Nature of Trust. The Trust shall be a trust with transferable shares under the laws of The State of Delaware, of the type defined in Title 12, Chapter 38, Section 3801 of the Delaware Code as a business trust. 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 or joint stock company. The Shareholders shall be beneficiaries and their relationship to the Trustees shall be solely in that capacity in accordance with the rights conferred upon them hereunder.
Nature of Trust. 2 SECTION 1.4. Definitions ............................................... 2 SECTION 1.5. Real Property to be Converted into Personal Property ...... 5
Nature of Trust. The Trust shall be a trust with transferable shares under the laws of The Commonwealth of Massachusetts, of the type referred to in Section 1 of Chapter 182 of the Massachusetts General Laws and commonly termed a Massachusetts business trust. 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 or joint stock company. The Shareholders shall be beneficiaries and their relationship to the Trustees shall be solely in that capacity in accordance with the rights conferred upon them hereunder.
Nature of Trust. 2 1.3 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Nature of Trust. The Trust is a business trust of the type referred to in Section 3801(a) of the Delaware Business Trust Act, and without limiting the provisions hereof, the Trust may have and exercise all powers which may be exercised by such a trust. 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, or joint stock company or association for purposes of Delaware law or the laws of any other state of the United States. Neither the Trustees nor the Beneficiary shall be deemed to be, or be treated, in any way as partners or joint venturers or as agents of one another, or liable or responsible as such hereunder. The relationship of the Beneficiary to the Trustees shall be solely that of the beneficiary of the Trust, and its rights shall be limited to those conferred upon it by this Agreement and, to the extent permissible under the Delaware Business Trust Act and not inconsistent herewith, the Delaware Business Trust Act.
Nature of Trust. 2 SECTION 1.4. Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 SECTION 1.5. Real Property to be Converted into Personal Property . . . . . . . . . . . . . 5
Nature of Trust. 3 Section 1.4 Definitions..................................................3
Nature of Trust. The Liquidation Trust is irrevocable but subject to amendment and waiver as provided in this Agreement. The Liquidation Trust is not intended to be, and shall not be deemed to be or treated as, a general partnership, limited partnership, limited liability partnership, joint venture, corporation, limited liability company, joint stock company or association, nor shall the Liquidation Trustee, or the Liquidation Trust Beneficiaries, or any of them, for any purpose be, or be deemed to be or treated in any way whatsoever to be, liable or responsible hereunder as partners or joint venturers. The relationship of the Liquidation Trust Beneficiaries, on the one hand, to the Liquidation Trust and the Liquidation Trustee, on the other hand, shall not be deemed a principal or agency relationship, and their rights shall be limited to those conferred upon them by this Agreement, the Plan and the Confirmation Order.
Nature of Trust. The Trust is irrevocable, but this Trust Agreement is subject to amendment, supplement and waiver as provided in this Trust Agreement. Except for tax purposes to the extent otherwise provided herein, the Trust is not intended to be, and shall not be deemed to be or treated as, a general partnership, limited partnership, limited liability partnership, joint venture, corporation, limited liability company, joint stock company, or association, nor shall the Trustee, or the Certificateholders, or any of them, for any purpose be, or be deemed to be or treated in any way whatsoever to be, liable or responsible hereunder as partners or joint venturers. The relationship of the Certificateholders, on the one hand, to the Trust and the Trustee, on the other hand, shall not be deemed a principal or agency relationship, and their rights shall be limited to those conferred upon them by this Trust Agreement.
Nature of Trust. The Trust is a real estate investment trust within the meaning of Title 8 (as hereinafter defined).
