Business Trust Statute definition

Business Trust Statute means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code ss. 3801 et seq., as the same may be amended from time to time.

Business Trust Statute means Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. Section 3801, et seq., as the same may be amended from time to time.

Business Trust Statute means the Delaware Statutory Trust Act, 12 Del. C. Section 3801 et seq.

Examples of Business Trust Statute in a sentence

• It is the intention of the parties hereto that the Trust constitute a business trust under the Business Trust Statute and that this Agreement constitute the governing instrument of such business trust.

• Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and in the Business Trust Statute with respect to accomplishing the purposes of the Trust.

• Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and to the extent not inconsistent herewith, in the Business Trust Statute with respect to accomplishing the purposes of the Trust.

• It is the intention of the parties hereto that the Trust constitute a business trust under the Business Trust Statute and that this Trust Agreement constitute the governing instrument of such business trust.

• The Owner Trustee shall at all times be a corporation satisfying the provisions of Section 3807(a) of the Business Trust Statute; authorized to exercise corporate trust powers; having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authorities; and having (or having a parent that has) a rating of at least Baa3 by Moody's and A-1 by Standard & Poor's.

More Definitions of Business Trust Statute

Business Trust Statute means Chapter 38 of Title 12 of the Delaware Code, 12 Delaware Code ss. 3801 et seq., as amended.

Business Trust Statute shall have the meaning set forth in Section 2.5.

Business Trust Statute has the meaning specified in the Trust Agreement.

Business Trust Statute means Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. ss. 3801 et seq., as the same may be amended from time to time.

Business Trust Statute means Chapter 38 of Title 12 of the [ ] Code, 12 Del. Code (S) 3801 et seq., as the same may be amended from time to time. "Certificate Balance" equals, initially, $___________ and, thereafter, equals such initial Certificate Balance reduced by all amounts allocable to principal previously distributed to Certificateholders.

Business Trust Statute means [applicable law] as the same may be amended from time to time.

Business Trust Statute. Any resignation or removal of the Trustee and appointment of a successor Trustee shall not become effective until a written acceptance of appointment is delivered by the successor Trustee to the outgoing Trustee and the Managing Owner and any fees and expenses due to the outgoing Trustee are paid. Following compliance with the preceding sentence, the successor Trustee shall become fully vested with all of the rights, powers, duties and obligations of the outgoing Trustee under this Trust Agreement, with like effect as if originally named as Trustee, and the outgoing Trustee shall be discharged of its duties and obligations under this Trust Agreement.