Trust Earnings definition
Examples of Trust Earnings in a sentence
As used in this Section 4(o), to the extent there shall be a sale of Shares on or following any Registration Statement Amendment Date, Trust Earnings Report Date, Trust Periodic Report Date or Request Date, “promptly” shall be deemed to be at or prior to the Applicable Time for such sale.
Upon the occurrence of an Event of Default, moneys then held in the Peso Trust Account, US Dollar Trust Earnings Account, US Dollar Trust Drydock Reserve Account, US Dollar Trust Retention Account, Earnings Account, Drydock Reserve Account and Retention Account shall be retained by the Collateral Agent and the Trustee, as applicable, as collateral security for the Facility to be applied by the Facility Agent in the manner set forth in Section 8.3.
If the Trust Earnings exceed the trustee fees, such excess earnings shall be paid to the Company.
The Obligors shall procure that all earnings from all Third Party Charters that are employed in Mexico under the Mexican Navigation and Maritime Commerce Law (Ley de Navegación y Comercio Marítimos) are to be paid into the Peso Trust Account, immediately converted into Dollars (as required pursuant to the terms of the Guarantee, Administration and Source of Payment Trust Agreement) and immediately thereafter deposited into the US Dollar Trust Earnings Account.
The requirement to cause to be furnished officers’ certificates pursuant to this Section 4(o) shall be waived for any Registration Statement Amendment Date, Trust Earnings Report Date, Trust Periodic Report Date or Request Date occurring at a time at which the Trust has not instructed any Agent to sell Shares as provided in Section 3(b), which waiver shall continue until the date on which the Trust delivers such an instruction as provided in Section 3(b).
In the event the balance of the Benefit Fund is less than $5,000,000.00 at the time of receipt of the final notice from the Claims Administrator, the Trustee shall notify the Settlor of the deficit and the Settlor shall contribute, or cause to be contributed, an amount necessary to restore the balance of the Benefit Fund to $5,000,000.00 and thereupon the Trustee shall convey the $5,000,000.00 balance of the Benefit Fund and the Trust Earnings to the successor established by Class Counsel.
In the event the balance of the Benefit Fund is greater than $5,000,000.00 at the time of receipt of final notice from the Claims Administrator, the Trustee shall convey $5,000,000.00 of the Benefit Fund and the Trust Earnings to the successor and all remaining amounts in the Benefit Fund that are not used to satisfy the obligations of the Trust, including the compensation and expenses of the Trustee, shall be distributed as directed by the Settlor and as approved by the Court.
The Borrower shall procure that all earnings from all Relevant Vessels that are employed in Mexico under the Mexican Navigation and Maritime Commerce Law (Ley de Navegación y Comercio Marítimos) are to be paid into the Peso Trust Account, immediately converted into Dollars, in case such earnings are denominated in Pesos (as required pursuant to the terms of the Guarantee, Administration and Source of Payment Trust Agreement) and immediately thereafter deposited into the US Dollar Trust Earnings Account.
The requirement to cause to be furnished the opinions and letters pursuant to this Section 4(p) shall be waived for any Registration Statement Amendment Date, Trust Earnings Report Date, Trust Periodic Report Date or Request Date occurring at a time at which the Trust has not instructed any Agent to sell Shares as provided in Section 3(b), which waiver shall continue until the date on which the Trust delivers such an instruction as provided in Section 3(b).
The requirement to cause to be furnished accountant letter(s) pursuant to this Section 4(q) shall be waived for any Registration Statement Amendment Date, Trust Earnings Report Date, Trust Periodic Report Date or Request Date occurring at a time at which the Trust has not instructed any Agent to sell Shares as provided in Section 3(b), which waiver shall continue until the date on which the Trust delivers such an instruction as provided in Section 3(b).