Creation and Declaration of Trust Clause Samples
The 'Creation and Declaration of Trust' clause formally establishes the existence of a trust and sets out the settlor’s intention to transfer assets to a trustee for the benefit of specified beneficiaries. This clause typically details the assets being placed into the trust, identifies the parties involved (such as the settlor, trustee, and beneficiaries), and outlines the terms under which the trust will operate. Its core function is to provide legal certainty and clarity regarding the trust’s formation, ensuring that the trust is validly constituted and that all parties understand their roles and obligations.
Creation and Declaration of Trust. (a) The Trust continued hereby shall be known as the “Vaulted Gold Bullion Trust,” in which name the Trustee may conduct the business of the Trust, make and execute contracts, and ▇▇▇ and be sued. It is the intention of the parties hereto that the Trust created hereby constitutes a statutory trust under the Act, and that this document constitutes the governing instrument of the Trust. The execution and filing of the certificate of trust by the Trustee and the Delaware Trustee with the Delaware Secretary of State are hereby ratified. The Trustee acknowledges that on the date hereof, on behalf of the Trust, it has received from the Underwriter confirmation that the Mint has received a deposit of a specified amount, designated in ▇▇▇▇ ounces, of Gold Bullion from the Initial Depositor, and that the Mint has credited on its records such deposit to the Trust Allocated Account for the benefit of the Trust. The Gold Bullion shall be held at the Mint by the Bank of Montreal in the Trust Allocated Account for the benefit of the holders of the Gold Deposit Receipts for the purposes of, and subject to, and limited by, the terms and conditions set forth in, this Agreement. The Trust will offer initially the following three classes of Gold Deposit Receipts, all of which have the same rights and rank pari passu with one another, and shall each represent an undivided interest in one ▇▇▇▇ ounce of Gold Bullion: Class A Gold Deposit Receipts, Class F Gold Deposit Receipts, and Class F-1 Gold Deposit Receipts, the terms of which shall be identical, but which shall be subject to differing selling concessions or fees at the time of initial issuance and sale.
(b) From time to time, the Initial Depositor will deposit with the Mint, Gold Bullion in such quantities as required necessary to satisfy the requirements of issuance of each Gold Deposit Receipt in accordance with this Article 2.
(c) The Trustee on behalf of the Trust shall have full power and authority to engage in such business or activities as are expressly set forth in this Agreement and any other agreements or instruments to which, in compliance with the provisions of this Trust Agreement, it shall become a party to or by which it may be bound. The Trust shall not engage in any business or activities other than those expressly required or authorized by this Agreement and any other agreements or instruments to which, in compliance with the provisions of this Trust Agreement, it shall become a party. Other than issuan...
Creation and Declaration of Trust. FORM OF CERTIFICATES; DEPOSIT OF GOLD; DELIVERY, REGISTRATION OF TRANSFER AND SURRENDER OF SHARES
Creation and Declaration of Trust. Termination Date. The trust created hereby shall be known as [Name of Trust], for which the Trustee, or the Initial Depositor to the extent provided herein, may conduct the business of the Trust, make and execute contracts, and ▇▇▇ and be sued. The termination date of the Trust will be December 31, 2005, unless terminated earlier pursuant to the Standard Terms.
Creation and Declaration of Trust. Sale of Term Assets;
Creation and Declaration of Trust. Creation and Declaration of Trust; Business of the Trust 7
Creation and Declaration of Trust. FORM OF CERTIFICATES; DEPOSIT OF EURO; DELIVERY, REGISTRATION OF TRANSFER AND SURRENDER OF SHARES
Creation and Declaration of Trust. FORM OF CERTIFICATES; DEPOSIT OF EURO; DELIVERY, REGISTRATION OF TRANSFER AND SURRENDER OF SHARES...................................... 9
Section 2.1 Creation and Declaration of Trust; Business of the Trust......................... 9 Section 2.2 Form of Certificates; Book-Entry System; Transferability of Shares............... 10 Section 2.3 Deposit of Euro.................................................................. 12 Section 2.4
Creation and Declaration of Trust. Assignment of Securities
(a) The Depositor, concurrently with the execution and delivery of the Trust Agreement, shall transfer to the Trustee, on behalf and for the benefit of the Certificateholders and without recourse, all the right, title and interest of the Depositor, in, to and under (i) the Securities, (ii) the Certificate Account, including all income from the investment of funds on deposit therein, (iii) all payments on or under and all proceeds of any of the foregoing (including all proceeds of the conversion thereof, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, condemnation awards, causes of action, rights to payment of any and every kind and other forms of obligations, receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing) and (iv) all other assets included or to be included in the Trust Property, in each case of clauses (i) through (iv) except for any Retained Interest. The transfer of the Securities in accordance with the immediately preceding sentence shall include all rights, powers and options of the Depositor thereunder, including the first priority and continuing right to claim for, collect, receive and give receipt for principal, premium, if any, and interest payments in respect of the Securities and all other moneys payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring Proceedings and generally to do and receive anything that the Depositor is or may be entitled to do or receive thereunder or with respect thereto.
(b) In connection with the transfer of the Securities referred to in paragraph (a) above, the Depositor shall, not later than the Closing Date, (i) deposit the Securities with the Trustee by physical delivery of such Securities, duly endorsed, to the Trustee or cause the Securities to be registered by book-entry in the name of the Trustee (provided that the book-entry depositary shall be an agency of the United States, DTC or another book-entry institution acceptable to the Depositor) and (ii) deliver or cause to be delivered to the Trustee all documents necessary to transfer the Securities to the Trustee.
Creation and Declaration of Trust. Business of the Trust.
(a) The Trustee acknowledges that an initial deposit of 100 British Pounds under and in accordance with this Agreement has been made in the Interest Account by the Sponsor on the date hereof in exchange for one Share. The Sponsor is purchasing the initial Share solely for the purpose of forming the Trust. The Sponsor will redeem the initial Share for 100 British Pounds as promptly as practicable after the Form S-1 registration statement filed with the Commission with respect to the Shares is declared effective by the Commission and the Initial Purchaser, as defined in the registration statement, deposits British Pounds in accordance with the registration statement.
(b) The Trustee declares that it will hold that initial deposit and all other Trust Property as trustee for the benefit of the Registered Owners for the purposes of, and subject to and limited by the terms and conditions set forth in, this Agreement. The trust created by this Agreement shall be known as the "CurrencyShares(SM) British Pound Sterling Trust".
Creation and Declaration of Trust. FORM OF CERTIFICATES; DEPOSIT OF GOLD; DELIVERY, REGISTRATION OF TRANSFER AND SURRENDER OF SHARES 7
Section 2.1 Creation and Declaration of Trust; Business of the Trust. 7
Section 2.2 Form of Certificates; Book-Entry System; Transferability of Shares. 8 Section 2.3 Deposit of Gold. 9