Purposes of Trust. (a) The exclusive purposes and functions of the Trust are to (i) issue and sell Trust Securities and use the proceeds from such sale to acquire the Notes and (ii) engage in only those activities necessary or incidental thereto. The Delaware Trustee, the Property Trustee and the Administrative Trustees are trustees of the Trust, and have all the rights, powers and duties to the extent set forth herein. The Trustees hereby acknowledge that they are trustees of the Trust.
(b) So long as this Trust Agreement remains in effect, the Trust (or the Trustees acting on behalf of the Trust) shall not undertake any business, activities or transaction except as expressly provided herein or contemplated hereby. In particular, the Trust (or the Trustees acting on behalf of the Trust) shall not (i) acquire any investments or engage in any activities not authorized by this Trust Agreement, (ii) sell, assign, transfer, exchange, mortgage, pledge, set-off or otherwise dispose of any of the Trust Property or interests therein, including to Holders, except as expressly provided herein, (iii) incur any indebtedness for borrowed money or issue any other debt, (iv) take or consent to any action that would result in the placement of a Lien on any of the Trust Property, (v) take or consent to any action that would reasonably be expected to cause the Trust to become taxable as a corporation or classified as other than a grantor trust for United States federal income tax purposes, (vi) take or consent to any action that would cause the Notes to be treated as other than indebtedness of the Depositor for United States federal income tax purposes or (vii) take or consent to any action that would cause the Trust to be deemed to be an “investment company” required to be registered under the Investment Company Act.
Purposes of Trust. 11 SECTION 2.5. Authorization to Enter into Certain Transactions....................................11 SECTION 2.6.
Purposes of Trust. This Trust is formed for the following purpose or purposes:
(a) to conduct, operate and carry on the business of an investment company;
(b) to subscribe for, invest in, reinvest in, purchase or otherwise acquire, hold, pledge, sell, assign, transfer, lend, write options on, exchange, distribute or otherwise dispose of and deal in and with securities of every nature, kind, character, type and form, including, without limitation of the generality of the foregoing, all types of stocks, shares, futures contracts, bonds, debentures, notes, bills and other negotiable or non-negotiable instruments, obligations, evidences of interest, certificates of interest, certificates of participation, certificates, interests, evidences of ownership, guarantees, warrants, options or evidences of indebtedness issued or created by or guaranteed as to principal and interest by any state or local government or any agency or instrumentality thereof, by the United States Government or any agency, instrumentality, territory, district or possession thereof, by any foreign government or any agency, instrumentality, territory, district or possession thereof, by any corporation organized under the laws of any state, the United States or any territory or possession thereof or under the laws of any foreign country, bank certificates of deposit, bank time deposits, bankers' acceptances and commercial paper; to pay for the same in cash or by the issue of stock, including treasury stock, bonds or notes of the Trust or otherwise; and to exercise any and all rights, powers and privileges of ownership or interest in respect of any and all such investments of every kind and description, including, without limitation, the right to consent and otherwise act with respect thereto, with power to designate one or more persons, firms, associations or corporations to exercise any of said rights, powers and privileges in respect of any said instruments;
(c) to borrow money or otherwise obtain credit and to secure the same by mortgaging, pledging or otherwise subjecting as security the assets of the Trust;
(d) to issue, sell, repurchase, redeem, retire, cancel, acquire, hold, resell, reissue, dispose of, transfer, and otherwise deal in, Shares including Shares in fractional denominations, and to apply to any such repurchase, redemption, retirement, cancellation or acquisition of Shares any funds or other assets of the appropriate series or class of Shares, whether capital or surplus or otherwise, to the f...
Purposes of Trust. The purposes of the Trust are:
5.1 To plan, establish, develop, acquire, construct, purchase, own, install, repair, enlarge, improve, maintain, equip, finance and refinance, operate and regulate public transportation systems and facilities within the boundaries of the regional district of the Authority including but not limited to the purchase, lease, construction, installation, equipping, maintenance, and operation of such buildings and other facilities necessary for the servicing of such public transportation systems and facilities or for the comfort and accommodation of patrons of such public transportation systems and facilities or for use by authorities or agencies of the United States of America, the State of Oklahoma, or other political subdivisions of government or for other uses that the Authority may undertake as to public transportation and the buildings and facilities thereof.
5.2 To hold, maintain, and administer any leasehold rights in and to physical properties demised to the Beneficiaries and to comply with the terms and conditions of any such lease.
5.3 To acquire by lease, purchase or otherwise, and to plan, establish, develop, construct, enlarge, improve, maintain, equip, operate, and regulate any and all physical properties designated or needful for utilization in the furnishing and providing of services, in connection with public transportation systems and facilities properties, and to dispose of, rent, or otherwise make provisions for properties owned by the Trust but no longer needful for Trust purposes.
5.4 To provide funds for the cost of financing, acquiring, constructing, leasing, equipping, maintaining, repairing, and operating such public transportation systems and facilities and buildings and other improvements thereto, and all properties, real, personal, or mixed, required for execution and fulfilling the Trust purposes as set forth in this instrument, and all other charges, costs, and expenses necessarily incurred in connection therewith, and in so doing, to incur indebtedness, either unsecured or secured by all or any part of the Trust Estate and its revenues.
5.5 To expend all funds coming into the hands of the Directors as revenue or otherwise in the payment of any indebtedness incurred by the Directors for purposes specified herein, and in the payment of the aforesaid costs and expenses, and in the payment of any other obligation properly chargeable against the Trust Estate, and to distribute the remainder of such funds ...
Purposes of Trust. The express purposes and primary objectives of the Trust are limited to performing essential governmental functions and all of the Trust’s income must accrue to the State of Oregon or its political subdivisions as required under IRC Section 115. The purposes of the Trust include the following:
(a) To ensure that there is available to Participants a market for liability, property, crime and/or workers' compensation insurance coverage appropriate to the risks to which such Participants are exposed.
(b) To aggregate the collective buying power of the Participants, and the economic advantages of individual and pooled risk retention where lawful and actuarially sound, and to reduce and stabilize the cost of funding insurance for those risks.
(c) To provide Participants with expertise in the management of risk through loss prevention and loss control program, claims management and consulting, data gathering, information sharing and related services.
(d) To act as an information resource to Participants in presenting to appropriate legislative bodies and committee’s data related to the cost of public body risk in Oregon.
(e) To create and act as a pooled self-insured retention fund for Participants, and to establish actuarially sound contribution schedules for Participants in such a pool at appropriate retention levels.
(f) To receive, account for, invest and disburse as lawfully due and payable money collected from Participants as premiums, fees and other contributions to the Trust.
(g) To promote the common interests of Participants and to institute programs to assist those Participants in performing their governmental functions in a cost-effective way.
(h) To perform other activities as reasonable to achieve the list above, so long as such activity is allowable for an intergovernmental association under Oregon law.
Purposes of Trust. The Bank and the Trustee shall discharge their duties with respect to the Trust Fund for, and the Trust Fund shall be used solely for and not diverted from, the exclusive purpose of providing benefits to Participants and their beneficiaries who are entitled to benefits under the Plan, other than such part as is required to pay taxes and reasonable expenses of administering the Plan. Notwithstanding the preceding sentence, however, contributions may be returned to the Bank by the Trustee at the direction of the Committee as hereinafter provided, if the Committee certifies in writing to the Trustee that one or both of the following circumstances exist and that the Plan permits such repayments:
(a) If a contribution is made by the Bank by a mistake of fact, the contribution may be returned to the Bank within one year after it was paid to the Trustee;
(b) If a contribution is conditioned upon its deductibility under Section 404 of the Internal Revenue Code, the contribution, to the extent the deduction is disallowed by the Internal Revenue Service, may be returned to the Bank within one year after the disallowance or, if such disallowance is appealed to the courts, within one year after the date a court decision upholding such disallowance becomes final. For purposes of this Section, the word "contribution" has the same meaning as it does in Section 403(c) of ERISA.
Purposes of Trust. Authorization to Enter into Certain Transactions
Purposes of Trust. The Trust is organized for the primary purposes of
(a) investigating, pursuing, litigating and, as applicable, settling the Litigation Trust Claims in the Trustee’s discretion, subject to any relevant provisions of this Trust Agreement, without Bankruptcy Court approval, (b) collecting, receiving, holding, maintaining, administering and liquidating the Trust Assets, (c) paying all reasonable and necessary fees, costs and expenses incurred by the Trustee, the Trust Committee or their Professionals pursuant to, and otherwise in connection with the Trustee’s performance of its duties under, this Trust Agreement (the “Trust Expenses”), and (d) transferring Available Cash to the Disbursing Agent for the benefit of the Beneficiaries as provided for in the Plan and this Trust Agreement (herein, the “Trust Purposes”). The Trust has no objective to, and shall not, engage in a trade or business; shall conduct its activities consistent with the Confirmation Order, the Plan, and this Trust Agreement; and shall terminate upon the completion of its liquidation and distribution duties. The Trust and the Trustee shall conduct all of their activities pursuant to and in accordance with this Trust Agreement, the Confirmation Order, and the Plan. In furtherance of these objectives, the Trustee shall, in its business judgment, make continuing best efforts to not unduly prolong the duration of the Trust.
Purposes of Trust. The purposes of this Trust are for the Trustee to receive legal title to the Trust assets and during the term of the Trust to protect, conserve, manage and administer the Trust assets by holding shares on its name but in fact on behalf of Trustor and consequently to act as a Trustee shareholder on behalf of Trustor. The Trustee shall act accordingly to and within the limits of the instructions given by Trustor, and to represent (PCTI) before third parties.
Purposes of Trust. The purposes of this Trust are:
