Representations of Trustee(s). Any trustee for a trust who signs a Membership Card for Revocable Trust Account represents the following: (i) the trust is in full force and effect and it has not been revoked or amended in any manner which would cause the representations made herein to be inaccurate or incorrect; (ii) the named trustee(s) has qualified, is acting as trustee(s), and is authorized to open this account; (iii) the trustee(s) is authorized to hold, manage, deposit, withdraw, invest and reinvest funds deposited, purchase and sell certificates of deposit, and accomplish any or all other banking transactions; (iv) the trust agreement contains a hold harmless provision for any third party dealing with the trust or any trustee and that such provision applies to the Credit Union; (v) trustee(s) will send written notice of any change in trustee(s), of any amendment or modification of the trust which would cause the representations made herein to be or become inaccurate or incorrect, or of the occurrence of any event which would affect the trust’s revocability, the powers of the trustee(s), or any other representations made to the Credit Union; and (vi) any one trustee has the power to authorize withdrawals or transfers from authorized accounts, or authorize new accounts or services. The Credit Union may rely on these representations and any instructions by the trustee(s) and act in accordance therewith in any respect affecting the account before or after termination of the trust, unless and until it receives a written notice of changes to the trust, with notice of changes in trustee(s), or written notice of any events affecting the trustee(s) powers described above or in any documents required by the Credit Union.
Representations of Trustee(s). Any trustee for a trust who signs a Membership Card for Revocable Trust Account represents the following: (i) the trust is in full force and effect and it has not been revoked or amended in any manner which would cause the representations made herein to be inaccurate or incorrect; (ii) the named trustee(s) has qualified, is acting as trustee(s), and is authorized to open this account; (iii) the trustee(s) is authorized to hold, manage, deposit, withdraw, invest and reinvest funds deposited, purchase and sell certificates, and accomplish any or all other banking transactions; (iv) the trust agreement contains a hold harmless provision for any third party dealing with the trust or any trustee and that such provision applies to the Credit Union; (v) trustee(s) will send written notice of any change in trustee(s), of any amendment or modification of the trust which would cause the representations made herein to be or become inaccurate or incorrect, or of the occurrence of any event which would affect the trust’s revocability, the powers of the trustee(s), or any other representations made to the Credit Union; and
Representations of Trustee(s). Subject to the entry of the Settlement Order, each Trustee hereby represents and warrants to the Designated Holders and United that (i) such Trustee has all requisite power and authority to enter into this Agreement and perform the obligations to be performed by such Trustee as contemplated by this Agreement and (ii) this Agreement has been duly authorized, executed, and delivered by such Trustee, and constitutes the legal, valid and binding obligation of such Trustee, enforceable in accordance with the terms hereof. The representations and warranties given by the Trustees in this subsection (b) are given solely in their capacity as Trustees under the Bond Agreements and not in their individual capacity. Any claims resulting from the breach of these representations and warranties shall be limited to the Trustees acting in such capacity, and the Trustees shall have no personal liability with respect thereto.
