Separate Trust definition

Separate Trust means any separate trust created pursuant to Section 7.3 and administered in accordance with the terms of Section 7.12, for the exclusive benefit of any Beneficiary.

Separate Trust means each of the trusts constituted under the Trust Deed;

Separate Trust means each of the trusts, one for each Series and the Secured Property in respect of that Series, constituted under the Security Trust Deed and the relevant Security Deed;

Examples of Separate Trust in a sentence

• The Trustee has executed a Declaration of Trust under which the Trustee undertakes to hold each Underlying Share transferred to the Trustee (or its nominee) by Citi, or an Applicant, as trustee for the holder of the corresponding CitiFirst Instalment MINI on a Separate Trust until the Maturity Date, or if earlier, the exercise of a CitiFirst Instalment MINI.

• Any remaining amount in such Separate Trust shall be distributed to the Beneficiary.

• Any Shares transferred to a Separate Trust and designated Shares-in-Trust pursuant to Section 7.3 shall be held for the exclusive benefit of the Beneficiary.

• Any transfer to a Separate Trust, and subsequent designation of Shares as Shares-in-Trust, pursuant to Section 7.3 shall be effective as of the close of business on the business day prior to the date of the Transfer or Non-Transfer Event that results in the transfer to the Separate Trust.

• Each Beneficiary and Prohibited Owner waives any and all claims that they may have against the Trustee and the Separate Trust arising out of the disposition of Shares-in-Trust, except for claims arising out of the gross negligence or willful misconduct of, or any failure to make payments in accordance with this Section 7.12 by, such Trustee or the Separate Trust.

More Definitions of Separate Trust

Separate Trust means each of the trusts, one for each Underlying Entities’ Shares, constituted under this Deed.

Separate Trust means any separate trust created pursuant to Section 9.3 and administered in accordance with the terms of Section 9.11, for the exclusive benefit of any Beneficiary.

Separate Trust means each of the trusts, one for each Series and the Secured Property in respect of that

Separate Trust shall have the meaning set forth in Section 11.3.

Separate Trust if elected the Adoption Agreement, means the separate trust agreement or document between the Employer and the Trustee that, together with the Adoption Agreement and this Basic Plan Document, governs the Trust Fund. If a Separate Trust is elected, the provisions of the Separate Trust shall superseded the trust provisions contained herein.

Separate Trust means each of the trusts, one for each Underlying Security and any Second Interest Amount constituted under the Trust Deed.

Separate Trust means each of the trusts, one for each Underlying Entities’ Share, constituted under the Trust Deed.