Eligible Trustee definition

Eligible Trustee means an individual who is a Trustee of one or more of the Funds which have adopted the Plan but who is not an employee of the Funds’ investment adviser, distributor or administrator, or any of their affiliates.

Eligible Trustee means a person who: (i) is or becomes a trustee or director, as the case may be, of the Fund on or after the Effective Date, and (ii) is, prior to the time of such trustee's or director's, as the case may be, termination of service, receiving trustee's or director's fees from the Fund.

Eligible Trustee means a bank (within the meaning of Section 2(a)(5) of the Investment Company Act) that meets the requirements of Section 26(a)(1) of the Investment Company Act, that is not an Affiliate of the Depositor or an Affiliate of any Person involved in the organization or operation of the Depositor, that is organized and doing business under the laws of the United States of America, any state thereof or the District of Columbia, that is authorized under such laws to exercise corporate trust powers and to accept the trust conferred under this Agreement, that has a combined capital and surplus and undivided profits of at least $100,000,000 and that is subject to supervision or examination by federal or state authority. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this definition the combined capital, surplus and undivided profits of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.

Examples of Eligible Trustee in a sentence

• The term "Participating Funds" shall mean those registered investment management companies for which the Advisor serves or will serve in the future as investment manager, whether existing at the time of adoption of the Plan or established at a later date, designated by each respective Board as a fund from which compensation may be deferred by an Eligible Trustee.

• The term "Eligible Trustee" shall mean a member of the Board who is not an "interested person" of a Participating Fund or of BlackRock, as such term is defined under Section 2(a)(1) of the Investment Company Act of 1940, as amended (the "1940 Act").

• An Eligible Trustee is not entitled to benefits pursuant to the Plan merely because such trustee is an Eligible Trustee; a trustee must meet the Years of Service requirement.

• The Plan Committee shall have sole and uncontrolled discretion with respect to the application of the provisions of this paragraph and such exercise of discretion shall be conclusive and binding on the Eligible Trustee, any Beneficiary or other person.

• The term “Participating Funds” shall mean those registered investment management companies for which the Advisor serves or will serve in the future as investment manager, whether existing at the time of adoption of the Plan or established at a later date, designated by each respective Board as a fund from which compensation may be deferred by an Eligible Trustee.

More Definitions of Eligible Trustee

Eligible Trustee means a person who: (i) is or becomes a trustee of the Fund on or after the Effective Date, and (ii) is, prior to the time of such trustee's termination of service, receiving trustee's fees from the Fund.

Eligible Trustee means a member of the Board of Trustees who is not an "interested person" of the Funds, as such term is defined under Section 2(a)(19) of the Investment Company Act of 1940, as amended.

Eligible Trustee means a member of the Board of Trustees who is not an "affiliated person" of the investment adviser, administrator or principal underwriter of any of the Funds, as such term is defined under Section 2(a)(3) of the Investment Company Act of 1940, as amended.

Eligible Trustee means, on any Entry Date, a member of the Board of Trustees of EQR who is not an employee of EQR.

Eligible Trustee. A bank (within the meaning of Section 2(a)(5) of the Investment Company Act) that meets the requirements of Section 26(a)(1) of the Investment Company Act, that is not an Affiliate of the Depositor, the Issuer or the Mortgage Loan Seller or an Affiliate of any Person involved in the organization or operation of the Depositor, the Issuer or the Mortgage Loan Seller, that is organized and doing business under the Laws of any state or the United States of America, that is authorized under such Laws to exercise corporate trust powers and to accept the trust conferred under the Deposit Trust Agreement or the Holding Trust Agreement, as the case may be, that has a combined capital and surplus and undivided profits of at least $100,000,000 and that is subject to supervision or examination by federal or state authority and that has a long-term unsecured debt rating from each Rating Agency of "A" or better. If such bank publishes reports of condition at least annually, pursuant to Law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this definition the combined capital, surplus and undivided profits of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.

Eligible Trustee means a corporation organized and doing business under the laws of the United States, any state of the United States or Hong Kong, that is authorized under such laws to exercise corporate trustee power, and that is subject to supervision or examination by federal or state authorities.

Eligible Trustee means an organization or entity organized and doing business under the laws of the United States of America or of any state thereof, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least U.S.$200,000,000, subject to supervision or examination by federal or state authority, having an office within the United States, and that is not directly or indirectly controlling, controlled by or under common control with the Issuer or any other person involved in the organization or operation of the Issuer. If such organization or entity publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this definition, the combined capital and surplus of such organization or entity shall be deemed to be its combined capital and surplus as set forth in its most recent published report of condition.