Specific Powers and Authority. In the administration of the Trust, in addition to any powers or authority conferred by this Declaration or which the Trustees may have by virtue of any present or future statute or rule of law, the Trustees, without any action or consent by the Shareholders, shall have and may exercise at any time and from time to time the following powers and authority, which may or may not be exercised by them in their sole judgment and discretion and in such manner and upon such terms and conditions as they may from time to time deem proper:
(i) To accept subscriptions and capital in exchange for Shares of Beneficial Interest and to issue certificates evidencing the same;
(ii) To develop, buy, acquire, invest in, maintain, improve, operate, hold, lease, finance, refinance, sell or otherwise dispose of, or in any other manner deal with or exercise powers and privileges with respect to, real or personal (including both tangible and intangible) property of any type or description, including, without limitation, debt or equity interests in one or more other entities, or any interest therein or part thereof, including the Partnership Interests in the Underlying Partnership (including, without limitation, exercising voting rights with respect to Trust property constituting such interests), upon such terms and for such consideration as they deem proper;
(iii) To make such contracts and enter into such other arrangements (including contracts and arrangements with Shareholders and their affiliates) from time to time as they deem expedient in the conduct of the Business;
(iv) To borrow money or guarantee the indebtednesses or contractual obligations of others, and to pledge and/or mortgage any or all of the Trust property as security therefor;
(v) To loan money, with or without security, on such terms as they deem proper;
(vi) To receive or xxx for all monies at any time becoming due to the Trust;
(vii) To bring, defend, and compromise actions or arbitrations, in the name of the Trust or the Trustees, at law or in equity;
(viii) To employ or retain as independent contractors any persons or entities (“Persons”), including Trustees, Shareholders, or any affiliate(s) of any of them, to perform services related to the conduct of the business of the Trust and the administration of the Trust, to confer upon such Persons such powers and authority as the Trustees may deem expedient, and to pay such Persons reasonable compensation for their services;
(ix) To consent to, and participate i...
Specific Powers and Authority. Without limiting the generality of the powers and authority set forth in Section 4.2 (and subject to the qualifications set forth above), the specific powers of the Managing Trustees shall include the following:
(a) For such consideration as the Managing Trustees deem proper, to purchase or otherwise acquire for cash or other property and hold for investment real or personal property of any kind, tangible or intangible, in entirety or in participation, all without regard to whether any such property is authorized by law for the investment of trust funds, and to possess and exercise all the rights, powers, and privileges appertaining to the ownership of the Trust Estate with respect thereto.
(b) To sell, rent, lease, hire, exchange, release, partition, assign, mortgage, pledge, hypothecate, grant security interests in, encumber, negotiate, convey, transfer, or otherwise dispose of or grant interests in all or any portion of the Trust Estate by deeds, financing statements, security agreements and other instruments, trust deeds, assignments, bills of sale, transfers, leases, or mortgages, for any of such purposes.
(c) To enter into leases, contracts, obligations, and other agreements for a term which may extend beyond the term of office of the Managing Trustees.
(d) To borrow money and give negotiable or nonnegotiable instruments therefor; to guarantee, indemnify, or act as surety with respect to payment or performance of obligations of third parties; to enter into other obligations on behalf of the Trust; and to assign, convey, transfer, mortgage, subordinate, pledge, grant security interests in, encumber, or hypothecate the Trust Estate to secure any of the foregoing.
(e) To lend money, whether secured or unsecured, to any Person.
(f) To create reserve funds for any purpose.
(g) 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 Managing Trustees, necessary or incidental to or desirable for the carrying out of any of the purposes of the Trust or conducting the business of the Trust, including, without limitation, fees payable to the Statutory Trustee, taxes and other governmental levies, charges, and assessments, of whatever kind or nature, imposed upon or against the Managing Trustees in connection with the Trust or the Trust Estate or upon or against the Trust Estate or any part thereof.
(h) To deposit funds of the Trust in or with bank...
Specific Powers and Authority. Subject only to the express limitations contained in this Declaration and in addition to any powers and authorities conferred by this Declaration or which the Trustees may have by virtue of any present or future statute or rule or law, and also subject to the REIT Provisions of the Internal Revenue Code, the Trustees, without any action or consent by the Shareholders, shall have and may exercise at any time and from time to time the following powers and authorities which may or may not be exercised by them in their sole judgment and discretion and in such manner and upon such terms and conditions as they may from time to time deem proper:
(a) to retain, invest and reinvest the capital or other funds of the Trust in, and to acquire, purchase, or own, mortgage and/or equity interests in real or personal property of any kind, all without regard to whether any such property is authorized by law for the investment of Trust funds or whether any investments may mature before the possible termination of the Trust, and to possess and exercise all the rights, powers, and privileges appertaining to the ownership of the Trust Estate and to increase the capital of the Trust at any time by the issuance of additional Shares or Securities of the Trust for such consideration as they deem appropriate;
(b) without limitation of the powers set forth in paragraph (a) above, for such consideration as they deem proper, to invest in, purchase, or otherwise acquire for cash or other property or through the issuance of Shares or through the issuance of notes, debentures, bonds, or other obligations of the Trust and hold for investment real, personal or mixed, tangible or intangible, property of any kind wherever located in the world, including without
(i) the entire or any participating interest in rents, lease payments, or other income from, or the entire or any participating interest in the profits from, or the entire or any participating interest in the equity or ownership of, Real Property; (ii) the entire or any participating interest in notes, bonds, or other obligations which are secured by Mortgages; (iii) in connection with any such investment, purchase or acquisition, a share of rents, lease payments, or other gross income from or a share of the profits from or a share in the equity or ownership of Real Property, either directly or through joint venture, general or limited partnership, or other lawful combinations or associations; (iv) loans secured by the pledge or trans...
Specific Powers and Authority. In the administration of the Trust, in addition to any powers or authority conferred by this Agreement the trustee shall have and may exercise at any time and from time to time, without any action or consent by the Stockholders, the following powers and authorities which may or may not be exercised by them in their sole judgment and discretion and in such manner and upon such terms and conditions as they may from time to time deem proper:
I. To purchase or otherwise acquire real or personal property, and to sell, exchange, mortgage, pledge, lease, or in any manner deal with the property of the Trust or any part thereof, or any interest therein (including, but not limited to, the assets of any entity owned by the Trust), upon such terms and for such considerations as they deem proper;
II. To make such contracts as they deem expedient in the conduct of the business of the Trust.
III. To borrow money to further the purposes of the Trust and/or to guarantee the obligations of or the repayment of the loans of other parties, and to pledge or mortgage any of the Trust property as security therefore, even though said pledge or mortgage may be for a period beyond the duration of the Trust.
IV. To loan money, with or without security, on such terms as they deem proper.
V. To receive or sue for all monies at any time becoming due to the Trust.
VI. To compromise, settle, or refer to arbitration or mediation or defend by legal action any claims against or rights of the Trust.
VII. To rely upon the opinion or advice of any persons deemed competent by the Trustees, to employ any person or persons, including Trustees, to perform services related to the conduct of the business of the Trust and the administration of the Trust, to confer upon such persons such powers and authority as the Trustees may deem expedient, and to pay such persons reasonable compensation for their services.
VIII. To consent to, and participate in, any plan of reorganization, consolidation, merger or other similar plan, including the acquisition of interest in one or more other entities, and consent to any contract, lease, mortgage, purchase, sale or other action pursuant to such plan.
IX. To hold bonds, shares or other securities in bearer form, and to cause legal title to any Trust property to be held in the name of one or more nominees.
X. To determine whether and in what manner any item should be charged, credited and/or allocated to income and/or corpus. To do such other things and incur such ot...
Specific Powers and Authority. In the administration of the Trust, in addition to any powers or authority conferred by this Agreement and Declaration of Trust or which the Trustees may have by virtue of any present or future statute or rule of law, the Trustees, without any action or consent by the Shareholders, shall have and may exercise at any time and from time to time the following powers and authorities which may or may not be exercised by them in their sole judgement and discretion and such manner and upon such terms and conditions as they may from time to time deem proper.
(i) To purchase or otherwise acquire real or personal property, and to sell, exchange, mortgage, pledge, lease, or in any manner deal with the property of the Trust or any part thereof, or any interest therein, upon such terms and for such considerations as they deem proper.
(ii) To make such contracts as they deem expedient in the conduct of the business of the Trust.
(iii) To borrow money to further the purpose of the Trust, and to pledge the Trust property as security therefor.
(iv) To loan money, with or without security, on such terms as they deem proper.
(v) To receive or xxx for all monies at any time becoming due to the Trust.
(vi) To compromise or refer to arbitration any claims against or rights of the Trust.
(vii) To employ any person or persons, including Trustees, to perform services related to the conduct of the business of the Trust and the administration of the Trust, to confer upon such persons such powers and authority as the Trustees may deem expedient, and to pay such persons reasonable compensation for their services.
(viii) To consent to, and participate in, any plan of reorganization, consolidation, merger or other similar plan and to consent to any contract, lease, mortgage, purchase, sale or other action pursuant to such plan.
(ix) To hold title in the name of a nominee.
(x) To do such other things and incur such other obligations as in their judgement will advance the purposes of the Trust.
Specific Powers and Authority
