AMENDMENT AND TERMINATION OF THE TRUST Sample Clauses

AMENDMENT AND TERMINATION OF THE TRUST. SECTION 9.1. This Agreement may be amended at any time and from time to time, upon the approval of the Board of Directors of TCF Financial; PROVIDED, that, if the amendment is adopted prior to a change in control (as defined in section 5(j) of the Plan), no such amendment shall (without the consent of the participant, including any terminated participants and beneficiaries then receiving distributions) alter any participant's or beneficiary's right to payments of amounts previously credited to such participant's or beneficiary's Account or delay the time or times at which a participant or beneficiary is entitled to receive payments with respect to the participant's Deferred Amounts under the Plan). If the amendment is adopted after a change in control, as defined in section 5(j) of the Plan, the approval of the Board of Directors and the consent of all participants, terminated participants and beneficiaries shall be required for the amendment. In the event that all of the Plan's participants and beneficiaries do not consent to a proposed amendment, such amendment shall not take effect but the Trust assets credited to the accounts of the consenting participants shall be transferred to a separate trust established pursuant to an agreement that is identical to this Agreement in all respects, except that it may include the proposed amendment. SECTION 9.2. This Trust shall not be terminated until such time as all of the Companies' obligations to make distributions pursuant to the Plan have been fully discharged unless all of the Plan's participants (excluding any terminated participants and beneficiaries then receiving distributions pursuant to the Plan other than terminated participants entitled to a lump sum distribution) shall consent in writing to an earlier termination. If all of the Plan's participants, terminated participants and beneficiaries do not consent to an early termination, the Trust shall terminate with respect to such consenting participants (and with respect to participants or beneficiaries whose consent is not required) but shall continue in effect with respect to the nonconsenting participants. Upon a termination or partial termination of the Trust, the Trust assets, if any, that remain in the accounts established for participants in the Plan (or for the consenting participants (and participants or beneficiaries whose consent is not required), if fewer than all of the Plan's participants have consented to a termination for which the partici...
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
AMENDMENT AND TERMINATION OF THE TRUST. Section 9.1. This Agreement may be amended at any time and from time to time by way of a written instrument signed by TCF Financial and the Trustee, to the extent that Plan participants and beneficiaries who are then entitled to benefits under the Plan have consented in writing thereto. In any event, no amendment will conflict with the terms of the Plan. Section 9.2. This Trust will not be terminated until all of the Companies’ obligations to make distributions pursuant to the Plan have been fully discharged, except to the extent that Plan participants and beneficiaries who are then entitled to benefits under the Plan have consented in writing to an earlier termination. To the extent the Trust is terminated, Trust assets (including Parent Contributions) remaining after payment of outstanding charges under this Agreement will be distributed to TCF Financial. Section 9.3. TCF Financial will be responsible for obtaining such consents. (If a single deceased participant has multiple beneficiaries, all such beneficiaries will be deemed to have consented if a majority have actually consented, and none of such beneficiaries will be deemed to have consented if less than a majority has actually consented.) TCF Financial will notify the Trustee and the Record Keeper in writing of those participants and beneficiaries who have not consented; as to such individuals, the Trust will persist without changes to its terms. The Trustee may assume that TCF Financial has obtained all possible consents unless TCF provides written notice to the contrary upon signing the amendment or directing Trust termination, as the case may be.
Sample 1Sample 2
AMENDMENT AND TERMINATION OF THE TRUST. 7.01 Amendment The Company and the Trustee may agree to amend the terms of the Trust, including the terms of this Agreement. No amendment to the terms of the Trust and the terms of this Agreement are binding or effective unless the Tribunal approves the amendment.
Sample 1Sample 2
AMENDMENT AND TERMINATION OF THE TRUST. Section 10.1 Amendment 13 Section 10.2 Termination 13 Section 11.1 Nonalienation 13 Section 11.2 Employment 13 Section 11.3 Certification of Trust Agreement 13 Section 11.4 Governing Law 13 Section 11.5 Segregation of Assets 14 Section 11.6 Titles 14 Section 11.7 Counterparts 14 Section 11.8 Severability 14 Section 11.9 Written Notice 14 Section 11.10 Confidentiality Agreement 14 Section 12.1 “Act” 14 Section 12.2 “Agreement” 14 Section 12.3 “Code” 15 Section 12.4 “Named Fiduciary” 15 Section 12.5 “Participant” 15 Section 12.6 “Participant Loan” 15 Section 12.7 “Plan” 15 Section 12.8 “Plan Administrator” 15 Section 12.9 “Recordkeeper” 15 Section 12.10 “Trust” 15 Section 12.11 “Trust Fund” 15 Section 12.12 “Trustee” 15
Sample 1
AMENDMENT AND TERMINATION OF THE TRUST. 19 Section 9.1. Amendment of Agreement 19 Section 9.2. Termination of Agreement 19 ARTICLE X - THE COMMITTEE 20 Section 10.1. Membership and Actions of the Committee 20 Section 10.2. Committee Compensation and Expenses 20 Section 10.3. Indemnity of Committee 21 ARTICLE XI - MISCELLANEOUS 21 Section 11.1. Governing Law 21 Section 11.2. No Effect on Employment 21 Section 11.3. Successors 21 Section 11.4. Severability 22 Section 11.5. Incorporation of Plan as Part of Agreement 22 Section 11.6. Execution in Counterparts 22 Section 11.7. Effect of Divisions and Captions 22 Section 11.8. Gender and Number 22 TRUST AGREEMENT UNDER SUPPLEMENTAL EXECUTIVE RETIREMENT PROGRAM FOR OFFICERS OF AMERICAN AIRLINES, INC. PARTICIPATING IN THE $UPER $AVER PLUS PLAN THIS AGREEMENT (the "Agreement") is made and entered into effective as of the 15th day of September, 2005 (the "Effective Date"), by and between AMERICAN AIRLINES, INC. (the "Corporation"), a corporation organized and existing under the laws of the State of Delaware, and WACHOVIA BANK, NATIONAL ASSOCIATION (the "Trustee"), a national association organized and existing under the laws of the United States, and the individuals constituting the Committee described in Section 10.1 hereof (the "Committee").
Sample 1
AMENDMENT AND TERMINATION OF THE TRUST. SECTION 9.1. The Board of Directors of TCF Financial may, in its discretion, terminate or amend this Trust Agreement from time to time, provided, however, that no such termination or amendment shall (without the Employee's consent) alter any Employee's right to payments of amounts previously credited to such Employee's Account or delay the time or times at which an Employee is entitled to receive payments with respect to his Deferred Amounts, unless such termination or amendment is necessary as a condition of receiving a ruling from the Internal Revenue Service that Employees' Deferred Amounts will not be included in their gross income for Federal income tax purposes until such time as they are actually paid or otherwise made available to the Employee. The Trust Agreement is hereby amended effective October 20, 1997, to replace Article 11 with the following:
Sample 1
AMENDMENT AND TERMINATION OF THE TRUST. SECTION 9.1. The Personnel Committee of the TCF Financial Board of Directors, which is the Plan Administrator of this Plan, shall have full power to amend this Trust from time to time, or to terminate this Trust, except that no such amendment or termination shall deprive an Eligible Employee or beneficiary or survivor thereof of any benefits accrued under this Trust prior to such amendment or termination without the written consent of such Eligible Employee, or if deceased, the beneficiary or survivor thereof.
Sample 1
AutoNDA by SimpleDocs
AMENDMENT AND TERMINATION OF THE TRUST 
Sample 1Sample 2Sample 3See All (14)

Related to AMENDMENT AND TERMINATION OF THE TRUST

  • Amendment and Termination of the Plan The Board may, by resolution, at any time, amend or terminate the Plan. The power to amend or terminate the Plan shall include the power to direct the Trustee to return to the Parent all or any part of the assets of the Trust, including shares of Common Stock held in the Plan Share Reserve, as well as shares of Common Stock and other assets subject to Plan Share Awards which have not yet been earned by the Participants to whom they have been awarded. However, the termination of the Trust shall not affect a Participant's right to earn Plan Share Awards and to the distribution of Common Stock relating thereto, including earnings thereon, in accordance with the terms of this Plan and the grant by the Committee or the Board. Notwithstanding the foregoing, no action of the Board may increase (other than as provided in Section 9.01 hereof) the maximum number of Plan Shares permitted to be awarded under the Plan as specified at Section 5.03, materially increase the benefits accruing to Participants under the Plan or materially modify the requirements for eligibility for participation in the Plan unless such action of the Board shall be subject to ratification by the stockholders of the Parent.

  • Amendment and Termination No amendment, modification, termination or cancellation of this Agreement shall be effective unless it is in writing signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

  • Amendment and Termination of Agreement (a) We may amend any provision of this Agreement by giving you written notice of the amendment. Either party to this Agreement may terminate the Agreement without cause by giving the other party at least thirty (30) days' written notice of its intention to terminate. This Agreement will terminate automatically in the event of its assignment (as defined in the 1940 Act). (b) In the event that (i) an application for a protective decree under the provisions of the Securities Investor Protection Act of 1970 is filed against you; (ii) you file a petition in bankruptcy or a petition seeking similar relief under any bankruptcy, insolvency, or similar law, or a proceeding is commenced against you seeking such relief; or (iii) you are found by the SEC, the NASD, or any other federal or state regulatory agency or authority to have violated any applicable federal or state law, rule or regulation arising out of your activities as a broker/dealer or in connection with this Agreement, this Agreement will terminate effective immediately upon our giving notice of termination to you. You agree to notify us promptly and to immediately suspend sales of Portfolio shares in the event of any such filing or violation, or in the event that you cease to be a member in good standing of the NASD. (c) Your or our failure to terminate this Agreement for a particular cause will not constitute a waiver of the right to terminate this Agreement at a later date for the same or another cause. The termination of this Agreement with respect to any one Portfolio will not cause its termination with respect to any other Portfolio. 11.

  • Amendment and Termination of Plan Notwithstanding any provision in this Adoption Agreement or the Plan to the contrary, Section of the Plan shall be amended to read as provided in attached Exhibit . XX There are no amendments to the Plan.

  • Modification and Termination No agreement to modify, amend, extend, supersede, terminate, or discharge this Settlement Agreement, or any portion thereof, is valid or enforceable unless it is in writing and signed by all Parties to this Settlement Agreement.

  • Amendment and Termination; Waiver Subject to the terms of the Plan, this Agreement may be amended or terminated only by the written agreement of the parties hereto. The waiver by BB&T of a breach of any provision of the Agreement by the Participant shall not operate or be construed as a waiver of any subsequent breach by the Participant. Notwithstanding the foregoing, the Administrator shall have unilateral authority to amend the Plan and this Agreement (without Participant consent) to the extent necessary to comply with applicable law or changes to applicable law (including but in no way limited to Section 409A and federal securities laws), and the Participant hereby consents to any such amendments to the Plan and this Agreement.

  • Modification, Amendment and Termination This Limited Guaranty may be modified, amended or terminated only by the written agreement of GMAC and the Trustee and only if such modification, amendment or termination is permitted under Section 12.02 of the Servicing Agreement. The obligations of GMAC under this Limited Guaranty shall continue and remain in effect so long as the Servicing Agreement is not modified or amended in any way that might affect the obligations of GMAC under this Limited Guaranty without the prior written consent of GMAC.

  • Amendments and Termination This Agreement may be amended or terminated only by a written agreement signed by the Company and the Executive.

  • TERM, MODIFICATION AND TERMINATION OF AGREEMENT This Agreement with respect to the Fund shall continue in effect until the expiration date set forth on Schedule A (the “Expiration Date”). With regard to the Operating Expense Limits, the Trust’s Board of Trustees and the Adviser may terminate or modify this Agreement prior to the Expiration Date only by mutual written consent. This Agreement shall terminate automatically upon the termination of the Advisory Agreement; provided, however, that the obligation of the Trust to reimburse the Adviser with respect to a Fund shall survive the termination of this Agreement unless the Trust and the Adviser agree otherwise.

  • Term of Agreement and Termination 2.1. This Agreement enters into effect at the time of acceptance of this Agreement. 2.2. This Agreement will terminate without any further notice in the event products offered under this Agreement have not been used during a period of two (2) years. 2.3. This Agreement may be terminated at any time by either party with 30 days written notice. 2.4. This Agreement may be terminated by SAS with immediate effect if the Company code is used for private purposes or if SAS has reasonable cause to believe that such or similar misuse has occurred or if the Company is put into bankruptcy, enters into liquidation or is otherwise deemed to be insolvent.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!