Common use of Retention of Property Clause in Contracts

Retention of Property. (a) The Trustee may retain for as long as the Trustee thinks fit sufficient Assets as may be required to meet any outgoings or liabilities (actual or contingent) in respect of the Trust. (b) If any Asset retained is ultimately found not to be required, then subject to clause 20.6 (a) the Asset must be sold or realised and the proceeds distributed to the Unit Holders in accordance with this clause 20.

Appears in 4 contracts

Samples: Reference User Funding Agreement (Rufa), Trust Deed, Trust Deed

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