Management of the Trust Fund Sample Clauses

Management of the Trust Fund. 2.01 The Trust Fund. Unless the context clearly implies or indicates otherwise, the term "Trust Fund" as of any date means all property of every kind then held under this Agreement by the Trustee or any custodian.
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Management of the Trust Fund. The Commission, under the responsibility of the authorising officer by delegation duly appointed by the Commission, is the Manager of the Trust Fund. The accounting officer of the Commission shall be the accounting officer of the Trust Fund (the "Accounting Officer"). 7.2 Role of the Manager and of the Accounting Officer (a) providing the secretariat for the Trust Fund Board and the Operational Board, including documentation and logistics; (b) ensuring the Trust Fund's Financial Management in accordance with Article 8 and providing all the information needed for the establishment of the financial statements; (c) managing the implementation of the Actions, directly or indirectly through Implementing Partners, in accordance with Article 10; (d) by 15 February of each financial year, preparing the provisional accounts which should comprise: (i) the annual financial statements, prepared in accordance with Article 8.3.4(b); (ii) the annual financial report on the activities financed by the Trust Fund, prepared in accordance with Article 8.3.4(a); (e) preparing an Annual Report on the activities financed by the Trust Fund, their implementation and their performance, including the results of controls and the efficiency and effectiveness of the internal control system and the provisional accounts, which should be approved by 15 February of each financial year by Operational Board and subsequently submitted to the Trust Fund Board;
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Management of the Trust Fund. The Trust Fund is managed by the Commission (trustee) under the responsibility of the authorising officer by delegation appointed by the College of the European Commission. The Commission shall delegate the management tasks to member(s) of its Staff (“Manager(s)”) in compliance with its rules of procedure and shall put in place an organisational structure that reflects the various strategies between the different geographic windows. The Commission will decide to appoint a Manager per window; in such cases, each Manager will carry out the tasks laid down in this Agreement for the activities related to the window for which he/she has been appointed. The accounting officer of the Commission shall be the accounting officer of the Trust Fund (the ‘Accounting Officer’).
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Management of the Trust Fund. 9.1 Any invited member can be invited by the Executive Committee to become a Trustee of the Trust Fund. 9.2 There shall be no less than four Trust Fund Trustees. 9.3 Any Trustee may be removed from office by a resolution passed by a simple majority of other Trustees. 9.4 Unless so removed, every Trustee shall hold office until he/she resigns or ceases to be a mem- ber of the Association. 9.5 Expenditure of Trust funds should be recommended by the Executive Committee but must be approved by the Trust Fund Trustees. Approval by Trustees shall be given by a simple majority. 9.6 One member nominated by the Executive Committee shall sit on the Trust Fund for a period of one year. The Executive Trustee may sit on the trust fund in successive years upon re- nomination by the Executive Committee.
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Management of the Trust Fund. The Commission, under the responsibility of the authorising officer by delegation duly appointed by the Commission, is the Manager of the Trust Fund. The accounting officer of the Commission shall be the accounting officer of the Trust Fund (the "Accounting Officer"). 7.2 Role of the Manager and of the Accounting Officer (a) providing the secretariat for the Trust Fund Board and the Operational Board, including documentation and logistics; (b) ensuring the Trust Fund's Financial Management in accordance with Article 8 and providing all the information needed for the establishment of the financial statements; (c) managing the implementation of the Actions, directly or indirectly through Implementing Partners, in accordance with Article 10; (d) by 15 February of each financial year, preparing the provisional accounts which should comprise: (i) the annual financial statements, prepared in accordance with Article 8.3.4(b); (ii) the annual financial report on the activities financed by the Trust Fund, prepared in accordance with Article 8.3.4(a); (e) preparing an Annual Report on the activities financed by the Trust Fund, their implementation and their performance, including the results of controls and the efficiency and effectiveness of the internal control system and the provisional accounts, which 7 Cumulated changes of the allocations in a work programme, or an individual action if this is adopted independently from the work programme, not exceeding 20% of the maximum allocation to the work programme or individual action shall not be considered substantial, provided that they do not significantly affect their nature and objectives. This may include an increase of the maximum allocation to the work programme or individual action by up to 20%. should be approved by 15 February of each financial year by Operational Board and subsequently submitted to the Trust Fund Board; (f) preparing and submitting the final annual accounts to the Operational Board, for their approval by 15 June of each financial year, and subsequently to the Trust Fund Board, the European Parliament and the Council of the European Union, in accordance with Article 8.3.4(c); (g) preparing 6-month and annual financial reporting in accordance with Article 8.3.4(a); (h) delivering copies of the Annual Report, annual accounts and, as soon as same are available, the financial reporting on the Trust Fund's operations, to each Donor; (i) preparing annual, or where appropriate, semi-annual, disburse...
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Management of the Trust Fund. The Trustee shall have the following powers in relation to the management of the Trust Fund:- 11.1 To cause or permit any person to have and remain in possession or control of the Trust Fund or any part thereof and notwithstanding the generality of the foregoing the Trustee may permit any moneys bonds share certificates or other securities for money or documents of or evidencing title to property real or personal for the time being subject to the trusts hereof to be and remain deposited with one or one only of the Trustees if more than one or with any persons in any part of the world and permit any investment securities or other real or personal property which or any share or interest wherein shall be for the time being subject to the trusts hereof to be and remain invested in the names of nominees or trustees in any part of the world instead of in the names of the Trustee with power to delegate to such persons such of the trust powers and discretions hereby or by law vested in the Trustee with reference to the premises so deposited or the property so invested in the names of such nominees or trustees as the Trustee may consider expedient so to delegate and so that no persons with whom such property is deposited or in whose names such property is vested shall (unless a Trustee hereof) be concerned with the trusts hereof or be responsible for any loss whatsoever resulting either directly or indirectly from the exercise of the powers in this clause hereinbefore contained unless such loss be caused by his own fraud and the Trustee may pay out of the income or capital of the Trust Fund any charges or other expenses incurred on or in connection with any such account or deposit. 11.2 To accept any receipt of a treasurer or other officer of any body of persons as being a good receipt for any payment hereunder notwithstanding that such person may not be authorised to give receipts. 11.3 To keep the whole or any part of the trust property within or without the jurisdiction of the Proper Law of this Settlement. 11.4 From time to time and at such intervals as it shall in its sole discretion think fit to cause the accounts kept by it hereunder to be examined or audited by such person or persons as it shall designate and to pay the costs of such examination or audit out of the capital or income of the Trust Fund.
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Management of the Trust Fund 
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Related to Management of the Trust Fund

  • Management of the Trust The business and affairs of the Trust shall be managed by or under the direction of the Trustees, and they shall have all powers necessary or desirable to carry out that responsibility. The Trustees may execute all instruments and take all action they deem necessary or desirable to promote the interests of the Trust. Any determination made by the Trustees in good faith as to what is in the interests of the Trust shall be conclusive. In construing the provisions of this Declaration, the presumption shall be in favor of a grant of power to the Trustees.

  • Administration of the Trust Fund The administration of the Fund shall be the responsibility of the Trustees. The Board of Trustees are responsible for the operational and financial sustainability of the Trust, and they shall administer the Fund in accordance with the express powers given to them pursuant to this Trust Agreement and the Plans. The terms of this Trust Agreement and the Plans shall be construed and administered so as to comply with the requirements to be an employee life and health trust under subsection 144.1(2) of the Income Tax Act (Canada). Any term of this Trust Agreement or the Plans that would otherwise be inconsistent with the requirements of such provisions shall be modified to the extent necessary to comply with such requirements.‌

  • Administration and Servicing of the Trust Fund Section 3.01 Master Servicer to Act as Master Servicer; Special

  • Establishment of the Trust The Depositor does hereby establish, pursuant to the further provisions of this Agreement and the laws of the State of New York, an express trust to be known, for convenience, as “Deutsche Alt-A Securities Mortgage Loan Trust, Series 2006-AR5” and does hereby appoint HSBC Bank USA, National Association as Trustee in accordance with the provisions of this Agreement.

  • The Trust Fund Xxxxxx Mae, acting in its capacity as Trustee for the Lower Tier REMIC, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee for the Trust Fund established hereby, all of Xxxxxx Mae’s right, title and interest in and to the Lower Tier Regular Classes, including all payments of principal and interest thereon received after the month of the Issue Date.

  • Administration of the Trust (a) The Trustee shall administer the Trust Property for the benefit of the Unitholders. In engaging in such activities, the Trustee shall follow or cause to be followed collection procedures in accordance with the terms of the Trust Agreement, the Underlying Securities, the Swap Agreement, the indemnification offered by the Depositor pursuant to Section 10.05(b) and the Guarantee. The duties of the Trustee shall be performed in accordance with applicable local, State and Federal law. (b) Subject to Article X, the Trustee is hereby authorized to perform, and from time to time hereafter, shall perform only those acts which are described in the Trust Agreement as obligations of the Trustee. Notwithstanding the generality of the foregoing, the Trustee is hereby specifically authorized to do the following on behalf of the Trust: to issue the Certificates evidencing Units; to execute and deliver and perform its obligations and exercise its rights under the Swap Agreement; to establish and maintain the Unit Account hereunder; to accept delivery of the Underlying Securities and the Swap Agreement; to pledge the assets of the Trust (including the Underlying Securities) to secure the obligations of the Trust including obligations under the Swap Agreement; to sell the Underlying Securities through the Selling Agent in accordance with Section 9.05; to make Permitted Investments pursuant to Section 3.06; to liquidate the Trust pursuant to Article IX and to make distributions pursuant to Article IV. (c) Notwithstanding anything to the contrary herein, the Trust shall not engage in any business or activities other than receiving the Underlying Securities and any Credit Support or other Trust Property and entering into the Swap Agreement as provided herein, holding the Underlying Securities, the Swap Agreement and any Credit Support (or other Trust Property), issuing Certificates evidencing Units, making Permitted Investments in accordance with Section 3.06 and performing its obligations hereunder and under the Swap Agreement; provided, however, that during its existence the Trust shall not engage in any business or activity which will cause it to be or become an open-end investment company, unit investment trust or face-amount certificate company that is or is required to be registered under Section 8 of the Investment Company Act, or to be or become a closed-end investment company required to be registered, but not registered, under the Investment Company Act. (d) The Trustee shall not sell, assign, pledge or otherwise transfer the Underlying Securities, the Swap Agreement, any Credit Support or other Trust Property, or any interest of the Trust therein, to any Person or Persons, except to a successor trustee as provided in Section 10.07, through the Selling Agent in accordance with Section 9.05, in accordance with Section 10.02(a)(x), as required under any Swap Agreement or as otherwise expressly permitted hereunder. This section shall not be construed to prohibit transfers of the Units. (e) The Trustee shall have the legal power to exercise all of the rights, powers and privileges of holders of the Underlying Securities in which the Units evidence an interest; provided, however, that the exercise of such powers shall be subject to the provisions of this Section 3.02, Article X and the other provisions hereof. However, neither the Trustee (except as specifically provided herein or in the TIA) nor the Depositor shall be under any obligation whatsoever to appear in, prosecute or defend any action, suit or other proceeding in respect of Underlying Securities or Units. (f) Except for actions expressly authorized by the Trust Agreement, the Trustee shall not take actions reasonably likely to (nor fail to take actions, if such failure would be reasonably likely to) (i) impair the interests of the Trust in any Underlying Security, any Credit Support, the Swap Agreement or the Guarantee (or any other Trust Property); (ii) impair the value of any Underlying Security, any Credit Support, the Swap Agreement or the Guarantee (or any other Trust Property); or (iii) alter the classification of a Trust for U.S. federal income tax purposes. (g) Except as expressly provided in the Trust Agreement, the Trustee shall have no power to vary the corpus of the Trust Property including by (i) accepting any substitute obligation or asset for a Underlying Security or any Credit Support, (ii) entering into any amendment or modification of the Swap Agreement or the Underlying Securities, (iii) accepting any substitute guarantee for the Guarantee, (iv) adding any other investment, obligation or security to the Trust Property, (v) withdrawing from the Trust Property any Underlying Securities or Credit Support, (vi) terminating the Swap Agreement except in accordance with its terms or (vii) rejecting or otherwise failing to accept the continuing benefits of the Guarantee.

  • Termination of the Trust The respective obligations and responsibilities of the Company, the Guarantor and the Trustee with respect to the Trust shall terminate upon the distribution to all Holders of the Certificates and the Trustee of all amounts required to be distributed to them pursuant to this Agreement and the disposition of all property held as part of the Trust Property; PROVIDED, HOWEVER, that in no event shall the Trust continue beyond one hundred ten (110) years following the date of the earliest execution of this Agreement. Notice of any termination, specifying the Regular Distribution Date (or Special Distribution Date, as the case may be) upon which the Certificateholders may surrender their Certificates to the Trustee for payment of the final distribution and cancellation, shall be mailed promptly by the Trustee to Certificateholders not earlier than the 60th day and not later than the 20th day next preceding such final distribution specifying (A) the Regular Distribution Date (or Special Distribution Date, as the case may be) upon which the proposed final payment of the Certificates will be made upon presentation and surrender of Certificates at the office or agency of the Trustee therein specified, (B) the amount of any such proposed final payment, and (C) that the Record Date otherwise applicable to such Regular Distribution Date (or Special Distribution Date, as the case may be) is not applicable, payments being made only upon presentation and surrender of the Certificates at the office or agency of the Trustee therein specified. The Trustee shall give such notice to the Registrar at the time such notice is given to Certificateholders. Upon presentation and surrender of the Certificates, the Trustee shall cause to be distributed to Certificateholders amounts distributable on such Regular Distribution Date (or Special Distribution Date, as the case may be) pursuant to Section 4.02. In the event that all of the Certificateholders shall not surrender their Certificates for cancellation within six months after the date specified in the above-mentioned written notice, the Trustee shall give a second written notice to the remaining Certificateholders to surrender their Certificates for cancellation and receive the final distribution with respect thereto. No additional interest shall accrue on the Certificates after the Regular Distribution Date (or Special Distribution Date, as the case may be). In the event that any money held by the Trustee for the payment of distributions on the Certificates shall remain unclaimed for two years (or such lesser time as the Trustee shall be satisfied, after sixty days' notice from the Company, is one month prior to the escheat period provided under applicable law) after the final distribution date with respect thereto, the Trustee shall pay to each Loan Trustee the appropriate amount of money relating to such Loan Trustee and shall give written notice thereof to the related Owner Trustees and the Company.

  • Establishment of Trust Account The Owner Trustee, for the benefit of the Certificateholders, shall establish and maintain in the name of the Trust an Eligible Deposit Account (the "Certificate Distribution Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholders. The Owner Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Certificate Distribution Account and in all proceeds thereof. Except as otherwise expressly provided herein, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Deposit Account, the Owner Trustee (or the Depositor on behalf of the Owner Trustee, if the Certificate Distribution Account is not then held by the Owner Trustee or an affiliate thereof) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new Certificate Distribution Account as an Eligible Deposit Account and shall transfer any cash and/or any investments to such new Certificate Distribution Account.

  • Replacement of the Trustee (A) Notwithstanding anything to the contrary in this Section 10.07, a resignation or removal of the Trustee, and the appointment of a successor Trustee, will become effective only upon such successor Trustee’s acceptance of appointment as provided in this Section 10.07. (B) The Trustee may resign at any time and be discharged from the trust created by this Indenture by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes then outstanding may remove the Trustee by so notifying the Trustee and the Company in writing. The Company may remove the Trustee if: (i) the Trustee fails to comply with Section 10.09; (ii) the Trustee is adjudged to be bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (iii) a custodian or public officer takes charge of the Trustee or its property; or (iv) the Trustee becomes incapable of acting. (C) If the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, then (i) the Company will promptly appoint a successor Trustee; and (ii) at any time within one (1) year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the Notes then outstanding may appoint a successor Trustee to replace such successor Trustee appointed by the Company. (D) If a successor Trustee does not take office within sixty (60) days after the retiring Trustee resigns or is removed, then the retiring Trustee, the Company or the Holders of at least ten percent (10%) in aggregate principal amount of the Notes then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee. (E) If the Trustee, after written request by a Holder of at least six (6) months, fails to comply with Section 10.09, then such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (F) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company, upon which notice the resignation or removal of the retiring Trustee will become effective and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will send notice of its succession to Holders. The retiring Trustee will, upon payment of all amounts due to it under this Indenture, promptly transfer all property held by it as Trustee to the successor Trustee, which property will, for the avoidance of doubt, be subject to the lien provided for in Section 10.06(D).

  • Expenses of the Trust NOT PAID BY THE ADVISER. The Adviser will not be required to pay any expenses which this Agreement does not expressly make payable by it. In particular, and without limiting the generality of the foregoing but subject to the provisions of Section 3, the Adviser will not be required to pay under this Agreement: (a) any and all expenses, taxes and governmental fees incurred by the Trust prior to the effective date of this Agreement; (b) without limiting the generality of the foregoing clause (a), the expenses of organizing the Trust (including without limitation, legal, accounting and auditing fees and expenses incurred in connection with the matters referred to in this clause (b)), of initially registering shares of the Trust under the Securities Act of 1933, as amended, and of qualifying the shares for sale under state securities laws for the initial offering and sale of shares; (c) the compensation and expenses of Trustees who are not interested persons (as used in this Agreement, such term shall have the meaning specified in the 1940 Act) of the Adviser and of independent advisers, independent contractors, consultants, managers and other unaffiliated agents employed by the Trust other than through the Adviser; (d) legal, accounting, financial management, tax and auditing fees and expenses of the Trust (including an allocable portion of the cost of its employees rendering such services to the Trust); (e) the fees and disbursements of custodians and depositories of the Trust's assets, transfer agents, disbursing agents, plan agents and registrars; (f) taxes and governmental fees assessed against the Trust's assets and payable by the Trust; (g) the cost of preparing and mailing dividends, distributions, reports, notices and proxy materials to shareholders of the Trust; (h) brokers' commissions and underwriting fees; (i) the expense of periodic calculations of the net asset value of the shares of the Trust; and (j) insurance premiums on fidelity, errors and omissions and other coverages.

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