Common use of Second Trust Fund Clause in Contracts

Second Trust Fund. If the Employer so elects, and the Trust Company consents, the Employer may appoint a second trustee under the Plan with respect to assets which the Employer desires to contribute or have transferred to the Trust Company, as Trustee, but which the Trust Company does not choose to accept. The appointment of a second trustee shall be deemed a representation by the Employer that the Plan contains all appropriate provisions relating to the second trustee. In the event and upon the effectiveness of the acceptance of the second trustee's appointment, the Employer shall be deemed to have created two trust funds under the Plan each governed separately by this Trust Agreement except that with respect to the second trust, this Trust Agreement shall apply as if the second trustee were referred to by name in the introductory paragraph and in Section 1.02 hereof. Each Trustee under such an arrangement shall, however, discharge its duties and responsibilities solely with respect to those assets of the Trust delivered into its possession and, except pursuant to the Employer Retirement Income Security Act of 1974, as amended from time to time ("ERISA"), shall have no duties, responsibilities or obligations with respect to property of the other Trust nor any liability for the acts or omissions of the other Trustee. As a condition to its consent to the appointment of a second trustee, the Trust Company shall assure that recordkeeping, distribution and reporting procedures are established on a coordinated basis between it and the second trustee as the Trust Company considers necessary or appropriate with respect to the Trust.

Second Trust Fund. If the Employer so elects, and the Trust Company consents, the Employer may appoint a second trustee under the Plan with respect to assets which the Employer desires to contribute or have transferred to the Trust Company, as Company Trustee, but which the Trust Company does not choose to accept. The appointment of a second trustee shall be deemed a representation by the Employer that the Plan contains all appropriate provisions relating to the second trustee. In the event and upon the effectiveness of the acceptance of the second trustee's appointment, the Employer shall be deemed to have created two trust funds under the Plan each governed separately by this Trust Agreement except that with respect to the second trust, this Trust Agreement shall apply as if the second trustee were referred to by name in the introductory paragraph and in Section 1.02 hereof. Each Trustee under such an arrangement shall, however, discharge its duties and responsibilities solely with respect to those assets of the Trust delivered into its possession and, except pursuant to the Employer Employee Retirement Income Security Act of 1974, as amended from time to time ("ERISA"), shall have no duties, responsibilities or obligations with respect to property of the other Trust nor any liability for the acts or omissions of the other Trustee. As a condition to its consent to the appointment of a second trustee, the Trust Company shall assure that recordkeeping, distribution and reporting procedures are established on a coordinated basis for those assets over which the Trust Company acts as trustee, between it and the second trustee trustee, as the Trust Company considers necessary or appropriate with respect to the Trust. The second trustee will be responsible for its reporting and other obligations, independent of the Merrill Lynch Trust Company.

Second Trust Fund. If the Employer so elects, and the Trust Company consents, the Employer may appoint a second trustee under the Plan with respect to assets which the Employer desires to contribute or have transferred to the Trust Company, as Trustee, but which the Trust Company does not choose to accept. The appointment of a second trustee shall be deemed a representation by the Employer that the Plan contains all appropriate provisions relating to the second trustee. In the event and upon the effectiveness of the acceptance of the second trustee's appointment, the Employer shall be deemed to have created two trust funds under the Plan each governed separately by this Trust Agreement except that with respect to the second trust, this Trust Agreement shall apply as if the second trustee were referred to by name in the introductory paragraph and in Section 1.02 hereof. Each Trustee under such an arrangement shall, however, discharge its duties and responsibilities solely with respect to those assets of the Trust delivered into its possession and, except pursuant to the Employer Employee Retirement Income Security Act of 1974, as amended from time to time ("ERISA"), shall have no duties, responsibilities or obligations with respect to property of the other Trust nor any liability for the acts or omissions of the other Trustee. As a condition to its consent to the appointment of a second trustee, the Trust Company shall assure that recordkeeping, distribution and reporting procedures are established on a coordinated basis between it and the second trustee as the Trust Company considers necessary or appropriate with respect to the Trust.