Common use of Trust Only Clause in Contracts

Trust Only. It is the intention of the Trustees to create only a statutory trust under the Act with the relationship of trustee and beneficiary between the Trustees and each Holder from time to time. It is not the intention of the Trustees to create a general partnership, limited partnership, joint stock association, corporation, bailment or any form of legal relationship other than a Delaware statutory trust except to the extent such trust is deemed to constitute a partnership under the Code and applicable state tax laws. Nothing in this Declaration shall be construed to make the Holders, either by themselves or with the Trustees, partners or members of a joint stock association.

Trust Only. It is the intention of the Trustees to create only a statutory trust under the Act DSTA with the relationship of trustee Trustee and beneficiary between the Trustees and each Holder from time to time. It is not the intention of the Trustees to create a general partnership, limited partnership, joint stock association, corporation, bailment bailment, or any form of legal relationship other than a Delaware statutory trust except to the extent such trust is deemed to constitute a partnership under the Code and applicable state tax laws. Nothing in this Declaration shall be construed to make the Holders, either by themselves or with the Trustees, partners or members of a joint stock associationassociation except to the extent such Holders are deemed to be partners under the Code and applicable state tax laws. However, it is the intention of the Trustees to create a partnership among the Holders for purposes of taxation under the Code and applicable state tax laws.

Trust Only. It is the intention of the Trustees to create only a statutory ---------- business trust under the Act DBTA with the relationship of trustee Trustee and beneficiary between the Trustees and each Holder from time to time. It is not the intention of the Trustees to create a general partnership, limited partnership, joint stock association, corporation, bailment bailment, or any form of legal relationship other than a Delaware statutory business trust except to the extent such trust is deemed to constitute a partnership under the Code and applicable state tax laws. Nothing in this Declaration shall be construed to make the Holders, either by themselves or with the Trustees, partners or members of a joint stock associationassociation except to the extent such Holders are deemed to be partners under the Code and applicable state tax laws. However, it is the intention of the Trustees to create a partnership among the Holders for purposes of taxation under the Code and applicable state tax laws.