Termination Upon Failure to Appoint Successor. In the event that the Manager shall fail to appoint a successor to the Trustee, this Master Trust Agreement shall be terminated upon the effective date of the resignation or removal of the Trustee under Sections 11.1 and 11.2, as the case may be, and the assets of Funds shall be distributed in accordance with the termination provisions set out in Article 20 and the Trustee shall continue to act as trustee of the Funds until all of the assets of Funds have been so distributed. Fees and expenses of the Trustee shall, to the extent permitted by law, be a charge on the assets of the applicable Funds or the interests of the Unitholders of those Funds to secure payment thereof.
Appears in 7 contracts
Samples: Master Trust Agreement, Master Trust Agreement, Master Trust Agreement
