Amendment and Termination of Trust. 7.1 It is the intention of the Company that this Trust and the Plan of which it is a part shall be permanently administered for the benefit of the Plan's participants and their beneficiaries, and defraying reasonable expenses of administering the Plan. This Trust is, accordingly, irrevocable except with respect to Section 8.4; however, this Trust may be terminated at any time by the Company, and upon such termination, the Trust Fund shall be distributed by the Trustee as and when directed by the Administrator in accordance with the provisions of Section 2.10 and the Plan document. From the date of termination of the Plan and until the final distribution of the Trust assets, the Trustee shall continue to have all the powers provided under this Agreement that are necessary or desirable for the orderly liquidation and distribution of the Trust Fund. In no instance upon any termination, or discontinuance, and subsequent distribution shall the Trust Fund or any part of it be used for, or diverted to, purposes other than providing benefits to participating employees and their beneficiaries, and defraying the administrative expenses of the Plan until all Plan liabilities have been satisfied, except in the instance of the failure of the Trust initially to qualify for tax-exempt status as set forth in Section 8.4.
Amendment and Termination of Trust. SECTION I This Declaration of Trust shall be irrevocable, except that it may be amended from time to time to conform to any rules or regulations that are issued by any governing body or agency relating to the intent and purposes of the Trust, to clarify the construction and/or administration of the Trust, as well as to meet the requirements of any new law, rules or regulations for which the Trust can be utilized. In addition, the Trustee may amend this instrument with the approval of any court of competent jurisdiction in the State of California, by notice to the Department of Health Services, or its successor agency, of the State of California. An amendment can be made as a formal amendment to the Trust or as an addendum to the Trust and/or the Joinder Agreement. An amendment and/or an addendum for a sub-account not under continuing court jurisdiction can be added to the Trust and/or the Joinder Agreement by the SNTF upon fifteen (15) days written notice to the Beneficiary (or the Beneficiary’s legal representative) or immediately with written consent. If an amendment is made by an addendum to a Joinder Agreement affecting a limited number of Beneficiaries, notice to and/or the consent of only the affected Beneficiaries (or the Beneficiary’s legal representative) is required. SNTF may submit any amendment to a court of competent jurisdiction for approval, but is not required to do so for sub-accounts not subject to court jurisdiction. Any amendment affecting a sub-account that is under continuing court jurisdiction must be submitted for court approval unless the court specifically orders otherwise. Notwithstanding the above sections, the SNTF shall not seek a proposed amendment to the Trust Agreement that would: (a) alter the purpose or objective of this Declaration of Trust; or (b) make contributions revocable that are otherwise irrevocable under this Declaration of Trust or the Joinder Agreement.
Amendment and Termination of Trust. (a) The Employer and the Trustee may mutually agree at any time to amend this Trust Agreement and the Trust created hereby to any extent deemed advisable. No amendment to this Trust Agreement shall be effective unless mutually agreed to in writing by the Employer and the Trustee; provided, however, that Trustee's fee schedule may be amended or provided in Section 7.
Amendment and Termination of Trust. The Employer expressly reserves the right at any time to amend this Trust Agreement and the Trust created hereby to any extent that it may deem advisable. The Employer expressly reserves the right to revoke this Trust Agreement and to terminate the Trust hereby created. Upon such termination, disposition of the assets of the Trust Fund shall be governed by the terms of the Plan; provided, however, that the Trustee shall not distribute any portion of the Trust Fund after such termination unless the Employer first obtains a determination from the Internal Revenue Service that such termination will not affect adversely the qualified status of the Plan. Thirteenth: Miscellaneous Provisions (a) This Trust Agreement and the trust hereby created shall be governed, construed, administered and regulated in all respects under the law of the United States and of the State of Connecticut. (b) The titles to the Article in this Trust Agreement are placed herein for convenience of reference only and in case of any conflict the text of this instrument, rather than such titles, shall control. (c) In the event that any dispute shall arise as to the persons to whom payment of any funds and/or delivery of any property shall be made by the Trustee, the Trustee may withhold such payment and/or delivery until such dispute shall have been determined by a court of competent jurisdiction or shall have been settled by the parties concerned. (d) In case any provisions of this Trust Agreement shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts of this Trust Agreement, but this Trust Agreement shall be construed and enforced as if said illegal and invalid provisions had never been inserted herein or therein. (e) No right or claim to any of the monies or other assets of the Trust Fund shall be assignable, nor shall such rights or claims be subject to garnishment, attachment or execution or levy of any kind and any attempt to transfer, assign or pledge the same will not be recognized by the Trustee except as may be required pursuant to a qualified domestic relations order under Section 414(p) of the Code or as may be otherwise required by applicable laws. (f) This Trust Agreement may be executed in any number of counterparts, each of which shall be deemed an original, and said counterparts shall constitute but one and the same instrument and may be sufficiently evidenced by any one counterpart. (g) This Trust Agreement shall...
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Amendment and Termination of Trust. (a) The Employer and the Trustee may mutually agree at any time to amend this Trust Agreement and the Trust created hereby to any extent deemed advisable. No amendment to this Trust Agreement shall be effective unless mutually agreed to in writing by the Employer and the Trustee; provided, however, that Trustee's fee schedule may be amended as provided in Section 7. (b) The Employer may at any time revoke this Trust Agreement and terminate the Trust hereby created. Such revocation and termination shall become effective upon receipt by the Trustee or its delegate of a written instrument of such revocation and termination executed by the Employer. Upon such termination, disposition of the assets of the Trust Fund shall be governed by the terms of the Plan; provided, however, that the Trustee shall not distribute any portion of the Trust Fund after such termination unless the Employer first obtains a determination from the Internal Revenue Service that such termination will not affect adversely the qualified status of the Plan and, if required, approval of the Pension Benefit Guaranty Corporation of such termination and distribution of assets. In lieu of an Internal Revenue Service determination, assets of the Trust Fund may be distributed if the Employer agrees in writing with the Trustee to indemnify the Trust Fund for any taxes or other penalties which may be assessed against it as a result of such termination or agrees to provide a bond to secure payment of any such taxes or penalties.
Amendment and Termination of Trust. 7.01 The Board may amend any or all of the provisions of this Trust and the Plan embodied herein at any time and from time to time on behalf of Forest and all Employers, provided however:
Amendment and Termination of Trust. (a)The Company expressly reserves the right at any time to amend this Trust Agreement and the Trust created hereby to any extent that it may deem advisable. No such amendment shall be made without the written consent of the Trustee. Such amendment shall become effective upon execution by the Trustee following delivery by the Company to the Trustee of a written instrument of amendment, duly executed and acknowledged by the Company, and accompanied by a certified copy of a resolution of the Board of Directors of the Company Directed TTEE, Defined Benefit ERISA Packet 00-42-3392NSBW 06-2019Page 9 of 11 IR-Trust Agreement Defined Benefit Pension Plan 00-42-2371NSBW Revised: 3/22/2019 authorizing such amendment.
Amendment and Termination of Trust. SECTION I The governing board of the Special Needs Trust Foundation shall have the power to amend the provisions of this Master Trust Agreement and the Joinder Agreement provided; however, that such power of amendment shall not extend to any amendment thereof which shall:
Amendment and Termination of Trust
