Transfer of Trust Property. Church hereby transfers to Trustee the property listed on the attached investment direction form, and the Trustee hereby acknowledges receipt thereof and agrees to hold such property and any other property that Church may from time to time transfer to Trustee (the “Trust Property”), for the uses and purposes of this Agreement.
Transfer of Trust Property. The trustees shall be competent in their absolute discretion to transfer and assign the trust fund to any recognized trust, society or institution having charitable objects for the purpose of administering the trust fund. The trust created hereby is irrevocable.
Transfer of Trust Property. Upon execution of this Agreement, the Trustor, as its interests may appear, shall transfer to the Trustee the Trust Property, subject to the terms and conditions and for the use and purposes of this Agreement. The Trustor conveys and grants to the Trustee, now and hereafter, all powers necessary to carry out the Trustee's duties and responsibilities under this Agreement. The Trustor shall be the beneficiary of the Trust.
Transfer of Trust Property. In the event the Trustee’s term of appointment expires, the Trustee resigns, the Trustee is removed or the office of the Trustee is otherwise vacated for any reason, such Trustee shall, within 30 days of receiving notice from Council in the form of a Band Council Resolution, transfer the Trust Property and provide all records relating to the Trust and Trust Property to the Replacement Trustee as directed by Council in such Band Council Resolution. Any costs associated with such transfer shall be considered to be an Authorized Expense and reimbursed to the former Trustee.
Transfer of Trust Property. (a) On or as soon as practicable following the Effective Date, pursuant to the Plan and Sections 1123(a)(5)(B) and 1123(b)(3)(B) of the Code (to the extent applicable), title to the Trust Property will be reserved, preserved, assigned, transferred and conveyed, as the case may be, as follows: (i) Majestic I will execute one or more quit claim deeds, substantially in the form attached hereto as Exhibit B, transferring ownership of the Land to the Liquidating Trust, (ii) Majestic I will execute an assignment and assumption agreement, substantially in the form attached hereto as Exhibit C, pursuant to which certain environmental or pollution legal liability insurance policies associated with the Land and described in Exhibit C will be assigned to the Liquidating Trust, (iii) Majestic I and Majestic II will execute an assignment and assumption agreement, substantially in the form attached hereto as Exhibit D, pursuant to which certain rights and obligations pertaining to the Land under the Old Development Agreements will be transferred to the Liquidating Trust, (iv) the Majestic Parties and the Liquidating Trustee will execute the Funding Agreement, pursuant to which the Majestic Parties agree to fund the Liquidating Trust up to an aggregate maximum amount of $1,270,000 to be used to fund reasonable and necessary expenses of the Liquidating Trust and the Liquidating Trustee, on the terms and subject to the conditions set forth therein, and (v) the foregoing assets and the proceeds thereof, including any interest earned thereon, will be reserved, preserved, assigned, transferred and conveyed, as the case may be, to the Liquidating Trust; in each case, free and clear of liens, claims, encumbrances and interests, except as expressly provided herein.
(b) On the Effective Date, the Liquidating Trust shall assume any and all liabilities associated with the Trust Property.
(c) On the Effective Date, any past, present or future right on behalf of the Debtors to recover any amounts from the City of Xxxx in connection with any environmental indemnities and/or remediation obligations (including, without limitation, investigation and corrective actions) pertaining to the Land (either currently existing in the Old Development Agreements or in any New Development Agreement (as hereinafter defined)) (the “Recovery Rights”) shall vest in the Liquidating Trust. Each Majestic Party agrees that it shall (and it shall cause its affiliates to) take all steps necessary and appropri...
Transfer of Trust Property. Upon the execution of this Agreement by the parties and final approval of the Agreement and the Trustee by the CCC and the consummation of the Merger, the Parent shall transfer and convey the Trust Property to the Trustee, subject to the terms and conditions and for the use and purposes of this Agreement. Subject to the provisions of the Act and this Agreement, Parent shall be the beneficiary of the Trust.
Transfer of Trust Property. Except for transfers to "affiliates" (a person or entity who, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, Trustor or Trustor's affiliates, as defined and interpreted by federal securities laws), and except as hereinafter specifically provided in subparagraph C(10)(b) below, Trustor shall not, without obtaining Beneficiary's prior written consent (which consent may be given or withheld in Beneficiary's absolute discretion, grant, convey, sell, encumber, exchange, assign, lease, option, grant a right of first refusal, contribute to a partnership, joint venture, corporation or other legal entity or otherwise transfer or dispose of (whether directly or indirectly and whether voluntarily, involuntarily or by operation of law) the Trust Property or any part thereof or any interest therein, or enter into any agreement or make any arrangement to do any of the foregoing (individually or collectively, a "transfer"). Any transfer attempted or undertaken in violation of the provisions of this Section shall, at Beneficiary's option, be null and void and of no force and effect whatsoever, and the same also shall constitute a default hereunder (and notwithstanding any other provision hereof, without any requirement of notice or opportunity to cure) entitling Beneficiary, at its option, to avail itself of any and all rights, powers and remedies provided therefor in this Deed of Trust, or under the Note or under any other instrument relating thereto, or at law or in equity. Consent to any particular transfer shall not be deemed to be consent under any other instrument relating thereto, or at law or in equity. Consent to any particular transfer shall not be deemed to be consent to any further or other transfer. Whether or not Beneficiary has consented to any transfer, Beneficiary may deal with Trustor's successor-in-interest (without respect to this Deed of Trust and the indebtedness) in the same manner as with the Trustor herein named without in any way vitiating or discharging Trustor's liability hereunder or for the indebtedness. All transfers consented to hereunder shall be evidenced by a written instrument, duly and properly executed and acknowledged by each of the parties thereto and, if requested by Beneficiary, in form suitable for recording. No transfer, whether or not undertaken in violation of this Section shall release Trustor from any of its obligations under this Deed of Trust or the N...
Transfer of Trust Property. After the assignment of the Existing Notes and the Existing Holder Certificates to the Lessor, the Lessor directs, in connection with the termination and dissolution of the Trust, and the Lessee and each Guarantor consent to such direction, the Owner Trustee to take all necessary action to convey, assign and transfer to the Lessor all of its right, title and interest in and to all of the Owner Trustee's and the Trust's assets and all of the Owner Trustee's obligations and liabilities pursuant to the Existing Operative Agreements (provided, however, (a) such conveyance shall only include liabilities of the Owner Trustee incurred pursuant to and in compliance with the Existing Operative Agreements and not those of the Trust Company whether related to the Existing Operative Agreements or otherwise and (b) the Lessor shall not have any obligation to remove or take any other action with respect to Lessor Liens), in all cases free and clear of Lessor Liens arising prior to such conveyance, assignment and transfer, including without limitation the ownership, ground lease interest and all other right, title and interest in and to the real property, personal property, improvements, fixtures, and tangible and intangible property of the Owner Trustee or the Trust. The Owner Trustee shall promptly cause to be taken, executed, notarized, authorized, acknowledged, consented, and delivered, as applicable, all such further acts, conveyances, documents, instruments and assurances to complete the conveyance contemplated herein and to otherwise effectuate the intent and purpose of this Agreement.
Transfer of Trust Property. Within one (1) business day following the occurrence of a Trigger Event, Argosy shall or shall cause the Agent to transfer, or cause to be transferred, the Trust Property to the Trustee and the Trustee shall accept such Trust Property and hold it in trust, subject to the terms and conditions and for the use and purposes set forth in this Agreement and the Trust Agreement and to the lien and security interest in favor of the Agent, for the benefit of itself and the Lenders, securing the Obligations. The Trustee shall enter into such documentation as shall reasonably be required by the Agent to evidence the continuing existence of such lien following such transfer.
Transfer of Trust Property. Immediately on removal or retirement, the Trustee shall transfer all trust property held by it to the continuing and/or any successor trustee and deliver all documents in its possession relating to the Plan as the Board may direct. If it does not do so, the continuing trustee or any successor trustee may do so on its behalf.
