Common use of Amendment to Trust Agreement Clause in Contracts

Amendment to Trust Agreement. 70Section 1. Amendment by Parties Articles I, VI, XI, Sections 1-4, inclusive and 7-9, inclusive of Article XIII and Exhibit A of this Agreement and Declaration of Trust may be amended in any respect, not specifically prohibited by Section 2 of this Article, from time to time by written instrument duly approved and executed by seventy- five percent (75%) in number of the individual Directors in office at the time. This Agreement and Declaration of Trust may otherwise be amended in any respect, not specifically prohibited in this Agreement, from time to time by written instrument duly executed and approved by 75% in number of the individual Directors in office at the time and ratified and approved in writing by at least 51% of the individual Employer parties (who at the time were obligated to make Contributions to the Plan within the 30 day period prior thereto and are not at the time delinquent as to contribution payments hereunder), and by at least 51% of the individual Union parties at the time. Upon ratification and approval by the last required signature thereto any such instrument constituting an amendment shall be annexed hereto. If such amendment does not by its own terms fix the effective date thereof then the Directors in their sole discretion shall have full power to fix such effective date by resolution provided that in such event such effective date shall not be a date prior to the ratification and approval by the last required signature thereto. Notwithstanding the foregoing, the rights of the Directors to amend provisions of this Agreement and Declaration of Trust by resolution, to the extent authorized by specific provisions of this Agreement and Declaration of Trust, shall remain in effect unless such authorization is amended in accordance with the terms of this Article X.