Trust Purposes. The purposes of this Irrevocable Management Trust Agreement (the “Trust Purposes”) are that the Trustee perform each and every one of the activities, and that it complies with each and every one of the obligations described in this Clause 2.4, and in this Agreement, including (i) receiving the Initial Contribution, the Vitel Shares, and the OBM Shares, and exercise, under instructions from the Beneficiary A, and Beneficiary B, as applicable, the corporate and property rights and obligations resulting from holding the Vitel Shares, and the OBM Shares, respectively, in terms of this Agreement and in compliance with the Shareholders Agreement; (ii) manage the Trust Property pursuant to the provisions of this Agreement; (iii) provide to the Beneficiaries the Distributions that it receives as a result holding the Vitel Shares and the OBM Shares, respectively, in terms of this Agreement; and (iv) perform all such activities that the Beneficiaries, as applicable, instruct the Trustee in writing, which are specific for the activities described in this Clause. In connection with the foregoing, the Trustee shall:
(a) be the sole and legitimate owner, maintain and preserve ownership of the property and rights that, currently, or in the future, form part of the Trust Property during the term of this Agreement;
(b) establish, maintain, and manage the Trust Accounts to adequately manage the funds that form part of the Trust Property, pursuant to the provisions of this Agreement, and apply all funds to the Trust Accounts (including the Permitted Investments) pursuant to this Agreement;
(c) receive from Beneficiary A fiduciary ownership of, and title over, the Vitel Shares;
(d) receive from Beneficiary B fiduciary ownership of, and title over, the OBM Shares;
(e) exercise the corporate and property rights resulting from the Vitel Shares and the OBM Shares, pursuant to the provisions of this Agreement and the Shareholders Agreement;
(f) receive from Vitel and OBM amounts from dividends, equity reimbursements, or that are otherwise distributed in alignment to any legal requirement, respectively, to their shareholders;
(g) provide to the Beneficiaries the Distributions that it receives from Vitel and OBM, respectively, pursuant to the provisions of this Agreement;
(h) dispose of the Vitel Shares in terms of written instructions it receives from Beneficiary A in terms of this Agreement;
(i) dispose of the OBM Shares in terms of written instructions it receives from Beneficiar...
Trust Purposes. The sole purpose of this Trust is to receive funds and to pay all expenses reasonably related to the legal representation of the Beneficiary in connection with the matter described in Article I, relating to or arising by virtue of the Beneficiary’s employment by or service to the [agency], and to pay all taxes which arise from the existence of this Trust or for which the Beneficiary may become liable as a result of the establishment of this Trust. This Trust will be established, administered, and terminated in conformity with all applicable gift and ethics rules, including but not limited to 5 C.F.R. § 2635 and 5 U.S.C. §§ 7351 and 7353, and all applicable rules governing Federal Executive Branch employees.
Trust Purposes. The purposes of this Agreement (the "Trust Purposes") are to guarantee the timely and proper performance and payment of each and every one of the Obligations Guarantees for the benefit of the Trust Beneficiary. For such purposes and effects the Trustee must:
a). Be the sole lawful owner and possessor of the Trust Estate (as same may decrease or increase from time to time, in accordance with the terms provided by this Agreement), free of all Encumbrances and without any reservation or limitation of ownership control whatsoever, during the term of this Agreement, and in any event, until the timely and proper performance of each and every one of the Guaranteed Obligations, and until such time as the Trust Beneficiary has delivered a Termination Notice to the Trustee; Jose Visoso del Valle Federal District Notarx Xx. 00
Trust Purposes. The general purposes of the Trust are to promote the financial welfare of Museum London and to xxxxxx a continuing improvement in the services offered by Museum London and the development and implementation of programs to assist with the needs of Museum London for the benefit of the public generally. In this regard, the Trustee shall work cooperatively with representatives of each Beneficiary to develop and implement strategic plans and policies for the management and use of the Trust Property, consistent with the purposes set out in this Agreement and in the Letter of Understanding. In developing and implementing the strategic plans, the Trustee may seek expert advice on investments, taxation, strategic planning, finance and such other advice as the Trustee deems appropriate in the circumstances.
Trust Purposes. The primary purposes of this trust are:
1. Care of Grantor. To provide for our care and maintenance as long as at least one of us is living;
2. Avoid Conservatorship. To facilitate management of the trust property in the event of the incapacity of one or both of us; and
3. Transfer Property at Death. To facilitate transfer of the trust property on the death of the last of us to die with minimal or no court intervention or probate proceedings.
Trust Purposes. The purposes of this Trust are:
a. That the Trustee receives all right, title and interest to the Trust Shares; that the Trustee receives and credits for the benefit of each Equity Settlor (including the Mexican Government pursuant to and to the extent contemplated in the definition of “Equity Settlors” in Clause 1 and in Clauses 3(b)(iv) and 23(b)(ii)), any Distributions attributable to the respective Equity Settlor; and that the Trustee maintains the Trust Shares transferred or delivered to, or acquired by, the Trustee pursuant to the terms of this Trust for the benefit of the Equity Settlors (including the Mexican Government as provided above) as herein provided;
b. That the Trustee exercises all corporate and economic rights relating to the Trust Shares pursuant to the terms of Clauses 8, 9 and 10 hereof:
c. That the Trustee notifies Nafin of and performs the sale of the Trust Shares and distributes the proceeds realized from that sale, together with any other rights, cash or assets attributable to the respective Trust Shares, pursuant to the terms of Clause 11 hereof;
d. That the Trustee receives, manages, invests and disposes all moneys and amounts conforming Trust Assets pursuant to the terms of this Trust;
e. That the Trustee grants, and receives from the Equity Settlors, the proxies and general or special powers-of-attorney required for the attainment of the purposes of this Trust and for the defense of the Trust Assets;
f. That the Trustee exercises its rights as a third party beneficiary (or otherwise) arising under or pursuant to the Nafin Trust, as necessary or advisable, to enforce the obligations of Nafin thereunder, but always in accordance with the terms and provisions of this Trust; and
g. That the Trustee performs all such other actions as required or otherwise provided under this Trust.
Trust Purposes. The sole purpose of this Trust is to receive donations and to pay all expenses reasonably related to the legal representation of any designated beneficiary of the Trust in connection with the matter described in Paragraph B. This Trust will be established, administered, and terminated in conformity with the New York Estates, Powers, and Trusts Law, Chapter 11 of Title 3 of the New York City Administrative Code, and Rules of the New York City Conflicts of Interest Board.
Trust Purposes. The Trust Founders-Beneficiaries hereby instruct and authorize the Trustee to take the actions and steps needed to meet the following Trust Purposes:
Trust Purposes. The trust purposes (“Trust Purposes”) are:
(i) That Trustee is to be the sole legitimate holder and owner of the Trust Estate administering the Trust Estate in accordance with Technical Committee’s instructions, in terms and under conditions of this Agreement throughout the effective term hereof.
(ii) That Trustee acquires, purchases and/or subscribes and pays Plan Shares with funds contributed by Vesta into the Trust Estate (“Subscription Funds”); the above on the understanding that Vesta will only be entitled to receive, in exchange for the transfer of Subscription Funds or any other amount, a tax proof issued by Trustee in accordance with applicable tax laws.
(iii) That Trustee receives Plan’s Part A Shares to be contributed by Xxxxx into the Trust Estate.
(iv) That upon termination of this Trust and under the scenarios provided for under the Incentive Plan, Trustee is to transfer Vesta (or to those designated by the latter) any assets and rights then integrating the Trust Estate in accordance with instructions from Technical Committee and the Applicable Laws.
(v) Trustee, in accordance with the provisions of this Agreement and as per instructions received by Technical Committee, is to perform the acts required or convenient for due implementation and performance with the Incentive Plan in accordance with Articles 57 and 367 of the LMV, including, among other: (a) the acquisition, subscription and/or payment of any Shares under Trust in accordance with the Incentive Plan and this Agreement; (b) reception of Distributions corresponding to Shares under Trust; (c) in accordance with the provisions of this Agreement, is to maintain, invest or deliver to Trust Beneficiaries, as applicable, Distributions received as holder and owner of Shares under Trust; and (d) Trustee is to transfer Shares under Trust to Trust Beneficiaries in accordance with this Agreement and the Incentive Plan.
(vi) The exercise by Trustee of rights corresponding to the Shares under Trust integrating the Trust Estate (including, without limitation, Economic Rights and Voting Rights) in accordance with this Agreement and written instructions delivered thereto by Technical Committee, directly or through third parties at its instruction.
(vii) The Transfer of Trust Beneficiary Rights corresponding to Shares under Trust in accordance with written instructions from Technical Committee and in strict adherence to provisions of this Trust and the Transfer of Shares and any Dividends or Distribu...
Trust Purposes. 2.1 The Trustees shall hold the Trust Fund upon trust to further the Purposes.
2.2 The Trustees may resolve any uncertainty regarding the Purposes or as to how they are to be furthered.
2.3 If the furtherance of the Purposes becomes in whole or in part:
(a) impossible or impracticable; or
(b) unlawful or contrary to public policy; or
(c) obsolete in that, by reason of changed circumstances, the Purposes fail to achieve the general intent of this settlement; the Trustees may reform the Purposes as they think fit.
