Perpetual Care Trust definition

Perpetual Care Trust means a trust established to provide perpetual care or maintenance for any cemetery, mausoleum or columbarium.

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Perpetual Care 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 for the purpose of receiving the aggregate of all amounts derived from the sale of interests in real property, or fixtures, including, without limitation, mausoleums, niches, columbaria, urns, or crypts, used in connection with the final disposition, memorialization, interment, entombment, or inurnment of human remains and set aside in reserve, trust, escrow or any similar arrangement and administering such amounts for the perpetual care and maintenance of cemetery lots, ▇▇▇▇▇▇, grounds, landscaping, roads, paths, parking lots, fences, mausoleums, columbaria, vaults, crypts, utilities, and other improvements, structures and embellishments.

Perpetual Care Trust means a trust fund or other reserve, trust, escrow or any similar arrangement established and administered by a Borrower as required in accordance with applicable law for the purpose of receiving the aggregate of all amounts required by applicable law derived from the sale of interests in real property, or fixtures, including, without limitation, mausoleums, niches, columbaria, urns, or crypts, used in connection with the final disposition, memorialization, interment, entombment, or inurnment of human remains and set aside in reserve, trust, escrow or any similar arrangement and administering such amounts for the perpetual care and maintenance of cemetery lots, ▇▇▇▇▇▇, grounds, landscaping, roads, paths, parking lots, fences, mausoleums, columbaria, vaults, crypts, utilities, and other improvements, structures and embellishments.

Examples of Perpetual Care Trust in a sentence

Notwithstanding anything to the contrary contained in this Article VIII, the Collateral Agent’s rights under this Article VIII shall be subject to compliance with applicable Cemetery Laws, including requirements pertaining to the placement of proceeds of any Grantor’s Receivables into Trust Accounts or the use of Perpetual Care Trust distributions.
The Perpetual Care Trust Fund shall be a perpetual trust and shall be an irrevocable trust for the benefit of the beneficiaries hereinafter set forth.
The Seller will, at its own expense, provide care and maintenance of said lot and of all lots in the improved sections of the cemetery, including all improvements thereon until such time as the income from the Perpetual Care Trust Fund is adequate therefore.
As used in this Agreement, "Perpetual Care Trust" means any trust required to be established by Kentucky law or by any customer contract for the care, maintenance, administration and embellishment of the Cemeteries or any part thereof.
CERTIFICATE FOR INTERMENT RIGHTS: A “Certificate for Interment Right(s)”, will be issued upon completion of all payments and will contain a Covenant of Perpetual Care reflecting the purchase price to be deposited into the Perpetual Care Trust Fund.
Installation and all Perpetual Care Trust Fee Cost must be paid before installation will be allowed.
Schedule 2.6 will contain a listing of each Perpetual Care and Maintenance Trust ("Perpetual Care Trust") established for the care of the Cemeteries or any part thereof containing for each Perpetual Care Trust:(i) true and correct copies of all trust agreements; (ii) the fair market value of the assets held; and (iii) the most recent annual filings made by Seller with the Commonwealth of Kentucky.

More Definitions of Perpetual Care Trust

Perpetual Care 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 for the purpose of receiving the aggregate of all amounts derived from the sale of interests in real property or fixtures used in connection with the final disposition, memorialization, interment, entombment, or inurement of human remains and set aside in reserve, trust, escrow or any similar arrangement and administering such amounts for the perpetual care and maintenance of cemetery lots, ▇▇▇▇▇▇, grounds, landscaping, roads, paths, parking lots, fences, mausoleums, columbaria, vaults, crypts, utilities, and other improvements, structures and embellishments.

Perpetual Care Trust means a trust fund or other reserve, trust, escrow or any similar arrangement established and administered by a Note Party as required in accordance with applicable law for the purpose of receiving the aggregate of all amounts required by applicable law derived from the sale of interests in real property, or fixtures, including, without limitation, mausoleums, niches, columbaria, urns, or crypts, used in connection with the final disposition, memorialization, interment, entombment, or inurnment of human remains and set aside in reserve, trust, escrow or any similar arrangement and administering such amounts for the perpetual care and maintenance of cemetery lots, graves, grounds, landscaping, roads, paths, parking lots, fences, mausoleums, columbaria, vaults, crypts, utilities, and other improvements, structures and embellishments.

Perpetual Care Trust means a trust fund, pre-need trust, pre-construction trust or other reserve, trust, escrow or any similar arrangement established and administered by an Issuer or a Subsidiary Guarantor as required in accordance with applicable law for the purpose of receiving the aggregate of all amounts derived from the sale of interests in real property or fixtures used in connection with the final disposition, memorialization, interment, entombment, or inurement of human remains and set aside in reserve, trust, escrow or any similar arrangement and administering such amounts for the perpetual care and maintenance of cemetery lots, ▇▇▇▇▇▇, grounds, landscaping, roads, paths, parking lots, fences, mausoleums, columbaria, vaults, crypts, utilities, and other improvements, structures and embellishments.

Perpetual Care Trust means any trust required to be established by Kentucky law or by any customer contract for the care, maintenance, administration and embellishment of the Cemeteries or any part thereof.

Perpetual Care Trust a trust fund or other reserve, trust, escrow or any similar arrangement established and administered by Borrower or any Guarantor as required in accordance with Applicable Law for the purpose of receiving the aggregate of all amounts required by Applicable Law derived from the sale of interests in real property, or fixtures, including, without limitation, mausoleums, niches, columbaria, urns, or crypts, used in connection with the final disposition, memorialization, interment, entombment, or inurnment of human remains and set aside in reserve, trust, escrow or any similar arrangement and administering such amounts for the perpetual care and maintenance of cemetery lots, g▇▇▇▇▇, grounds, landscaping, roads, paths, parking lots, fences, mausoleums, columbaria, vaults, crypts, utilities, and other improvements, structures and embellishments.