PAYMENTS TO TRUST BENEFICIARIES. 2.1 Provided that the Company is not Insolvent and commencing with the earlier to occur of (a) appropriate notice to the Trustee by the Company, or (b) the date on which the Trustee has been notified in accordance with Section 1.3 that a Change of Control has occurred, the Trustee shall make payments of Benefits to each Trust Beneficiary from the assets of the Trust in compliance and conformity with the terms of the Plan and subject to Article IX.
Appears in 3 contracts
Samples: Trust Agreement (Cliffs Natural Resources Inc.), Trust Agreement (Cleveland Cliffs Inc), Trust Agreement (Cleveland Cliffs Inc)
PAYMENTS TO TRUST BENEFICIARIES. 2.1 Provided that the Company is not Insolvent and commencing with the earlier to occur of (a) appropriate notice to the Trustee by the Company, or (b) the date on which the Trustee has been notified in accordance with Section 1.3 that a Change of Control has occurred, the Trustee shall make payments of Benefits to each Trust Beneficiary from the assets of the Trust in compliance and conformity with the terms of the Plan and in accordance with Exhibit C, and subject to Article IX.
Appears in 3 contracts
Samples: Trust Agreement (Cliffs Natural Resources Inc.), Trust Agreement (Cleveland Cliffs Inc), Trust Agreement (Cleveland Cliffs Inc)
PAYMENTS TO TRUST BENEFICIARIES. 2.1 Provided that the Company is not Insolvent and commencing with the earlier to occur of (a) appropriate notice to the Trustee by the Company, or (b) the date on which the Trustee has been notified in accordance with Section 1.3 1.2 that a Change of Control the Trust has occurredbecome irrevocable, the Trustee shall make payments of Supplemental Benefits to each Trust Beneficiary when and as due under the Plan from the assets of the Trust as it shall be directed in compliance and conformity with writing by the terms of the Plan and subject to Article IXFiduciary.
Appears in 2 contracts
Samples: Trust Agreement (Vermont Transit Co Inc), Trust Agreement (Los Buenos Leasing Co Inc)
PAYMENTS TO TRUST BENEFICIARIES. 2.1 (a) Provided that the Company a Trust Beneficiary's Participating Employer is not Insolvent and commencing with the earlier to occur of (ai) appropriate notice by Ameritrust to the Trustee by the CompanyTrustee, or (bii) the date on which the Trustee has been notified in accordance with Section 1.3 that a Change of Control has occurredTrust becomes irrevocable, the Trustee shall make payments of Benefits to each the Trust Beneficiary Beneficiaries from the assets of the Trust in compliance and conformity accordance with the terms of the Plan Agreements and Plans and subject to Article IX.Section 9 hereof. The Trustee shall be permitted to
Appears in 1 contract
Samples: Trust Agreement (Keycorp /New/)
PAYMENTS TO TRUST BENEFICIARIES. 2.1 II.1 Provided that the Company is not Insolvent and commencing with the earlier to occur of (a) appropriate notice to the Trustee by the Company, or (b) the date on which the Trustee has been notified in accordance with Section 1.3 1.2 that a Change of in Control has occurred, the Trustee shall make payments of Supplemental Benefits to each Trust Beneficiary from the assets of the Trust in compliance and conformity with the terms of the Plan Plans and in accordance with Exhibit C, and subject to Article IX.
Appears in 1 contract
Samples: Trust Agreement (Detroit Edison Co)
