Waiver of Liens. No lien, encumbrance or priority in favor of the Trustee against the assets of the Trust will affect such assets or their proceeds after such assets or proceeds have been distributed or paid to Unit Holders or to the Distribution Agent on their behalf pursuant to the terms of the Indenture and upon any such distribution any lien, encumbrance or priority previously attaching to such assets or their proceeds shall without any further action on the part of the Trustee be automatically thereupon released and relinquished by the Trustee.
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Samples: Trust Indenture and Agreement (National Equity Tr Short Term Low 5 Cover Write Opt Tr Ser 1), Trust Indenture and Agreement (National Equity Trust Low Five Portfolio Series 31), Trust Indenture and Agreement (National Equity Trust Otc Growth Trust Series 5)
Waiver of Liens. No lien, encumbrance or priority in favor of the Trustee against the assets of the Trust will affect such assets or their proceeds after such assets or proceeds have been distributed or paid to Unit Holders or to the Distribution Agent on their behalf pursuant to the terms of the Indenture and Indenture; and, upon any such distribution distribution, any lien, encumbrance or priority previously attaching to such assets or their proceeds shall without any further action on the part of the Trustee be automatically thereupon released and relinquished by the Trustee.
Appears in 1 contract
Samples: Trust Indenture (National Equity Trust Forbes Semiconductor Index Trust)
