Common use of No Power to Engage in Business or Make Investments Clause in Contracts

No Power to Engage in Business or Make Investments. The Trustee shall not, in its capacity as Trustee under this Agreement, engage in any business, commercial or investment activity of any kind whatsoever, except as permitted in Section 6.09 hereof, and shall not under any circumstances use any portion of the Trust Estate to acquire any oil and gas lease, royalty or other mineral interest other than the Royalties and any Other Trust Interest or, except as permitted in Sections 6.09 and 6.14, acquire any other asset. The Trustee shall not accept any contribution to the Trust other than the Royalties and the Other Trust Interests.

Appears in 2 contracts

Samples: Royalty Trust Agreement (Sabine Royalty Trust), Royalty Trust Agreement

AutoNDA by SimpleDocs

No Power to Engage in Business or Make Investments. The Trustee shall not, in its capacity as Trustee under this Agreementthe Trust, engage in any business, business or commercial or investment activity of any kind whatsoever, except as permitted in Section 6.09 hereof, whatsoever and shall not not, under any circumstances circumstances, use any portion of the Trust Estate to acquire any oil and gas lease, royalty or other mineral interest other than the Royalties and any Other Trust Interest Royalties, or, except as permitted in Sections 6.09 3.04 and 6.143.15, acquire any other asset. The Trustee shall have no right or duty to operate the Subject Interests burdened by the Royalties or to market any production therefrom. The Trustee shall not accept any contribution contributions to the Trust other than the Royalties and the Other Trust Interestsinitial cash deposit.

Appears in 2 contracts

Samples: Hugoton Royalty Trust Indenture (Cross Timbers Oil Co), Cross Timbers Oil Co

AutoNDA by SimpleDocs

No Power to Engage in Business or Make Investments. The Trustee shall not, in its capacity as Trustee under this Agreementthe Trust, engage in any business, business or commercial or investment activity of any kind whatsoever, except as permitted in Section 6.09 hereof, whatsoever and shall not not, under any circumstances circumstances, use any portion of the Trust Estate to acquire any oil and gas lease, royalty or other mineral interest other than the Royalties and any Other Trust Interest Royalties, or, except as permitted in Sections 6.09 3.04 and 6.143.15, acquire any other asset. The Trustee shall not accept any contribution contributions to the Trust other than the Royalties and the Other Trust InterestsRoyalties.

Appears in 1 contract

Samples: Royalty Trust Indenture (San Juan Basin Royalty Trust)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!