Amendment by Trustees. Subject to the right of shareholders as provided in Section 9.1 of this Article to adopt, amend or repeal By-Laws, and except as otherwise provided by applicable law or by the Declaration of Trust, these By-Laws may be adopted, amended, or repealed by the Board of Trustees.
Amendment by Trustees. The provisions of this Agreement and Declaration of Trust may be amended to any extent and at any time by an instrument in writing, adopted by majority vote of the Trustees. Whenever any amendment is made a copy thereof shall be distributed to all Trustees. The Trustees shall have the power to establish the effective date of any amendment. It is expressly understood and agreed that no amendment shall direct any of the trust estate then in the hands of the Trustees from the purposes and objects of the Pension Trust Fund.
Amendment by Trustees. These By-laws may also be altered, amended or repealed by the Trustees, except with respect to any provision which by law, the Trust Agreement or these By-laws requires action by the shareholders.
Amendment by Trustees. The provisions of this Agreement and Declaration of Trust may be amended to any extent and at any time by an instrument in writing, executed by the Trustees, provided there is attached thereto a duly certified copy of a resolution approving such amendment adopted by the Executive Board of the Union at a regular or special meeting called for that purpose, together with a duly certified copy of a resolution by the Board of Directors of NEII duly approving such amendment, it being expressly understood and agreed that no amendment shall direct any of the Trust Estate then in the hands of the Trustees from the purposes of the National Elevator Industry Educational Program.
Amendment by Trustees. This Restated Agreement and Declaration of Trust may be amended in any respect from time to time by the Trustees, provided that each amendment shall be duly executed in writing by the Trustees and annexed hereto. As to any amendment, the Trustees, in their sole discretion, shall have full power to fix the effective date thereof.
Amendment by Trustees. At any time during the term of this Trust, the Trustees may amend any technical aspect of this Trust, including, but not limited to: (i) the timing of distributions,
Amendment by Trustees. The provisions of this Trust Agreement may be amended to any extent and at any time by a document in writing, adopted by a majority vote of the Trustees, subject to the written approval of such amendment by the Executive Board of the Union, a corporate resolution of Xxxx Elevator Company according to its internal procedures, and a resolution by the Board of Directors of National Elevator Industry, Inc. Changes in the Plan of Benefits may be made by majority action of the Trustees present and voting, in accordance with Article VII. Nothing in this Section limits the power of the Trustees to amend this Trust Agreement by majority action without the approval of Xxxx and National Elevator Industry, Inc. and the Union if the Collective Bargaining Agreements have provisions relating to the subject of the change in the Plan of Benefits and the amendment to the Trust Agreement is consistent with the Collective Bargaining Agreements. It is expressly understood and agreed that no amendment will direct any of the trust assets then in the control of the Trustees away from the purposes and objects of the Trust Fund. It is further expressly understood and agreed that no amendment without the written approval of Xxxx and National Elevator Industry, Inc. shall create an obligation upon any Employer to make a contribution to the Plan other than the obligation to remit to the Plan (i) the total amount of monies which have been reduced from the wages otherwise payable to elevator mechanics and helpers pursuant to Employee Elective Deferrals and (ii) Non- Elective Annuity Contributions.
Amendment by Trustees. Upon the resignation, death or incapacity of the Initial Trustee, the Trustees may amend, supplement, restate or otherwise modify this Agreement only in accordance with the following procedure:
(i) The proposed Amendment must be adopted by a unanimous vote of the Trustees at a time when the Family Trustee for each Group is in office or each Group entitled to elect a Group Trustee hereunder has done so. The Trustees shall give notice of the proposed Amendment to all Beneficiaries.
(ii) Beneficiaries holding Trust Certificates representing more than 50% of the Stock held by the Trustees hereunder (the “Required Percentage”) must approve the proposed Amendment within forty-five (45) days from the time of giving notice, otherwise, it will be deemed defeated; provided, however, that if the proposed Amendment affects any provision of this Agreement which requires the action of Beneficiaries holding Trust Certificates representing a greater percentage of the Stock held hereunder than the Required Percentage, such proposed Amendment must be approved by Beneficiaries holding Trust Certificates representing at least such greater percentage of the Stock held hereunder.
Amendment by Trustees. Despite Subsection 12.01, the Trustees of the Board may amend this Agreement in whole or in part, their agreement to do so evidenced by an instrument in writing, to the extent necessary to maintain any preferred tax status of the Trust Fund including without limitation qualification as an ELHT.
