Trust Administrator definition
Examples of Trust Administrator in a sentence
The predecessor Owner Trustee shall, upon payment of its fees and expenses, deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement; and the Depositor, the Trust Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations.
In any event of any claim, action or proceeding for which indemnity will be sought pursuant to this Section, the Indemnified Party’s choice of legal counsel shall be subject to the approval of the Trust Administrator, which approval shall not be unreasonably withheld.
The Issuing Entity shall or the Depositor or the Trust Administrator shall cause the Issuing Entity to, to the extent eligible, make the election under Section 6221(b) of the Code (and any corresponding provision of state law) with respect to determinations of adjustments at the partnership level and take any other action such as disclosures and notifications necessary to effectuate such election.
If the election described in the preceding sentence is not available, to the extent applicable, the Issuing Entity shall or the Depositor or the Trust Administrator shall cause the Issuing Entity to make the election under Section 6226(a) of the Code (and any corresponding provision of state law) with respect to the alternative to payment of imputed underpayment by partnership and take any other action such as filings, disclosures and notifications necessary to effectuate such election.
The Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Trust Administrator (and the Trust Administrator will provide each Rating Agency with notice thereof pursuant to Section 2.01(d) of the Administration Agreement), the Servicer, the Depositor, the Indenture Trustee and the Trust Certificateholders.