Powers of the Trustee. Except as otherwise provided under Title 27, Chapter 17A of the Code of Alabama 1975, Trustee shall have the powers normally granted to trustees under Alabama law, specifically including, but not by way of limitation, the power to: 4.1 Collect, receive and provide receipt(s) for any and all items of income and principal that may be derived from the assets placed under the terms of this Trust Agreement and to allocate same either to principal or to income, or partly to one and partly to the other, in accordance with the usual and customary accounting practices of Trustee. 4.2 Invest and reinvest the assets of the Preneed Trust Fund pursuant to the provisions of this Trust Agreement and applicable law. 4.3 Treat stock dividends, stock splits and dividends payable in the securities of another company, extraordinary cash or non-cash dividends, liquidating dividends, stock purchase rights, warrants and options of all kinds, and all similar property and the right to property, as income or as principal, or partly one and partly the other, in accordance with usual and customary accounting practices of Trustee. 4.4 Acquire and hold any stock, securities, real estate or any other property, real or personal, in the name of Trustee without disclosing its capacity, or in the name of any other nominee without disclosing its capacity. 4.5 Vote all shares of stock in the Preneed Trust Fund howsoever the certificates therefore may be issued, on all matters, and to give special or general proxies to any person, or persons, with or without the power of substitution. 4.6 Execute, acknowledge, deliver and accept any and all deeds, deeds of trust, releases, mortgages, certificates, documents, affidavits, declarations and any and all other papers and instruments whatsoever deemed by Trustee necessary or appropriate to carrying out the powers and authority herein granted. 4.7 Exercise any option or privilege to buy, sell, exchange, or convert bonds, notes, stock or real, personal or mixed property, of any kind. 4.8 Pay from income of the Preneed Trust Fund, the trustee fees as provided for herein and any other expenses which may from time to time be permitted under Title 27, Chapter 17A of the Code of Alabama 1975.
Appears in 12 contracts
Samples: Preneed Funeral Merchandise and Services Master Trust Agreement, Preneed Funeral Merchandise and Services Trust Agreement, Preneed Cemetery Merchandise and Services Master Trust Agreement
Powers of the Trustee. Except as otherwise provided under Title 27, Chapter 17A of the Code of Alabama 1975, Trustee shall have the powers normally granted to trustees under Alabama law, specifically including, but not by way of limitation, the power to:
4.1 Collect, receive and provide receipt(s) for any and all items of income and principal that may be derived from the assets placed under the terms of this Trust Agreement and to allocate same either to principal or to income, or partly to one and partly to the other, in accordance with the usual and customary accounting practices of Trustee.
4.2 Invest and reinvest the assets of the Preneed Endowment Care Trust Fund pursuant to the provisions of this Trust Agreement and applicable law.
4.3 Treat stock dividends, stock splits and dividends payable in the securities of another company, extraordinary cash or non-cash dividends, liquidating dividends, stock purchase rights, warrants and options of all kinds, and all similar property and the right to property, as income or as principal, or partly one and partly the other, in accordance with usual and customary accounting practices of Trustee.
4.4 Acquire and hold any stock, securities, real estate or any other property, real or personal, in the name of Trustee without disclosing its capacity, or in the name of any other nominee without disclosing its capacity.
4.5 Vote all shares of stock in the Preneed Endowment Care Trust Fund howsoever the certificates therefore may be issued, on all matters, and to give special or general proxies to any person, or persons, with or without the power of substitution.
4.6 Execute, acknowledge, deliver and accept any and all deeds, deeds of trust, releases, mortgages, certificates, documents, affidavits, declarations and any and all other papers and instruments whatsoever deemed by Trustee necessary or appropriate to carrying out the powers and authority herein granted.
4.7 Exercise any option or privilege to buy, sell, exchange, or convert bonds, notes, stock or real, personal or mixed property, of any kind.
4.8 Pay from income of the Preneed Endowment Care Trust Fund, the trustee fees as provided for herein and any other expenses which may from time to time be permitted under Title 27, Chapter 17A of the Code of Alabama 1975.
Appears in 4 contracts
Samples: Endowment Care Cemetery Trust Agreement, Endowment Care Cemetery Trust Agreement, Endowment Care Cemetery Trust Agreement
Powers of the Trustee. Except as otherwise provided under Title 27, Chapter 17A of the Code of Alabama 1975(Insert statutory citation), Trustee shall have the powers normally granted to trustees under Alabama (Insert state/province name) law, specifically including, but not by way of limitation, the power to:
4.1 Collect, receive and provide receipt(s) for any and all items of income and principal that may be derived from the assets placed under the terms of this Trust Agreement and to allocate same either to principal or to income, or partly to one and partly to the other, in accordance with the usual and customary accounting practices of Trustee.
4.2 Invest and reinvest the assets of the Preneed Trust Fund pursuant to the provisions of this Trust Agreement and applicable law.
4.3 Treat stock dividends, stock splits and dividends payable in the securities of another company, extraordinary cash or non-cash dividends, liquidating dividends, stock purchase rights, warrants and options of all kinds, and all similar property and the right to property, as income or as principal, or partly one and partly the other, in accordance with usual and customary accounting practices of Trustee.
4.4 Acquire and hold any stock, securities, real estate or any other property, real or personal, in the name of Trustee without disclosing its capacity, or in the name of any other nominee without disclosing its capacity.
4.5 Vote all shares of stock in the Preneed Trust Fund howsoever the certificates therefore may be issued, on all matters, and to give special or general proxies to any person, or persons, with or without the power of substitution.
4.6 Execute, acknowledge, deliver and accept any and all deeds, deeds of trust, releases, mortgages, certificates, documents, affidavits, declarations and any and all other papers and instruments whatsoever deemed by Trustee necessary or appropriate to carrying out the powers and authority herein granted.
4.7 Exercise any option or privilege to buy, sell, exchange, or convert bonds, notes, stock or real, personal or mixed property, of any kind.
4.8 Pay from income of the Preneed Trust Fund, the trustee fees as provided for herein and any other expenses which may from time to time be permitted under Title 27, Chapter 17A of the Code of Alabama 1975(Insert statutory citation).
Appears in 1 contract
Samples: Preneed Cemetery Merchandise and Services Trust Agreement
Powers of the Trustee. Except as otherwise provided under Title 2734, Chapter 17A 13 of the Code of Alabama 1975, Trustee shall have the powers normally granted to trustees under Alabama law, specifically including, but not by way wat of limitation, the power to:
: 4.1 Collect, receive and provide receipt(s) for any and all items of income and principal that may be derived from the assets placed under the terms of this Trust Agreement and to allocate same either to principal or to income, or partly to one and partly to the other, in accordance with the usual and customary accounting practices of Trustee.
4.2 Invest and reinvest the assets of the Preneed Trust Fund pursuant to the provisions of this Trust Agreement and applicable law.
4.3 Treat stock dividends, stock splits and dividends payable in the securities of another company, extraordinary cash or non-cash dividends, liquidating dividends, stock purchase rights, warrants and options of all kinds, and all similar property and the right to property, as income or as principal, or partly one and partly the other, in accordance with usual and customary accounting practices of Trustee.
4.4 Acquire and hold any stock, securities, real estate or any other property, real or personal, in the name of Trustee without disclosing its capacity, or in the name of any other nominee without disclosing its capacity.
4.5 Vote all shares of stock in the Preneed Trust Fund howsoever the certificates therefore may be issued, on all matters, and to give special or general proxies to any person, or persons, with or without the power of substitution.
4.6 Execute, acknowledge, deliver and accept any and all deeds, deeds of trust, releases, mortgages, certificates, documents, affidavits, declarations and any and all other papers and instruments whatsoever deemed by Trustee necessary or appropriate to carrying out the powers and authority herein granted.
4.7 Exercise any option or privilege to buy, sell, exchange, or convert bonds, notes, stock or real, personal or mixed property, of any kind.
4.8 Pay from income of the Preneed Trust Fund, the trustee fees as provided for herein and any other expenses which may from time to time be permitted under Title 27, Chapter 17A of the Code of Alabama 1975.time
Appears in 1 contract
Samples: Preneed Cemetery Merchandise and Services Trust Agreement
Powers of the Trustee. Except as otherwise provided under Title 2734, Chapter 17A 13 of the Code of Alabama 1975, Trustee shall have the powers normally granted to trustees under Alabama law, specifically including, but not by way of limitation, the power to:
4.1 Collect, receive and provide receipt(s) for any and all items of income and principal that may be derived from the assets placed under the terms of this Trust Agreement and to allocate same either to principal or to income, or partly to one and partly to the other, in accordance with the usual and customary accounting practices of Trustee.
4.2 Invest and reinvest the assets of the Preneed Endowment Care Trust Fund pursuant to the provisions of this Trust Agreement and applicable law.
4.3 Treat stock dividends, stock splits and dividends payable in the securities of another company, extraordinary cash or non-cash dividends, liquidating dividends, stock purchase rights, warrants and options of all kinds, and all similar property and the right to property, as income or as principal, or partly one and partly the other, in accordance with usual and customary accounting practices of Trustee.
4.4 Acquire and hold any stock, securities, real estate or any other property, real or personal, in the name of Trustee without disclosing its capacity, or in the name of any other nominee without disclosing its capacity.
4.5 Vote all shares of stock in the Preneed Endowment Care Trust Fund howsoever the certificates therefore may be issued, on all matters, and to give special or general proxies to any person, or persons, with or without the power of substitution.
4.6 Execute, acknowledge, deliver and accept any and all deeds, deeds of trust, releases, mortgages, certificates, documents, affidavits, declarations and any and all other papers and instruments whatsoever deemed by Trustee necessary or appropriate to carrying out the powers and authority herein granted.
4.7 Exercise any option or privilege to buy, sell, exchange, or convert bonds, notes, stock or real, personal or mixed property, of any kind.
4.8 Pay from income of the Preneed Endowment Care Trust Fund, the trustee fees as provided for herein and any other expenses which may from time to time be permitted under Title 2734, Chapter 17A 13 of the Code of Alabama 1975.
Appears in 1 contract
Powers of the Trustee. Except as otherwise provided under Title 2734, Chapter 17A 13 of the Code of Alabama 1975, Trustee shall have the powers normally granted to trustees under Alabama law, specifically including, but not by way wat of limitation, the power to:
4.1 Collect, receive and provide receipt(s) for any and all items of income and principal that may be derived from the assets placed under the terms of this Trust Agreement and to allocate same either to principal or to income, or partly to one and partly to the other, in accordance with the usual and customary accounting practices of Trustee.
4.2 Invest and reinvest the assets of the Preneed Trust Fund pursuant to the provisions of this Trust Agreement and applicable law.
4.3 Treat stock dividends, stock splits and dividends payable in the securities of another company, extraordinary cash or non-cash dividends, liquidating dividends, stock purchase rights, warrants and options of all kinds, and all similar property and the right to property, as income or as principal, or partly one and partly the other, in accordance with usual and customary accounting practices of Trustee.
4.4 Acquire and hold any stock, securities, real estate or any other property, real or personal, in the name of Trustee without disclosing its capacity, or in the name of any other nominee without disclosing its capacity.
4.5 Vote all shares of stock in the Preneed Trust Fund howsoever the certificates therefore may be issued, on all matters, and to give special or general proxies to any person, or persons, with or without the power of substitution.or
4.6 Execute, acknowledge, deliver and accept any and all deeds, deeds of trust, releases, mortgages, certificates, documents, affidavits, declarations and any and all other papers and instruments whatsoever deemed by Trustee necessary or appropriate to carrying out the powers and authority herein granted.
4.7 Exercise any option or privilege to buy, sell, exchange, or convert bonds, notes, stock or real, personal or mixed property, of any kind.
4.8 Pay from income of the Preneed Trust Fund, the trustee fees as provided for herein and any other expenses which may from time to time be permitted under Title 2734, Chapter 17A 13 of the Code of Alabama 1975.
Appears in 1 contract
Samples: Preneed Funeral Merchandise and Services Trust Agreement
Powers of the Trustee. Except as otherwise provided under Title 2734, Chapter 17A 13 of the Code of Alabama 1975, Trustee shall have the powers normally granted to trustees under Alabama law, specifically including, but not by way of limitation, the power to:
4.1 Collect, receive and provide receipt(s) for any and all items of income and principal that may be derived from the assets placed under the terms of this Trust Agreement and to allocate same either to principal or to income, or partly to one and partly to the other, in accordance with the usual and customary accounting practices of Trustee.
4.2 Invest and reinvest the assets of the Preneed Trust Fund pursuant to the provisions of this Trust Agreement and applicable law.
4.3 Treat stock dividends, stock splits and dividends payable in the securities of another company, extraordinary cash or non-cash dividends, liquidating dividends, stock purchase rights, warrants and options of all kinds, and all similar property and the right to property, as income or as principal, or partly one and partly the other, in accordance with usual and customary accounting practices of Trustee.
4.4 Acquire and hold any stock, securities, real estate or any other property, real or personal, in the name of Trustee without disclosing its capacity, or in the name of any other nominee without disclosing its capacity.
4.5 Vote all shares of stock in the Preneed Trust Fund howsoever the certificates therefore may be issued, on all matters, and to give special or general proxies to any person, or persons, with or without the power of substitution.
4.6 Execute, acknowledge, deliver and accept any and all deeds, deeds of trust, releases, mortgages, certificates, documents, affidavits, declarations and any and all other papers and instruments whatsoever deemed by Trustee necessary or appropriate to carrying out the powers and authority herein granted.
4.7 Exercise any option or privilege to buy, sell, exchange, or convert bonds, notes, stock or real, personal or mixed property, of any kind.
4.8 Pay from income of the Preneed Trust Fund, the trustee fees as provided for herein and any other expenses which may from time to time be permitted under Title 2734, Chapter 17A 13 of the Code of Alabama 1975.
Appears in 1 contract
Samples: Preneed Funeral Merchandise and Services Master Trust Agreement
Powers of the Trustee. Except 6.1.1 The Trustee shall have only such rights, powers and privileges expressly set forth in the Plan and this Agreement and as otherwise provided under Title 27by applicable law. Subject to the Plan and other provisions herein, Chapter 17A including, without limitation, Section 9.4 of this Agreement, the Trustee shall be expressly authorized to undertake the following actions, in the Trustee's good faith judgment, in the best interests of the Trust Beneficiaries and to maximize net recoveries and distributions therefor:
6.1.1.1 object to and/or withdraw objections to Claims, and manage, control, prosecute, compromise and/or settle objections to Claims without supervision by the Bankruptcy Court and free of any restrictions of the Bankruptcy Code or Bankruptcy Rules, other than those restrictions expressly imposed by the Plan, the Confirmation Order and this Agreement; the Trust may, without application to or approval by the Bankruptcy Court, pay fees that it incurs after the Effective Date for professional fees and expenses, subject to Section 4.1;
6.1.1.2 investigate, prosecute, settle or otherwise compromise or abandon for the benefit of Alabama 1975the Trust all claims and causes of action transferred to the Trust or arising in favor of the Trust, including, without limitation, take any action with respect to appeals, counterclaims, and defenses of such claims and causes of action;
6.1.1.3 liquidate the Trust Assets that are not already Cash;
6.1.1.4 execute any documents and take any other actions related to, or in connection with, the liquidation of the Trust Assets, the distribution of the Trust Proceeds and the exercise of the Trustee's powers granted herein;
6.1.1.5 hold legal title to any and all rights of the Trust Beneficiaries in, to or arising from the Trust Property;
6.1.1.6 protect and enforce the rights to the Trust Property vested in the Trustee shall have by this Agreement by any method deemed reasonably appropriate, including, without limitation, by judicial proceedings or pursuant to any applicable bankruptcy, insolvency, moratorium or similar law and general principles of equity;
6.1.1.7 make distributions of the powers normally granted Trust Proceeds and other Trust Property to trustees under Alabama the appropriate Trust Beneficiaries in accordance with this Agreement, the Plan, and the Confirmation Order;
6.1.1.8 file, if necessary, any and all federal, state and local tax returns with respect to the Trust and pay taxes properly payable by the Trust, if any;
6.1.1.9 make all necessary filings in accordance with any applicable law, specifically statute or regulation, including, but not by way of limitationlimited to, the power to:Exchange Act;
4.1 Collect, receive 6.1.1.10 determine and provide receipt(s) for satisfy from the Trust Property any and all items of income taxes and principal that may be derived from ordinary course liabilities, including reasonable professional fees and expenses, created, incurred or assumed by the assets placed under the terms of this Trust Agreement and to allocate same either to principal or to income, or partly to one and partly to the other, in accordance with the usual Plan and customary accounting practices this Agreement;
6.1.1.11 retain and pay professionals from the Trust Property as provided herein;
6.1.1.12 invest monies received by the Trust, the Trustee or otherwise held by the Trust or the Trustee in accordance with Section 6.4 hereof;
6.1.1.13 in the event that the Trustee determines that the Trust Beneficiaries or the Trust may, will or have become subject to adverse tax consequences, take such actions that will, or are intended to, alleviate such adverse tax consequences;
6.1.1.14 create sub-trusts or title vehicles of Trustee.which the Trust or the Trust Beneficiaries hold the beneficial or ownership interests, as applicable;
4.2 Invest 6.1.1.15 perform such functions and reinvest take such actions as are required, provided for or permitted in this Agreement, the assets of Plan, the Preneed Trust Fund Confirmation Order or any other agreement executed pursuant to the provisions Plan; and
6.1.1. 16 enter into, on behalf of this Trust Agreement the Trust, escrow or similar agreements with U.S. financial institutions, on compensation and applicable law.
4.3 Treat stock dividendsother terms reasonably acceptable to the Trustee, stock splits and dividends payable in the securities for purpose of another company, extraordinary cash or non-cash dividends, liquidating dividends, stock purchase rights, warrants and options of all kinds, and all similar property and the right to property, as income or as principal, or partly one and partly the other, effecting distributions otherwise in accordance with usual this Agreement, the Plan and customary accounting practices of Trusteethe Confirmation Order and investing Trust Property in accordance with Section 6.4 prior to the distribution thereof.
4.4 Acquire and hold any stock6.1.1.17 control, securitiesenforce, real estate or any other property, real or personal, in the name of Trustee without disclosing its capacity, or in the name of any other nominee without disclosing its capacity.
4.5 Vote all shares of stock in the Preneed Trust Fund howsoever the certificates therefore may be issued, on all mattersassert, and to give special waive (in its reasonable discretion) all privileges (legal or general proxies to otherwise, including the attorney-client privilege) held by the Debtors at any persontime, whether pre-petition or persons, with or without the power of substitutionpost-petition.
4.6 Execute, acknowledge, deliver and accept any and all deeds, deeds of trust, releases, mortgages, certificates, documents, affidavits, declarations and any and all other papers and instruments whatsoever deemed by Trustee necessary or appropriate to carrying out the powers and authority herein granted.
4.7 Exercise any option or privilege to buy, sell, exchange, or convert bonds, notes, stock or real, personal or mixed property, of any kind.
4.8 Pay from income of the Preneed Trust Fund, the trustee fees as provided for herein and any other expenses which may from time to time be permitted under Title 27, Chapter 17A of the Code of Alabama 1975.
Appears in 1 contract
Samples: Liquidating Trust Agreement
