Trust Irrevocable definition

Trust Irrevocable. The Trust hereby established shall be irrevocable, and except as specifically provided in Sections 2, 6.8, 6.10, 11 and 12, the Trust Fund shall be held for the exclusive purpose of providing benefits to Participants and defraying expenses of the Trust in accordance with the provisions hereof. Except as specifically provided in Sections 2, 6.8, 6.10, 11 and 12, no part of the income or corpus of the Trust Fund shall be recoverable by or for the benefit of the Company.” 3. Delete the third sentence of Section 3.1.1 and substitute therefor the following: “Subject to the provisions of Section 5.1.1, the amount of each contribution by the Company to the Trust Fund shall be determined in the sole discretion of the Company.” 4. Insert the following new material to the end of Section ▇.▇.▇.: “Notwithstanding any other provision of this Trust Agreement to the contrary, upon a Change of Control (as defined in Section 5.1.6), the Company shall, as soon as possible, but in no event later than 15 days following the Change of Control, deliver to the Trustee Qualified Assets in an amount sufficient to cause the total value of Trust Fund assets, excluding the balance in the Expense Account, to equal the Plan Benefits of all Participants under the Plans as of the date of the Change of Control. Thereafter, and notwithstanding any other provision of this Trust Agreement to the contrary, the Company shall deliver to the Trustee Qualified Assets in an amount sufficient to cause the total value of Trust Fund assets, excluding the balance in the Expense Account, to at all times equal the Plan Benefits of all Participants under the Plans.” 5. Insert the following new Section 5.1.6 immediately after Section 5.1.5:
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Examples of Trust Irrevocable in a sentence

  • Trust Irrevocable 143 ARTICLE X Miscellaneous Provisions 143 Section 10.01.

  • Irrevocable Fee Protection Agreement; Irrevocable Guarantee of Payment Bond; Irrevocable Income-Only Trust; Irrevocable ...

  • Trust Irrevocable 119 ARTICLE X Miscellaneous Provisions 119 Section 10.01.

  • Trust Irrevocable 120 ARTICLE X Miscellaneous Provisions 120 Section 10.01.

  • Trust Irrevocable 138 ARTICLE X Miscellaneous Provisions 138 Section 10.01.

  • Trust Irrevocable..........................................................

  • Trust Irrevocable................................................................

  • However, given the Founders’ and the Thirlwell Family Trust’s undertakings to elect for the Partial Share Alternative in the proportions set out in the Founder Irrevocable Undertakings and the Family Trust Irrevocable Undertaking for the Thirlwell Family Trust, the Partial Share Alternative is not expected to lapse for this reason.

  • Irrevocabl Protection AgreemenPatg;e 4/5Irrevocable Guarantee of Payme Bond; Irrevocable Income-Only Trust; Irrevocable ...

  • The parties acknowledge that, pursuant to the terms of that certain Recapitalization Agreement (the "Other Agreement"), among Delaware 1851 Associates, LP, Indenture of Trust of ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ dated as of June 9, 1998 ("1998 Trust"), Irrevocable Indenture of Trust of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ dated July 13, 1999 ("1999 Trust"; and together with 1998 Trust, "Original LPs"), Welsh-Square, Inc.

Related to Trust Irrevocable

  • OHF means the Ontario Hockey Federation (or such other name as the OHF may in the future legally adopt);

  • Administrative law judge means an individual or an agency

  • Irrevocable trust means a trust over which no person holds a power of revocation. A power holder's lack of capacity to exercise a power of revocation negates the power of revocation unless an agent of the power holder under a durable power of attorney, a conservator of the power holder, or a plenary guardian of the power holder is serving and the agent, conservator, or guardian is authorized to exercise the power of revocation.

  • Revocable as applied to a trust, means revocable by the settlor without the consent of the trustee or a person holding an adverse interest.

  • the Academy Trust means the company intended to be regulated by these Articles and referred to in Article 2;