Plan Trustee definition
Examples of Plan Trustee in a sentence
Company will cause the Plan Trust to have sufficient Cash or other assets (whether by means of a Cash contribution or otherwise) to enable the Plan Trustee to pay all amounts that it is directed to pay to Insurer by Independent Fiduciary pursuant to this Commitment Agreement.
Following the Closing, the Plan, the Plan Trust, the Plan Trustee, the Committee, Company and Independent Fiduciary and their respective affiliates and representatives will not have any liability to pay any annuity payment under the Contract, except as described in paragraph 3.i.i. in the event Necessary Data is not provided for certain annuitants or contingent annuitants and consequently such annuitants and contingent annuitants are not included in the Contract prior to the True-Up Date.
Independent Fiduciary will direct the Plan Trustee to and, as soon as administratively practicable, Insurer will execute, deliver, record, file, or cause to be executed, delivered, recorded, or filed any and all releases, affidavits, waivers, notices, or other documents that Company or Insurer may reasonably request in order to implement the transfer of the Eligible Assets to Insurer.
Independent Fiduciary will direct the Plan Trustee to give or cause to be given all notices as soon as administratively practicable that are required, under applicable law and the terms of each Eligible Asset, in connection with the sale, assignment, transfer, and delivery of the Eligible Assets on the Closing Date.
The Plan Trustee has been duly appointed as the directed trustee of the Plan Trust and is obligated to follow Independent Fiduciary’s directions to effectuate and consummate the transactions contemplated by this Commitment Agreement and the IF Engagement Letter.