Common use of Settlement of Accounts Clause in Contracts

Settlement of Accounts. Notwithstanding any other ---------------------- provision of this Agreement, in the event of the termination of the Trust, or the resignation or discharge of the Trustee, the Trustee shall have the right to a settlement of its accounts, which accounting may be made, at the option of the Trustee, either (a) by a judicial settlement in a court of competent jurisdiction; or (b) by agreement of settlement, release and indemnity from the Company to the Trustee.

Appears in 5 contracts

Samples: Trust Agreement (Champion International Corp), Trust Agreement (Champion International Corp), Trust Agreement (Champion International Corp)

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Settlement of Accounts. Notwithstanding any other ---------------------- provision of this Trust Agreement, in the event of the termination of the Trust, or the resignation or discharge of the Trustee, the Trustee shall have the right to a settlement of its accounts, which accounting may be made, at the option of the Trustee, either (ai) by a judicial settlement in a court of competent jurisdiction; jurisdiction or (bii) by agreement of settlement, release and indemnity from the Company to the TrusteeTrustee with the written consent of the Participant Representatives.

Appears in 2 contracts

Samples: Trust Agreement (Air Products & Chemicals Inc /De/), Trust Agreement (Air Products & Chemicals Inc /De/)

Settlement of Accounts. Notwithstanding any other ---------------------- provision of this Agreement, in the event of the termination of the Trust, or the resignation or discharge of the Trustee, the Trustee shall have the right to a settlement of its accounts, which accounting may be made, at the option of the Trustee, either (a) by a judicial settlement in a court of competent jurisdiction; or (b) by agreement of settlement, release and indemnity from the Company to the Trustee.. ARTICLE VI

Appears in 1 contract

Samples: Trust Agreement (Champion International Corp)

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Settlement of Accounts. Notwithstanding any other ---------------------- provision of this Agreement, in the event of the termination of the Trust, or the resignation or discharge of the Trustee, the Trustee shall have the right to a settlement of its accounts, which accounting may be made, at the option of the Trustee, either (a) by a judicial Judicial settlement in a court of competent jurisdiction; jurisdiction-, or (b) by agreement of settlement, release and indemnity from the Company to the Trustee.

Appears in 1 contract

Samples: Trust Agreement (Curtiss Wright Corp)

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