Common use of Sale or Other Disposition of Trust Property by Trustees Is Binding Clause in Contracts

Sale or Other Disposition of Trust Property by Trustees Is Binding. Any sale or other disposition of Trust Property, or any part thereof, by the Management Trustee made pursuant to the terms of this Trust Agreement shall bind the Trust and the Holders, and be effective to transfer or convey all rights, title and interest of the Trustees and the Holders in and to the Trust Property. The Management Trustee shall not be bound by the opinions of the Holders with respect to any sale or other disposition of the Trust Property or any part thereof, and the decision to undertake any transaction or not rests solely with the Management Trustee.

Appears in 4 contracts

Samples: Delaware Statutory Trust Agreement (Jukebox Hits Vol. 1 LLC), Delaware Statutory Trust Agreement (Jukebox Hits Vol. 1 LLC), Delaware Statutory Trust Agreement (Jukebox Hits Vol. 1 LLC)

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