Trust Termination. Notwithstanding Section 9.1(b) of the Vehicle Trust Agreement, the UTI Beneficiary shall not direct that the Vehicle Trust dissolve prior to payment in full of all amounts owed under the Vehicle Trust Agreement, the Trust Agreement and the Indenture and under any Securitized Financing in connection with an Other SUBI.
Trust Termination. Each Trust is irrevocable and will terminate only in accordance with the terms of the related Trust Documents. The obligations and responsibilities of the Issuer, the Guarantor and the Trustee, and of any successor Trustee, will terminate as to a Trust and Holders of the related Certificates upon the distribution to such Holders of all amounts required to be distributed under the related Trust Documents, including any amounts distributed pursuant to the Guaranty; provided, however, that in no event will any Trust created by the Trust Documents continue beyond the last day of the 60th year following the Issue Date for that Trust.
Trust Termination. The Trust is terminated pursuant to the PSA.
Trust Termination. At the Beneficiary's death, the account shall be terminated and distributed as follows:
(1) payment of any taxes due from the trust to the State of Alabama or any other state or the federal government because of the death of the Beneficiary; (2) payment of reasonable fees for administration of the trust such as an accounting of the trust to a court, completion and filing of documents, or other required actions associated with termination and wrapping up of the trust; (3) retention of 10 percent to AFT Corporation for the AFT Charitable Trust; (4) reimbursement to the State of Alabama or to any other state, the District of Columbia or any other commonwealth, territory, or jurisdiction of the United States for medical assistance paid on behalf of the Beneficiary under the plan of the respective jurisdiction; and (5) payment of the balance, if any, to remainder beneficiaries. If the AFT account is terminated for any reason other than death, the account shall be terminated and distributed as follows: (1) payment of reasonable fees for administration of the trust such as an accounting of the trust to a court, completion and filing of documents, or other required actions associated with termination and wrapping up of the trust; (2) reimbursement to the State of Alabama or to any other state, the District of Columbia, or any other commonwealth, territory, or jurisdiction of the United States, for medical assistance paid on behalf of the Beneficiary under the plan of the respective jurisdiction; and (3)payment of the balance, if any, to the Beneficiary.
Trust Termination. Section 13.1 Termination 61 Section 13.2 Notice of Termination 61
Trust Termination. (a) The Trust shall wind up and dissolve and the Trust Property shall be distributed to the Owners in accordance with Section 6.06 hereof upon the sale or other final disposition of the Trust Property pursuant to the written instruction of the Board of Managers and the final distribution of all moneys or other property or proceeds of the Trust. Upon the dissolution of the Trust and the completion of the winding up of the Trust’s affairs, the Owner Trustee upon written instruction of the Board of Managers shall file a certificate of cancellation pursuant to Section 3810 of the Act.
(b) The bankruptcy, liquidation, dissolution, death or incapacity of any Owner shall not (x) operate to terminate this Agreement or the Trust, nor (y) entitle such Owner’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Trust or Trust Estate nor (z) otherwise affect the rights, obligations and liabilities of the parties hereto.
(c) Notwithstanding anything to the contrary in this Agreement, this Agreement shall not terminate and cannot be revoked and the trust created hereby shall not wind up, dissolve, liquidate or terminate for so long as any Secured Obligations remain outstanding under the Loan Agreement and the lien of the Loan Agreement has not been released.
(d) None of the Depositor or any Owner shall be entitled to revoke or terminate the Trust.
Trust Termination. Each Trust is irrevocable, and will terminate only in accordance with the terms of the I- Trust Documents. The obligations and responsibilities of Xxxxxx Xxx, the Trustee, and of any successor Trustee, will terminate as to a Trust and its I-REMIC Interest Holders upon the distribution to I-REMIC Interest Holders of all amounts required to be distributed under the related I-Trust Documents; provided, however, that in no event will any Trust created by the I- Trust Documents continue beyond the last day of the 60th year following the Issue Date for that Trust.
Trust Termination. At the Beneficiary's death, if the Beneficiary has not received AFT Trust income or principal, then, subject to the payment of administrative fees and expenses as established by the AFT Corporation, an amount equal to the current fair market value of the balance of the Beneficiary's account in the AFT Trust as determined on the date of distribution shall be distributed to the remainder beneficiaries. If the Beneficiary has received any AFT Trust income or principal, then, subject to the payment of administrative fees and expenses as established by the AFT Corporation, an amount equal to 95 percent of the fair market value of the principal balance of the Beneficiary's account (as determined on the date of distribution) shall be distributed to the Remainder Beneficiaries. The remaining balance of the Beneficiary's account shall be distributed to the AFT Charitable Trust.
Trust Termination. Final Remainder
Trust Termination. Notwithstanding Section 9.1 of the Vehicle Trust Agreement, in no event shall the Trust terminate prior to payment in full of all amounts owed under the Vehicle Trust Agreement, the Trust Agreement and the Indenture and under any financing in connection with an Other SUBI.
