Grantor Trust Certificateholder definition
Examples of Grantor Trust Certificateholder in a sentence
The Administrator shall sign on behalf of the Trust any and all applicable tax returns of the Trust, unless applicable law requires the Grantor Trust Certificateholder to sign such documents, in which case the Grantor Trust Certificateholder hereby agrees to sign such document and to cooperate fully with the reasonable requests of the Administrator with respect thereto.
The Grantor Trust Certificateholder shall not direct the Grantor Trust Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Grantor Trust Trustee under this Agreement, including Section 2.3, or any of the other Transaction Documents, nor shall the Grantor Trust Trustee be obligated to follow any such direction, if given.
Each Grantor Trust Certificateholder is hereby deemed to agree and irrevocably appoint the Administrator as such Grantor Trust Certificateholder’s designee and agent to act with full authority and discretionary powers as such Grantor Trust Certificateholder agent with respect to any Direction Right and to any voting, instruction, or decision in connection with the Trust.
The Grantor Trust Certificateholder shall not and shall not direct the Grantor Trust Trustee to take action that would violate the provisions of Section 6.1 and, if given, the Grantor Trust Trustee shall not be obligated to follow any such direction.
The office of the Trust shall be in care of the Grantor Trust Trustee at the Corporate Trust Office or at such other address in Delaware as the Grantor Trust Trustee may designate by written notice to the Grantor Trust Certificateholder, the Grantor and the Administrator.
The bankruptcy, liquidation, dissolution, death or incapacity of the Grantor Trust Certificateholder shall not (i) operate to terminate this Agreement or the Trust, (ii) entitle the Grantor Trust Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Trust or the Grantor Trust Collateral or (iii) otherwise affect the rights, obligations and liabilities of the parties hereto.
Any request, notice, direction, consent, waiver or other instrument or action by the Grantor Trust Certificateholder shall bind the successors and assigns of the Grantor Trust Certificateholder.
All covenants and agreements contained herein shall be binding upon, and inure to the benefit of, the Grantor, the Administrator, the Grantor Trust Trustee and the Grantor Trust Certificateholder and their respective successors and permitted assigns, all as herein provided.
The Grantor Trust Certificate Registrar shall give notice to the Grantor Trust Trustee and the Grantor Trust Paying Agent at the time such notice is given to Grantor Trust Certificateholder.
A copy of each of the other Transaction Documents may be examined during normal business hours at the principal office of the Grantor, and at such other places, if any, designated by the Grantor, by any Grantor Trust Certificateholder upon written request.