Opening and Purpose of the Trust Sample Clauses

Opening and Purpose of the Trust. At least sixty (60) days before Atlantic Richfield is required under Section IV.C.7.a of this Agreement to make an initial deposit of Interim Combined AMD Treatment Costs (as defined in Section IV.C.5.b), the State Trustee (as defined in Section I.R) shall establish and accept trusteeship for the Leviathan Mine Environmental Remediation Trust (the “Trust”) for the purpose of managing monies owed and deposited by Atlantic Richfield under this Agreement and that are to be used for the payment of Response Costs in accordance with this Agreement. The Parties agree to cooperate in executing any documents or instruments that may be necessary to establish the Trust, designate beneficiaries, and instruct the State Trustee how to manage and disburse monies in accordance with this Agreement, applicable state law, and, if applicable, the Consent Decree. Such instructions shall include the terms described in Section III.A.2 and III.A.6 below or such other or additional terms as the Parties may mutually approve.
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