Exchange Trustee definition
Examples of Exchange Trustee in a sentence
In entering into the Trust Agreement and performing its obligations thereunder, each of the Exchange Trustee and the Securities Administrator shall be entitled to the same rights, protections and indemnities afforded to them under this Agreement in their capacity as Trustee and Securities Administrator, respectively.
The Underlying REMIC Certificates shall be issued in uncertificated form to the Underwriter and transferred by the Underwriter to the Exchange Trustee to be held in trust pursuant to terms of the Exchange Trust Agreement.
U.S. Bank National Association, as Exchange Trustee, and ▇▇▇▇▇ Fargo Bank, N.A., as Trust Administrator, are hereby directed and authorized to enter into the Trust Agreement.
Thereupon, the resignation or removal of the predecessor Exchange Trustee shall become effective and such successor Exchange Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Exchange Trustee in this Agreement.
The Exchange Trustee shall process only such tax matters as have been specifically delegated to it pursuant to this Agreement or as may be agreed subsequently, and in doing so, the Exchange Trustee does not undertake to carry out any inquiry, evaluation, reporting, remittance, filing or issuance of tax slips, summaries and reports necessary or incidental thereto, which shall remain the sole responsibility of the Trust.