Deposit of Assets to the Trust Account. (a) Concurrently with the execution and delivery of this Agreement, the Trustee shall establish a Trust Account in the Grantor’s name, and shall administer the Trust Account as Trustee for the benefit of the Beneficiary in accordance with the terms of this Agreement and for the sole use and benefit of the Beneficiary. All such trusteed Assets at all times shall be maintained in or credited to the Trust Account, separate and distinct from all other assets of the Trustee, and shall be continuously maintained or credited by the Trustee, subject to the provisions of Section 7(d) hereof.
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Samples: Transition Services Agreement (AXA Equitable Holdings, Inc.), Transition Services Agreement (Protective Life Insurance Co), Transition Services Agreement (Protective Life Corp)
Deposit of Assets to the Trust Account. (a) Concurrently with the execution and delivery of this Agreement, the Trustee shall establish a Trust Account in the Grantor’s name, and shall administer the Trust Account as Trustee for the benefit of the Beneficiary in accordance with the terms of this Agreement and for the sole use and benefit of the Beneficiary. All such trusteed Assets at all times shall be maintained in or credited to the Trust Account, separate and distinct from all other assets of the Trustee, and shall be continuously maintained or credited by the Trustee, subject to the provisions of Section 7(d) hereof.
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