Creation of Trust Agreement Sample Clauses

Creation of Trust Agreement. The parties have agreed to establish a Health and Welfare Fund under an Agreement and Declaration of Trust drafted by the Employer and executed by the Union and the Employer. Such Agreement and Declaration of Trust (hereinafter referred to as the "trust agreement") provides for a Board of Trustees composed of an equal number of representatives of the Employer and the Union. The Board of Trustees of the Health and Welfare Fund shall determine in their discretion and within the terms of this Agreement and the Agreement and Declaration of Trust such health and welfare benefits to be extended by the Health and Welfare Fund to employees and/or their dependents.
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Creation of Trust Agreement. The parties have agreed to establish a Health and Welfare Fund under an Agreement and Declaration of Trust executed by XXXXX and the Employer. Such Agreement and Declaration of Trust provides for a Board of Trustees composed of an equal number of representatives of the Employer and XXXXX. The Board of Trustees of the Health and Welfare Fund shall determine in their discretion and within the terms of this Agreement and the Agreement and Declaration of Trust such health and welfare benefits to be extended by the Health and Welfare Fund to employees and/or their dependents.
Sample 1
Creation of Trust Agreement. The parties Commonwealth of Massachusetts and Alliance/AFSCME-SEIU have agreed to established a Health and Welfare Fund under an Agreement and Declaration of Trust drafted dated ___. by the Employer and executed by the Union and the Employer. Such Agreement and Declaration of Trust (hereinafter referred to as the "trust agreement") provides for a Board of Trustees composed of an equal number of representatives of the Employer and the Union. The Board of Trustees of the Health and Welfare Fund shall determine in their discretion and within the terms of this Agreement and the Agreement and Declaration of Trust such health and welfare benefits to be extended by the Health and Welfare Fund to employees and/or their dependents.which provides certain health and welfare benefits to employees of the Commonwealth and their dependents. MassDOT and the Union agree that to the extent permitted by the Trust, bargaining unit employees shall be provided benefits under the Trust. The parties agree that the Board of Trustees of the Health and Welfare Fund shall determine in their discretion and within the terms of the Trust such health and welfare benefits to be extended by the Health and Welfare Fund to employees and/or their dependents. The Employer shall not be required to maintain the existing level of dental insurance benefits and pay schedule provided to any former employee of the Massachusetts Turnpike Authority or Massachusetts Port Authority pursuant to the Master Labor Integration Agreement who leaves the bargaining unit to which they were assigned as of November 1, 2009.
Sample 1
Creation of Trust Agreement. The parties agree to establish a Health and Welfare Fund under an Agreement and Declaration of Trust to be drafted by the parties and executed by the Association and the Employer. Such Agreement and Declaration of Trust (hereinafter r eferred to as the "Trust Agreement") shall provide for a Board of Trustees composed of an equal number of representatives of the Employer and the Association, and shall be executed prior to March 1, 1985.
Sample 1

Related to Creation of Trust Agreement

  • Termination of Trust Agreement Section 9.01.

  • Declaration of Trust The Owner Trustee hereby declares that it will hold the Owner Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Certificateholders, subject to the obligations of the Trust under the Basic Documents. It is the intention of the parties hereto that the Trust constitute a statutory trust under the Statutory Trust Act and that this Agreement constitute the governing instrument of such statutory trust. The Trust is not intended to be a business trust within the meaning of Section 101(9)(A)(v) of the Bankruptcy Code. It is also the intention of the parties hereto that, solely for Federal, state and local income and franchise tax purposes, on and after the Closing Date, (a) so long as the Trust has only one Certificateholder, the Trust shall be disregarded as a separate entity and (b) at such time as the Trust has more than one Certificateholder, the Trust will be treated as a partnership, with the assets of the partnership being the Receivables and other assets held by the Trust, the partners of the partnership being the Certificateholders, and the Notes being non-recourse debt of the partnership. The Depositor (and any future Certificateholder by the purchase of the Trust Certificate will be deemed to have agreed) and the Owner Trustee agree to take no action inconsistent with such tax treatment. The Trust shall not elect to be treated as an association under Treasury Regulations Section 301.7701-3(a). The parties agree that, unless otherwise required by appropriate tax authorities, the sole Certificateholder or the Trust, as applicable, will file or cause to be filed annual or other necessary returns, reports and other forms consistent with the foregoing characterization of the Trust for such tax purposes. Effective as of the date hereof, the Owner Trustee, shall have all rights, powers and duties set forth herein and, to the extent not inconsistent herewith, in the Statutory Trust Act with respect to accomplishing the purposes of the Trust. Any action taken on behalf of the Trust prior to the date hereof with respect to the filing of financing statements, the Certificate of Trust, a qualification to do business in the State of Alabama or any other similar qualification or license in any other state or jurisdiction, if applicable, is hereby ratified.

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