TAXES, EXPENSES AND COMPENSATION. 10.1 The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Trust Fund. The Trustee shall withhold Federal, State and local taxes from any payments made to a participant or beneficiary in accordance with the provisions of applicable law. The Trustee shall contest the validity of taxes in any manner deemed appropriate by the Company or its counsel, but at the Company's expense, and only if it has received an indemnity bond or other security satisfactory to it to pay any such expenses. In the alternative, the Company may itself contest the validity of any such taxes.
TAXES, EXPENSES AND COMPENSATION. 9.1 The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Trust Fund. The Trustee shall if requested by the Company, or may, in his discretion, contest the imposition of taxes in any manner deemed appropriate by the Company or its counsel, but at Company expense, and only if he has received an indemnity bond or other security satisfactory to him to pay any such expenses. Notwithstanding the foregoing, the Trustee shall not be obligated to contest the imposition of tax unless he receives an opinion of counsel, or of a certified public accounting firm of national reputation, satisfactory to him to the effect that there is a reasonable basis in law and fact for such contest. In the alternative, the Company may itself contest the validity of any such taxes.
TAXES, EXPENSES AND COMPENSATION. 11.1. It is intended that the Trust will be a Code Article 115 trust. As such, it is expected that there will be no income taxes owed by the Trust. To the extent that any taxes are imposed on the Trust, the Trustees shall use the assets of the Trust Fund to pay for any taxes owed.
TAXES, EXPENSES AND COMPENSATION. 8.1 The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Trust Fund. The Trustee shall contest the validity of taxes in any manner deemed appropriate by the Company or its counsel, but at Company expense, but only if it has received an indemnity bond or other security satisfactory to it to pay any such expense. In the alternative, the Company may itself contest the validity of any such taxes.
TAXES, EXPENSES AND COMPENSATION. 6.1 The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are levied or assessed upon or become payable in respect of the Trust Fund, the income or and property forming a part thereof or any security transaction pertaining thereto. To the extent that any taxes levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Trust Fund. The Trustee shall, at the Company's expense, contest the validity of such taxes but only if it has received an indemnity bond or other security satisfactory to it to pay any expenses of such contest; provided, however, the Trustee shall have no obligation to contest if it receives an opinion of counsel retained by the Trustee to the effect that there is no basis in law or fact for such contest. Alternatively, the Company may itself out of Company funds contest the validity of any such taxes.
TAXES, EXPENSES AND COMPENSATION. 8.1 AMP shall from time to time pay taxes of any and all kinds which are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by AMP, the Trustee shall pay such taxes out of the Fee Trust, or, to the extent that the Fee Trust is insufficient, on a pro rata basis from the Trusts. The Trustee shall at the expense and direction of AMP contest the validity of such taxes in any manner deemed appropriate by AMP or its counsel or AMP may itself contest the validity of any such taxes.
TAXES, EXPENSES AND COMPENSATION. For its services hereunder, the Company shall pay the Trustee such reasonable compensation as is agreed upon in writing between the Company and the Trustee. The Company shall also pay the reasonable expenses, including, but not limited to, legal fees reasonably incurred by the Trustee in the performance of its duties under this Trust Agreement and other reasonable expenses of the Trust. Any fees or expenses, including, but not limited to, legal fees reasonably ,incurred, not paid by the Company may be paid out of the cash assets, if any, held by the Trustee hereunder.
TAXES, EXPENSES AND COMPENSATION. 8.1 The Company shall from time to time pay taxes of any and all kinds which are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Fee Trust, or, to the extent that the Fee Trust is insufficient, on a pro rata basis from the other Trust Funds. The Trustee shall at the expense and direction of the Company contest the validity of any taxes in any manner deemed appropriate by the Company or its counsel or the Company may itself contest the validity of any such taxes. All reasonable expenses incurred by the Trustee in the performance of its duties under this Trust Agreement, including but not limited to legal fees and brokerage commissions, shall be charged against and paid from the Fee Trust to the extent that the Company does not pay such expenses, or, to the extent that the Fee Trust is insufficient, on a pro rata basis from the other Trust Funds.
TAXES, EXPENSES AND COMPENSATION. 8.1 The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Trust Fund, provided, however, that in the event of the occurrence of a Change in
TAXES, EXPENSES AND COMPENSATION. 8.1. The Company from time to time will pay taxes of any kind lawfully levied or assessed on or payable in respect of the Trust Fund, the income or any property forming a part of it, or any security transaction pertaining to it. To the extent that any taxes lawfully levied or assessed on the Trust Fund are not paid by the Company, the Trustee will pay those taxes out of the Trust Fund. On and after a Change in Control, no taxes (other than applicable withholding taxes and charges pursuant to Section 6.1 and other taxes relating to the Trust Fund for which the Trustee has been assessed by the appropriate federal, state or local taxing authority) may be paid from the Trust Fund. The Trustee will contest the validity of those taxes in any manner deemed appropriate by the Company or its counsel, but at Company expense, or the Company itself may contest the validity of any of those taxes.
