Trust No Clause Samples

The "Trust No" clause establishes that no trust relationship is created between the parties involved in the agreement. In practice, this means that neither party is acting as a trustee or beneficiary for the other, and no fiduciary duties arise from their interactions under the contract. This clause is important because it clarifies the legal relationship, preventing misunderstandings or unintended obligations that could arise if a trust were implied, thereby ensuring that each party is only responsible for their own actions and interests.
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Trust No. 113790. Anything herein to the contrary notwithstanding, each and all of the representations, covenants, undertakings and agreements herein made on the part of Declarant Trust No. 113790, while in form purporting to be the representations, covenants, undertakings and agreements of said Declarant, are nevertheless each and every one of them made and intended not as personal representations, covenants, undertakings and agreements by Declarant or for any other purpose or intention other than the limited purpose of binding only that portion of the trust property specifically described herein, and this instrument is executed and delivered by LaSalle National Bank, not in its own right, but solely in the exercise of the powers conferred upon it as Trustee of Trust No. 113790, and that no personal liability or personal responsibility is assumed by nor shall at any time be asserted or enforceable against Declarant or LaSalle National Bank on account of this instrument or on the account of any representation, covenant, undertaking, or agreement of said Declarant in this instrument contained, either expressed or implied, all such personal liability, if any, being expressly waived and released.
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Trust No. The interest of every beneficiary and of any person who may become entitled to any interest under this trust shall consist only of (1) the power to direct the trustee to deal with title to the property; (2) the power to manage, possess, use and control the property; and (3) the right to receive the earnings, avails and proceeds from leases and other uses from mortgages, sales and other dispositions of the property. Such rights and powers shall be personal property and may be assigned as such. On the death of any beneficiary his interest, except as otherwise specifically provided, shall pass to his executor or administrator and not to his heirs at law. No beneficiary at any time shall have any right, title or interest in or to any portion of the legal or equitable title to the property. The death of any beneficiary shall not terminate the trust or affect the rights or powers of the trustee or of the beneficiaries except as provided by law.
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Related to Trust No

  • Trust Not a Partnership; Taxation It is hereby expressly declared that a trust and not a partnership is created hereby. No Trustee hereunder shall have any power to bind personally either the Trust's officers or any Shareholder. All persons extending credit to, contracting with or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Portfolio or, until the Trustees shall have established any separate Portfolio, of the Trust for payment under such credit, contract or claim; and neither the Shareholders, the Trustees, nor the Trust's officers nor any of the agents of the Trustees whether past, present or future, shall be personally liable therefor. It is intended that the Trust, or each Portfolio if there is more than one Portfolio, be classified for income tax purposes as an association taxable as a corporation, and the Trustees shall do all things that they, in their sole discretion, determine are necessary to achieve that objective, including (if they so determine), electing such classifications on Internal Revenue Form 8832. The Trustees, in their sole discretion and without the vote or consent of the Shareholders, may amend this Agreement to ensure that this objective is achieved.

  • Trust Not a Partnership This Declaration creates a trust and not a partnership. No Trustee shall have any power to bind personally either the Trust's officers or any Shareholder.

  • No Recourse Against Trust Account The Purchaser agrees not to seek recourse against the Trust Account for any reason whatsoever in connection with its purchase of the Units or any Claim that may arise now or in the future.

  • Name of Trust It is understood that the name "Calamos", and any logo associated with that name, is the valuable property of Calamos Asset Management, Inc., and that the Trust has the right to include "Calamos" as a part of its name or the name of any Fund only so long as this Agreement shall continue. Upon termination of this Agreement the Trust shall forthwith cease to use the "Calamos" name and logo and shall take such action as is necessary to change the name of any Fund and to amend its Declaration of Trust to change the Trust's name.

  • Anti-Trust The MA Dual SNP hereby certifies to HHSC that neither the MA Dual SNP, nor the person represented by the MA Dual SNP, nor any person acting for the represented person, has been found by a judgment of a court of law to have violated the anti-trust laws codified by Chapter 15, Texas Business and Commerce Code, or the federal anti-trust laws.