On trust Sample Clauses

The "On trust" clause establishes that certain assets, rights, or funds are to be held by one party for the benefit of another, creating a fiduciary relationship. In practice, this means that the holder (the trustee) must manage or use the specified property solely for the benefit of the beneficiary, and not for their own gain. This clause is commonly used in financial, commercial, or estate arrangements to ensure that assets are protected and managed according to the agreed terms. Its core function is to provide legal assurance that the beneficiary's interests are safeguarded and that the trustee is accountable for their proper administration.
On trust. The Note Trustee shall hold the benefit of the covenants contained in this Clause 4 (Covenant of Compliance) upon trust for itself and the Noteholders according to its and their respective interests.
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On trust. The Note Trustee will hold the benefit of the covenants contained in this Clause 2 (Covenant to Repay, etc) on trust for the Noteholders and itself in accordance with these presents.
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Related to On trust

  • Anti-Trust The MA Dual SNP hereby certifies to HHSC that neither the MA Dual SNP, nor the person represented by the MA Dual SNP, nor any person acting for the represented person, has been found by a judgment of a court of law to have violated the anti-trust laws codified by Chapter 15, Texas Business and Commerce Code, or the federal anti-trust laws.

  • The Trust Agreement The Trust Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

  • The Trust World Omni acknowledges and agrees that (a) WOAR will, pursuant to the Sale and Servicing Agreement, sell the Receivables to the Trust and assign its rights under this Agreement to the Trust and (b) the Trust will, pursuant to the Indenture, grant the Receivables and its rights under this Agreement and the Sale and Servicing Agreement to the Indenture Trustee on behalf of the Noteholders. World Omni hereby consents to all such sales and assignments and agrees that the Trust or, if pursuant to the Indenture, the Indenture Trustee, may exercise the rights of WOAR and enforce the obligations of World Omni hereunder directly and without the consent of WOAR.

  • DEUTSCHE TRUSTEE COMPANY LIMITED, as trustee (the “Trustee”);

  • The Trust Fund ▇▇▇▇▇▇ Mae, acting in its capacity as Trustee for the Lower Tier REMIC, does hereby transfer, assign, set over and otherwise convey to ▇▇▇▇▇▇ ▇▇▇, acting in its capacity as Trustee for the Trust Fund established hereby, all of ▇▇▇▇▇▇ Mae’s right, title and interest in and to the Lower Tier Regular Classes, including all payments of principal and interest thereon received after the month of the Issue Date.