Merchandise trust definition

Merchandise trust means trusts required by section 16, composed of deposits made in connection with merchandise and service sales made prior to January 1, 2005.
Sample 1Sample 2Sample 3
Merchandise trust means a trust fund, pre-need trust, pre-construction trust or other reserve, trust, escrow or any similar arrangement established and administered by a Borrower as required in accordance with applicable Law to receive and administer the aggregate of all amounts derived from the sale of services and personal property, such as foundations, markers, memorials, memorial bases, monuments, urns, vases, vaults and caskets, used in connection with the final disposition, memorialization, interment, entombment, or inurnment of human remains.
Sample 1Sample 2Sample 3
Merchandise trust means a trust fund, pre-need trust, pre-construction trust or other reserve, trust, escrow or any similar arrangement established and administered by the Issuer or any Guarantor as required in accordance with applicable law to receive and administer the aggregate of all amounts required by applicable law derived from the sale of services and personal property, such as foundations, markers, memorials, memorial bases, monuments, urns, vases, vaults and caskets, used in connection with the final disposition, memorialization, interment, entombment, or inurnment of human remains.
Sample 1

Examples of Merchandise trust in a sentence

  • Merchandise trust funds represent amounts deposited in accordance with state trusting laws with various financial institutions together with accrued earnings.


More Definitions of Merchandise trust

Merchandise trust means a trust fund, pre-need trust, pre-construction trust or other reserve, trust, escrow or any similar arrangement established and administered by a Note Party as required in accordance with applicable law to receive and administer the aggregate of all amounts required by applicable law derived from the sale of services and personal property, such as foundations, markers, memorials, memorial bases, monuments, urns, vases, vaults and caskets, used in connection with the final disposition, memorialization, interment, entombment, or inurnment of human remains.
Sample 1

Related to Merchandise trust

  • Income trust means a trust that is not a unitrust.

  • the Macfarlane Trust means the charitable trust, established partly out of funds provided by the Secretary of State to the Haemophilia Society, for the relief of poverty or distress among those suffering from haemophilia;

  • Motorboat means the same as that term is defined in Section 73-18-2.

  • Off-road motorcycle means every motorcycle designed exclusively for off-road use by an individual

  • the Eileen Trust means the charitable trust of that name established on 29th March 1993 out of funds provided by the Secretary of State for the benefit of persons eligible for payment in accordance with its provisions;

  • Recreational vehicle means a vehicle which is:

  • Sailboat means the same as that term is defined in Section 73-18-2.

  • Commercial motor vehicle means a motor vehicle or combination of motor vehicles used in commerce to transport passengers or property if the motor vehicle:

  • Retail Store – means any business facility that sells goods directly to the consumer whether for or not-for-profit, including, but not limited to, retail stores, restaurants, pharmacies, convenience and grocery stores, liquor stores, as well as seasonal and temporary businesses.