Reservation of Trust Units Sample Clauses

Reservation of Trust Units. The Fund hereby represents, warrants and covenants in favour of Food Services that the Fund has reserved for issuance and will, at all times while any Exchangeable Securities (other than Exchangeable Securities held by the Fund or its Affiliates) are outstanding, keep available, free from pre-emptive and other rights, out of its authorized and unissued Trust Units such number of Limited Voting Units and Units (or other securities into which Limited Voting Units and Units may be reclassified or changed): (i) as is equal to the number of Units or Limited Voting Units issuable upon the exercise of the Fund Exchange Right and the Company Exchange Right; and (ii) as are now and may hereafter be required to enable and permit the Fund to meet its obligations under this Agreement and the Declaration of Trust and under any other security or commitment pursuant to which the Fund may now or hereafter be required to issue Limited Voting Units and Units.
Sample 1
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Reservation of Trust Units. Extendicare Trust hereby represents, warrants and covenants in favour of Exchangeable LP Unitholders and the Fund that Extendicare Trust has reserved for issuance and will, at all times while this Agreement is in effect, keep available, free from pre-emptive and other rights granted by Extendicare Trust, such number of Trust Units as are issuable in connection with the Exchange Rights.
Sample 1
Reservation of Trust Units. The Trust hereby represents, warrants and covenants in favour of the Holders and the Fund that the Trust has reserved for issuance and will, at all times while this Agreement is outstanding, keep available, free from pre-emptive and other rights granted by the Trust, such number of Trust Units as are issuable to the Fund in connection with the Exchange Right.
Sample 1
Reservation of Trust Units. As of the date hereof, the Trust has available and the Trust shall reserve and keep available at all times, free of preemptive rights and other similar contractual rights of stockholders, Trust Units for the purpose of enabling the Trust to satisfy any obligation to issue Trust Units in connection with all Draw Downs contemplated hereunder and the Warrant Trust Units. The number of Trust Units so reserved from time to time, as theretofore increased or reduced as hereinafter provided, may be reduced by the number of Trust Units actually delivered hereunder.
Sample 1

Related to Reservation of Trust Units

  • Creation of Trust; Name There is hereby created a Trust which shall be known as "SLM Student Loan Trust 2005-2", in which name the Eligible Lender Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and xxx and be sued. The Trust shall constitute a statutory trust within the meaning of Section 3801(a) of the Delaware Statutory Trust Act for which the Eligible Lender Trustee has filed a certificate of trust with the Secretary of State of the State of Delaware pursuant to Section 3810(a) of the Delaware Statutory Trust Act.

  • Creation of Trust The Purchaser hereby irrevocably transfers and assigns to the Trustee, and the Trustee hereby accepts the transfer and assignment of, the right to vote and consent for the Purchaser in connection with all of its voting and consent rights and responsibilities as Beneficial Owner of the Subject Shares with respect to the following matters (collectively, the “Voting Matters”):

  • Rights of Trustee as Holder of Senior Debt; Preservation of Trustee’s Rights The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XII with respect to any Senior Debt that may at any time be held by it, to the same extent as any other holder of Senior Debt, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder.

  • Acquisition of Trust Property (a) The Trustee is hereby irrevocably authorized and directed to execute and deliver the Assignment and Assumption Agreement on the date specified in Section 7.01 of the Related Pass Through Trust Supplement, subject only to the satisfaction of the conditions set forth in said Section 7.01. The Agreement (except only for this sentence and the immediately preceding sentence hereof, which are effective upon execution and delivery hereof) shall become effective upon the execution and delivery of the Assignment and Assumption Agreement by the Trustee and the Related Trustee, automatically and without any further signature or action on the part of the Company and the Trustee, and shall thereupon constitute the legal, valid and binding obligation of the parties hereto enforceable against each of the parties hereto in accordance with its terms. Upon such execution and delivery of the Assignment and Assumption Agreement, the Related Trust shall be terminated, the Applicable Certificateholders shall receive beneficial interests in the Applicable Trust in exchange for their interests in the Related Trust equal to their respective beneficial interests in the Related Trust and the “Outstanding” (as defined in the Related Pass Through Trust Agreement) pass through certificates representing fractional undivided interests in the Related Trust shall be deemed for all purposes of the Agreement, without further signature or action of any party or Certificateholder, to be Certificates representing the same Fractional Undivided Interests in the Applicable Trust and Trust Property. By acceptance of its Applicable Certificate, each Applicable Certificateholder consents to and ratifies such assignment, transfer and delivery of the trust property of the Related Trust to the Trustee upon the execution and delivery of the Assignment and Assumption Agreement. The provisions of this Section 5.01(a) supersede and replace the provisions of Section 2.02 of the Basic Agreement with respect to the Applicable Trust, and all provisions of the Basic Agreement relating to Postponed Notes or Section 2.02 of the Basic Agreement shall not apply to the Applicable Trust.

  • Duration of Trust Unless terminated as provided herein, the Trust shall have perpetual existence.

  • Administration of Trust The Trustee shall administer the trust of the Indenture and shall perform a substantial part of its obligations relating to each series of Debt Securities and this Indenture at its corporate trust office in the City of New York.

  • Application of Trust All money deposited with the Trustee pursuant to Section 12.01 shall be held in trust and, at the written direction of the Issuers, be invested prior to maturity in non-callable U.S. Government Obligations, and applied by the Trustee in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for the payment of which money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law.

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