of any Trustee shall have any right to obtain possession, or otherwise exercise legal or equitable remedies with respect to, any Trust Property with respect to any claim against, or obligation of, such Trustee in its individual capacity and not related to the Trust. To the extent title to the Trust Property has been vested in the Trustees, the right, title and interest of the Trustees in the Trust Property shall vest automatically in each Person who may hereafter become a Trustee. Upon the resignation, retirement, removal, declination to serve, incapacity, or death of a Trustee, he or she shall automatically cease to have any right, title or interest in any of the Trust Property, and the right, title and interest of such Trustee in the Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.
Appears in 19 contracts
Samples: Agreement and Declaration of Trust (83 Investment Group Income Fund), Agreement and Declaration of Trust (83 Investment Group Income Fund), Agreement and Declaration of Trust (CION Grosvenor Infrastructure Fund)
Legal Title. Legal title to all the Trust Property shall be vested in the Trust as a separate legal entity under the Delaware Act, provided except that the Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more of the Trustees with suitable reference to their trustee status, or in a form not indicating any trust, whether in bearer, unregistered or other negotiable formTrustees, or in the name of a the Trust, or in the name of any other Person as nominee, custodian or subcustodian or a nominee or nominees or otherwisepledgee, on such terms as the Trustees may determine with the same effect as if such Trust Property were held in the name of the Trust; provided that the interest of the Trust therein is appropriately protected. No creditor of any Trustee shall have any right to obtain possession, or otherwise exercise legal or equitable remedies with respect to, any Trust Property with respect to any claim against, or obligation of, such Trustee in its individual capacity and not related to the Trust. To the extent title to the Trust Property has been vested in the Trustees, the The right, title and interest of the Trustees in the any Trust Property held in the name of the Trustees shall vest automatically in each Person person who may hereafter become a TrusteeTrustee upon his due election and qualification. Upon the resignationceasing of any person to be a Trustee for any reason, retirement, removal, declination to serve, incapacity, or death of a Trustee, he or she such person shall automatically cease to have any right, title or interest in any of the Trust PropertyProperty held in the name of such Trustee, and the right, title and interest of such Trustee in the such Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.
Appears in 4 contracts
Samples: Agreement and Declaration of Trust (Paramount Institutional Access Fund), Agreement and Declaration of Trust (Paramount Access Fund), Agreement and Declaration of Trust (Paramount Institutional Access Fund)
Legal Title. Legal title to all the Trust Property shall be vested in the Trust as a separate legal entity under the Delaware Act, provided that the Trustees shall have power to cause legal title to any Trust Property to be held by or in the name of one or more of the Trustees with suitable reference to their trustee status, or in a form not indicating any trust, whether in bearer, unregistered or other negotiable form, or in the name of a custodian or subcustodian or a nominee or nominees or otherwise. No creditor of any Trustee shall have any right to obtain possession, or otherwise exercise legal or equitable remedies with respect to, any Trust Property with respect to any claim against, or obligation of, such Trustee in its individual capacity and not related to the Trust. To the extent title to the Trust Property has been vested in the Trustees, the right, title and interest of the Trustees in the Trust Property shall vest automatically in each Person who may hereafter become a Trustee. Upon the resignation, retirement, removal, declination to serve, incapacity, or death of a Trustee, he or she such Trustee shall automatically cease to have any right, title or interest in any of the Trust Property, and the right, title and interest of such Trustee in the Trust Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.
Appears in 3 contracts
Samples: Declaration and Agreement of Trust (Coatue CTEK Fund), Declaration and Agreement of Trust (Gladstone Alternative Income Fund), Declaration and Agreement of Trust (TCW Private Asset Income Fund)
Legal Title. Legal title to all the Trust Company Property shall be vested in the Trust Company as a separate legal entity under the Delaware ActStatutory Trust Statute, provided that the Trustees shall have power to cause legal title to any Trust Company Property to be held by or in the name of one or more of the Trustees with suitable reference to their trustee status, or in a form not indicating any trust, whether in bearer, unregistered or other negotiable formTrustees, or in the name of a the Company, or in the name of any other Person as nominee, custodian or subcustodian or a nominee or nominees or otherwisepledgee, on such terms as the Trustees may determine, provided that the interest of the Company therein is appropriately protected. No creditor of any Trustee shall have any right to obtain possessionpossession of, or otherwise exercise legal or equitable remedies with respect to, any Trust Company Property with respect to any claim against, or obligation of, such Trustee in its individual capacity and not related to the TrustCompany. To the extent title to the Trust Company Property has been vested in the name of one or more Trustees, the right, title and interest of the Trustees in the Trust Company Property shall vest automatically in each Person person who may hereafter become a TrusteeTrustee upon his due election and qualification. Upon the resignationceasing of any person to be a Trustee for any reason, retirement, removal, declination to serve, incapacity, or death of a Trustee, he or she such person shall automatically cease to have any right, title or interest in any of the Trust Company Property, and the right, title and interest of such Trustee in the Trust Company Property shall vest automatically in the remaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.
Appears in 2 contracts
Samples: Trust Agreement (Pershing Square USA, Ltd.), Agreement and Declaration of Trust (Pershing Square USA, Ltd.)
