Distributions From Trust Fund Sample Clauses

Distributions From Trust Fund. The Trustee shall make payments (including the payment of Trust expenses) and other disbursements from the Trust Fund only upon the express written instructions of the Representative or as expressly authorized by the terms of this Agreement. Such payments may be made either directly to the person or persons specified in such written instructions, or deposited in a checking account maintained on behalf of the Trust Fund for the purpose of making payments or disbursements in accordance with the provisions of the Plans.
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Distributions From Trust Fund. (a) Except as set forth in Section 3.6(c), Section 3.6(d), Section 9.2 and Article X hereof, distributions from the Trust Fund shall be made by the Trustee to the Participants and Beneficiaries at the times and in the amounts set forth in the Plans and, to the maximum extent permitted by applicable law, the Trustee shall be fully protected in so doing. Any amounts so paid shall be reduced by the amount of any federal, state, or local income or other taxes that may be required by law to be withheld or paid by the Trustee and the Trustee shall pay such amounts to the appropriate governmental authorities; provided, however, that the Employer, the Administrator, the Participants, and the Beneficiaries shall provide the Trustee with all of the information necessary for the Trustee to determine the amount of such taxes required to be withheld or paid by the Trustee and the Trustee shall be fully protected in relying upon such information. Notwithstanding any provision of this Trust Agreement to the contrary, the Employer shall be obligated to pay the Benefits. To the extent that the Trust Fund is not sufficient to pay any Benefit when due, the Employer shall pay such Benefit directly. In the event Benefits are due to more than one Participant or Beneficiary on the same date and the Trust Fund is not sufficient to pay all such Benefits, the Trust Fund shall be applied pro rata among such Participants and Beneficiaries on the basis of the Benefits due to be paid such individuals on such date. Nothing in this Trust Agreement shall relieve the Employer of its liabilities to pay Benefits except to the extent such liabilities are met by application of Trust Fund assets.
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Distributions From Trust Fund. The Trustee shall make distributions to a Beneficiary from the Trust Fund only upon demand of the Beneficiaries' Representative. Each such demand shall be submitted to the Trustee, in writing, signed by the Beneficiaries' Representative, and shall state (i) that such demand is being made pursuant to an indemnification agreement between Grantor and the Beneficiary, (ii) that the demand is for satisfaction of indemnification obligations and the amount being demanded by a Beneficiary, (iii) that, pursuant to the Indemnification agreement, the Beneficiary has certified that he or she is entitled to payment of at least the amount demanded, (iv) that the Beneficiary has previously made demand for payment upon Grantor, and (v) that no part of the amount then being demanded from the Trust Fund has been previously received from the Grantor. A copy of each demand shall be delivered to Grantor by the Trustee. As soon as practicable after such demand is made by the Beneficiaries' Representative, subject to the provisions of Section 1.5, the Trustee shall distribute funds to the Beneficiary specified in such demand in the amount and manner set forth therein. If the Trustee does not have sufficient funds to satisfy all pending demands of Beneficiaries in full, the Trustee shall make all reasonable efforts to make pro rata payments, less any amounts due the Trustee, to the Beneficiaries as specified by the Beneficiaries' Representative. Upon the replenishment of the Trust Fund, in accordance with Section 2.3, the Trustee shall continue to make pro rata distributions, less any amounts due the Trustee, until such demand is satisfied or to satisfy subsequent demands.
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Distributions From Trust Fund. 17 5.1 Distributions from the Trust........................17 5.2 Determination of Taxability (or ERISA Application)..18 5.3
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Distributions From Trust Fund. 5.1 Distributions from the Trust. (a) Except to the limited extent provided in Article IV, in this Article V and in Section 7.2, all distributions from the Trust shall be used to fund Company Obligations. The Company shall from time to time direct the Trustee to
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Distributions From Trust Fund. The Trustee shall make distributions from the Trust Fund at such time or times and to such person or persons, including the Trustee as provided under Section 5.2, (i) as the Company shall direct (whether expressly as to any Creditor or pursuant to a payment schedule delivered to the Trustee by the Company) or (ii) as is expressly provided elsewhere in this Agreement. The Trustee shall be entitled (i) to assume that any condition with respect to payment of any benefit shall have been satisfied by the intended recipient thereof or (ii) to rely on the written statement of an intended recipient that all conditions or events required to be satisfied or to have occurred prior to commencement of payment have been satisfied or have occurred. The Trustee shall also make distributions in accordance with any order of a court of competent jurisdiction issued in conjunction with a 65 successful challenge by a person having an interest in the Trust Fund made in accordance with the applicable provisions of any Plan. Section 3.6.
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Distributions From Trust Fund 
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Related to Distributions From Trust Fund

  • Distributions from the Certificate Account (a) On each Distribution Date, the Trustee (or the Paying Agent on behalf of the Trustee) shall withdraw from the Certificate Account, the Available Distribution Amount (other than the Class E Distributable Amount and the Class P Distributable Amount) with respect to each Mortgage Pool, and shall distribute such amount to the Holders of record of each Class of Certificates or Components, in the following order of priority:

  • Certificate Distribution Account The Certificate Distribution Account shall be established as a non-interest bearing trust account pursuant to Section 4.1 of the Sale and Servicing Agreement. Funds on deposit in the Certificate Distribution Account shall be held uninvested. The Certificateholders shall possess all beneficial right, title and interest in and to all funds on deposit from time to time in the Certificate Distribution Account and all proceeds thereof. Except as otherwise provided herein, in the Indenture or in the Sale and Servicing Agreement, the Certificate Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Account, the Servicer on behalf of the Issuer, shall, within ten (10) Business Days (or such longer period) after becoming aware of the fact, establish a new Certificate Distribution Account as an Eligible Account and shall direct the Certificate Paying Agent to transfer any cash then on deposit in the Certificate Distribution Account to such new Certificate Distribution Account.

  • Permitted Withdrawals from the Certificate Account (a) The Master Servicer may, from time to time, make withdrawals from the Certificate Account for the following purposes (limited, in the case of Servicer reimbursements, to cases where funds in the respective Custodial P&I Account are not sufficient therefor):

  • Permitted Withdrawals from the Certificate Account and the Distribution Account (a) The Master Servicer may (and, in the case of clause (ix) below, shall) from time to time make withdrawals from the Certificate Account for the following purposes but only to the extent of amounts related to the Combined Mortgage Loans or the Group 5 Mortgage Loans, as applicable to the particular withdrawal:

  • Custodial Accounts; Distribution Account (a) On or prior to the Closing Date, the Master Servicer shall have caused each Servicer to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements.

  • Limited Distributions of Income from Trust Account (a) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested by the Company to cover any income or other tax obligation owed by the Company.

  • Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of the Master Servicer, the Trustee or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to the Servicing Agreements. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error.

  • Collection of Mortgage Loan Payments; Certificate Account; Distribution Account (a) The Master Servicer shall make reasonable efforts in accordance with the customary and usual standards of practice of prudent mortgage servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Required Insurance Policy. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any late payment charge or any prepayment charge or penalty interest in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Mortgage Note for a period not greater than 180 days; provided, however, that the Master Servicer cannot extend the maturity of any such Mortgage Loan past the date on which the final payment is due on the latest maturing Mortgage Loan as of the Cut-off Date. In the event of any such arrangement, the Master Servicer shall make Advances on the related Mortgage Loan in accordance with the provisions of Section 4.1 during the scheduled period in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements. The Master Servicer shall not be required to institute or join in litigation with respect to collection of any payment (whether under a Mortgage, Mortgage Note or otherwise or against any public or governmental authority with respect to a taking or condemnation) if it reasonably believes that enforcing the provision of the Mortgage or other instrument pursuant to which such payment is required is prohibited by applicable law.

  • Trust Accounts Distributions Statements to Noteholders SECTION 5.1.

  • Trust Funds The Owner hereby gives power to the Agent to deposit all receipts collected for the Owner, less any sums properly deducted or disbursed, in a financial institution whose deposits are insured by an agency of the United States government. The funds shall be held in a trust account separate from the Agent’s personal accounts. The Agent shall not be liable in the event of a bankruptcy or failure of a financial institution. All funds managed under this section must be done so in accordance with applicable law.

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