New Trustees Sample Clauses
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New Trustees. If any Trustee dies, resigns, refuses or becomes unable to act, the other Trustee will appoint another Trustee to fill the vacancy. The person appointed will become vested with all the duties, powers, and authority of the Trustees as if originally named in this Agreement.
New Trustees. The power to appoint a new trustee of these presents shall, subject as hereinafter provided, be vested in the Issuer but no person shall be appointed who shall not previously have been approved by an Extraordinary Resolution. One or more persons may hold office as trustee or trustees of these presents but such trustee or trustees shall be or include a Trust Corporation. Whenever there shall be more than two trustees of these presents the majority of such trustees shall be competent to execute and exercise all the duties, powers, trusts, authorities and discretions vested in the Trustee by these presents provided that a Trust Corporation shall be included in such majority. Any appointment of a new trustee of these presents shall as soon as practicable thereafter be notified by the Issuer to the Principal Paying Agent and the Noteholders.
New Trustees. The Mortgagor must procure that any person who becomes a trustee of the Trust (whether in replacement of or in addition to the Mortgagor) enters into a deed with the Mortgagee whereby it agrees to perform the obligations of the Mortgagor under this mortgage. 325 FORM 20 Version 1 ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇ Land Act ▇▇▇▇ Page 24 of 45 SCHEDULE TITLE REFERENCE 15602076
New Trustees. The New Trustees in their capacity as Trustees of the Settlement hereby covenant with the Purchaser that with effect from the date hereof they shall observe and perform all the obligations on the part of the Trustees as trustees of the Settlement contained in the Agreement and (without prejudice thereto) shall adhere to and be bound by the warranties and indemnities contained in the Agreement and all the provisions thereof shall apply to them as if they had been original signatories in place of the Trustees.
New Trustees. No person shall become a trustee of the Trust after the date hereof, unless such person executes a joinder to this agreement in a form reasonably acceptable to the Trustees and Parent.
New Trustees. The Mortgagor must procure that any person who becomes a trustee of the Trust (whether in replacement of or in addition to the Mortgagor) enters into a deed with the Mortgagee whereby it agrees to perform the obligations of the Mortgagor under this deed.
New Trustees. The Guarantor must procure that any person who becomes a trustee of the Trust (whether in replacement of or in addition to the Guarantor) enters into a deed with PHF whereby it agrees to perform the obligations of the Guarantor under this deed.
New Trustees. (a) The statutory power of appointing new Trustees shall apply to the trusts hereby created and shall at all times be vested in the Society.
(b) The Society may at any time by deed remove any Trustee (but shall not remove a sole Trustee without appointing at least one other in his place).
(c) A corporation may be appointed as Trustee or custodian trustee whether or not it is within the statutory definition of trust corporation.
(d) A trust corporation shall be entitled to remuneration for its services in accordance with its normal published terms from time to time and any other Trustee (including a corporation) engaged in any profession or business shall be entitled to be paid all usual professional or proper charges for business transacted time expended and acts done by him or any partner or employee of his in connection with the trusts hereof including acts which a trustee not being in any profession or business could have done personally.
(e) Any individual Trustee may act as an officer or employee of any company whose securities are comprised in the Trust Fund or of any subsidiary of any such company and may retain for himself any remuneration which he may receive as such officer or employee notwithstanding that any votes or other rights attached to any such securities may have been instrumental either alone or in conjunction with other matters or by reason of their non-exercise in procuring or continuing for him his position as such officer or employee or that his qualification for any such position may be constituted wholly or partly by the holding of such securities.
(f) In the professed execution of the trusts and powers hereof no Trustee (including the Society) shall be liable for any loss to the Trust Fund arising by reason of any improper investment made in good faith or the negligence or fraud of any delegate or agent appointed or employed by him or by any other Trustee (although such appointment or employment was not strictly necessary or expedient) or by reason of any mistakes or omissions made in good faith by any Trustee or by reason of any other matter or thing except wilful and individual wrongdoing on the part of the Trustee who is sought to be made so liable.
New Trustees. The Borrower must procure that any person who becomes a trustee of the Trust (whether in replacement of or in addition to the Borrower) enters into a deed with Rabobank whereby it agrees to perform the obligations identical to those of the Borrower under the Facility Agreement.
New Trustees. 21 14.6 Mortgagor's liability unlimited .................................. 21