Revocation During the Grantor's Lifetime Sample Clauses

Revocation During the Grantor's Lifetime. During the lifetime of the Grantor, this trust may be revoked in whole or in part with respect to all property only by an instrument in writing signed by the Grantor and delivered to the Trustee. On revocation, the Trustee shall promptly, within a reasonable period of time, deliver to the Grantor all of the property of the Grantor which was held and administered by the Trustee. The Trustee shall also account for the Trustee's acts since the preceding account. If this instrument is revoked with respect to all or a major portion of the assets subject to it, the Trustee shall be entitled to retain sufficient assets reasonably necessary to secure payment of liabilities lawfully incurred by the Trustee in the administration of the trust, including Trustee's fees that have been earned, unless the Grantor shall indemnify the Trustee against loss or expense.
Sample 1
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Revocation During the Grantor's Lifetime. Trusts fall under two major categories, revocable and irrevocable. Revocable trusts can be destroyed, altered or changed. Irrevocable trusts are fixed and can not be changed. This provision declares this trust can be made void or cease to exist.
Sample 1

Related to Revocation During the Grantor's Lifetime

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  • Meetings During the Grievance Process 22.4.1 Subject to operational requirements,

  • Spending the Grant 9.1 The Grantee agrees to spend the Grant for the purpose of undertaking the Activity only.

  • OPERATION OF PROPERTY DURING AGREEMENT PERIOD The Seller will continue to operate the Property and any business conducted on the Property in the manner operated prior to the Agreement and will take no action that would adversely impact the Property, tenants, lender, or business, if any. Any changes, such as renting vacant space, that materially affects the Property or the Buyer's intended use will be permitted only with the Buyer's consent.

  • Employee Leaving During the Notice Period If the employment of an employee is terminated (other than for misconduct) before the notice period expires, the employee shall be entitled to the same benefits and payments under this clause had the employee remained with the employer until the expiry of such notice. Provided that in such circumstance the employee shall not be entitled to payment in lieu of notice.

  • Managing the Grant 7.1 Each party must notify the other of:

  • Drawings Submitted During the Contract Term Where required to develop, maintain and deliver diagrams or other technical schematics regarding the scope of work, Contractor shall do so on an ongoing basis at no additional charge, and must, as a condition of payment, update drawings and plans during the Contract term to reflect additions, alterations, and deletions. Such drawings and diagrams shall be delivered to the Authorized User’s representative.

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  • Partial Disposal During Term of Service Agreement Throughout the Term of the Service Agreement, LEA may request partial disposal of Student Data obtained under the Service Agreement that is no longer needed. Partial disposal of data shall be subject to LEA’s request to transfer data to a separate account, pursuant to Article II, section 3, above.

  • Xxxxxxxx’s Right to Reinstate the Loan after Acceleration If Xxxxxxxx meets certain conditions, Borrower will have the right to reinstate the Loan and have enforcement of this Security Instrument discontinued at any time up to the later of (a) five days before any foreclosure sale of the Property, or (b) such other period as Applicable Law might specify for the termination of Xxxxxxxx’s right to reinstate. This right to reinstate will not apply in the case of acceleration under Section 19. To reinstate the Loan, Borrower must satisfy all of the following conditions: (aa) pay Lender all sums that then would be due under this Security Instrument and the Note as if no acceleration had occurred; (bb) cure any Default of any other covenants or agreements under this Security Instrument or the Note; (cc) pay all expenses incurred in enforcing this Security Instrument or the Note, including, but not limited to: (i) reasonable attorneys’ fees and costs; (ii) property inspection and valuation fees; and (iii) other fees incurred to protect Xxxxxx’s interest in the Property and/or rights under this Security Instrument or the Note; and (dd) take such action as Lender may reasonably require to assure that Xxxxxx’s interest in the Property and/or rights under this Security Instrument or the Note, and Xxxxxxxx’s obligation to pay the sums secured by this Security Instrument or the Note, will continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (aaa) cash; (bbb) money order; (ccc) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (ddd) Electronic Fund Transfer. Upon Xxxxxxxx’s reinstatement of the Loan, this Security Instrument and obligations secured by this Security Instrument will remain fully effective as if no acceleration had occurred.

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