信托的

In his stead Mr. Wu Wing Shu of Sky Rainbow Investment Ltd. has agreed with Mr. Kang to purchase or cause his affiliate to purchase up to $8 million of CHM common stock in the open market at market prices not to exceed the per share amount held in the trust account.

在他而起的吴先生永树的天空彩虹投资有限公司已同意与姜某购买或造成他的子公司购买最多800万美元的资料交换所机制的普通股股票在公开市场上按市场价格不超过每股金额举行的信托户口。

On the base of discussing the legal attributes of the beneficiary's cancellation, using for reference about the legislation experiences of England, America, Japan, Taiwan and so on, analyzing the shortages of the beneficiary's cancellation right in our trust law, and bringing forward some modification advices about the clause 2, clause 22, and clause 49 in our present trust law, in order to protect the beneficiary's benefits well and promote the trust industry's vigorous development in our country.

在探讨受益人撤销权的法律属性的基础上，借鉴英国、美国、日本、台湾等几个主要国家和地区关于受益人撤销权制度的立法经验，分析我国信托法中对受益人撤销权制度规定的不足，并提出对现行信托法第2条、第22条、第49条的修改建议，以期能更好的保护信托受益人的受益权，促进我国信托业的蓬勃发展。

The first one is the judgment for trend at determinacy aspect.

正是出于这种考虑，本章将对信托产品创新制度环境变迁的研判分为两个层面：一是确定性层面上的趋势研判，其确定性的依据主要是逻辑上的推理；二是不确定性层面上的进程研判，其不确定的根源在于实践中情势的难以把握。

Then analyzes and makes reviews on different operating model from two angles in reality, and points out that entrust model and MBO FUDs are most practicable because of predominance and function. In the last part , after making a deep research on pricing and financing environment, aiming at characteristics of enterprises of our country set up a pricing-model on MBOs target firms, and innovative models of financing.

首先对国企MBO的意义和可行性作了分析；继而从收购主体和收购方式两个不同的角度对现有国企MBO的模式进行了总结和分析；接着提出信托方式和MBO基金以其特有的优势和功能，在现有融资、法制环境下是可操作的模式；最后对现在国有股转让价格提出质疑，并构建了一个定价模型。

As the response of law Research to the demand from commerce, this article firstly defined and classified all sorts of financing products ,according to the right of the holders as 'creditor' or 'cestui quo trust', and then confirmed the possibility and the rationality of pledging two rights through legal analysis.

作为法律对商业要求的回应，本文首先根据产品持有人享有的权利对各类银行理财产品进行了法律上的定性，明确理财产品所包含的&普通债权&和&信托受益权&。其次通过法理分析确立了两类权利质押的可能性和合理性。

Moreover,it puts forward model options for SPV:first,make good use of the accountability of state-owned enterprises,exert the superiority of socialism and undertake the function of SPV by four asset management corporations;second,based on Trust Law,securitize by the model of constructing SPV.

提出我国资产证券化结构中SPV的模式选择：第一，利用国有公司的公信力，发挥社会主义的优越性，以四大资产管理公司承担公司型SPV的职能。第二，依据现行《信托法》，以信托机制构建SPV的模式进行资产证券化。

How much better it is for the "painter" of a business Rembrandt to personally select its permanent home than to have a trust officer or uninterested heirs auction it off. Throughout the years we have had great experiences with those who recognize that truth and apply it to their business creations. We'll leave the auctions to others.

就像是林布兰画作一样珍贵的公司，与其让信托人或不肖的子孙把它拍卖掉，还不如由画家本身选择其最后的归宿，这几年来我们与有这样认知的人士有过非常多愉快的经验，并让这些感觉一直延续到这些企业上，至于拍卖这玩意儿，就留给别人去用吧。

How much better it is for the "painter" of a business Rembrandt to personally select its permanent home than to have a trust officer or uninterested heirs auction it off. Throughout the years we have had great experiences with those who recognize that truth and apply it to their business creations. We'll leave the auctions to others.

就像是林布兰画作一样珍贵的公司，与其让信托人或不肖的子孙把它拍卖掉，还不如由画家本身选择其最后的归宿，这几年来我们与有这样认知的人士有过非常多愉快的经验，并让这些感觉一直延续到这些企业上，至於拍卖这玩意儿，就留给别人去用吧。

In the event that the trustee shall not exercise such option to purchase the subscribers interest, and only in that event, the holder of such trust certificate shall have the right to sell the same to such person and for such price as he or she sees fit.

如果董事没有行使购买签署者利益的权利，而且只有在那种情况下，信托证书的持有者应当有权以他认为适合的价格出售同样的份额给那些他认为适合的人

Just over a decade later in 1928, The Economist , writing of Swedish Match, noted:"It is curious that of the great international trusts in the industrial world there is none more firmly established than the colossus that has been built on matchsticks."

恰好在10年之后的1928年，《经济学家》在写到瑞典火柴时，指出&在工业化的世界里，所有大型的国际信托机构竟然都比不上建立在火柴的庞大信心，这真是一件奇怪的事情。&

What are your goals and strategies for growth?

你的成长目标和策略是什么？

And unto the angel of the church in Sardis write; These things saith he that hath the seven irits of God, and the seven star I know thy works, that thou hast a name that thou livest, and art dead.

3：1 你要写信给撒狄教会的使者，说，那有神的七灵和七星的，说，我知道你的行为，按名你是活的，其实是死的。