Examples of Replacement Trustee in a sentence
On the date the Trustee’s resignation or removal becomes effective, the Trustee will sign and deliver to the Replacement Trustee all conveyances, transfers and further assurances that may be necessary or desirable to give effect to the appointment of the Replacement Trustee.
The Replacement Trustee must be a corporation which is resident in Canada, authorized under the laws of Canada or a province to offer trustee services to the public in Canada and which has entered into an agreement concerning Grants with the Minister.
If we do not appoint a Replacement Trustee within 60 days after we have received notice of the Trustee’s resignation or given notice to the Trustee of its removal, the Trustee may appoint a Replacement Trustee.
If the Employer does not appoint a Replacement Trustee within 100 days after the Employer has received notice of our resignation or given us notice of our removal, we may appoint a Replacement Trustee.
Where the Trustee’s term of appointment expires, the Trustee resigns, the Trustee is removed or the office of the Trustee is otherwise vacated for any reason, Council shall by way of a Band Council Resolution renew the Trustee’s term or appoint a Replacement Trustee, as applicable.
The term of appointment of the Trustee and any Replacement Trustee appointed by Council shall be 8 years.
Where the Trustee’s term of appointment expires, the term shall automatically be extended for an indefinite period until such time as Council renews the Trustee’s term by way of a Band Council Resolution or appoints a Replacement Trustee in accordance with this Article 14.
In the event the Trustee’s term of appointment expires, the Trustee resigns, the Trustee is removed or the office of the Trustee is otherwise vacated for any reason, the Trustee shall act honestly and in good faith and work cooperatively with the Replacement Trustee to ensure an efficient transition.
The Trustee, and each Replacement Trustee, is required at all times to be a trust company duly incorporated, validly existing and licensed and authorized to carry on business as a trustee in the Province of Saskatchewan, with the corporate power and authority to administer the Trust and the Trust Property in accordance with the provisions of this Agreement, and with assets under management of at least $500 million.
If at any point the Trustee fails to meet such requirements, the Trustee shall immediately notify Council of the same, and Council shall remove the Trustee by way of a Band Council Resolution and appoint a Replacement Trustee in accordance with Section 14.6.