The Grantor Trust Trustee Clause Samples

The 'Grantor Trust Trustee' clause defines the role and responsibilities of the trustee in a trust that is classified as a grantor trust for tax purposes. This clause typically outlines the trustee's authority to manage trust assets, make distributions, and fulfill administrative duties in accordance with the grantor's instructions and relevant tax laws. For example, it may specify that the trustee must act in a manner that preserves the trust's grantor status, ensuring that income is taxed to the grantor rather than the trust itself. The core function of this clause is to clarify the trustee's obligations and powers in managing a grantor trust, thereby ensuring compliance with tax regulations and the grantor's intentions.
The Grantor Trust Trustee. Section 6.1 Duties of Grantor Trust Trustee. (a) The Grantor Trust Trustee undertakes to perform such duties, and only such duties, as are specifically set forth in this Agreement and the other Transaction Documents, including the administration of the Trust in the interest of the Grantor Trust Certificateholder, subject to the Transaction Documents and in accordance with the provisions of this Agreement. No implied covenants, obligations or duties (including fiduciary duties) or liabilities otherwise existing at law or in equity with respect to the Trust, shall be read into this Agreement. The Grantor Trust Trustee shall have no duty or obligation to perform the duties and obligations of the Trust and shall act only at the written direction of the Grantor Trust Certificateholder and, to the extent expressly provided herein, the Administrator or the Grantor with respect to the duties of the Trust. (b) Notwithstanding the foregoing, the Grantor Trust Trustee shall be deemed to have discharged its duties and responsibilities hereunder and under the other Transaction Documents to the extent the Administrator has agreed in the Administration Agreement to perform any act or to discharge any duty of the Trust or the Grantor Trust Trustee hereunder or under any other Transaction Document, and the Grantor Trust Trustee shall not be responsible for monitoring or supervising or performing the duties and obligations of the Administrator and shall not be liable for the default or failure of the Administrator to carry out its obligations under the Administration Agreement. (c) In the absence of bad faith on its part, the Grantor Trust Trustee may conclusively rely upon certificates or opinions furnished to the Grantor Trust Trustee and conforming to the requirements of this Agreement in determining the truth of the statements and the correctness of the opinions contained therein; provided, however, that the Grantor Trust Trustee shall have examined such certificates or opinions so as to determine compliance of the same with the requirements of this Agreement. (d) The Grantor Trust Trustee may not be relieved from liability for its own grossly negligent action, its own grossly negligent failure to act or its own willful misconduct, except that: (i) this Section 6.1(d) shall not limit the effect of Section 6.1(a) or 6.1(b); (ii) the Grantor Trust Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer unless it is proved that the...
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The Grantor Trust Trustee. 16 Section 6.1 Duties of Grantor Trust Trustee ............................................................... 16 Section 6.2 Rights of Grantor Trust Trustee ............................................................... 18 Section 6.3 Acceptance of Trusts and Duties ............................................................. 18 Section 6.4 Action upon Instruction by Certificateholders. ........................................ 22 Section 6.5 Furnishing of Documents .......................................................................
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The Grantor Trust Trustee 
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Related to The Grantor Trust Trustee

  • The Owner Trustee It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by Wilmington Trust, National Association on behalf of the Trust not individually or personally but solely as owner trustee of the Trust under the Trust Agreement of the Trust dated the date hereof in the exercise of the powers and authority conferred upon and vested in Wilmington Trust, National Association as owner trustee of the Trust under such Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as the personal representation, undertaking or agreement of Wilmington Trust, National Association, but is made and intended for the purpose of binding only the Trust and (iii) nothing herein contained shall be construed as creating any liability on the part of Wilmington Trust, National Association, individually or personally, to perform any covenant or obligation of the Trust, either expressed or implied, contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto.

  • Owner Trustee This Agreement has been signed on behalf of the Grantor by Wilmington Trust, National Association, not in its individual capacity, but solely in its capacity as Owner Trustee of the Grantor. In no event will Wilmington Trust, National Association in its individual capacity or a beneficial owner of the Grantor be liable for the Grantor’s obligations under this Agreement. For all purposes under this Agreement, the Owner Trustee is subject to, and entitled to the benefits of, the Trust Agreement.

  • Indenture Trustee In performing its obligations under this Agreement, the Indenture Trustee is subject to, and entitled to the benefits of, the Indenture. The Indenture Trustee will not have any liability for any act or failure to act of the Administrator.

  • Depositor Structured Asset Securities Corporation, a Delaware corporation having its principal place of business in New York, or its successors in interest.