North Carolina Trust Indenture and Agreement between John Nuveen and Co., Inc. and Chase Manhattan Bank regarding terms and conditions for Nuveen Tax Free Unit Trust, Series 1140

• Category: Corporations - Public - Agreements - Trusts
• State: Multi-State
• Control #: US-EG-9266
• Format: Word; Rich Text

Description

Trust Indenture and Agreement between John Nuveen and Company, Inc. and The Chase Manhattan Bank regarding terms and conditions of trust for Nuveen Tax Free Unit Trust, Series 1140 dated January 4, 2000. 5 pages. North Carolina Trust Indenture and Agreement between John Naveen and Co., Inc. and Chase Manhattan Bank is a legal document outlining the terms and conditions for the Naveen Tax Free Unit Trust, Series 1140. The agreement serves as an important contractual agreement between the issuer (John Naveen and Co., Inc.) and the trustee (Chase Manhattan Bank). Below, you will find a detailed description of the Naveen Tax Free Unit Trust, Series 1140, and the key provisions included in the trust indenture and agreement. The Naveen Tax Free Unit Trust, Series 1140, is designed to offer tax-exempt income to investors located in North Carolina. By investing in this trust, individuals can enjoy the benefits of tax-free municipal bond interest while supporting various infrastructure and development projects across the state. This particular trust indenture and agreement specifies the terms and conditions established for the Naveen Tax Free Unit Trust, Series 1140. It includes important information such as: 1. Parties Involved: The agreement begins by clearly identifying the parties involved, namely John Naveen and Co., Inc. (the issuer) and Chase Manhattan Bank (the trustee). This identification ensures their respective roles and responsibilities are acknowledged. 2. Trust Purpose and Investment Objectives: The indenture and agreement outline the purpose of the trust, which is to generate tax-free income through investments in municipal bonds specifically tailored to the needs and preferences of North Carolina investors. The investment objectives are detailed, highlighting the trust's commitment to long-term capital appreciation and income generation. 3. Trust Structure and Mechanics: This section describes the structure of the trust, including details about the creation, duration, and termination of the trust. It also outlines the mechanics of the trust's operation, such as the offering of units, reinvestment of income, and selection of investment securities. 4. Rights and Responsibilities: The trust indenture and agreement specify the rights and responsibilities of both parties. It details the obligations of the issuer, including providing accurate and timely information to the trustee and ensuring compliance with regulatory requirements. The trustee's responsibilities include safeguarding the interests of unit holders, monitoring the investment portfolio, and distributing income to investors. 5. Unit Holder Protections: The agreement includes provisions that protect the interests and rights of unit holders, such as limitations on the issuer's ability to amend or terminate the trust without unit holder approval. It also defines the remedies available to unit holders in case of a breach of the agreement. 6. Tax Treatment: Given the tax-exempt nature of the trust, the trust indenture and agreement provide detailed information on the tax consequences and treatment of income generated by the trust, including potential regulations and limitations imposed by North Carolina tax laws. Different types or series within the Naveen Tax Free Unit Trust may exist beyond Series 1140. The specific name and details of these series may vary but follow a similar structure outlined in the trust indenture and agreement. Each series represents a distinct investment opportunity, customized to meet different investment objectives and focusing on specific municipal bonds. In conclusion, the North Carolina Trust Indenture and Agreement between John Naveen and Co., Inc. and Chase Manhattan Bank for the Naveen Tax Free Unit Trust, Series 1140, establishes the legal framework governing the trust's operation. This detailed agreement ensures transparency, protects the rights of unit holders, and promotes compliance with applicable laws and regulations.

North Carolina Trust Indenture and Agreement between John Naveen and Co., Inc. and Chase Manhattan Bank is a legal document outlining the terms and conditions for the Naveen Tax Free Unit Trust, Series 1140. The agreement serves as an important contractual agreement between the issuer (John Naveen and Co., Inc.) and the trustee (Chase Manhattan Bank). Below, you will find a detailed description of the Naveen Tax Free Unit Trust, Series 1140, and the key provisions included in the trust indenture and agreement. The Naveen Tax Free Unit Trust, Series 1140, is designed to offer tax-exempt income to investors located in North Carolina. By investing in this trust, individuals can enjoy the benefits of tax-free municipal bond interest while supporting various infrastructure and development projects across the state. This particular trust indenture and agreement specifies the terms and conditions established for the Naveen Tax Free Unit Trust, Series 1140. It includes important information such as: 1. Parties Involved: The agreement begins by clearly identifying the parties involved, namely John Naveen and Co., Inc. (the issuer) and Chase Manhattan Bank (the trustee). This identification ensures their respective roles and responsibilities are acknowledged. 2. Trust Purpose and Investment Objectives: The indenture and agreement outline the purpose of the trust, which is to generate tax-free income through investments in municipal bonds specifically tailored to the needs and preferences of North Carolina investors. The investment objectives are detailed, highlighting the trust's commitment to long-term capital appreciation and income generation. 3. Trust Structure and Mechanics: This section describes the structure of the trust, including details about the creation, duration, and termination of the trust. It also outlines the mechanics of the trust's operation, such as the offering of units, reinvestment of income, and selection of investment securities. 4. Rights and Responsibilities: The trust indenture and agreement specify the rights and responsibilities of both parties. It details the obligations of the issuer, including providing accurate and timely information to the trustee and ensuring compliance with regulatory requirements. The trustee's responsibilities include safeguarding the interests of unit holders, monitoring the investment portfolio, and distributing income to investors. 5. Unit Holder Protections: The agreement includes provisions that protect the interests and rights of unit holders, such as limitations on the issuer's ability to amend or terminate the trust without unit holder approval. It also defines the remedies available to unit holders in case of a breach of the agreement. 6. Tax Treatment: Given the tax-exempt nature of the trust, the trust indenture and agreement provide detailed information on the tax consequences and treatment of income generated by the trust, including potential regulations and limitations imposed by North Carolina tax laws. Different types or series within the Naveen Tax Free Unit Trust may exist beyond Series 1140. The specific name and details of these series may vary but follow a similar structure outlined in the trust indenture and agreement. Each series represents a distinct investment opportunity, customized to meet different investment objectives and focusing on specific municipal bonds. In conclusion, the North Carolina Trust Indenture and Agreement between John Naveen and Co., Inc. and Chase Manhattan Bank for the Naveen Tax Free Unit Trust, Series 1140, establishes the legal framework governing the trust's operation. This detailed agreement ensures transparency, protects the rights of unit holders, and promotes compliance with applicable laws and regulations.