Common use of Adoption by Additional Funeral Establishments Clause in Contracts

Adoption by Additional Funeral Establishments. From time to time, Funeral Establishments who are engaged in the business of selling Preneed Funeral Merchandise and Services may adopt, subject to the requirements of this Article, the terms and provisions of this Trust Agreement by executing an appropriate corporate resolution acceptable to Trustee. Upon to delivery to Trustee hereunder of such resolution, written acceptance and approval by Trustee, and delivery of the related Preneed Funds, the Funeral Establishment so adopting this Trust Agreement shall become a participating Funeral Establishment hereunder. If a Funeral Establishment established a funeral benefits trust (“Predecessor Trust”) before the date of such Funeral Establishment’s adoption of this Trust Agreement, and such Funeral Establishment desires that such Predecessor Trust be governed by the terms and conditions of the Trust Agreement, then the adopting resolution of such Funeral Establishment shall provide for the appointment of Trustee hereunder as successor trustee under said Predecessor Trust and shall further provide that the Predecessor Trust is amended in its entirety and that the provisions hereof shall be substituted for those set forth in said Predecessor Trust and shall provide for delivery of the Preneed Funds then held in the Predecessor Trust to Trustee. Upon appointment of Trustee as successor trustee of such Predecessor Trust, Trustee shall not be required to examine the accounts, records and/or acts of any previous trustee, nor shall Trustee be responsible for any act or omission on the part of any previous trustee. Each Funeral Establishment shall be responsible for filing any notices and/or reports relating to that Funeral Establishment’s Preneed Trust fund that may be required to be filed with the State of Alabama regarding the establishment of a preneed funeral trust, this Trust Agreement and the management, investment and disposition of the funds thereunder.