Common use of Maintenance of Minimum Balance Clause in Contracts

Maintenance of Minimum Balance. The Trustee agrees to provide monthly reports to Grantor and the Beneficiaries’ Representative showing the current fair market value of the Trust Fund. If any such report shows that the current fair market value of the Trust Fund is less than the Minimum Balance, then within ten (10) days after such report, Grantor agrees to deliver cash funds to the Trustee equal to the difference between the fair market value of the Trust Fund and the Minimum Balance so that the Trust balance is at least equal to the Minimum Balance. Notwithstanding the foregoing, Grantor shall have no obligation to make payments to the Trustee in excess of $400,000,000 (including the Minimum Balance at the Effective Date and the additional funds contributed following execution of this Agreement) under or with respect to this Agreement.

Appears in 2 contracts

Samples: Indemnification Agreement (Microsoft Corp), Directors’ Indemnification Trust Agreement (Microsoft Corp)

AutoNDA by SimpleDocs

Maintenance of Minimum Balance. The Trustee agrees to provide monthly reports to Grantor and the Beneficiaries' Representative showing the current fair market value of the Trust Fund. If any such report shows that the current fair market value Value of the Trust Fund is less than the Minimum Balance, then within ten (10) days after such report, Grantor agrees to deliver cash funds to the Trustee equal to the difference between the fair market value of the Trust Fund and the Minimum Balance so that the Trust thrust fund balance is at least equal to the Minimum Balance. Notwithstanding the foregoing, Grantor shall have no obligation to make payments to the Trustee in excess of $400,000,000 (including 100,000,000 over the Minimum Balance at the Effective Date and the additional funds contributed following execution term of this Agreement) under or with respect to this Trust Agreement.

Appears in 1 contract

Samples: Trust Agreement (Microsoft Corp)

AutoNDA by SimpleDocs

Maintenance of Minimum Balance. The Trustee agrees to provide monthly reports to Grantor and the Beneficiaries’ Representative showing the current fair market value of the Trust Fund. If any such report shows that the current fair market value of the Trust Fund is less than the Minimum Balance, then within ten (10) days after such report, Grantor agrees to deliver cash funds to the Trustee equal to the difference between the fair market value of the Trust Fund and the Minimum Balance so that the Trust balance is at least equal to the Minimum Balance. Notwithstanding the foregoing, Grantor shall have no obligation to make payments to the Trustee in excess of $400,000,000 (including the Minimum Balance at the Effective Date execution of this Agreement and the additional funds contributed following execution of this Agreement) under or with respect to this Agreement.

Appears in 1 contract

Samples: 2003 Indemnification Trust Agreement (Microsoft Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.