Common use of TRUSTEE OF A TRUST Clause in Contracts

TRUSTEE OF A TRUST. If the Recipient has entered into this Agreement in its capacity as trustee of a trust (in this clause, the Recipient Trust): 2.1.1 it is the only trustee of the Recipient Trust and it is not aware of any action to remove it as trustee of the Recipient Trust; 2.1.2 it has power under the deed constituting the Recipient Trust (in this clause, the Recipient Trust Deed) and has obtained all necessary approvals, consents and authorisations to enter into and perform its obligations under this Agreement; (a) it is not in default under the Recipient Trust Deed, the Recipient Trust has not been terminated and no vesting of the Recipient Trust’s property has occurred and it is not aware of any action proposed to terminate or vest the property of the Recipient Trust; (b) the Recipient Trust’s property has not been resettled, set aside or transferred to any other trust; (c) the entry into and the performance of its obligations under this Agreement is for the benefit of the beneficiaries of the Recipient Trust; and (d) it has a right to be indemnified fully out of the Recipient Trust's assets in respect of all of the obligations and liabilities incurred by it, or which may be incurred by it, under this Agreement and its lien over the Recipient Trust’s property retains its priority over the rights and interests of the Recipient Trust’s beneficiaries to the extent provided by any relevant law.

TRUSTEE OF A TRUST. If the Recipient has entered into this Agreement in its capacity as trustee of a trust (in this clause, the Recipient Trust): 2.1.1 APIDT: it is the only trustee of the Recipient Trust and it is not aware of any action to remove it as trustee of the Recipient Trust; 2.1.2 ; it has power under the deed constituting the Recipient Trust (in this clause, the Recipient Trust Deed) and has obtained all necessary approvals, consents and authorisations to enter into and perform its obligations under this Agreement; (a) ; it is not in default under the Recipient Trust Deed, the Recipient Trust has not been terminated and no vesting of the Recipient Trust’s property has occurred and it is not aware of any action proposed to terminate or vest the property of the Recipient Trust; (b) ; the Recipient Trust’s property has not been resettled, set aside or transferred to any other trust; (c) ; the entry into and the performance of its obligations under this Agreement is for the benefit of the beneficiaries of the Recipient Trust; and (d) and it has a right to be indemnified fully out of the Recipient Trust's assets in respect of all of the obligations and liabilities incurred by it, or which may be incurred by it, under this Agreement and its lien over the Recipient Trust’s property retains its priority over the rights and interests of the Recipient Trust’s beneficiaries to the extent provided by any relevant law. No petition has been presented, no order has been made and no resolution has been passed for the winding up of APIDT or for the appointment of a liquidator or provisional liquidator of APIDT. APIDT has not obtained, or taken any step to obtain, protection from its creditors under any applicable legislation or entered into, or proposed to enter into, any other arrangement with its creditors. APIDT's obligations under this Agreement are enforceable in accordance with its terms.