Common use of Qualifications of Trustee Clause in Contracts

Qualifications of Trustee. No person shall at any time be eligible to be appointed as Trustee hereunder other than a corporation resident in Canada that is licensed or otherwise regulated under the Trust and Loan Companies Act (Canada) in addition to the laws of a Province of Canada or of Canada, to carry on in Canada the business of offering to the public its services as a trustee, and provided that such corporation has undertaken in writing to discharge all of the obligations and responsibilities of the Trustee hereunder.

Qualifications of Trustee. No person shall at any time Person will be eligible to be appointed as Trustee hereunder hereunder, or to continue to act as Trustee at any time, other than a corporation company incorporated under the laws of Canada or of a province or territory of Canada that, at such time, is resident in Canada that is licensed or otherwise regulated under for purposes of the Trust and Loan Companies Income Tax Act (Canada) in addition and is authorized and qualified to carry on the business of a trust company under the laws of a Province of Canada Ontario and every other jurisdiction where such authorization or of Canada, qualification is necessary to carry on in Canada the business of offering enable it to the public its services act as a trustee, and provided that such corporation has undertaken in writing to discharge all of the obligations and responsibilities of the Trustee trustee hereunder.

Qualifications of Trustee. No person shall at any time be eligible to be appointed as Trustee hereunder other than a corporation resident in Canada that is licensed or otherwise regulated authorized under the Trust and Loan Companies Act (Canada) in addition to the laws of a Province of Canada or of Canada, to carry on in Canada the business of offering to the public its services as a trustee, and provided that such corporation has undertaken in writing to discharge all of the obligations and responsibilities of the Trustee hereunder.