jointly with any other person, as trustee or custodian trustee ofanytrustdeed, settlement, covenant, agreement, will or other instrument (whether originally so appointed or not, and whether appointed under hand or seal, or by order of any court or otherwise), or as executor of the will, or...
Unlike a revocable trust, the terms of an irrevocable trust cannot change after the parties reach an agreement. Once the trustor and trustee sign the agreement, everything is sealed in stone. However, there are a few exceptions to this permanency. You can’t take assets back from the trustee...
An irrevocableletter of creditcannot be canceled, nor in any way modified, except with the explicit agreement of all parties involved: the buyer, the seller, and the issuing bank. For example, the issuing bank does not have the authority by itself to change any of the terms of an ILOC on...
Voting Trust Agreementmeans the Voting Trust Agreement entered into --- as of April 15, 1996 by and among Xxxxxx X. Xxxx; Xxxxx X. Xxxx, Xx.; Xxxxx X. Xxxx, Xx.; and F. Xxxxxx Xxxxxxx as the Voting Trustees and the stockholders of LSAI Holding Corp. who are parties thereto....
Understanding Irrevocable Income-Only Trust (IIOT) The trust agreement should describe the trust name, trust property, appointment oftrustee, appointment of trust protector, power over trust property, when beneficiaries may appoint a successor trust protector, fees and expenses due to the trust protect...
The proxy holder has advanced some form of credit to the company. How Irrevocable Proxies Work Irrevocable proxies are based on the same ideology as revocable proxies. Both types of proxies are based on an agent-principal agreement where the principal gives the agent the power to act on their...
Concurrently with the execution and delivery of this Agreement, each Stockholder agrees to deliver to the Company a duly executed Irrevocable Proxy and Power Of Attorney substantially in the form attached hereto as Exhibit A (the "Proxy"), which shall be irrevocable during the term of this ...
An irrevocableletter of creditis a guarantee from a bank, issued in the form of a letter. It creates an agreement where the buyer's bank agrees to pay the seller as soon as certain conditions of the transaction are met. These letters help eliminate concerns that unknown buyers won't pay ...
Once the application form is completed, it needs to be submitted to Bank of America along with any supporting documentation required. This documentation may include a pro forma invoice, purchase agreement, shipping documents, and other relevant trade-related documents. ...
A trust beneficiary's interest is an equitable property interest. It can be a present interest or a future interest, and, whether vested or contingent, the interest is property. Even a contingent equitable remainder-in-corpus incident to an ongoing irrevocable trust is infinitely more substantive ...