Trustee Provisions Sample Clauses
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Trustee Provisions. Notwithstanding any other terms of this Agreement:
(a) Clause 32.16 of the Master Trust Deed (as amended by the Series Notice) applies to the obligations and liabilities of the Issuer under this Agreement.
(b) The Issuer enters into the Transaction Documents and issues the Notes only in its capacity as trustee of the Trust and in no other capacity. A liability incurred by the Issuer acting in its capacity as trustee of the Trust arising under or in connection with the Transaction Documents or the Trust or in respect of the Notes is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the Assets of the Trust out of which the Issuer is actually indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of the Transaction Documents and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to the Transaction Documents or the Trust.
(c) The parties other than the Issuer may not sue the Issuer in any capacity other than as trustee of the Trust or seek the appointment of a receiver (except in relation to the Assets of the Trust), liquidator, administrator or similar person to the Issuer or prove in any liquidation, administration or arrangements of or affecting the Issuer (except in relation to the Assets of the Trust).
(d) The provisions of clause 32.16 of the Master Trust Deed do not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's indemnification out of the Assets of the Trust as a result of the Issuer's fraud, negligence, or willful default.
(e) It is acknowledged that the Relevant Parties are responsible under the Transaction Documents for performing a variety of obligations relating to the Trust. No act or omission of the Issuer (including any related failure to satisfy its obligations or breach of representation or warranty under the Transaction Documents) will be considered fraud, negligence or willful default of the Issuer for the purpose of Section 11(d) above to the extent to which the act or omission was caused or contributed to by any failure by the Relevant Parties (other than a person whose acts or omissions the Issuer is liable for in accordance with the Transaction Documents) to fulfill i...
Trustee Provisions. Where you are identified in the Schedule as a trust (the “Trust”) then the following provisions shall apply:
Trustee Provisions. If the Lessee has entered into this Lease in the capacity of trustee, whether or not the Lessor has any notice of the trust, the Lessee:
(a) is taken to enter into this Lease both as trustee and in the Lessee's personal capacity and acknowledges that the Lessee is personally liable for the performance of the Lessee's Obligations under this Lease;
(b) will take any action necessary to ensure the assets of the trust are available to satisfy any claim by the Lessor for any default by the Lessee;
(c) will assign to the Lessor any right of indemnity the Lessee has against the assets of the trust to the extent of the liability of the Lessee under this Lease; and
(d) warrants that the Lessee has the power and authority under the terms of the trust to enter into this Lease.
Trustee Provisions. Party B enters into this Agreement in its capacity as Trustee of the Trust. Clause 33.16 of the Trust Deed applies to this Agreement as if set out in full. Clause 16 of the Security Trust Deed shall apply to govern Party A’s priority to moneys received from the sale of Assets or other enforcement of the Charge under the Security Trust Deed (each as defined in the Security Trust Deed).
Trustee Provisions. (a) Trustee shall not be liable for any error of judgment or act done by Trustee in good faith, or be otherwise responsible or accountable under any circumstances whatsoever, except for Trustee’s gross negligence or willful misconduct. Trustee shall not be personally liable in case of entry by him, or anyone entering by virtue of the powers herein granted him, upon the Trust Property for debts contracted or liability or damages incurred in the management or operation of the Trust Property. Trustee shall have the right to rely on any instrument, document or signature authorizing or supporting any action taken or proposed to be taken by him hereunder, believed by him in good faith to be genuine. Trustee shall be entitled to reimbursement for expenses incurred by him in the performance of his duties hereunder and to reasonable compensation for such of his services hereunder as shall be rendered. Grantor will, from time to time, pay the compensation due to Trustee hereunder and reimburse Trustee for, and save him harmless against, any and all liability and expenses which may be incurred by him in the performance of his duties.
(b) All moneys received by Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated in any manner from any other moneys (except to the extent required by law), and Trustee shall be under no liability for interest on any moneys received by her hereunder.
(c) Trustee may resign by the giving of notice of such resignation in writing to Agent. If Trustee shall die, resign or become disqualified from acting in the execution of this trust or shall fail or refuse to execute the same when requested by Agent so to do, or if, for any reason, Agent shall prefer to appoint a substitute trustee to act instead of the forenamed Trustee, Agent shall have full power to appoint a substitute trustee and, if preferred, several substitute trustees in succession who shall succeed to all the estate, rights, powers and duties of the forenamed Trustee.
(d) Agent may, from time to time, by a written instrument executed and acknowledged by Agent, mailed to Grantor and recorded in the County in which the Real Property is located and by otherwise complying with the provisions of the applicable law of the State of Nebraska, substitute a successor or successors to the Trustee named herein or acting hereunder.
(e) Any new Trustee appointed pursuant to any of the provisions hereof...
Trustee Provisions. 20.1 If the Buyer enters into this contract as the trustee of any trust ("the Trust"), then the Buyer:
(a) warrants to the Seller that:
(i) the Trust is created validly and is in existence;
(ii) the Buyer is the sole trustee of the Trust and is appointed validly;
(iii) the Buyer has full and free power to enter into this contract and to perform all of the obligations imposed upon it under this contract; and
(iv) this contract has been authorised, signed and delivered by the Buyer and is a valid, legal and binding instrument and that if any consent or approval is required to the entering into of this contract or the performance by the Buyer of its obligations under this contract, it has been obtained;
(b) accepts and undertakes the personal liabilities under this contract and the observance, performance and fulfilment of all obligations on behalf of the Buyer;
(c) will not, prior to the satisfaction of all liabilities of the Buyer under this contract, personally and/or by the Trust exercise in its own favour any right of indemnification, lien or charge to which it may be entitled under, or in respect of the assets of, the Trust;
(d) must hold any of the assets of the Trust (which at any time are in the hands of the Buyer free of their Trust character by virtue of the exercise or purported exercise of any such right of indemnification, lien or charge) on trust for the Seller to the extent to which any liabilities of the Buyer under this contract have not been satisfied;
(e) agrees that if, at any time prior to the satisfaction of any liability of the Buyer under this contract, the Buyer ceases for any reason to be the sole trustee of the Trust, the Buyer will procure any new or additional trustee of the Trust to sign in favour of the Seller such agreements relating to this contract as the Seller may reasonably require, including without limitation a covenant on the same terms as those contained in this clause 20; and
(f) agrees that if, at any time prior to the satisfaction of any liability of the Buyer under this contract, the Trust is terminated or for any reason ceases to exist, the Buyer will immediately give written notice to the Seller.
Trustee Provisions. 40.1 You make the following declarations if you enter into any arrangement with us or own any of the security property as trustee of any trust or settlement:
a. any arrangement with us is for the benefit of the trust;
b. any arrangement with us does not conflict with the operation of the terms of the trust;
c. you are the only trustee(s) of the trust;
d. you have the power as trustee of the trust to unconditionally enter into this facility agreement and perform your obligations under it;
e. the trust has not been terminated and no beneficiary is presently entitled to any assets of the trust;
f. you have the right to be fully indemnified out of the trust assets for obligations incurred under the
g. no action has been taken or proposed to terminate the trust;
h. true copies of the trust deed and other documents relating to the trust have been provided to us and disclose all the terms of the trust;
i. trustee or exercised any power of appointment;
j. no property of the trust has been resettled or set aside or transferred to any other trust;
▇. the trust documents comply with all applicable laws;
l. by entering into any arrangement with us and performing your obligations under it you are properly performing your obligations to the beneficiaries of the trust;
m. you have taken all steps necessary to allow you to enter into and perform your obligations under any arrangement with us;
n. no action has been taken to remove you as trustee or to appoint an additional trustee; and
o. you have not breached your obligations as trustee. Bank of Queensland Limited ABN 32 ▇▇▇ ▇▇▇ ▇▇▇ AFSL and Australian Credit Licence No. 244616 25
Trustee Provisions. Trustee accepts this Trust when this Deed of Trust, duly executed and acknowledged is made a public record as provided by law. The Trust created hereby is irrevocable by Trustor. Trustee, upon presentation to it of an affidavit signed by or on behalf of Beneficiary, setting forth any facts showing a default by Trustor under any of the terms or conditions of this Deed of Trust, is authorized to accept as true and conclusive all facts and statements in such affidavit and to act hereunder in complete reliance thereon. Trustee shall be under no obligation to notify any party hereof of any action or proceeding of any kind in which Trustor, Beneficiary and/or Trustee shall be a party, unless brought by Trustee, or of any pending sale under any other deed of trust. The necessity of Trustee’s making oath, filing inventory or giving bond as security for the execution of this Deed of Trust, as may now be or hereafter required by the laws of the state in which the Property is located, is hereby expressly waived.
Trustee Provisions. (a) Each party acknowledges and agrees that Party B enters into this Agreement in its capacity as trustee of the Trust and in no other capacity. Clause 16 of the Security Trust Deed applies to govern Party A's priority to monies received from the sale of trust Assets or other enforcement of the Charge under the Security Trust Deed (each as defined in the Security Trust Deed). Clauses 1.2(p) and 30.13 of the Trust Deed apply to this Agreement as if set out in full, with references to Deed being construed as references to Agreement.
(b) Nothing in paragraph (a) limits Party A in:
(i) obtaining an injunction or other order to restrain any breach of this Agreement by Party B;
(ii) obtaining declaratory relief; or
(iii) in relation to its rights under the Security Trust Deed.
(c) Except as provided in paragraphs (a) and (b), Party A shall not
(i) (judgment) obtain a judgment for the payment of money or damages by Party B
(ii) (statutory demand) issue any demand under s459E(1) of the Corporations Law (or any analogous provision under any other law) against Party B;
(iii) (winding up) apply for the winding up or dissolution of Party B;
(iv) (execution) levy or enforce any distress or other execution to, on, or against any assets of Party B;
(v) (court appointed receiver) apply for the appointment by a court of a receiver to any of the assets of Party B;
(vi) (set-off or counterclaim) exercise or seek to exercise any set-off or counterclaim against Party B; or
(vii) (administrator) appoint, or agree to the appointment, of any administrator to Party B, or take proceedings for any of the above and Party A waives its rights to make those applications and take those proceedings.
Trustee Provisions. Insert the following new Section 15 after Section 14: