Examples of QSF Regulations in a sentence
The Trustee shall be the “administrator” (as defined in the QSF Regulations) of the Litigation Trust and shall meet, without limitation, all requirements necessary to qualify and maintain qualification of the Litigation Trust as a qualified settlement fund within the meaning of the QSF Regulations, and take no action that could cause the Litigation Trust to fail to qualify as a qualified settlement fund within the meaning of the QSF Regulations.
The Cimarron Trust created by this Agreement is intended to be treated as a qualified settlement fund eligible to elect grantor trust classification pursuant to the QSF Regulations for federal income tax purposes, and to the extent provided by law, this Agreement shall be governed and construed in all respects consistent with such intent.
The Litigation Trust is established for the sole purpose of prosecuting the Anadarko Litigation and liquidating and distributing the Trust Property, in accordance with the QSF Regulations, with no objective to continue or engage in the conduct of a trade or business.
The Cimarron Trust satisfies all the requirements of, and is intended by the Parties to be classified as, a qualified settlement fund pursuant to the QSF Regulations.
The Cimarron Trust and the Cimarron Trustee shall not take any actions that would cause the Cimarron Trust to fail to qualify as a qualified settlement fund under the QSF Regulations.
Subject to definitive guidance from the Internal Revenue Service or a judicial decision to the contrary, the Cimarron Trustee shall file tax returns and pay applicable taxes with respect to the Cimarron Trust in a manner consistent with the provisions of the QSF Regulations.
The right and power of the Trustee to invest Trust Property, the proceeds thereof, or any income earned by the Litigation Trust, shall be limited to the right and power that a qualified settlement fund, within the meaning of the QSF Regulations, is permitted to hold, pursuant to the Treasury Regulations and any IRS guidelines, whether set forth in IRS rulings, other IRS pronouncements, or otherwise.
The Litigation Trust is intended to be treated for U.S. federal income tax purposes as a “qualified settlement fund” as described within the QSF Regulations.
To the extent permitted by law, Tronox will elect to treat the Litigation Trust as a grantor trust, solely for tax purposes, pursuant to the QSF Regulations.
The Tort Claims Trust is intended to be treated for U.S. federal income tax purposes as a “qualified settlement fund” as described within the QSF Regulations.