Common use of Payments to Company Clause in Contracts

Payments to Company. Except as otherwise specifically provided in this Trust Agreement, the Company shall have no right or power to direct the Trustee to return to the Company or to divert to others any of the Trust assets before all payment of benefits has been made to the Participant and his beneficiaries pursuant to the terms of the Plan (as certified to the Trustee by the Company). Notwithstanding the above, the Company may direct the Trustee to transfer to the Company Trust Fund assets in an amount necessary to avoid triggering taxable income to the Participant or a beneficiary if the Participant or beneficiary would be required to recognize income tax on such funds if they remain in the Trust. The Trustee shall be entitled to rely solely on the Company's representation that the amount directed to be returned to the Company could become taxable to the Participant or a beneficiary and shall have no duty to review the Company's determination of the amount.

Payments to Company. Except as otherwise specifically provided in this Trust Agreement, the Company shall have no right or power to direct the Trustee to return to the Company or to divert to others any of the Trust assets before all payment of benefits has been made to the Participant Participants and his their beneficiaries pursuant to the terms of the Plan Plans (as certified to the Trustee by the Company). Notwithstanding the above, the Company may direct the Trustee to transfer to the Company Trust Fund assets in an amount necessary to avoid triggering taxable income to the a Participant or a beneficiary if the such Participant or beneficiary would be required to recognize income tax on such funds if they remain in the Trust. The Trustee shall be entitled to rely solely on the Company's representation that the amount directed to be returned to the Company could become taxable to the a Participant or a beneficiary and shall have no duty to review the Company's determination of the amount.