Agents as Trustee Clause Samples
The 'Agents as Trustee' clause designates an agent to act as a trustee on behalf of one or more parties in a transaction or agreement. In practice, this means the agent holds certain assets, rights, or documents in trust, managing them according to the terms set out in the agreement and for the benefit of the beneficiaries. For example, an agent might hold funds in escrow or manage property titles until specific conditions are met. This clause ensures that assets are safeguarded and managed impartially, providing security and trust between parties by clearly defining the agent's fiduciary responsibilities.
Agents as Trustee. The Corporation acknowledges and agrees that it is the intention of the parties to this Agreement and the Corporation hereby constitutes the Agents as trustees for each of the Subscribers in respect of each of the representations and warranties of the Corporation contained in this Agreement and the Agents shall be entitled, as trustees, in addition to any rights of the Subscribers, to enforce such representations and warranties on behalf of the Subscribers.
Agents as Trustee. The Corporation acknowledges and agrees that it is the intention of the parties to this Agreement and the Corporation hereby constitutes the Agents as trustee for each of the Purchasers in respect of each of the covenants, agreements and representations and warranties of the Corporation contained in this Agreement and the Agents will be entitled, as trustees, in addition to any rights of the Purchasers, to enforce such covenants, agreements and representations and warranties on behalf of the Purchasers.