Common use of Settlement of Trust Clause in Contracts

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. 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 twenty initial Trust Units in the Trust to the Initial Trustee which have been transferred to the TrusteeTrust.