Duration of the Trust Clause Samples

Duration of the Trust. 13.2.1 The PRT may not be revoked by the Company or Beneficiaries, acting as a whole, or the Trustee, provided that the NEB in the exercise of its statutory authority may direct the termination of the PRT, and order such successive arrangements as are appropriate in view of fulfilling the purpose of the PRT. For greater certainty, the rule in ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ shall not be applicable to the PRT or the Trust Fund. 13.2.2 This Agreement shall have no specific term but shall commence on the date first mentioned above and shall continue until terminated in writing by the Company, with the approval of the NEB. 13.2.3 In the event that the rule against perpetuities applies to the PRT under the laws of Alberta, the PRT shall continue for a term ending at the conclusion of the perpetuity period as determined under the "wait and see" provisions of the Perpetuities Act, R.S.A. 2000, c. P-5, as amended. 13.2.4 In the event that (a) the PRT ceases to qualify as a Qualifying Environmental Trust in circumstances other than those contemplated by section 13.3, or (b) the Trustee is of the view that the period permitted by the perpetuity legislation of ▇▇▇▇▇▇▇ ▇▇▇ expire in not more than five years, then, as soon as practicable, (c) if there is no Event of Default with respect to the Company, the Trustee shall pay the Trust Fund to the Company, and the Company covenants upon receipt of the Trust Fund, to settle, at once, a new irrevocable trust that qualifies as a Qualifying Environmental Trust upon terms and conditions approved by the NEB (the "New Trust"), and to contribute to the New Trust an amount equal to the value of the entirety of the Trust Fund, and (d) in any other circumstance, the Trustee shall seek directions from the NEB on the successive arrangements which are appropriate in the circumstances in accordance with section 13.2.1 and (e) thereafter this Agreement and the trusts hereunder shall terminate.

Duration of the Trust. The Trust shall continue perpetually unless termination pursuant to the provisions contained herein or pursuant to any applicable provision of the Delaware Statutory Trust Statute.

Duration of the Trust. (a) Except where section 2.05(b) applies: (i) As long as the rule against perpetuities applies to the Trust under the laws of Alberta, the Trust shall continue for a term (“Trust Term”) ending at the conclusion of the perpetuity period as determined under relevant provisions the Perpetuities Act, R.S.A. 2000, c. P-5. (ii) not more than five (5) years prior to the expiration of the Trust Term and not less than one (1) year prior to the expiration of the Trust Term, the Trustee shall pay the entirety of the Fund to the Company, provided that the Trustee has received a certificate of an officer of the Company stating that: (1) the Company is not in Default and (2) no events or circumstances have occurred which would reasonably be expected to result in a Default of the Company within one (1) year after the date the certificate is issued; (iii) the Company covenants to, upon receipt of the Fund, (1) keep the Fund separate and distinct from other assets of the Company; and (2) to immediately establish a new irrevocable trust upon the terms and subject to the same conditions set out in this agreement (the “New Trust”) and to contribute to the New Trust the entirety of the Fund; and (v) if the entirety of the Fund has not been paid to the Company pursuant to section (a)(ii), the Trustee shall notify the Tribunal thereof not later than ten (10) months prior to the expiry of the Trust Term, and the Trustee shall pay the entirety of the Fund in accordance with the direction made by the Tribunal. If, after the date of this trust agreement and prior to disbursement of the entirety of the Fund pursuant to section 2.05(a), the rule against perpetuities no longer applies to QETs governed by the law of the Province of Alberta, this (a) This trust agreement shall have no specific term but shall commence on the date first mentioned above and shall continue until terminated in writing by the Company, with the approval of the Tribunal.

Duration of the Trust a) If the rule against perpetuities does not apply in the Province of Ontario at the relevant time, this Agreement shall have no specific term but shall commence on the date first mentioned above and shall continue until terminated in writing by the Company, with the approval of the Tribunal. b) If the rule against perpetuities applies in the Province of Ontario: (i) this Agreement shall terminate no later than the expiration of the perpetuity period as determined under relevant provisions the Perpetuities Act, R.S.O. 1990, c.P-9 (the “Trust Term”); (ii) not more than five (5) years prior to the expiration of the Trust Term, and provided that the Company is not in Default, the Trustee shall pay the entirety of the Fund to the Company, and the Company covenants upon receipt of the Fund to establish, at once, a new irrevocable trust upon terms and subject to the same conditions set out in this Agreement (the “New Trust Fund”), and, if consistent with Applicable Laws, to promptly contribute to the New Trust Fund the entirety of the Fund. c) This Agreement is drafted on the basis that the Accumulations Act (Ontario) does not apply to the Fund. If the Accumulations Act (Ontario) is ever found to apply to the Fund by a Court of competent jurisdiction, any income arising outside of the applicable accumulation period as determined by the court shall be returned to the Company. The Company shall contribute to the Fund any amounts that are returned to it under this subsection 2.04(c). For greater certainty, the Trustee is authorized to seek the direction of the Court to determine the application of the Accumulations Act (Ontario) to the Trust.

Duration of the Trust. This Agreement shall have no specific term but shall commence on the date first mentioned above and shall continue until terminated in writing by the Company, with the approval of the Tribunal. In the event that

Duration of the Trust. Formatted: Indent: Left: 0.58", No bullets or numbering (a) This trust agreement shall have no specific term but shall commence on the date first mentioned above and shall continue until terminated in writing by the Company, with the approval of the Tribunal. (b) In the event that (i) the Trust ceases to qualify as a QET in circumstances other than those contemplated by section 2.04(a), or (ii) the Trustee is of the view that the period permitted by the perpetuity legislation of ▇▇▇▇▇▇▇ ▇▇▇ expire in not more than five years, (iii) if the Company is not in Default, the Trustee shall pay the Fund to the Company to be held and identified as property to be used for Reclamation Obligations, and the Company covenants upon receipt of the Funds, to settle, at once, a new irrevocable trust that qualifies as a QET upon terms and conditions approved by the Tribunal (the “New Trust"), and to contribute at once to the New Trust an amount equal to the value of the entirety of the Fund, and (iv) in any other circumstance, the Trustee shall seek directions from the Tribunal on the successive arrangements which are appropriate in the circumstances in accordance with Section 7.02, and (v) thereafter this Agreement and the trusts hereunder shall terminate.

Duration of the Trust. This Trust Agreement will have the duration necessary for the accomplishment of its objectives, but it may not exceed the maximum period established in the law for this type of contract, and it will be extinguished by any of the circumstances foreseen in Article 392 of the General Law of Negotiable Instruments and Credit Transactions.

Duration of the Trust. The Trust shall continue for a period of 99 (ninety nine) years until dissolved by either of the Fund Manager, Trustee or Unitholders in accordance with the provisions of this Trust Deed, as may be proposed at the Unitholders’ Meeting. The Unitholders may, at the Meeting, appoint one or more liquidators who may be private individuals or companies.

Duration of the Trust. This Trust will be established at the time and date of the execution of this Trust Agreement by the Company and the Trustee, and shall terminate at the earliest of the following dates: 1) Upon the payment in full of the claims of all creditors who have filed claims with the Trustee, or, 2) A date six years from the creation of this Trust. For all purposes of this Trust Agreement, the date referred to in Section II(c)1., shall be determined solely in the discretion of the Trustee.