Common use of Creation and Use of Trust Account Clause in Contracts

Creation and Use of Trust Account. Within 15 Days following the Trust Effective Date, the Trustee shall establish a trust account (“Trust Account”), and file with the Court a designation and identification of Trust Account. The purpose of the Trust Account shall be to receive deposits from the Settling Defendants, to receive income gains from any investment of Trust Assets (collectively, “Trust Funds”), and to make disbursements to fund Eligible Mitigation Actions and pay Trust Administration Costs, all in accordance with the Consent Decree and this Trust Agreement. Unless otherwise agreed by the parties to the Consent Decree (“Consent Decree Parties”), the Trust Account shall be the only account that may be used for these purposes.