Grantor Trust Paying Agent definition
Grantor Trust Paying Agent means, with respect to the Grantor Trust Agreement, any paying agent or co-paying agent appointed pursuant to Section 3.9 of the Grantor Trust Agreement.
Grantor Trust Paying Agent has the meaning specified in Section 5.3 of the Grantor Trust Agreement.
Grantor Trust Paying Agent. With respect to the Grantor Trust Agreement, any paying agent or co-paying agent appointed pursuant to Section 3.9 of the Grantor Trust Agreement Grantor Trust Trustee: Wilmington Trust, National Association, acting not in its individual capacity, but solely as trustee for the Grantor Trust.
Examples of Grantor Trust Paying Agent in a sentence
If there is a possibility that withholding tax is payable with respect to a payment, distribution or allocation of income, the Grantor Trust Paying Agent may in its sole discretion withhold such amounts in accordance with this Section 5.3.
Any Grantor Trust Paying Agent is hereby authorized and directed to retain from amounts otherwise distributable to the Grantor Trust Certificateholders sufficient funds for the payment of any tax that is legally owed by the Grantor Trust (but such authorization shall not prevent the Grantor Trust Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings).