Examples of Custodial Trust Account in a sentence
Each Custodial Trust Account may be divided into such number of trust subaccounts dedicated for specific uses as may be deemed necessary in the sole discretion of the Environmental Custodial Trust Trustee to comply with the terms of, and implement, the Plan, the Settlement Agreement and this Agreement.
Funds designated for a Transferred Real Property shall be held and distributed from its respective Custodial Trust Account as set forth herein, and Funds from a Custodial Trust Account may not be used for another Transferred Real Property except as otherwise expressly provided by and in accordance with this Section and Section 2.7.3 of this Agreement.
Subject to Section 2.7 of this Agreement, the income and gains from any investment of the Custodial Trust Assets shall be allocated, paid and credited to such Custodial Trust Account.
All compensation payable to the Lyondell Environmental Custodial Trust Trustee shall be paid from the appropriate Custodial Trust Account based on the nature of the work being either administrative or environmental.
The annual report shall pertain to the prior calendar year, or if the report is a final report, such period from the most recent annual report to the termination of the Custodial Trust Account.
The Texas Custodial Trust shall be the exclusive holder of the Custodial Trust Assets and the Custodial Trust Account described herein for purposes of 31 U.S.C. § 3713(b) and 26 U.S.C. § 6012 (b)(3).
All payments received by the Custodial Trustee and any Custodial Trust Proceeds must be immediately placed by the Custodial Trustee into the Custodial Trust Account to be used for the purposes set forth in this Agreement.
The Custodial Trust Account shall fund the administrative costs of the Texas Custodial Trust that have been expressly approved by the TCEQ.
The approved budget shall be funded by the transfer of the approved amount from Custodial Trust Account in accordance with the approved fee schedule.
The Custodial Trust Assets shall be subject to the claims of the Custodial Trustee, and the Custodial Trustee shall be entitled to reimburse itself out of any available cash in the Custodial Trust Account and the Texas Custodial Trust shall be obligated to pay, for actual out-of-pocket expenses and for actual hours worked.