Statutory Powers of Appointment Clause Samples

The Statutory Powers of Appointment clause defines the authority granted to certain individuals or entities, typically trustees or executors, to appoint or distribute assets in accordance with powers provided by law. In practice, this clause allows the designated party to make decisions about the allocation of trust or estate property, often within the boundaries set by relevant statutes or the governing document. Its core function is to ensure that asset distribution can be managed flexibly and efficiently, addressing unforeseen circumstances and providing a legal framework for discretionary decisions.
Statutory Powers of Appointment. The powers of appointment of a Receiver shall be in addition to all statutory and other powers of appointment of the Security Agent under the Law of Property ▇▇▇ ▇▇▇▇ (as extended by this Agreement) or otherwise and such powers shall remain exercisable from time to time by the Security Agent in respect of any part of the Charged Portfolio.
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Statutory Powers of Appointment. The powers of appointment of a Receiver shall be in addition to all statutory and other powers of appointment of the Security Trustee under the Conveyancing and Property Ordinance (Cap.219) (as extended by this Debenture) or otherwise and such powers shall remain exercisable from time to time by the Security Trustee in respect of any part of the Charged Property.
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Statutory Powers of Appointment. The power of appointing a Receiver shall be in addition to all statutory and other powers of appointment of the Trustee under the LPA (as extended by this Deed) or otherwise and such powers shall remain exercisable from time to time by the Trustee in respect of any of the Charged Property.
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Statutory Powers of Appointment. The powers of appointment of a Receiver pursuant to Clause 19.1 (Appointment of Receiver) above shall be in addition to all statutory and other powers of appointment of the Lender under the LPA (as extended by this Deed), the Insolvency Act or otherwise and such powers shall remain exercisable from time to time by the Lender in respect of any part of the Security Assets and shall be exercisable without the restrictions contained in sections 103 and 109 of the LPA or otherwise.
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Statutory Powers of Appointment. The powers of appointment of any Receiver set out in this Debenture shall be in addition to all statutory and other powers of appointment of the Chargee under any statute and such powers shall also remain exercisable from time to time by the Chargee in respect of any part of the Charged Assets.
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Statutory Powers of Appointment. The powers of appointment of a Receiver shall be in addition to all statutory and other powers of appointment of EPIL under the Law of Property Act 1925 (as extended by this Floating Charge) or otherwise and such powers shall remain exercisable from time to time by EPIL in respect of any part of the Charged Property.
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Statutory Powers of Appointment. The powers of appointment of a Receiver shall be in addition to all statutory and other powers of appointment of Funding 2 under the Law of Property ▇▇▇ ▇▇▇▇ (as extended by this Agreement) or otherwise and such powers shall remain exercisable from time to time by Funding 2 or, following the delivery of an Master Intercompany Loan Acceleration Notice, the Funding 2 Security Trustee in respect of any part of the Security Assets.
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Statutory Powers of Appointment. The powers of appointment of a Receiver shall be in addition to all statutory and other powers of appointment of the Secured Party under the Act (as extended by this Agreement) or otherwise and such powers shall remain exercisable from time to time by the Secured Party in respect of any part of the Charged Portfolio and/or Assigned Property.
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Statutory Powers of Appointment. The powers of appointment of a Receiver pursuant to Clause 19.1 (Appointment of Receiver) above shall be in addition to all statutory and other powers of appointment of the Lender under the LPA (as extended by this Deed), the Insolvency Act or otherwise and such powers shall remain exercisable from time to time by the Lender in respect of any part of the Security Assets and shall be exercisable without the restrictions contained in sections 103 and 109 of the LPA or otherwise.
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Related to Statutory Powers of Appointment

  • Terms of Appointment Every separate trustee and co-trustee will be appointed and act subject to the following: (i) all rights, powers and obligations of the Indenture Trustee will apply to and will be exercised or performed by the Indenture Trustee, or the Indenture Trustee and the separate trustee or co-trustee jointly (it being understood that the separate trustee or co-trustee will not be authorized to act separately without the Indenture Trustee joining in the act), except if under the law of a jurisdiction in which a particular act or acts are to be performed the Indenture Trustee will be incompetent or unqualified to perform those act or acts, in which event those acts will be exercised and performed singly by the separate trustee or co-trustee, but solely at the direction of the Indenture Trustee; (ii) no trustee will be personally liable by reason of an act or omission of another trustee under this Indenture; and (iii) the Indenture Trustee may accept the resignation of or remove a separate trustee or co-trustee.

  • Letters of Appointment once signed by the employee and returned to the Employer, shall be sent to the Union within 30 days. Within 1 week of the Employer’s receipt of the letter of acceptance from the successful Applicant, the Employer will indicate on the postings website that the position has been filled.

  • Appointment, Powers and Immunities Each Bank hereby irrevocably appoints and authorizes the Agent to act as its agent hereunder and under the other Loan Documents with such powers as are specifically delegated to the Agent by the terms hereof and thereof, together with such other powers as are reasonably incidental thereto. The Agent: (a) shall have no duties or responsibilities except as expressly set forth in this Agreement and the other Loan Documents, and shall not by reason of this Agreement or any other Loan Document be a trustee for any Bank; (b) shall not be responsible to the Banks for any recitals, statements, representations or warranties contained in this Agreement or any other Loan Document, or in any certificate or other document referred to or provided for in, or received by any Bank under, this Agreement or any other Loan Document, or for the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document or any other document referred to or provided for herein or therein or for any failure by the Borrower to perform any of its obligations hereunder or thereunder; (c) shall not be required to initiate or conduct any litigation or collection proceedings hereunder or under any other Loan Document except to the extent requested by the Required Banks, and then only on terms and conditions satisfactory to the Agent, and (d) shall not be responsible for any action taken or omitted to be taken by it hereunder or under any other Loan Document or any other document or instrument referred to or provided for herein or therein or in connection herewith or therewith, except for its own gross negligence or willful misconduct. The Agent may employ agents and attorneys-in-fact and shall not be responsible for the negligence or misconduct of any such agents or attorneys-in-fact selected by it with reasonable care. The provisions of this Article VII are solely for the benefit of the Agent and the Banks, and the Borrower shall not have any rights as a third party beneficiary of any of the provisions hereof. In performing its functions and duties under this Agreement and under the other Loan Documents, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation towards or relationship of agency or trust with or for the Borrower. The duties of the Agent shall be ministerial and administrative in nature, and the Agent shall not have by reason of this Agreement or any other Loan Document a fiduciary relationship in respect of any Bank.

  • Types of Appointment Regular Employment The Employer may fill a position with a regular employment appointment for positions scheduled to work twelve (12) months per year. Cyclic Year Employment The Employer may fill a position with a cyclic year appointment for positions scheduled to work less than twelve (12) full months each year, due to known, recurring periods in the annual cycle when the position is not needed or due to known budgetary restraints. At least fifteen (15) days before the start of each annual cycle, incumbents of cyclic year positions will be informed, in writing, of their scheduled periods of leave without pay in the ensuing cycle. Such periods of leave without pay will not constitute a break in service. When additional work is required of a cyclic position during a period for which the position was scheduled for leave without pay, the temporary work will be offered to the incumbent. The incumbent will be allowed at least three (3) working days in which to accept or decline the offer. Should the incumbent decline the work, it will be offered to other cyclic employees, in the same classification, with the necessary skills and abilities, in order of seniority, before being filled by other means. Project Employment The Employer may appoint employees into project positions for which employment is contingent upon state, federal, local, grant, or other special funding of specific and of time-limited duration. The Employer will notify the employees, in writing, of the expected ending date of the project employment. Employees who have entered into project employment without previously attaining permanent status will serve a probationary period. Employees will gain permanent project status upon successful completion of their probationary period. Employees with permanent project status will serve a trial service period when they: a. Promote to another job classification within the project; or b. Transfer or voluntarily demote within the project to another job classification in which they have not attained permanent status. The Employer may consider project employees with permanent project status for transfer, voluntary demotion, or promotion to non-project positions. Employees will serve a trial service period upon transfer, voluntary demotion, or promotion to a non-project position. When the Employer converts a project appointment into a permanent appointment, the employee will serve a probationary or trial service period.

  • Types of Appointments A. Regular Appointments for positions scheduled to work twelve (12) months per year. B. Cyclic Appointments for positions scheduled to work less than twelve (12) full months each year due to known, recurring periods in the annual cycle when the position is not needed or due to known budgetary restraints. (1) At least fifteen (15) calendar days before the start of each annual cycle, incumbents of cyclic positions will be informed in writing of their scheduled periods of leave without pay in the ensuing annual cycle. Such leave without pay will not: (a) Constitute a break in service and will not be deducted from the employee’s length of service in granting periodic increments. (b) Be considered when computing the employee’s vacation leave accrual rate. (2) When additional work is required of a cyclic position during a period of which the position was scheduled for leave without pay, the temporary work will first be offered to the incumbent. The incumbent will be allowed at least three (3) working days in which to accept or decline the offer. (3) When additional pre-scheduled work is available during the leave without pay period that is declined or cannot be completed by the incumbents, the work will be offered to Cyclic Appointment employees prior to internal employees, students, or external candidates. The work will be offered in the following order, based on seniority: (a) Cyclic Appointments in the same job classification. (b) Cyclic Appointment in different job classifications with the desired skills and abilities to perform the work. (4) Employees who elect to accept work in a different job classification will be compensated at the rate of pay of the position they have accepted. However, if an employee accepts work in a lower classification and their current rate of compensation falls within the pay range for that classification, they will maintain their current rate of pay within the lower classification. (5) Both the Employer and the Union are encouraged to utilize the Joint Union Management Committee process to resolve problems/concerns related to the cyclic leave without pay assignments. C. Temporary Appointments Temporary appointment may be made only to (a) perform work in the absence of an employee on leave for more than six (6) consecutive months or (b) perform work which does not exceed one thousand fifty (1050) hours in any twelve (12) consecutive month period. At the conclusion of a temporary appointment a permanent employee shall have the right to revert to his/her former position or to an equivalent position. No temporary appointment shall take the place of employees laid-off due to lack of work or lack of funds.