Trust is Irrevocable Sample Clauses
The 'Trust is Irrevocable' clause establishes that the trust cannot be altered, amended, or revoked by the settlor once it has been created. In practice, this means that the assets placed into the trust are permanently removed from the settlor's ownership and control, and the terms governing the trust's administration and distribution cannot be changed. This clause provides certainty and security to beneficiaries, ensuring that the settlor cannot later change their mind or reclaim the assets, and it is often used to achieve specific estate planning goals or to protect assets from creditors.
Trust is Irrevocable. This Trust Agreement and the Trust shall be irrevocable and, except as provided in Section 5.01 hereof, unamendable except that the Board of Governors may terminate or amend its authorization pursuant to Section 13(3) of the Federal Reserve Act, thereby revoking or amending the Trust in accordance with Federal law, provided, however, that a Trustee’s rights to resign as a trustee hereunder and to compensation and indemnification with respect to acts or omissions occurring prior to any such revocation or amendment may not be modified without the written consent of that Trustee.
Trust is Irrevocable. The trust created hereby is irrevocable by Grantor subject to defeasance in accordance with this Deed of Trust.
Trust is Irrevocable. The Trust created by this Indenture shall be irrevocable.
Trust is Irrevocable. The trust created hereby is -------------------- irrevocable by the Trustor.
Trust is Irrevocable. This Trust Agreement during the term of the trust shall be irrevocable by the Stockholder and the Company and their Affiliates and shall terminate only in accordance with, and to the extent of, the provisions of Paragraph 7 hereof.
Trust is Irrevocable. This Trust Agreement and the nomination of the Trustee during the term of the trust shall be irrevocable by the Parent, the Acquiror, NSC and LLC and their affiliates and shall terminate only in accordance with, and to the extent of, the provisions of Paragraphs 8 and 14 hereof.
Trust is Irrevocable. This Agreement and the Trust shall be irrevocable. Notwithstanding any contrary provision of law governing the administration of the Trust, except as provided in Section 11.1 hereof, this Agreement and the Trust may not be altered or amended.
Trust is Irrevocable. The trust created hereby is irrevocable by the Borrower subject to defeasance in accordance with this Deed of Trust.