TRUST DECLARATION Clause Samples

A Trust Declaration is a legal statement in which a person (the trustee) formally acknowledges that they hold certain assets on behalf of another person or group (the beneficiaries). This clause typically outlines the specific assets involved, the identity of the beneficiaries, and the terms under which the trustee must manage or distribute the assets. For example, it may specify that funds in a particular bank account are to be held for a child's education or that shares are held for a family member until they reach a certain age. The core function of a Trust Declaration is to clearly establish the existence and terms of a trust arrangement, thereby protecting the interests of the beneficiaries and ensuring the trustee's obligations are legally recognized.
TRUST DECLARATION. 5.1. Each Investor shall execute and deliver to the Company a trust declaration, in the form attached as Exhibit C to this Agreement (the “Trust Declaration”). The Trust Declaration shall convey to Company Beneficial Rights over the Investor Shares, in accordance with the terms and conditions specified therein. 5.2. The Trust Declaration shall be deemed an integral part of this Agreement, and any breach or violation of its terms shall be considered a breach of this Agreement. The Trust Declaration, once executed, shall be irrevocable, binding on the Parties, and enforceable in accordance with applicable laws. The Parties acknowledge and agree that the Trust Declaration is a key document governing the transfer of beneficial ownership and shall be subject to the laws of the jurisdiction in which the Investor Company is incorporated.
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TRUST DECLARATION. This Trust Declaration may be used to identify and adopt the Trust associated with the Plan. Name of Plan. Name of Employer. Effective date of Trust Agreement.
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TRUST DECLARATION. PURPOSES, POWERS AND DUTIES OF THE TRUSTEES; ADMINISTRATION
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TRUST DECLARATION. The Participating Employer agrees to use the same Trustee(s) as is designated on the Trust Declaration under the Agreement, except as provided in a separate agreement.
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TRUST DECLARATION. 4.1 The Vendor hereby declares that it shall hold legal title to the Names irrevocably in trust for the use, benefit, and advantage of the Purchaser. 4.2 The Vendor represents, warrants and covenants that it shall: (i) not sell, transfer, assign, hypothecate, pledge or otherwise dispose of or encumber any of the Names without the express written consent of the Purchaser; and (ii) make such applications and execute all such documents and do all such dealings as is reasonably required by the Purchaser to protect its beneficial interest or to facilitate any request made by the Purchaser to effect a change in its beneficial interest in the Names. 4.3 The Vendor irrevocably appoints the Purchaser to be its lawful attorney in its name. 4.4 The Purchaser hereby agrees and acknowledges that it shall pay all costs of any kind or nature that arise, after the effective date hereof, in connection with the Names, including but limited to future registration costs, legal fees and taxes.
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TRUST DECLARATION. The Vendor shall continue hold legal title to the Names, after the Closing Date, in trust for the sole benefit and use of the Purchaser in accordance with the provisions set out in Section 4 of this Agreement.
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TRUST DECLARATION. THE DECLARATION OF TRUST OF PURCHASER, A COPY OF WHICH IS DULY FILED WITH THE DEPARTMENT OF ASSESSMENTS AND TAXATION OF THE STATE OF MARYLAND, PROVIDES, AND SELLER AGREES, THAT THE NAME “HRPT PROPERTIES TRUST” REFERS TO THE TRUSTEES UNDER SUCH DECLARATION OF TRUST COLLECTIVELY AS TRUSTEES, BUT NOT INDIVIDUALLY OR PERSONALLY, AND THAT NO TRUSTEE, OFFICER, SHAREHOLDER, EMPLOYEE OR AGENT OF PURCHASER SHALL BE HELD TO ANY PERSONAL LIABILITY, JOINTLY OR SEVERALLY, FOR ANY OBLIGATION OF, OR CLAIM AGAINST, PURCHASER. ALL PERSONS DEALING WITH PURCHASER IN ANY WAY SHALL LOOK ONLY TO THE ASSETS OF PURCHASER FOR THE PAYMENT OF ANY SUM OR THE PERFORMANCE OF ANY OBLIGATION. [Signature Page of Purchase and Sale Agreement between The ▇▇▇▇▇ Fund XI—Fund XII—REIT Joint Venture and HRPT Properties Trust]
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TRUST DECLARATION 
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Related to TRUST DECLARATION

  • Declaration of Trust The Owner Trustee hereby declares that it will hold the Owner Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Certificateholders, subject to the obligations of the Trust under the Transaction Documents. It is the intention of the parties hereto that (i) the Trust constitute a statutory trust under the Statutory Trust Statute and that this Trust Agreement constitute the governing instrument of such statutory trust and (ii) solely for income and franchise tax purposes, the Trust shall be treated (A) if it has one beneficial owner, as a non-entity and (B) if it has more than one beneficial owner, as a partnership, with the assets of the partnership being the Receivables and other assets held by the Trust, the partners of the partnership being the Certificateholders and the Notes constituting indebtedness of the partnership. Unless otherwise required by the appropriate tax authorities, the Trust shall file or cause to be filed annual or other necessary returns, reports and other forms consistent with the characterization of the Trust either as a nonentity or as a partnership for such tax purposes. Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and in the Statutory Trust Statute with respect to accomplishing the purposes of the Trust. The parties have caused the filing of the Certificate of Trust with the Secretary of State. If it is determined that, contrary to the intent of the parties hereto and the position of the Certificateholder, the Trust has “gross receipts” for purposes of the Margin Tax, it is the intention of the parties hereto that the Trust be treated as a “passive entity” for purposes of the Margin Tax, formed to hold assets to facilitate securitization transactions in a manner similar to grantor trusts and real estate mortgage investment conduits as defined by Section 860D of the Code. The Depositor, and the Certificateholders by acceptance of a Certificate, agree that if it is determined that, contrary to the intent of the parties hereto and the position of the Certificateholder, the Trust has “gross receipts” for purposes of the Margin Tax, they will, unless otherwise required by law, treat the Trust as a “passive entity” for purposes of the Margin Tax and will not, unless otherwise required by law, take any action to include the Trust as part of an affiliated group engaged in a unitary business (as such terms are used in the Margin Tax). Notwithstanding anything to the contrary contained herein, nothing in this Trust Agreement should be read to imply that the Trust is doing business in Texas or has sufficient nexus with Texas in order for the Margin Tax to apply to the Trust.