Common use of Trustee Accounts Clause in Contracts

Trustee Accounts. 8.1 Without prejudice to any provision in this Agreement and/or any Applicable Agreement, where you are acting as trustee of a trust, you undertake, represent and warrant to us that: (a) you have full capacity, power and authority, in your capacity as trustee of the trust, in accordance with the terms of the document constituting the trust (the “Trust Deed”) and all Applicable Laws, to enter into and to perform and deliver this Agreement and any Applicable Agreement (including any Applicable Agreement relating to Credit Facilities made available to you); and (b) you shall ensure that all Instructions given and all Investments and Transactions undertaken by you, in your capacity as trustee of the trust, are in accordance with the terms of the Trust Deed and all Applicable Laws. 8.2 You acknowledge and agree that we will not, nor shall we be under any duty or obligation to, verify and/or monitor any of the matter referred to in Clause 8.1 and/or review or retain a copy of the Trust Deed. 8.3 Where you are an individual trustee, upon receipt of notice of your death or incapacity (whether mental or otherwise), we may, subject to the production and/or execution of such documents (including any grant of probate or letter of administration) and/or indemnities as we may require, do any of the following: (a) if your Account is in the name of more than one trustee, we may hold the Assets in your Account to the order of the surviving or other trustee(s); or (b) if there is no surviving or other trustee: (i) if the beneficiary is a corporation or if none of the beneficiaries (being individuals) is a Minor, we may close your Account and transfer the Assets therein to the beneficiary or each of the beneficiaries in equal shares; or (ii) if any of the beneficiaries is a Minor, we may close your Account and transfer the Assets therein to your legal or personal representatives to be held in trust for the beneficiaries. DBS Bank Ltd., Singapore 15 Co. Reg. No. 196800306E Notwithstanding the foregoing, we may, in our absolute discretion suspend and/or freeze the operation of your Account until we are able to determine, to our satisfaction, the person(s) entitled to ownership, management or control of the Assets therein.

Trustee Accounts. 8.1 Without prejudice to any provision in this Agreement and/or any Applicable Agreement, where you are acting as trustee of a trust, you undertake, represent and warrant to us that: (a) you have full capacity, power and authority, in your capacity as trustee of the trust, in accordance with the terms of the document constituting the trust (the “Trust Deed”) and all Applicable Laws, to enter into and to perform and deliver this Agreement and any Applicable Agreement (including any Applicable Agreement relating to Credit Facilities made available to you); and (b) you shall ensure that all Instructions given and all Investments and Transactions undertaken by you, in your capacity as trustee of the trust, are in accordance with the terms of the Trust Deed and all Applicable Laws. 8.2 You acknowledge and agree that we will not, nor shall we be under any duty or obligation to, verify and/or monitor any of the matter referred to in Clause 8.1 and/or review or retain a copy of the Trust Deed. 8.3 Where you are an individual trustee, upon receipt of notice of your death or incapacity (whether mental or otherwise), we may, subject to the production and/or execution of such documents (including any grant of probate or letter of administration) and/or indemnities as we may require, do any of the following: (a) if your Account is in the name of more than one trustee, we may hold the Assets in your Account to the order of the surviving or other trustee(s); or (b) if there is no surviving or other trustee: (i) if the beneficiary is a corporation or if none of the beneficiaries (being individuals) is a Minor, we may close your Account and transfer the Assets therein to the beneficiary or each of the beneficiaries in equal shares; oror DBS Bank Ltd., Singapore 15 Co. Reg. No. 196800306E (ii) if any of the beneficiaries is a Minor, we may close your Account and transfer the Assets therein to your legal or personal representatives to be held in trust for the beneficiaries. DBS Bank Ltd., Singapore 15 Co. Reg. No. 196800306E Notwithstanding the foregoing, we may, in our absolute discretion suspend and/or freeze the operation of your Account until we are able to determine, to our satisfaction, the person(s) entitled to ownership, management or control of the Assets therein.

Trustee Accounts. 8.1 Without prejudice to any provision in this Agreement and/or any Applicable Agreement, where you are acting as trustee of a trust, you undertake, represent and warrant to us that: (a) you have full capacity, power and authority, in your capacity as trustee of the trust, in accordance with the terms of the document constituting the trust (the “Trust Deed”) and all Applicable Laws, to enter into and to perform and deliver this Agreement and any Applicable Agreement (including any Applicable Agreement relating to Credit Facilities made available to you); and (b) you shall ensure that all Instructions given and all Investments and Transactions undertaken by you, in your capacity as trustee of the trust, are in accordance with the terms of the Trust Deed and all Applicable Laws. 8.2 You acknowledge and agree that we will not, nor shall we be under any duty or obligation to, verify and/or monitor any of the matter referred to in Clause 8.1 and/or review or retain a copy of the Trust Deed. 8.3 Where you are an individual trustee, upon receipt of notice of your death or incapacity (whether mental or otherwise), we may, subject to the production and/or execution of such documents (including any grant of probate or letter of administration) and/or indemnities as we may require, do any of the following: (a) if your Account is in the name of more than one trustee, we may hold the Assets in your Account to the order of the surviving or other trustee(s); or (b) if there is no surviving or other trustee: (i) if the beneficiary is a corporation or if none of the beneficiaries (being individuals) is a Minor, we may close your Account and transfer the Assets therein to the beneficiary or each of the beneficiaries in equal shares; or (ii) if any of the beneficiaries is a Minor, we may close your Account and transfer the Assets therein to your legal or personal representatives to be held in trust for the beneficiaries. DBS Bank Ltd., Singapore 15 Co. Reg. No. 196800306E Notwithstanding the foregoing, we may, in our absolute discretion suspend and/or freeze the operation of your Account until we are able to determine, to our satisfaction, the person(s) entitled to ownership, management or control of the Assets therein.

Trustee Accounts. 8.1 Without prejudice to any provision in this Agreement and/or any Applicable Agreement, where you are acting as trustee of a trust, you undertake, represent and warrant to us that: (a) you have full capacity, power and authority, in your capacity as trustee of the trust, in accordance with the terms of the document constituting the trust (the “Trust Deed”) and all Applicable Laws, to enter into and to perform and deliver this Agreement and any Applicable Agreement (including any Applicable Agreement relating to Credit Facilities made available to you); and (b) you shall ensure that all Instructions given and all Investments and Transactions undertaken by you, in your capacity as trustee of the trust, are in accordance with the terms of the Trust Deed and all Applicable Laws. 8.2 You acknowledge and agree that we will not, nor shall we be under any duty or obligation to, verify and/or monitor any of the matter referred to in Clause 8.1 and/or review or retain a copy of the Trust Deed. 8.3 Where you are an individual trustee, upon receipt of notice of your death or incapacity (whether mental or otherwise), we may, subject to the production and/or execution of such documents (including any grant of probate or letter of administration) and/or indemnities as we may require, do any of the following: (a) if your Account is in the name of more than one trustee, we may hold the Assets in your Account to the order of the surviving or other trustee(s); or (b) if there is no surviving or other trustee: (i) if the beneficiary is a corporation or if none of the beneficiaries (being individuals) is a Minor, we may close your Account and transfer the Assets therein to the beneficiary or each of the beneficiaries in equal shares; or (ii) if any of the beneficiaries is a Minor, we may close your Account and transfer the Assets therein to your legal or personal representatives to be held in trust for the beneficiaries. DBS Bank Ltd., Singapore 15 Co. Reg. No. 196800306E Notwithstanding the foregoing, we may, in our absolute discretion suspend and/or freeze the operation of your Account until we are able to determine, to our satisfaction, the person(s) entitled to ownership, management or control of the Assets therein.. DBS Bank Ltd., Singapore 15 Co. Reg. No. 196800306E

Trustee Accounts. 8.1 Without prejudice to any provision in this Agreement and/or any Applicable Agreement, where you are acting as trustee of a trust, you undertake, represent and warrant to us that: (a) you have full capacity, power and authority, in your capacity as trustee of the trust, in accordance with the terms of the document constituting the trust (the “Trust Deed”) and all Applicable Laws, to enter into and to perform and deliver this Agreement and any Applicable Agreement (including any Applicable Agreement relating to Credit Facilities made available to you); and (b) you shall ensure that all Instructions given and all Investments and Transactions undertaken by you, in your capacity as trustee of the trust, are in accordance with the terms of the Trust Deed and all Applicable Laws. 8.2 You acknowledge and agree that we will not, nor shall we be under any duty or obligation to, verify and/or monitor any of the matter referred to in Clause 8.1 and/or review or retain a copy of the Trust Deed. 8.3 Where you are an individual trustee, upon receipt of notice of your death or incapacity (whether mental or otherwise), we may, subject to the production and/or execution of such documents (including any grant of probate or letter of administration) and/or indemnities as we may require, do any of the following: (a) if your Account is in the name of more than one trustee, we may hold the Assets in your Account to the order of the surviving or other trustee(s); or (b) if there is no surviving or other trustee: (i) if the beneficiary beneficiary is a corporation or if none of the beneficiaries beneficiaries (being individuals) is a Minor, we may close your Account and transfer the Assets therein to the beneficiary beneficiary or each of the beneficiaries beneficiaries in equal shares; or (ii) if any of the beneficiaries beneficiaries is a Minor, we may close your Account and transfer the Assets therein to your legal or personal representatives to be held in trust for the beneficiariesbeneficiaries. DBS Bank Ltd., Singapore 15 Co. Reg. No. 196800306E Notwithstanding the foregoing, we may, in our absolute discretion suspend and/or freeze the operation of your Account until we are able to determine, to our satisfaction, the person(s) entitled to ownership, management or control of the Assets therein.