Trust Powers Sample Clauses
The 'Trust Powers' clause defines the specific authorities and abilities granted to the trustee in managing the trust's assets and affairs. Typically, this clause outlines actions the trustee may take, such as investing trust property, distributing income or principal to beneficiaries, or selling trust assets. By clearly enumerating these powers, the clause ensures the trustee can effectively administer the trust and adapt to changing circumstances, while also providing beneficiaries and other interested parties with clarity about the trustee's legal authority.
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Trust Powers. (a) Pursuant to the Confirmation Order and subject to the limitations set forth in this Trust Agreement and the provisions of the Trustee Plan Documents, the Trustee shall have all powers authorized by law to take any and all actions as directed in a Trustee Direction that are necessary or advisable to effectuate the purposes of the Trust, including, without limitation, each power expressly granted in this Section 5.05 as follows and any powers reasonably incidental thereto:
(i) to receive cash and other additions to the Trust from any source and to hold, administer, and distribute such additions as part of the Trust;
(ii) to invest and reinvest the funds of the Trust as provided in this Trust Agreement in accordance with a Trustee Direction;
(iii) to rely upon any affidavit, certificate, letter, notice, telegram, or other paper, or upon any telephone conversation or other oral communication reasonably believed by the Trustee to be genuine and sufficient and upon any other evidence reasonably believed by the Trustee to be genuine;
(iv) pursuant to a Trustee Direction, to institute any action or proceeding at law or in equity in the District Court for the collection of the sums due the Trust, or otherwise to advance the interests of the Trust in a manner not inconsistent with the terms of the Plan, prosecute any such action or proceeding to judgment or final decree, enforce any such judgment or final decree, and collect in any manner provided by law the monies adjudged or decreed to be payable, provided that, regardless of any deficiency in the Trust or any other reason, the Trust may not institute or join any action or proceeding at law or in equity against any Released Parties concerning any right or claim that has been released under the terms of the Plan and/or prosecute any such action or proceeding for judgment or final decree or collect in the manner provided by law the monies adjudged or decreed to be payable; and
(v) to do all other acts and things not inconsistent with the provisions of the Trustee Plan Documents, the Litigation Facility Agreement, and the Plan, that the Finance Committee may direct in a Trustee Direction as reasonably necessary to perform the express duties, functions and obligations of the Trustee specified herein, in the same manner and to the same extent as individuals might or could do with respect to their own property, subject to the limitations of applicable law governing the conduct of fiduciaries.
(b) After the Effective...
Trust Powers. The Trustees shall have such powers as may be necessary to discharge their responsibilities in managing and controlling the Trust. The Trustees shall have full and complete authority and control over the Trust unless such authority or control is allocated or delegated by the Trustees in accordance with the procedures set forth in section 7.2(b) or (c), or elsewhere herein. Any determination made by the Trustees in the exercise of these powers shall be binding on all persons. In addition to such powers as are conferred by law or as set forth elsewhere in this Agreement, the powers of the Trustees in connection with their managing and controlling the Trust shall include, but shall not be limited to, those listed in this section 6.4, except that the Trustees shall exercise any power in a manner which is consistent with the applicable provisions of Colorado Revised Statutes. The Association, Board and the Trustees recognize that not all of the investments listed in this section 6.4 are permissible under Colorado Revised Statutes section 24-75-601.1 as in effect on the date the Agreement is signed:
(a) To invest and reinvest all or part of the principal and income of the Trust, without distinction between principal and income as the Trustees determine, in such securities or in such property, real or personal, or share or part thereof or part interest therein, wherever situated, as the Trustees shall deem advisable, including but not limited to, governmental, corporate or personal obligations, shares of stock, common or preferred, whether or not listed on any exchange, participations in partnerships, mutual investment funds, bonds and mortgages, and other evidences of indebtedness or ownership, including stocks, bonds or other obligations secured by personal property, participations in any common trust fund exempt under section 584 of the Internal Revenue Code established or maintained for the collective investment of fiduciary funds. If required, prior to investing in a common or group trust fund the Trustees and the entity or organization maintaining the trust fund shall execute an agreement providing that during the time that any part or all of the Trust is held in such trust fund the declarations of trust creating the trust fund shall be part of this Agreement; provided that said declarations of trust comply with the Rules and Regulations of the Comptroller of the Currency, if necessary, and the laws of any state having jurisdiction thereover and have, where...
Trust Powers. At the Merger Effective Date, the Bank will not exercise trust powers.
Trust Powers. Bank does not presently maintain trust or exercise trust powers, nor does any other Subsidiary of Company.
Trust Powers. The Bank, as the Surviving Corporation, will have trust powers. Currently, the Bank's trust powers are inactive with the Department, subject to activation upon the filing of an appropriate application and notice therefor.
Trust Powers. 31 4.32. Disclosure Documents and Applications.............................31 4.33. Intellectual Property.............................................31 4.34. State Takeover Laws; Company Rights Plan..........................31 4.35.
Trust Powers. Hampshire Bank does not exercise trust powers or act as a fiduciary, trustee, agent, custodian, personal representative, guardian, conservator or investment advisor with respect to assets held other than acting as a trustee or custodian with respect to ▇▇▇ accounts related to insured deposits or as trustee or custodian for other insured deposits held.
Trust Powers. As of the Effective Time all right, duties and obligations provided under and pursuant to the Certificate and Order shall be transferred to and vest in the Resulting Bank without any deed or other transfer. Upon such transfer, the trust department of CIB shall become the trust department of the Resulting Bank and the Resulting Bank shall hold and enjoy the same and all rights of property, franchises and interests, including, to the extent permissible, all appointments, designations and nominations and all other rights and interests as trustee; executor, administrator, guardian, assignee, receiver and in every other fiduciary capacity, in the same manner and to the same extent as was held and enjoyed by CIB through its trust department and the powers conferred upon it by virtue of the Certificate and Order as if the Certificate and Order were issued to the Resulting Bank.
Trust Powers. 5.1.1 Pursuant to the Confirmation Order, subject to the limitations set forth in this Agreement, and subject to the provisions and limitations of the Plan and the TDA, all of which are incorporated herein, the Trustees shall have the power to take any and all actions as, in the sole judgment and discretion of the Trustees, are necessary or advisable to effectuate the purposes of the Plan Trust, including without limitation, each power expressly granted in Section 5.1.3 of this Agreement and any power reasonably incidental thereto, and any trust power now or hereafter permitted under the laws of the State of Washington that is not inconsistent with the provisions of this Agreement or the Plan.
5.1.2 Except as expressly provided in the Plan or in this Agreement, the Trustees may, but need not, obtain the order or approval of the Court, or any other court in the exercise of any power or discretion conferred hereunder.
Trust Powers. The Escrow Agent hereby represents to the Company that the Escrow Agent has all necessary trust powers and authority to act as escrow agent as set forth in this Agreement.