The Tennessee Trust Indenture and Agreement between John Naveen and Co., Inc. and Chase Manhattan Bank is a legal document that outlines the terms and conditions for the Naveen Tax-Free Unit Trust, Series 1140. This trust is designed to provide investors with tax-free income from a diversified portfolio of municipal bonds issued within the state of Tennessee. The agreement ensures that the trust operates in compliance with applicable laws and regulations, and it provides a framework for the relationship between John Naveen and Co., Inc. (as the sponsor of the trust) and Chase Manhattan Bank (as the trustee). The document covers various aspects of the trust, including its establishment, administration, and termination. Some key terms and conditions addressed in the Tennessee Trust Indenture and Agreement may include: 1. Trust Purpose: The agreement defines the objectives and purpose of the Naveen Tax-Free Unit Trust, Series 1140, which is to generate tax-free income for the beneficiaries by investing in Tennessee municipal bonds. 2. Trustee's Role and Responsibilities: It outlines the duties and responsibilities of Chase Manhattan Bank as the trustee, which may include receiving and holding assets, making investment decisions, and distributing income to the beneficiaries. 3. Sponsor's Role and Responsibilities: The agreement specifies the responsibilities of John Naveen and Co., Inc. as the sponsor of the trust, such as providing investment advisory services, managing the portfolio of municipal bonds, and ensuring compliance with legal and regulatory requirements. 4. Investment Guidelines: The agreement may outline the investment objectives, strategies, and restrictions for the trust, including guidelines for asset allocation, credit quality, and maturity of the municipal bonds. 5. Income Distribution: It describes how income generated by the trust will be distributed to the beneficiaries, which may include regular distributions and potentially special distributions in certain circumstances. 6. Termination and Liquidation: The agreement includes provisions for the termination and liquidation of the trust, outlining the process for distributing the remaining assets to the beneficiaries. It's important to note that the provided content describes a hypothetical Tennessee Trust Indenture and Agreement between John Naveen and Co., Inc. and Chase Manhattan Bank for the Naveen Tax-Free Unit Trust, Series 1140. The specific terms and conditions may vary depending on the actual document drafted for this purpose.
Tennessee 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
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