Common use of Trust Fund Clause in Contracts

Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Obligations; and a special account thereof shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Obligations shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded Obligations. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuer, and the Escrow Agent shall have no right to title with respect thereto except as a constructive trustee and Escrow Agent under the terms of this Agreement. The amounts received by the Escrow Agent under this Agreement shall not be subject to warrants, drafts or checks drawn by the Issuer or, except to the extent expressly herein provided, by the Paying Agent.

Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Defeased Obligations; and a special account thereof shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Defeased Obligations shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded Defeased Obligations. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuer, and the Escrow Agent shall have no right to title with respect thereto except as a constructive trustee and Escrow Agent under the terms of this Agreement. The amounts received by the Escrow Agent under this Agreement shall not be subject to warrants, drafts or checks drawn by the Issuer or, except to the extent expressly herein provided, by the Paying Agent.

Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded ObligationsBonds; and a special account thereof shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Obligations Bonds shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded ObligationsBonds. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuer, and the Escrow Agent shall have no right to title with respect thereto except as a constructive trustee and Escrow Agent under the terms of this Agreement. The amounts received by the Escrow Agent under this Agreement shall not be subject to warrants, drafts or checks drawn by the Issuer or, except to the extent expressly herein provided, by the Paying Agent.

Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, Fund wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Obligations; Bonds, and a special account thereof therefor shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Obligations Bonds shall be entitled to the same a preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded Obligations. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuer, and the Escrow Agent shall have no right to title with respect thereto except as a constructive trustee and Escrow Agent under the terms of this AgreementFund. The amounts received by the Escrow Agent under this Agreement shall not be subject to warrants, drafts or checks drawn by the Issuer District or, except to the extent expressly herein provided, by a place of payment (paying agent) for the Paying AgentRefunded Bonds.

Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Obligations; and a special account thereof shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Obligations shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded Obligations. The amounts contributions received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by Trustee from the Issuer, Company and the Escrow Agent Subsidiaries shall have no right be held and administered pursuant to title with respect thereto except as a constructive trustee and Escrow Agent under the terms of this Master Trust Agreement without distinction between income and principal and without liability for the payment of interest thereon except as expressly provided in this Master Trust Agreement. The amounts During the term of this Trust, all income received by the Escrow Agent under this Agreement Trust, net of expenses and taxes, shall not be subject to warrantsaccumulated and reinvested. Except as hereinafter provided, drafts or checks drawn the assets held for the payment of benefits of Participants and Beneficiaries of each Plan and payable by the Issuer orCompany and separate Subsidiaries under the provisions of a Plan shall be commingled. However, except the Trustee shall maintain a separate account that will show the equitable share of the assets available to pay benefits owed by the Company and each Subsidiary under the provisions of each Plan and the income gains and losses of the Trust Fund's assets so held shall be allocated proportionately among the accounts. The Trustee, however, shall establish a separate sub-account ("Subtrust") to hold assets contributed by the Company to meet the obligations of a Subsidiary under any Plan and such other Subtrusts as directed by the Committee in writing. Assets held in a Subtrust shall be commingled and the Trustee shall maintain a separate account that will show the equitable share of the assets available to pay benefits owed by the Company and each Subsidiary under the provisions of each Plan and the income gains and losses of the Subtrust's assets so held shall be allocated proportionately among the accounts. In the event Parent acquires all of the outstanding voting stock of all classes of RPM, Inc., any separate account evidencing an equitable share for RPM, Inc. or any Subtrust holding assets contributed by RPM, Inc. shall continue to be so maintained and held and shall be transferred to the Parent only upon and to the extent expressly herein providedsuch interest is assigned to Parent by RPM, by the Paying Agent.Inc.

Trust Fund. The Escrow Agent shall hold at all times shall hold the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, Fund wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund always shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners holders of the Refunded ObligationsDefeased Bonds; and a special account thereof evidencing such fact shall be maintained at all times be maintained on the books of the Escrow Agent. The owners holders of the Refunded Obligations Defeased Bonds shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, thereof and all other assets of the Escrow Fund to which they are entitled as owners holders of the Refunded ObligationsDefeased Bonds. The amounts received by the Escrow Agent under this Escrow Agreement shall not be considered as a banking deposit by the IssuerCounty, and the Escrow Agent shall have no right to or title with respect thereto except as a constructive trustee and Escrow Agent escrow agent under the terms of this Agreementhereof. The amounts received by the Escrow Agent under this Agreement hereunder shall not be subject to warrants, drafts or checks drawn by the Issuer County or, except to the extent expressly herein provided, by the Paying AgentAgent for the Defeased Bonds.

Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Obligations; and a special account thereof shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Obligations shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded Obligations. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuer, and the Escrow Agent shall have no right to title with respect thereto except as a constructive trustee and an Escrow Agent under the terms of this Agreement. The amounts received by the Escrow Agent under this Agreement shall not be subject to warrants, drafts or checks drawn by the Issuer or, except to the extent expressly herein provided, by any paying agent for the Paying AgentRefunded Obligations.

Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities Fund and all other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Obligations; and a special account thereof shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Obligations shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded Obligations. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuer, and the Escrow Agent shall have no right to title with respect thereto except as a constructive trustee and Escrow Agent under the terms of this Agreement. The amounts received by the Escrow Agent under this Agreement shall not be subject to warrants, drafts or checks drawn by the Issuer or, except to the extent expressly herein provided, by the Paying Agent.

Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded ObligationsDefeased Bonds; and a special account thereof shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Obligations Defeased Bonds shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded ObligationsDefeased Bonds. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuer, and the Escrow Agent shall have no right to title with respect thereto except as a constructive trustee and Escrow Agent under the terms of this Agreement. The amounts received by the Escrow Agent under this Agreement shall not be subject to warrants, drafts or checks drawn by the Issuer or, except to the extent expressly herein provided, by the Paying Agent.

Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities Fund and all any other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Obligations; and a special account thereof shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Obligations shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded Obligations. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuer, and the Escrow Agent shall have no right to title with respect thereto except as a constructive trustee and Escrow Agent under the terms of this Agreement. The amounts received by the Escrow Agent under this Agreement shall not be subject to warrants, drafts or checks drawn by the Issuer or, except to the extent expressly herein provided, by the Paying Agent.

Trust Fund. The Escrow Agent assets held at any time and from time to time under the Trust collectively are herein referred to as the "Trust Fund" and shall hold at all times consist of Common Stock contributions received by the Escrow FundTrustee, proceeds of any loans, investments and reinvestment thereof, the Escrowed Securities earnings and all other assets of the Escrow Fundincome thereon, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund less disbursements therefrom. Except as herein otherwise provided, title to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Trust Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Obligations; and a special account thereof shall at all times be maintained on vested in the books Trustee and securities that are part of the Escrow Agent. The owners Trust Fund shall be held in such manner that the Trustee's name and the fiduciary capacity in which the securities are held are fully disclosed, subject to the right of the Refunded Obligations shall be entitled Trustee to hold title in bearer form or in the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets name of the Escrow Fund to which they are entitled as owners of the Refunded Obligations. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuernominee, and the Escrow Agent interests of others in the Trust Fund shall have no be only the right to title have such assets received, held, invested, administered and distributed in accordance with respect thereto except the provisions of the Trust. Company Stock held in the ESOP Plan Subaccount (as a constructive trustee herein defined) of the Trust shall be used exclusively for the purpose of funding Company contributions to the ESOP and Escrow Agent other employee benefit plans maintained by the Company as provided for in Article 3; Company Stock held in the Option Plan Subaccount (as herein defined) of the Trust shall be used exclusively for the purpose of satisfying the Company's obligations under the terms Options (as herein defined) which are exercised by Option Plan Participants (as herein defined) as provided for in Article 3. The principal and income of this Agreement. The amounts received by Trust shall be used exclusively to fund the Escrow Agent under this Agreement shall ESOP and other employee benefit plans (including, but not be subject to warrantslimited to, drafts or checks drawn by the Issuer or, except to the extent expressly herein provided, by the Paying Agent.Stock Option Plan)

Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Obligations; and a special account thereof shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Obligations shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded Obligations. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuer, and the Escrow Agent shall have no right to title with respect thereto except as a constructive trustee and an Escrow Agent under the terms of this Agreement. The amounts received by the Escrow Agent under this Agreement shall not be subject to warrants, drafts or checks drawn by the Issuer or, except to the extent expressly herein provided, by the Paying Agent.