Legal Title. Legal title to all the Trust Property shall be vested in the Trust 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, or in the name of any other Person as nominee, custodian or pledgee, on such terms as the Trustees may determine, provided that the interest of the Trust therein is appropriately protected. 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 his due election and qualification. Upon the ceasing of any person to be a Trustee for any reason, such person 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 35 contracts
Samples: Agreement and Declaration of Trust (Axxes Opportunistic Credit Fund), Agreement and Declaration of Trust (Axxes Opportunistic Credit Fund), Agreement and Declaration of Trust (Axxes Private Markets Fund)
Legal Title. Legal title to all the Trust Property shall be vested in the Trust Trustees as joint tenants 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, or in the name of the Trust, or in the name of any other Person as nominee, custodian or pledgee, on such terms as the Trustees may determine, provided that the interest of the Trust therein is appropriately protected. 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 his due election and qualification. Upon the ceasing of any person to be a Trustee for any reason, such person 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 9 contracts
Samples: Agreement and Declaration of Trust (Cbre Global Real Estate Income Fund), Agreement and Declaration of Trust (Cushing MLP Infrastructure Fund II), Agreement and Declaration of Trust (Cushing MLP Infrastructure Master Fund)
Legal Title. Legal title to all the Trust Property shall be vested in the Trust 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, or in the name of any other Person as nominee, custodian or pledgee, on such terms as the Trustees may determine, provided that the interest of the Trust therein is appropriately protected. 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 his or her due election and qualification. Upon the ceasing of any person to be a Trustee for any reason, such person 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 7 contracts
Samples: Agreement and Declaration of Trust (Calamos Aksia Private Equity & Alternatives Fund), Agreement and Declaration of Trust (StepStone Private Credit Income Fund), Agreement and Declaration of Trust (Accordant ODCE Index Fund)
Legal Title. Legal title to all the Trust Property shall be vested in the Trust 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, or in the name of any other Person as nominee, custodian or pledgee, on such terms as the Trustees may determine, provided that the interest of the Trust therein is appropriately protected. The right, title and interest of the Trustees in the Trust Property shall vest automatically in each person individual who may hereafter become a Trustee upon his due election and qualification. Upon the ceasing of any person individual to be a Trustee for any reason, such person 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: Agreement and Declaration of Trust (Pine Grove Alternative Institutional Fund), Trust Agreement (Pine Grove Alternative Institutional Fund), Trust Agreement (Pine Grove Alternative Fund)
Legal Title. Legal title to all the Trust Property shall be vested in the name of the Trust except that or any Series thereof, in the Trustees shall have power to cause legal title to any Trust Property to be held by or as joint tenants, in the name of one or more of the Trustees, Trustees or in the name of any other Person as nominee, custodian or pledgee, on such terms as the Trustees may determine, provided that the interest of the Trust or any Series thereof therein is appropriately protected. The Any right, title and interest of the Trustees any Trustee in the any Trust Property shall vest automatically in each person who may hereafter become a successor Trustee upon his due election or appointment and qualification. Upon the ceasing of any person to be a Trustee for any reason, such person shall automatically cease to have any right, title or interest in any of the Trust Property, and the any right, title and interest of such Trustee in the any 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 1 contract
Samples: Agreement and Declaration of Trust (Baron Capital Funds Trust)
