Settlement of Trust. The Company has appointed the Debenture Trustee as trustee for the Debenture Holders and the Company hereby settles in trust with the Debenture Trustee, a sum of Rs. 1,000/- (Rupees One Thousand only). The Debenture Trustee hereby confirms receipt of and accepts the above amount of Rs. 1,000/- (Rupees One Thousand only) in trust hereby declared and hereby agrees to act in a fiduciary capacity as trustee for the sole and exclusive benefit of the Debenture Holder(s) and its transferees and assignees from time to time, in accordance with the terms and conditions of this Deed. The Debenture Trustee acknowledges that the Debenture Holder(s) have agreed to subscribe to the Debentures inter alia on this basis. The Debenture Trustee in such capacity as a trustee agrees:
(a) to execute and deliver all documents, agreements, instruments and certificates contemplated by this Deed to be executed and delivered by the Debenture Trustee or as the Debenture Trustee shall deem advisable and in the best interest of the Debenture Holder(s);
(b) to take whatever action shall be required to be taken by the Debenture Trustee by the terms and provisions of this Deed, to exercise its rights and perform its duties and obligations under such documents;
(c) subject to the terms and provisions of the Transaction Documents, to take such other action in connection with the foregoing as the Debenture Holder(s) may from time to time direct. PROVIDED that before initiating any action or exercising any right or requiring the performance of any act or omission, under any of the Transaction Documents, or where the consent or satisfaction of the Debenture Trustee is required under any of the Transaction Documents, the Debenture Trustee shall, unless otherwise provided for in the Transaction Documents, seek written instructions from the Debenture Holder(s) and only upon receipt of relevant instructions from the Majority Debenture Holder(s) shall the Debenture Trustee initiate any action or exercise such rights, or indicate such requirement, or provide such consent or indicate such satisfaction. Notwithstanding such requirement for instructions in writing the Debenture Trustee shall never knowingly take any action inconsistent with the best interests of the Debenture Holder(s).
Settlement of Trust. The Settlor has paid the Settled Amount to the Initial Trustee and the Initial Trustee has accepted the Settled Amount for the purpose of creating and settling the Trust and the Settlor has been issued one hundred initial Trust Units in the Trust to the Initial Trustee which have been transferred to the Trustee.
Settlement of Trust. (a) The Settlor hereby establishes, pursuant to the provisions of this Agreement and the laws of the state of New York, a grantor trust to be known as the “J&A Alliance Trust.”
(b) The Trustee hereby accepts appointment as the Trustee under this Agreement and acknowledges that it is holding, and shall continue to hold, for the exclusive benefit of the Beneficiary, the Trust Fund upon the trust and subject to the powers and provisions contained in this Agreement until the Termination Date.
Settlement of Trust. (a) Simultaneous with the execution of this Deed, the Issuer has settled in trust with the Trustee the sum of INR 1,000 (Indian Rupees One Thousand). The Trustee has accepted the above amount of INR 1,000 (Indian Rupees One Thousand) in trust declared and agrees to: (i) act as trustee for the benefit of the Debentureholders on the terms and conditions set out in this Deed and the other Debenture Documents; and (ii) to hold on trust for the Debentureholders all Recoveries as received by the Trustee.
(b) The Trustee confirms that its appointment is in compliance with Section 71 of the 2013 Act and Rule 18 of the Share Capital and Debentures Rules.
(c) The Trustee declares that it shall not revoke the trusts hereby declared until all the Obligations are irrevocably discharged and paid in full by the Issuer to the Debentureholders and the Trustee under the Transaction Documents.
Settlement of Trust. 7 2.2 Declaration of Trust.............................................7 2.3 Name.............................................................7 2.4 Nature of the Trust..............................................7 2.5 Legal Entitlements and Restrictions of Unitholders...............8 2.6
Settlement of Trust. (a) At the request of the Issuer, Catalyst Trusteeship Limited has agreed to act as the Trustee for the Debentureholders in respect of the Debentures on the terms and conditions set out in this Deed and for the remuneration set out in the Debenture Trustee Agreement.
(b) Simultaneous with the execution of this Deed, the Issuer has settled in trust with the Trustee the sum of INR 1,000 (Indian Rupees one thousand) (“Initial Contribution”). The Trustee has accepted the above amount of INR 1,000 (Indian Rupees one thousand) in trust declared and agrees to: (i) act as trustee for the benefit of the Debentureholders on the terms and conditions set out in this Deed and the other Transaction Documents; and (ii) to hold on trust for the Debentureholders all Security and all Transaction Proceeds.
(c) The Original Debentureholder shall, by signing the Application Form and without any further act or deed, be deemed to have irrevocably given its consent to the Trustee and its agents and authorized representatives to do, inter alia, all acts, deeds and things necessary in respect of the relevant Debentures being offered for subscription under the relevant Transaction Documents and in respect of the Security. Any subsequent Debentureholder purchasing any Debentures from the Original Debentureholder shall be deemed to have irrevocably given such consent to the Trustee and its agents and authorized representatives, immediately, upon being registered as a Debentureholder in the register of Debentureholders maintained in respect of the Debentures.
Settlement of Trust. (a) The Issuer hereby settles upon trust the sum of INR 1,000 (the “Initial Contribution”) and the Trustee hereby confirms receipt of and accepts the Initial Contribution.
(b) The Trustee hereby declares that it shall hold:
(1) the Initial Contribution;
(2) the benefit of all representations, covenants, undertakings made by, and all other terms agreed by, the Issuer under this Trust Deed, the Trustee Appointment Agreement and the Notes; and
(3) all monies received by it under this Trust Deed and the Notes, including as a result of the exercise of rights and remedies thereunder (save for any sums received solely for its own account), in trust for the Holders for the due payment and discharge of the outstanding debt under the Notes.
Settlement of Trust. The Issuer hereby settles upon trust the sum of INR 1,000 (the “Initial Contribution”) and the Trustee hereby confirms receipt of and accepts the Initial Contribution.
Settlement of Trust. The Issuer hereby settles in trust with the Security Trustee, the sum of Rs [•]. The Security Trustee has accepted the above amount of Rs [•] in trust declared and, subject to the terms and conditions in this Agreement, agreed to act as trustee for the benefit of the Secured Parties and their successors, transferees, novatees and assigns in accordance with the Debenture Documents (the trust declared hereinafter referred to as the “Trust”). The Issuer hereby undertakes and confirms to create or procure the creation of the Security Interests on the Secured Assets in favour of the Security Trustee in accordance with the terms of the Debenture Documents. The Security Trustee shall hold the Security Interests on the Secured Assets created or to be created under the respective Security Documents for the benefit of the Secured Parties in accordance with the terms thereof. The Parties further confirm and undertake that subject to the Backstop Guarantor obtaining all required approvals under Applicable Law including permission(s) from the RBI for holding Security Interest in the Secured Assets and the Backstop Guarantor executing the Deed of Accession, the Backstop Guarantor shall become a Secured Party for the purposes of this Agreement and any amounts due and payable to the Backstop Guarantor in terms of the Backstop Guarantee shall be secured by way of a charge on the Secured Assets that shall always rank pari passu with the Security Interests of the existing Secured Parties.
Settlement of Trust. The Trustee acknowledges that he is holding, and shall continue to hold, the Trust Fund upon the trusts and subject to the powers and provisions contained in this Deed until the Termination Date.
