Life of the Grantor Sample Clauses

Life of the Grantor. During the life of the Grantor, the Trustee shall hold, manage, and administer the Trust Estate and at the Grantor’s request, dispose of the net income and principal. In the absence of any such request, the Trustee may pay to the benefit of the Grantor any part of the net income and principal as the Trustee deems advisable, with full power to accumulate any income not paid and to hold such income and property for later use. In the event of the Grantor becomes incapacitated, the Trustee is authorized to use any part or all of the net income and principal for the benefit of the Grantor as the Trustee deems advisable, with full power to accumulate any income not paid and to hold for future use or to add to the principal.
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Related to Life of the Grantor

  • Credit Union Lien and Security Interest To the extent you owe the Credit Union money as a borrower, guarantor, indorser or otherwise, the Credit Union has a lien on any or all of the funds in any account in which you have an ownership interest at the Credit Union, regardless of the source of the funds. The Credit Union may apply these funds in any order to pay off your indebtedness without further notice to you. If the Credit Union chooses not to enforce its lien, the Credit Union does not waive its right to enforce the lien at a later time. In addition, you grant the Credit Union a consensual security interest in your accounts and agree the Credit Union may use the funds from your accounts to pay any debt or amount owed the Credit Union, except obligations secured by your dwelling, unless prohibited by applicable law. All accounts are nonassignable and nontransferable to third parties.

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