RCA Trust definition
Examples of RCA Trust in a sentence
If and provided that it has funds to do so, on or before each Renewal Date the RCA Trustee shall pay to the Qualifying Bank which has agreed to issue the Letter of Credit for the next year the premium for such Letter of Credit; such premium to be paid from monies then held in the RCA Trust and/or Contributions made by the Company.
In conjunction with the execution of the RCA Trust Agreement, the Company shall make a Contribution to enable the RCA Trustee to purchase the initial Letter of Credit; and thereafter, on or before each Renewal Date, the Company shall make a Contribution to enable the RCA Trustee to purchase a renewal or replacement Letter of Credit.
For greater certainty, after all of the obligations of the RCA Trust have been satisfied, the RCA Trustee shall remit to the Company for its absolute use and benefit, the balance of the RCA Trust.
At any given time, the main asset of the RCA Trust shall be the current Letter of Credit.
In conjunction with the execution and delivery of the RCA Trust Agreement, the RCA Trustee shall purchase the initial Letter of Credit in an amount sufficient to cover 110% of the Company's liability for Excess Benefits for the remainder of the Year to June 30, 1998.
Other than the OPEB ELHTs and the RCA Trust, neither the Company nor any of its Subsidiaries has any obligations or liabilities in respect of any (i) “retirement compensation arrangement” as that term is defined in subsection 248(1) of the ITA; or (ii) ELHT.
The purpose of the RCA Trust is to provide security for payment by the Company of the Supplementary Benefits and, in certain circumstances, of benefits under the Additional Retirement Arrangements in order of priority as set out in the RCA Trust.
The Company shall establish an RCA Trust and the Trustees appointed by the Company to administer this Trust shall invest contributions made to the Plan at their sole discretion, subject to such investments being permitted under the terms of the Trust Deed.
For greater certainty, after all of the obligations of the RCA Plan have been satisfied, the Company shall be entitled to any amounts remaining in the RCA Trust and the RCA Trustee shall remit to the Company for its absolute use and benefit, the balance of the RCA Trust.
The Company shall establish an RCA Trust and the Trustees shall invest contributions made to the Plan at their sole discretion, subject to such investments being permitted under the terms of the Trust Deed and approved by the Company and in the case of Member Contributions, by the Member.