Common use of Solely constituted Clause in Contracts

Solely constituted. The Trust is solely constituted by the trust deed described in your Application and is as amended or substituted (Trust Deed); (e) right of indemnity: you have the right of indemnity against the assets of the Trust under the Trust Deed and there has not, and will not be, any breach of trust or any other action that will prevent you from enforcing your rights under that indemnity; (f) full authority: you are empowered and have full authority under the Trust Deed to enter into this Agreement and to enter into the transactions contemplated by it; (g) no actions: there is no current or pending or threatened action or proceeding affecting the Trust or any of the Trust’s assets before any court or body which draws or purports to draw into question or is likely to affect the legality, or validity, of your right of indemnity under the Trust Deed or of this Agreement or any Margin Contract or CFD or your ability to observe your obligations under it; (h) ceasing to be trustee: you will notify us immediately in writing if you cease for any reason to be the trustee of the Trust or the Trust is determined or ceases to exist; of the Trust that results in there being insufficient assets of the Trust to meet any of your liabilities under this Agreement.

Solely constituted. The Trust is solely constituted by the trust deed described in your Application and is as amended or substituted (Trust Deed); (e) right of indemnity: you have the right of indemnity against the assets of the Trust under the Trust Deed and there has not, and will not be, any breach of trust or any other action that will prevent you from enforcing your rights under that indemnity; (f) full authority: you are empowered and have full authority under the Trust Deed to enter into this Agreement and to enter into the transactions contemplated by it; (g) no actions: there is no current or pending or threatened action or proceeding affecting the Trust or any of the Trust’s assets before any court or body which draws or purports to draw into question or is likely to affect the legality, or validity, of your right of indemnity under the Trust Deed or of this Agreement or any Margin Margin; (h) Contract or CFD or your ability to observe your obligations under it; (hi) ceasing to be trustee: you will notify us immediately in writing if you cease for any reason to be the trustee of the Trust or the Trust is determined or ceases to exist; ; (j) no distribution of capital or income: you will not make any distribution of any income or capital or assets of the Trust that results in there being insufficient assets of the Trust to meet any of your liabilities under this Agreement.