Parent Trust definition

Parent Trust means that certain trust account of Parent with Continental Stock Transfer & Trust Company, acting as trustee, established under the Parent Trust Agreement.

Parent Trust has the meaning ascribed to it in Section 5.2(d)(i).

Parent Trust means the trust to be formed under the laws of the Province of Ontario to participate in the Arrangement as contemplated in the Property Exchange Arrangements and Schedule K.

Examples of Parent Trust in a sentence

• The Parent Trust Agreement is valid and in full force and effect and enforceable in accordance with its terms and has not been amended or modified.

• There are no separate Contracts, side letters or other arrangements or understandings (whether written or unwritten, express or implied) that would cause the description of the Parent Trust Agreement in the Parent Reports to be inaccurate or that would entitle any Person (other than any Parent Stockholder who is a Redeeming Stockholder) to any portion of the proceeds in the Parent Trust Account.

• Parent has performed all material obligations required to be performed by it to date under, and is not in default, breach or delinquent in performance or any other respect (claimed or actual) in connection with, the Parent Trust Agreement, and no event has occurred which, with due notice or lapse of time or both, would constitute such a default or breach thereunder.

• The Company acknowledges that Parent has established the Parent Trust Account for the benefit of Parent’s public stockholders and that disbursements from the Parent Trust Account are available only in the limited circumstances set forth in the Parent Reports, Parent’s Organizational Documents, and the Parent Trust Agreement.

• Prior to the Closing, none of the funds held in the Parent Trust Account may be released other than to pay Taxes and payments with respect to the redemption of any shares of Parent Common Stock required by the Redemption Offer.

• The Company further acknowledges that Parent’s sole assets consist of the cash proceeds of Parent’s initial public offering and private placements of its securities, and that substantially all of these proceeds have been deposited in the Parent Trust Account for the benefit of its public stockholders.

• Each of Parent, Trust and the Company shall use all reasonable efforts to have the Registration Statement declared effective under the Securities Act as promptly as practicable after such filing.

• If the sum of the Initial Asset Transfer plus the Benefit Payments exceeds the Pension Plan Asset Transfer Amount, then the SpinCo Trust shall return such excess, which shall accrue interest determined in the manner described above from the date of the Initial Asset Transfer or the date of the Benefit Payment, as applicable, to the date of return, to the Parent Trust relating to the Parent Qualified Pension Plan.

• There are no Proceedings pending, or to the Knowledge of Parent, threatened in writing with respect to the Parent Trust Account.

• To the Knowledge of Parent, as of the date hereof, following the Effective Time, no Parent Stockholder shall be entitled to receive any amount from the Parent Trust Account, except to the extent such Parent Stockholder validly elects to redeem their shares of Parent Common Stock in connection with the Redemption Offer.

More Definitions of Parent Trust

Parent Trust means, in relation to a subsidiary trust, an income trust through which a beneficial interest is held in

Parent Trust means that certain trust account of Parent with Wilmington Trust, National Association, acting as trustee, established under the Parent Trust Agreement.

Parent Trust has the meaning set forth in the introductory paragraph.

Parent Trust means the Linx Capital Trust, a trust declared and established for charitable purposes under the laws of Jersey, Channel Islands, on 13 April 2023 pursuant to the Parent Trust Declaration.