Common use of Nature of the Trust Clause in Contracts

Nature of the Trust. The Trust exists solely for the purpose of liquidating the Trust Estate and distributing the proceeds of liquidation to the Holders. In connection with such purposes, it is intended that the Trust may serve as a temporary vehicle for the maintenance and operation of the Trust Estate, with a view to its liquidation and not the conduct of a continuing business. The Trust is not intended to be, shall not be deemed to be, and shall not be treated as, a general partnership, limited partnership, joint venture, corporation, joint stock company or association, nor shall the Trustee, or Holders, or any of them. for any purpose be, or be deemed to be, or be treated in any way whatsoever to be, liable or responsible hereunder as partners or joint venturers. The relationship of the Holders to the Trustee shall be solely that of beneficiaries of the Trust, and their rights shall be limited to those conferred upon them by this Trust Agreement. In no event shall any part of the Trust Estate revert or be distributed to CRC or to any stockholder of CRC, as such, other than Holders entitled thereto under the terms of this Trust Agreement. Unclaimed portions of the Trust Estate shall be subject to disposition in accordance with applicable law of the State or New Jersey. The Trustee shall take only such action as it may deem necessary or advisable to preserve the Trust Estate pending distribution, sale or other disposition, and in no event shall the Trustee otherwise have power or authority to enter into any business with respect to the Trust Estate. However, nothing herein shall be deemed to abridge the powers of the Trustee as set forth in Article Four hereof, all of which powers (without limitations) are considered necessary to the ability of the Trustee to carry out the purpose of the Trust.

Nature of the Trust. The Trust exists solely for the purpose of liquidating the Trust Estate and distributing the proceeds of liquidation to the Holders. In connection with such purposes, it is intended that the Trust may serve as a temporary vehicle for the maintenance and operation of the Trust Estate, with a view to its liquidation and not the conduct of a continuing business. The Trust is not intended to be, shall not be deemed to be, and shall not be treated as, a general partnership, limited partnership, joint venture, corporation, joint stock company or association, nor shall the Trustee, or Holders, or any of them. for any purpose be, or be deemed to be, or be treated in any way whatsoever to be, liable or responsible hereunder as partners or joint venturers. The relationship of the Holders to the Trustee shall be solely that of beneficiaries of the Trust, and their rights shall be limited to those conferred upon them by this Trust Agreement. In no event shall any part of the Trust Estate revert or be distributed to CRC MOBILESTREAM or to any stockholder of CRCMOBILESTREAM, as such, other than Holders entitled thereto under the terms of this Trust Agreement. Unclaimed portions of the Trust Estate shall be subject to disposition in accordance with applicable law of the State or New Jersey. The Trustee shall take only such action as it may deem necessary or advisable to preserve the Trust Estate pending distribution, sale or other disposition, and in no event shall the Trustee otherwise have power or authority to enter into any business with respect to the Trust Estate. However, nothing herein shall be deemed to abridge the powers of the Trustee as set forth in Article Four hereof, all of which powers (without limitations) are considered necessary to the ability of the Trustee to carry out the purpose of the Trust.