Legal Title. Legal title to all of the Trust Property shall at all times be considered to be vested in the Trust, except that the Board of Trustees shall have the power to cause legal title to any Trust Property to be held by or in the name of any Person as nominee, on such terms as the Board of Trustees may determine, in accordance with applicable law. 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, declination to serve, removal 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 (if any) in the Trust Property shall vest automatically in the Trust. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.
Appears in 28 contracts
Samples: Agreement and Declaration of Trust (Federated Hermes Adviser Series), Agreement and Declaration of Trust (Federated Hermes Adviser Series), Agreement and Declaration of Trust (Federated Hermes Adviser Series)
Legal Title. Legal title to all of the Trust Property shall at all times be considered to be vested in the Trust, except that the Board of Trustees shall have the power to cause legal title to any Trust Property to be held by or in the name of any Person as nominee, on such terms as the Board of Trustees may determine, in accordance with applicable law. 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, declination to serve, removal 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 (if any) in the Trust Property shall vest automatically in the Trustremaining Trustees. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.
Appears in 11 contracts
Samples: Agreement and Declaration of Trust (Federated Hermes Core Trust III), Agreement and Declaration of Trust (Federated Hermes Core Trust III), Agreement and Declaration of Trust (Federated Hermes Core Trust III)
Legal Title. Legal title to all of the Trust Fund Property shall at all times be considered to be vested in the TrustFund, except that the Board of Trustees shall have the power to cause legal title to any Trust Fund Property to be held by or in the name of any Person as nominee, on such terms as the Board of Trustees may determine, in accordance with applicable law. The right, title and interest of the Trustees in the Trust Fund Property shall vest automatically in each Person who may hereafter become a Trustee. Upon the resignation, declination to serve, removal or death of a Trustee, he or she shall automatically cease to have any right, title or interest in any of the Trust Fund Property, and the right, title and interest of such Trustee (if any) in the Trust Fund Property shall vest automatically in the TrustFund. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered.
Appears in 6 contracts
Samples: Agreement and Declaration of Trust (Federated Hermes Project & Trade Finance Tender Fund), Agreement and Declaration of Trust (Hedge Fund Guided Portfolio Solution), Agreement and Declaration of Trust (Thrivent Church Loan & Income Fund)
