Common use of Subtrusts Clause in Contracts

Subtrusts. (a) The MART Assets, immediately upon the acquisition thereof by MART, shall be allocated to, and identified only with, a Subtrust under this Agreement (each such subtrust, a "Subtrust", and the assets allocated to each such Subtrust, "Subtrust Assets"). Each Subtrust shall be a separate series of MART pursuant to Section 3806(b)(2) of the Business Trust Statute. The Board of Managers shall cause an Authorized Officer to account for and record separately all Subtrust Assets and the proceeds thereof allocated to any Subtrust from the Subtrust Assets and the proceeds thereof allocated to any other Subtrust. The Board of Managers shall cause an Authorized Officer to maintain separate and distinct records for the Subtrust Assets related to each Subtrust and to hold and account for the Subtrust Assets related to each Subtrust separately from the Subtrust Assets related to any other Subtrust. Except to the extent required by law or specified in this Agreement, the debts, liabilities and expenses incurred, contracted for or otherwise existing with respect to any Subtrust shall be enforceable against the assets of such Subtrust only, and not against the assets of MART generally or of any other Subtrust, and, except to the extent required by law or specified in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to MART generally shall be enforceable against the assets of any Subtrust.

Subtrusts. (a) The MART II Assets, immediately upon the acquisition thereof by MARTMART II, shall be allocated to, and identified only with, a Subtrust under this Agreement (each such subtrust, a "Subtrust", ," and the assets allocated to each such Subtrust, "Subtrust Assets"). Each Subtrust shall be a separate series of MART II pursuant to Section 3806(b)(2) of the Business Trust Statute. The Board of Managers shall cause an Authorized Officer to account for and record separately all Subtrust Assets and the proceeds thereof allocated to any Subtrust from the Subtrust Assets and the proceeds thereof allocated to any other Subtrust. The Board of Managers shall cause an Authorized Officer to maintain separate and distinct records for the Subtrust Assets related to each Subtrust and to hold and account for the Subtrust Assets related to each Subtrust separately from the Subtrust Assets related to any other Subtrust. Except to the extent required by law or specified in this Agreement, the debts, liabilities and expenses incurred, contracted for or otherwise existing with respect to any Subtrust shall be enforceable against the assets of such Subtrust only, and not against the assets of MART II generally or of any other Subtrust, and, except to the extent required by law or specified in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to MART II generally shall be enforceable against the assets of any Subtrust.