Mitigation Trust Sample Clauses

The MITIGATION TRUST clause establishes a legal trust specifically designed to manage and distribute funds or resources intended for mitigation purposes, such as addressing environmental impacts or fulfilling regulatory obligations. Typically, this clause outlines the creation of a trust, appoints a trustee, and details the procedures for funding, administering, and disbursing assets to approved mitigation projects or beneficiaries. Its core practical function is to ensure that designated mitigation resources are securely managed and used exclusively for their intended purposes, thereby providing transparency, accountability, and compliance with legal or regulatory requirements.