Status of the Trust Clause Samples
The "Status of the Trust" clause defines the legal nature and standing of the trust established by the agreement. It typically clarifies that the trust is a separate legal entity, distinct from the trustee and beneficiaries, and may specify the jurisdiction under which the trust is governed. This clause ensures that all parties understand the trust's independent status, which is essential for legal recognition, tax treatment, and the proper administration of trust assets.
Status of the Trust. The trust shall be irrevocable until such time as the Grantor (or, in the event of the Grantor’s death, the Grantor’s Beneficiary(ies), as defined in Section I.(8) below) and the Administrator jointly provide written certification to the Trustee that all obligations of the Company to the Grantor and the Grantor’s Beneficiaries have been satisfied. The written certification of the Administrator shall specify the date as of which the trust shall terminate in accordance with Section I.(7) hereof. The trust is intended to constitute a grantor trust under which the Grantor is treated as grantor and owner pursuant to Sections 671 - 678 of the Internal Revenue Code of 1986, as amended, and shall be construed accordingly. Neither the Company nor any person other than the Grantor and, in the event of the Grantor’s death, the Grantor’s Beneficiary(ies), and the Trustee acting as such, have any right, title or interest in the assets of the Trust Fund.
Status of the Trust. The Trust is a Delaware statutory trust established under the Delaware Act by the filing of the Certificate of Trust in the Office of the Secretary of State of the State of Delaware on August 29, 2019. The Trust is not an investment company under the Investment Company Act of 1940 (the “1940 Act”) and it is not required to register thereunder. The Trust is not a commodity pool for purposes of the Commodity Exchange Act of 1936, and the Sponsor is not subject to regulation by the Commodity Futures Trading Commission as a commodity pool operator or a commodity trading advisor. The Sponsor is not registered as an investment adviser under the Investment Advisers Act of 1940 and is not required to register thereunder.
Status of the Trust. The Trust is a Massachusetts business trust governed by the terms of a Second Amended and Restated Declaration of Trust dated as of February 21, 1992 as amended by an Amendment dated February 21, 1995. No obligation of the Trust is personally binding upon, nor shall resort be had to the private property of any of the Trustees, shareholders, officers, employees or agents of the Trust, but the Trust property or a specific portion thereof only shall be bound.
Status of the Trust. The Trust Agreement is in full force and effect and has neither been modified or amended.
Status of the Trust. The Trust shall be irrevocable until such time as the Grantor (or, in the event of the Grantor's death, the Grantor's Beneficiaries, as defined in Section 6.8 hereof) and the Administrator provide written certification to the Trustee that all obligations of the Company to the Grantor and his or her Beneficiaries under the Excess Benefit Agreement have been satisfied. The Trust is intended to constitute a grantor trust under which the Grantor is treated as grantor and owner pursuant to Sections 671 through 679 of the Code, and shall be construed accordingly. Neither the Company nor any person other than the Grantor and, in the event of the Grantor's death, the Grantor's Beneficiaries, and the Trustee acting as such, have any right, title or interest in the assets of the Trust Fund. The assets of the Trust Fund shall at no time be subject to the rights of creditors of the Company.
Status of the Trust. The trust shall be irrevocable. The trust is intended to constitute a grantor trust under Sections 671-678 of the Internal Revenue Code, as amended, and shall be construed accordingly.
Status of the Trust. The Trust is a business trust duly formed and validly existing as a business trust in good standing under the laws of the Commonwealth of Pennsylvania, with the power to own, lease and operate its properties and to conduct its business as it is currently being conducted and to cause the Partnership to enter into and perform (or enter into and perform, as applicable) its obligations under this Agreement and each other agreement executed in connection herewith. The Trust is duly qualified as a foreign organization to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify would not reasonably be expected to have a Partnership Material Adverse Effect. The Trust is organized in conformity with the requirements for qualification as a “real estate investment trust” under the Code and currently intends to operate in a manner which will allow the Trust to continue to meet the requirements for taxation as a real estate investment trust under the Code. The Partnership has delivered to Contributor true, correct and complete copies of the Trust’s trust agreement and bylaws, each as amended and supplemented through the Effective Date and, following the Effective Date, will deliver any amendments or supplements which become effective or are executed prior to the Closing Date.
Status of the Trust. 5.1 In carrying out this Agreement the Trust, as an independent agency, is acting in its own right and not as an agent of the Council.
Status of the Trust. In return for limiting the ------------------- right of Co-Defendants to implead the Trust, except under the circumstances described in subsection 3(d)(ii)(B), below, the Trust shall be treated in litigation between Beneficiaries of the Trust as a legally responsible tortfeasor under applicable law, without the introduction of further proof. Under no circumstances shall the Trust be treated as a bankrupt unless:
1) formal bankruptcy, liquidation or insolvency proceedings are commenced by the Trust; or 2) such proceedings are commenced against the Trust and applicable law provides for treating the Trust as a bankrupt in such circumstances.
Status of the Trust. The trust shall be irrevocable until such time as the Grantor (or, in the event of the Grantor’s death, the Grantor’s Beneficiary(ies), as defined in Section I.(8) below) and the Administrator jointly provide written certification to the Trustee that (a) the Grantor has retired, died or otherwise terminated employment (which may include termination by reason of long-term disability) with the Company, (b) the Grantor is a citizen or lawful permanent resident of the United States who by virtue of a transfer of employment with the Company to a foreign jurisdiction has become subject to laws, rules, regulations or taxes that make the continued maintenance of the trust undesirable, or (c) the Grantor is a person who is not a citizen or lawful permanent resident of the United States who has transferred employment with the Company to a foreign jurisdiction. The written certification of the Administrator shall specify the date as of which the trust shall terminate in accordance with Section I.(7) hereof. The trust is intended to constitute a grantor trust under which the Grantor is treated as grantor and owner pursuant to Sections 671 - 678 of the Internal Revenue Code of 1986, as amended, and shall be construed accordingly. Neither the Company nor any person other than the Grantor and, in the event of the Grantor’s death, the Grantor’s Beneficiary(ies), and the Trustee acting as such, have any right, title or interest in the assets of the Trust Fund.