Common use of Specific Powers and Authorities Clause in Contracts

Specific Powers and Authorities. Subject only to the express limitations contained in this Trust Agreement and in addition to any powers and authorities conferred by this Trust Agreement or which the Trustee may have by virtue of any present or future statute or rule of law, the Trustee without any action or consent by the Holders may exercise at any time and from time to time the following powers and authorities which may or may not be exercised by it in its sole judgment and discretion and in such manner and upon such terms and conditions as it may from time to time deem proper for the sole purpose of liquidating the Trust Estate and distribution of the proceeds of liquidation to the Holders, and not for the operation of a business: (1) To collect, liquidate or otherwise convert into cash, or such other property as they deem appropriate, all property, assets and rights in the Trust Estate, and to pay, discharge and satisfy all liabilities, expenses, obligations and claims existing with respect to the Trust Estate, the Trust or the Trustee. (2) To do or perform any acts or things reasonable or appropriate for the continued operation and the conservation, protection and orderly administration of the Trust Estate. (3) To provide for the registration of the Units under the Federal Securities laws and such registration or qualification under State Securities or Blue Sky laws as it deems advisable, if required by law. (4) To create reserve funds for any purpose, including, without limitation, reserves to protect against contingent or unknown liabilities which might exist with respect to the Trust Estate, the Trust, the Trustee or the prior operations or activities of CRC. (5) To incur and pay out of the Trust Estate any charges or expenses, and disburse any funds of the Trust, which charges, expenses or disbursements are, in the opinion of the Trustee, necessary or incidental to or desirable for the carrying out of any of the purposes of the Trust, including, without limitation, taxes and other governmental levies, charges and assessments of whatever kind or nature, imposed upon or against the Trustee in connection with the Trust or the Trust Estate or upon or against the Trust Estate or any part thereof. (6) To invest and re-invest funds of the Trust in demand and time deposits in banks or savings institutions, short-term certificates of deposit, or U.S. Treasury Bills subject to the requirements that the maturity date of such investments shall be such as to permit the Trustee to pay all debts as they become due and payable and to pay the Holders at least annually all sums in excess of reserves for claims and contingent liabilities. (7) To appoint, engage and employ any persons as agents, representatives, employees or independent contractors to act as investment advisors, attorneys, or accountants for or to the Trust and the Trust Estate and to pay compensation from the Trust Estate for such services. (8) To collect, sxx for, and receive all sums of money coming due to the Trust, and to engage in, intervene in, prosecute, join, defend, compound, compromise, abandon or adjust by arbitration or otherwise any actions, suits, proceedings, disputes, claims, controversies, demands or other litigation relating to the Trust, the Trust Estate or the Trust's affairs, to enter into agreements therefore, whether or not any suit is commenced or claim accrued or asserted and, in advance of any controversy, to enter into agreements regarding arbitration, adjudication or settlement thereof. (9) To purchase and pay for, out of the Trust Estate, insurance contracts and policies insuring the Trust Estate against any and all risks and insuring the Trust, the Trustee, the Holders or the agents and employees of the Trust, or any or all of them, against any and all claims and liabilities of every nature asserted by any person arising by reason of any action alleged to have been taken or omitted by the Trust or by the Trustee. Holders or agents or employees. (10) To file any and all documents and take any and all such other action as the Trustee, in its sole judgment, may deem necessary in order that the Trust may lawfully carry out its purposes in any jurisdiction. (11) To prepare and file, or assist in the preparation and filing of, Federal and State tax returns and reports required to be filed on behalf of the Trust, the Trustee or the Holders. (12) To do or take any action necessary, and to execute and deliver any documents necessary, to enforce the rights resulting from the Agreement for the sale of the CRC assets to Global Resource Corporation, including without limitation, any actions pertaining to collection of the monies, the collection of any insurance funds, foreclosure of any lien or mortgage, and reacquisition, to own, operate and manage the property until it can be sold. (13) To do all other such acts and things as are incidental to the foregoing, and to exercise all powers which are necessary or useful to promote and attain any of the purposes for which the Trust is formed, and to carry out the provisions of this Trust Agreement. The enumeration of powers in this Article Four shall not be considered as a limitation upon the power of the Trustee to act in furtherance of the purposes of the Trust and in such manner as it, in its sole discretion, deems necessary or advisable to conserve, protect and administer the Trust Estate.

Specific Powers and Authorities. Subject only to the express limitations contained in this Trust Agreement and in addition to any powers and authorities conferred by this Trust Agreement or which the Trustee may have by virtue of any present or future statute or rule of law, the Trustee without any action or consent by the Holders may exercise at any time and from time to time the following powers and authorities which may or may not be exercised by it in its sole judgment and discretion and in such manner and upon such terms and conditions as it may from time to time deem proper for the sole purpose of liquidating the Trust Estate and distribution of the proceeds of liquidation to the Holders, and not for the operation of a business: (1) To collect, liquidate or otherwise convert into cash, or such other property as they deem appropriate, all property, assets and rights in the Trust Estate, and to pay, discharge and satisfy all liabilities, expenses, obligations and claims existing with respect to the Trust Estate, the Trust or the Trustee. (2) To do or perform any acts or things reasonable or appropriate for the continued operation and the conservation, protection and orderly administration of the Trust Estate. (3) To provide for the registration of the Units under the Federal Securities laws and such registration or qualification under State Securities or Blue Sky laws as it deems advisable, if required by law. (4) To create reserve funds for any purpose, including, without limitation, reserves to protect against contingent or unknown liabilities which might exist with respect to the Trust Estate, the Trust, the Trustee or the prior operations or activities of CRCCONTINAN and/or VocalEnvision. (5) To incur and pay out of the Trust Estate any charges or expenses, and disburse any funds of the Trust, which charges, expenses or disbursements are, in the opinion of the Trustee, necessary or incidental to or desirable for the carrying out of any of the purposes of the Trust, including, without limitation, taxes and other governmental levies, charges and assessments of whatever kind or nature, imposed upon or against the Trustee in connection with the Trust or the Trust Estate or upon or against the Trust Estate or any part thereof. (6) To invest and re-invest funds of the Trust in demand and time deposits in banks or savings institutions, short-term certificates of deposit, or U.S. Treasury Bills subject to the requirements that the maturity date of such investments shall be such as to permit the Trustee to pay all debts as they become due and payable and to pay the Holders at least annually all sums in excess of reserves for claims and contingent liabilities. (7) To appoint, engage and employ any persons as agents, representatives, employees or independent contractors to act as investment advisors, attorneys, or accountants for or to the Trust and the Trust Estate and to pay compensation from the Trust Estate for such services. (8) To collect, sxx xxx for, and receive all sums of money coming due to the Trust, and to engage in, intervene in, prosecute, join, defend, compound, compromise, abandon or adjust adjust, by arbitration or otherwise otherwise, any actions, suits, proceedings, disputes, claims, controversies, demands or other litigation relating to the Trust, the Trust Estate or the Trust's affairs, to enter into agreements therefore, whether or not any suit is commenced or claim accrued or asserted and, in advance of any controversy, to enter into agreements regarding arbitration, adjudication or settlement thereof. (9) To purchase and pay for, out of the Trust Estate, insurance contracts and policies insuring the Trust Estate against any and all risks and insuring the Trust, the Trustee, the Holders or the agents and employees of the Trust, or any or all of them, against any and all claims and liabilities of every nature asserted by any person arising by reason of any action alleged to have been taken or omitted by the Trust or by the Trustee. , Holders or agents or employees. (10) To file any and all documents and take any and all such other action as the Trustee, in its sole judgment, may deem necessary in order that the Trust may lawfully carry out its purposes in any jurisdiction. (11) To prepare and file, or assist in the preparation and filing of, Federal and State tax returns and reports required to be filed on behalf of the Trust, the Trustee or the Holders. (12) To do or take any action necessary, and to execute and deliver any documents necessary, to enforce the rights resulting from the Agreement for the sale of the CRC CONTINAN assets to Global Resource Corporation, including without limitation, any actions pertaining to collection of the monies, the collection of any insurance funds, foreclosure of any lien or mortgage, and reacquisition of the assets, in the event of default by the buyer and, in the event of any reacquisition, to own, operate and manage the property until it can be sold. (13) To do all other such acts and things as are incidental to the foregoing, and to exercise all powers which are necessary or useful to promote and attain any of the purposes for which the Trust is formed, and to carry out the provisions of this Trust Agreement. The enumeration of powers in this Article Four shall not be considered as a limitation upon the power of the Trustee to act in furtherance of the purposes of the Trust and in such manner as it, in its sole discretion, deems necessary or advisable to conserve, protect and administer the Trust Estate.

Specific Powers and Authorities. Subject only to the express limitations contained in this Trust Agreement and in addition to any powers and authorities conferred by this Trust Agreement or which the Trustee may have by virtue of any present or future statute or rule of law, the Trustee without any action or consent by the Holders may exercise at any time and from time to time the following powers and authorities which may or may not be exercised by it in its sole judgment and discretion and in such manner and upon such terms and conditions as it may from time to time deem proper for the sole purpose of liquidating the Trust Estate and distribution of the proceeds of liquidation to the Holders, and not for the operation of a business: (1) To collect, liquidate or otherwise convert into cash, or such other property as they deem appropriate, all property, assets and rights in the Trust Estate, and to pay, discharge and satisfy all liabilities, expenses, obligations and claims existing with respect to the Trust Estate, the Trust or the Trustee. (2) To do or perform any acts or things reasonable or appropriate for the continued operation and the conservation, protection and orderly administration of the Trust Estate. (3) To provide for the registration of the Units under the Federal Securities laws and such registration or qualification under State Securities or Blue Sky laws as it deems advisable, if required by law. (4) To create reserve funds for any purpose, including, without limitation, reserves to protect against contingent or unknown liabilities which might exist with respect to the Trust Estate, the Trust, the Trustee or the prior operations or activities of CRCMOBILESTREAM. (5) To incur and pay out of the Trust Estate any charges or expenses, and disburse any funds of the Trust, which charges, expenses or disbursements are, in the opinion of the Trustee, necessary or incidental to or desirable for the carrying out of any of the purposes of the Trust, including, without limitation, taxes and other governmental levies, charges and assessments of whatever kind or nature, imposed upon or against the Trustee in connection with the Trust or the Trust Estate or upon or against the Trust Estate or any part thereof. (6) To invest and re-invest funds of the Trust in demand and time deposits in banks or savings institutions, short-term certificates of deposit, or U.S. Treasury Bills subject to the requirements that the maturity date of such investments shall be such as to permit the Trustee to pay all debts as they become due and payable and to pay the Holders at least annually all sums in excess of reserves for claims and contingent liabilities. (7) To appoint, engage and employ any persons as agents, representatives, employees or independent contractors to act as investment advisors, attorneys, or accountants for or to the Trust and the Trust Estate and to pay compensation from the Trust Estate for such services. (8) To collect, sxx for, and receive all sums of money coming due to the Trust, and to engage in, intervene in, prosecute, join, defend, compound, compromise, abandon or adjust by arbitration or otherwise any actions, suits, proceedings, disputes, claims, controversies, demands or other litigation relating to the Trust, the Trust Estate or the Trust's affairs, to enter into agreements therefore, whether or not any suit is commenced or claim accrued or asserted and, in advance of any controversy, to enter into agreements regarding arbitration, adjudication or settlement thereof. (9) To purchase and pay for, out of the Trust Estate, insurance contracts and policies insuring the Trust Estate against any and all risks and insuring the Trust, the Trustee, the Holders or the agents and employees of the Trust, or any or all of them, against any and all claims and liabilities of every nature asserted by any person arising by reason of any action alleged to have been taken or omitted by the Trust or by the Trustee. Holders or agents or employees. (10) To file any and all documents and take any and all such other action as the Trustee, in its sole judgment, may deem necessary in order that the Trust may lawfully carry out its purposes in any jurisdiction. (11) To prepare and file, or assist in the preparation and filing of, Federal and State tax returns and reports required to be filed on behalf of the Trust, the Trustee or the Holders. (12) To do or take any action necessary, and to execute and deliver any documents necessary, to enforce the rights resulting from the Agreement for the sale of the CRC MOBILESTREAM assets to Global Resource Corporation, including without limitation, any actions pertaining to collection of the monies, the collection of any insurance funds, foreclosure of any lien or mortgage, and reacquisition, to own, operate and manage the property until it can be sold. (13) To do all other such acts and things as are incidental to the foregoing, and to exercise all powers which are necessary or useful to promote and attain any of the purposes for which the Trust is formed, and to carry out the provisions of this Trust Agreement. The enumeration of powers in this Article Four shall not be considered as a limitation upon the power of the Trustee to act in furtherance of the purposes of the Trust and in such manner as it, in its sole discretion, deems necessary or advisable to conserve, protect and administer the Trust Estate.

Specific Powers and Authorities. Subject only to the express limitations contained in this Trust Agreement and in addition to any powers and authorities conferred by this Trust Agreement or which the Trustee may have by virtue of any present or future statute or rule of law, the Trustee without any action or consent by the Holders may exercise at any time and from time to time the following powers and authorities which may or may not be exercised by it in its sole judgment and discretion and in such manner and upon such terms and conditions as it may from time to time deem proper for the sole purpose of liquidating the Trust Estate and distribution of the proceeds of liquidation to the Holders, and not for the operation of a business: (1) To collect, liquidate or otherwise convert into cash, or such other property as they deem appropriate, all property, assets and rights in the Trust Estate, and to pay, discharge and satisfy all liabilities, expenses, obligations and claims existing with respect to the Trust Estate, the Trust or the Trustee. (2) To do or perform any acts or things reasonable or appropriate for the continued operation and the conservation, protection and orderly administration of the Trust Estate. (3) To provide for the registration of the Units under the Federal Securities laws and such registration or qualification under State Securities or Blue Sky laws as it deems advisable, if required by law. (4) To create reserve funds for any purpose, including, without limitation, reserves to protect against contingent or unknown liabilities which might exist with respect to the Trust Estate, the Trust, the Trustee or the prior operations or activities of CRC. (5) To incur and pay out of the Trust Estate any charges or expenses, and disburse any funds of the Trust, which charges, expenses or disbursements are, in the opinion of the Trustee, necessary or incidental to or desirable for the carrying out of any of the purposes of the Trust, including, without limitation, taxes and other governmental levies, charges and assessments of whatever kind or nature, imposed upon or against the Trustee in connection with the Trust or the Trust Estate or upon or against the Trust Estate or any part thereof. (6) To invest and re-invest funds of the Trust in demand and time deposits in banks or savings institutions, short-term certificates of deposit, or U.S. Treasury Bills subject to the requirements that the maturity date of such investments shall be such as to permit the Trustee to pay all debts as they become due and payable and to pay the Holders at least annually all sums in excess of reserves for claims and contingent liabilities. (7) To appoint, engage and employ any persons as agents, representatives, employees or independent contractors to act as investment advisors, attorneys, or accountants for or to the Trust and the Trust Estate and to pay compensation from the Trust Estate for such services. (8) To collect, sxx xxx for, and receive all sums of money coming due to the Trust, and to engage in, intervene in, prosecute, join, defend, compound, compromise, abandon or adjust by arbitration or otherwise any actions, suits, proceedings, disputes, claims, controversies, demands or other litigation relating to the Trust, the Trust Estate or the Trust's affairs, to enter into agreements therefore, whether or not any suit is commenced or claim accrued or asserted and, in advance of any controversy, to enter into agreements regarding arbitration, adjudication or settlement thereof. (9) To purchase and pay for, out of the Trust Estate, insurance contracts and policies insuring the Trust Estate against any and all risks and insuring the Trust, the Trustee, the Holders or the agents and employees of the Trust, or any or all of them, against any and all claims and liabilities of every nature asserted by any person arising by reason of any action alleged to have been taken or omitted by the Trust or by the Trustee. Holders or agents or employees. (10) To file any and all documents and take any and all such other action as the Trustee, in its sole judgment, may deem necessary in order that the Trust may lawfully carry out its purposes in any jurisdiction. (11) To prepare and file, or assist in the preparation and filing of, Federal and State tax returns and reports required to be filed on behalf of the Trust, the Trustee or the Holders. (12) To do or take any action necessary, and to execute and deliver any documents necessary, to enforce the rights resulting from the Agreement for the sale of the CRC assets to Global Resource Corporation, including without limitation, any actions pertaining to collection of the monies, the collection of any insurance funds, foreclosure of any lien or mortgage, and reacquisition, to own, operate and manage the property until it can be sold. (13) To do all other such acts and things as are incidental to the foregoing, and to exercise all powers which are necessary or useful to promote and attain any of the purposes for which the Trust is formed, and to carry out the provisions of this Trust Agreement. The enumeration of powers in this Article Four shall not be considered as a limitation upon the power of the Trustee to act in furtherance of the purposes of the Trust and in such manner as it, in its sole discretion, deems necessary or advisable to conserve, protect and administer the Trust Estate.

Specific Powers and Authorities. Subject only to the express limitations contained in this Trust Agreement and in addition to any powers and authorities conferred by this Trust Agreement or which the Trustee may have by virtue of any present or future statute or rule of law, the Trustee without any action or consent by the Holders may exercise at any time and from time to time the following powers and authorities which may or may not be exercised by it in its sole judgment and discretion and in such manner and upon such terms and conditions as it may from time to time deem proper for the sole purpose of liquidating the Trust Estate and distribution of the proceeds of liquidation to the Holders, and not for the operation of a business: (1) To collect, liquidate or otherwise convert into cash, or such other property as they deem appropriate, all property, assets and rights in the Trust Estate, and to pay, discharge and satisfy all liabilities, expenses, obligations and claims existing with respect to the Trust Estate, the Trust or the Trustee. (2) To do or perform any acts or things reasonable or appropriate for the continued operation and the conservation, protection and orderly administration of the Trust Estate. (3) To provide for the registration of the Units under the Federal Securities laws and such registration or qualification under State Securities or Blue Sky laws as it deems advisable, if required by law. (4) To create reserve funds for any purpose, including, without limitation, reserves to protect against contingent or unknown liabilities which might exist with respect to the Trust Estate, the Trust, the Trustee or the prior operations or activities of CRCMOBILESTREAM. (5) To incur and pay out of the Trust Estate any charges or expenses, and disburse any funds of the Trust, which charges, expenses or disbursements are, in the opinion of the Trustee, necessary or incidental to or desirable for the carrying out of any of the purposes of the Trust, including, without limitation, taxes and other governmental levies, charges and assessments of whatever kind or nature, imposed upon or against the Trustee in connection with the Trust or the Trust Estate or upon or against the Trust Estate or any part thereof. (6) To invest and re-invest funds of the Trust in demand and time deposits in banks or savings institutions, short-term certificates of deposit, or U.S. Treasury Bills subject to the requirements that the maturity date of such investments shall be such as to permit the Trustee to pay all debts as they become due and payable and to pay the Holders at least annually all sums in excess of reserves for claims and contingent liabilities. (7) To appoint, engage and employ any persons as agents, representatives, employees or independent contractors to act as investment advisors, attorneys, or accountants for or to the Trust and the Trust Estate and to pay compensation from the Trust Estate for such services. (8) To collect, sxx xxx for, and receive all sums of money coming due to the Trust, and to engage in, intervene in, prosecute, join, defend, compound, compromise, abandon or adjust by arbitration or otherwise any actions, suits, proceedings, disputes, claims, controversies, demands or other litigation relating to the Trust, the Trust Estate or the Trust's affairs, to enter into agreements therefore, whether or not any suit is commenced or claim accrued or asserted and, in advance of any controversy, to enter into agreements regarding arbitration, adjudication or settlement thereof. (9) To purchase and pay for, out of the Trust Estate, insurance contracts and policies insuring the Trust Estate against any and all risks and insuring the Trust, the Trustee, the Holders or the agents and employees of the Trust, or any or all of them, against any and all claims and liabilities of every nature asserted by any person arising by reason of any action alleged to have been taken or omitted by the Trust or by the Trustee. Holders or agents or employees. (10) To file any and all documents and take any and all such other action as the Trustee, in its sole judgment, may deem necessary in order that the Trust may lawfully carry out its purposes in any jurisdiction. (11) To prepare and file, or assist in the preparation and filing of, Federal and State tax returns and reports required to be filed on behalf of the Trust, the Trustee or the Holders. (12) To do or take any action necessary, and to execute and deliver any documents necessary, to enforce the rights resulting from the Agreement for the sale of the CRC MOBILESTREAM assets to Global Resource Corporation, including without limitation, any actions pertaining to collection of the monies, the collection of any insurance funds, foreclosure of any lien or mortgage, and reacquisition, to own, operate and manage the property until it can be sold. (13) To do all other such acts and things as are incidental to the foregoing, and to exercise all powers which are necessary or useful to promote and attain any of the purposes for which the Trust is formed, and to carry out the provisions of this Trust Agreement. The enumeration of powers in this Article Four shall not be considered as a limitation upon the power of the Trustee to act in furtherance of the purposes of the Trust and in such manner as it, in its sole discretion, deems necessary or advisable to conserve, protect and administer the Trust Estate.