Fiduciary power definition

Fiduciary power means a management power relating to the administration or management of assets similar to those powers granted to a personal representative in section 3715 and a trustee in sections 7816 and 7817, and granted by law to a fiduciary or conferred upon a fiduciary in a governing instrument.
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Fiduciary power means any power that, when exercised, must be exercised for the benefit of or taking into account the interests of at least one person other than the person holding the power;
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Fiduciary power means a management power relating to the administration or management of assets similar to those powers granted to an independent personal representative in section 334 and a trustee in sections 822 to 829 of the revised probate code, Act No. 642 of the Public Acts of 1978, being sections 700.334 and 700.822 to 700.829 of the Michigan Compiled Laws, and granted by law to a fiduciary or conferred upon a fiduciary in a governing instrument.
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Examples of Fiduciary power in a sentence

  • Xxxxxxx Title: Vice President Corporate Trust THE CHASE MANHATTAN BANK (formerly Chemical Bank), not in its individual capacity, but solely as Administrative Agent under the FI Credit Agreement and the CDF, as Security Agent under the Bank Security Documents and as JAA Security Agent under the JAA Fiduciary Transfer and the JAA Fiduciary Power, by /s/ Xxxxx X.

  • The disclaimer may expressly provide that the Fiduciary Power shall be exercisable by the remaining Trustees, if any, or any successor Trustees.

  • Any person granted any fiduciary power, authority, right, privilege, or discretion (“Fiduciary Power”) under this Trust Agreement or under the law applicable to this trust may at any time renounce, release, or disclaim all or any part of such Fiduciary Power.

  • Unless otherwise expressly provided in the disclaimer, if any Fiduciary Power shall be disclaimed, the power shall cease to exist and shall not pass to any successor fiduciary.


More Definitions of Fiduciary power

Fiduciary power means the Interim Fiduciary Power or the Final Fiduciary Power, as then applicable.
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Fiduciary power means a management power relating to the administration or management of
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Fiduciary power means a power that, when exercised, must be exercised for the benefit of or taking into account the interests of at least one person other than the person who holds the power and in the case of a purpose or charitable trust, to advance the purposes of such trust;
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Related to Fiduciary power

  • Fiduciary has the meaning set forth in ERISA Sec. 3(21).

  • Bail-in Power means any statutory cancellation, write-down and/or conversion power existing from time to time under any laws, regulations, rules or requirements relating to the resolution of banks, banking group companies, credit institutions and/or investment firms, including but not limited to any such laws, regulations, rules or requirements that are implemented, adopted or enacted within the context of a European Union directive or regulation of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms, or any other applicable laws or regulations, as amended, or otherwise, pursuant to which obligations of a bank, banking group company, credit institution or investment firm or any of its affiliates can be reduced, cancelled and/or converted into shares or other securities or obligations of the obligor or any other person.

  • Bail-in Powers means any Write-down and Conversion Powers as defined in the EU Bail-in Legislation Schedule, in relation to the relevant Bail-in Legislation.

  • Fiduciary Account means an account in which the lawyer deposits fiduciary property.

  • UK Bail-in Power means any write-down, conversion, transfer, modification and/or suspension power existing from time to time under any laws, regulations, rules or requirements relating to the resolution of banks, banking group companies, credit institutions and/or investment firms incorporated in the United Kingdom in effect and applicable in the United Kingdom to the Company or other members of the Group, including but not limited to any such laws, regulations, rules or requirements that are implemented, adopted or enacted within the context of any applicable European Union directive or regulation of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms, and/or within the context of a U.K. resolution regime under the U.K. Banking Act 2009, as the same has been or may be amended from time to time (whether pursuant to the U.K. Financial Services (Banking Reform) Act 2013, secondary legislation or otherwise), pursuant to which obligations of a bank, banking group company, credit institution or investment firm or any of its affiliates can be reduced, cancelled, amended, transferred and/or converted into shares or other securities or obligations of the obligor or any other person.

  • net power means the power obtained on a test bench at the end of the crankshaft or its equivalent at the corresponding engine or motor speed with the auxiliaries, tested in accordance with Annex XX (Measurements of net power and the maximum 30 minutes power of electric drive train), and determined under reference atmospheric conditions;

  • Station Power means energy used for operating the electric equipment on the site of a generation facility located in the PJM Region or for the heating, lighting, air-conditioning and office equipment needs of buildings on the site of such a generation facility that are used in the operation, maintenance, or repair of the facility. Station Power does not include any energy (i) used to power synchronous condensers; (ii) used for pumping at a pumped storage facility; (iii) used in association with restoration or black start service; or (iv) that is Direct Charging Energy.

  • Powers means all of the general and specific powers of the authority as provided in this chapter which shall be broadly and liberally interpreted to authorize the authority to act in accordance with the goals of the authority and in a manner consistent with the legislative findings and guiding principles.

  • Family relationship means a relationship between a person and another person within the third degree by consanguinity or the second degree by affinity, as those terms are defined by Subchapter B, Chapter 573, Texas Government Code.

  • Co-Venturer means any other entity with whom the Company or an Affiliate of Company is or may be from time to time a Party to a joint operating agreement or unitisation agreement or similar agreement relating to the operations for which the Work is being performed or otherwise for whose benefit the Work are being performed and the successors in interest of such Co-Venturer or the assignees of any interest of such Co-Venturer.

  • Solar Power means power generated from the Solar Photovoltaic Power Project;

  • Secretary-Treasurer means Secretary-Treasurer of the Authority with the roles specified in the Act.

  • Trustee Agreement means the trustee agreement entered into on or before the Issue Date, between the Issuer and the Trustee, or any replacement trustee agreement entered into after the Issue Date between the Issuer and a trustee, regarding, inter alia, the remuneration payable to the Trustee or a replacement trustee.

  • Successor personal representative means a personal representative, other than a special administrator, who is appointed to succeed a previously appointed personal representative.

  • Conservator means a person who is appointed by a court to manage the estate of a protected person.

  • Parent-subsidiary relationship means a relationship that exists when one corporation directly or indirectly owns shares possessing more than 50 percent of the voting power of another corporation.

  • B-BBEE Act means the Broad-Based Black Economic Empowerment Act, 2003;