Common use of Trustees’ Identity Clause in Contracts

Trustees’ Identity. a) The Trustees of this Trust shall be ▇▇▇▇▇▇▇▇ McGillicutty and ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ or the survivor of them. If at any time there is only one trustee acting, such Trustee shall have the authority to appoint a Co-Trustee or a Trustee to succeed him/her, in the event of his/her death or resignation. The appointment shall be made by a duly acknowledged written instrument delivered to the successor or successors, or additional Trustee so designated. Any such designation may be revoked at any time prior to its delivery to the person designated. If the designating Trustee or Trustees shall die prior to the delivery of such instrument to the person designated, the executors or administrators of the deceased designating Trustee or Trustees may deliver such instrument. The next successor shall have the power to appoint his or he successor in the same manner. b) If a successor trustee fails to appoint a successor Trustee, then the next successor Trustee, then the next successor Trustee shall be a nonprofit organization that manages Trusts for the disabled. The Trustees named herein are empowered to employ a corporate fiduciary to assist with the management of this Trust. c) Any Trustee may resign by giving notice to take effect on the date specified in said notice. Resignations shall be embodied in a written, signed and acknowledge instrument delivered to (1) the Settlor, if living, 2) any beneficiary (or if the beneficiary is a minor, to his parent or guardian or to the person with whom he resides), or 3) any other acting Trustee. d) A successor or additional Trustee shall qualify by giving notice of acceptance of the trust. Such notice shall be embodied in a written, signed and acknowledged instrument delivered to any then acting Trustee, or if none, to 1) the Settlor, if living, or 2) any beneficiary (or if the beneficiary is a minor, to his parent or guardian or to the person with whom he resides).

Trustees’ Identity. a) The Trustees of this Trust shall be ▇▇▇▇▇ ▇▇▇▇▇ McGillicutty and ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇, or the survivor of them. If at any time there is only one trustee acting, such Trustee shall have the authority to appoint a Co-Trustee or a Trustee to succeed him/her, in the event of his/her death or resignation. The appointment shall be made by a duly acknowledged written instrument delivered to the successor or successors, or additional Trustee so designated. Any such designation may be revoked at any time prior to its delivery to the person designated. If the designating Trustee or Trustees shall die prior to the delivery of such instrument to the person designated, the executors or administrators of the deceased designating Trustee or Trustees may deliver such instrument. The next successor shall have the power to appoint his or he successor in the same manner. b) . If a successor trustee fails to appoint a successor Trustee, then the next successor Trustee, then the next successor Trustee shall be a nonprofit organization that manages Trusts for the disabled. The Trustees named herein are empowered to employ a corporate fiduciary to assist with the management of this Trust. c) . Any Trustee may resign by giving notice to take effect on the date specified in said notice. Resignations shall be embodied in a written, signed and acknowledge instrument delivered to (1) the Settlor, if living, 2) any beneficiary (or if the beneficiary is a minor, to his parent or guardian or to the person with whom he resides), or 3) any other acting Trustee. d) . A successor or additional Trustee shall qualify by giving notice of acceptance of the trust. Such notice shall be embodied in a written, signed and acknowledged instrument delivered to any then acting Trustee, or if none, to 1) the Settlor, if living, or 2) any beneficiary (or if the beneficiary is a minor, to his parent or guardian or to the person with whom he resides).