Common use of AMENDMENTS OF TRUST Clause in Contracts

AMENDMENTS OF TRUST. Section 27.1. Prior to a Change in Control, the Company may amend this ------------- Trust Agreement by an instrument in writing signed by an authorized officer of the Company provided that no such amendment shall make this Trust revocable or divert any part of the Trust to purposes other than payment of Benefits, payments under Sections 2 or 5 of this Trust Agreement, or defrayal of reasonable expenses of administering the Participating Plans. The Trustee's consent shall be required for any amendment affecting its duties, responsibilities or rights. No amendment affecting the duties, responsibilities or rights of the Trustee shall take effect until thirty (30) days after a copy of said amendment is furnished to the Trustee or, if the Trustee gives notice of resignation within such 30 day period, until the resignation becomes effective, provided, that the Trustee may, in writing, waive the 30 day requirement.

Appears in 2 contracts

Samples: Trust Agreement (Lyondell Petrochemical Co), Trust Agreement (Lyondell Chemical Co)

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AMENDMENTS OF TRUST. Section 27.1. Prior to a Change in Control, the Company may amend this ------------- Trust Agreement by an instrument in writing signed by an authorized officer of the Company provided that no such amendment shall make this Trust revocable or divert any part of the Trust to purposes other than payment of Supplemental Benefits, payments under Sections 2 or 5 of this Trust Agreement, or defrayal of reasonable expenses of administering the Participating Plans. The Trustee's ’s consent shall be required for any amendment affecting its duties, responsibilities or rights. No amendment affecting the duties, responsibilities or rights of the Trustee shall take effect until thirty (30) days after a copy of said amendment is furnished to the Trustee or, if the Trustee gives notice of resignation within such 30 day period, until the resignation becomes effective, provided, that the Trustee may, in writing, waive the 30 day requirement.

Appears in 1 contract

Samples: Trust Agreement (Lyondell Chemical Co)

AMENDMENTS OF TRUST. Section 27.1. Prior to a Change in Control, the Company may amend this ------------- Trust Agreement by an instrument in writing signed by an authorized officer of the Company provided that no such amendment shall make this Trust revocable or divert any part of the Trust to purposes other than payment of Supplemental Benefits, payments under Sections 2 or 5 of this Trust Agreement, or defrayal of reasonable expenses of administering the Participating Plans. The Trustee's consent shall be required for any amendment affecting its duties, responsibilities or rights. No amendment affecting the duties, responsibilities or rights of the Trustee shall take effect until thirty (30) days after a copy of said amendment is furnished to the Trustee or, if the Trustee gives notice of resignation within such 30 day period, until the resignation becomes effective, provided, that the Trustee may, in writing, waive the 30 day requirement.

Appears in 1 contract

Samples: Benefit Plans Trust Agreement (Lyondell Chemical Co)

AMENDMENTS OF TRUST. Section 27.1. Prior to a Change in Control, the Company may amend this ------------- Trust Agreement by an instrument in writing signed by an authorized officer of the Company provided that no such amendment shall make this Trust revocable or divert any part of the Trust to purposes other than payment of Benefits, payments under Sections 2 or 5 of this Trust Agreement, or defrayal of reasonable expenses of administering the Participating Plans. The Trustee's ’s consent shall be required for any amendment affecting its duties, responsibilities or rights. No amendment affecting the duties, responsibilities or rights of the Trustee shall take effect until thirty (30) days after a copy of said amendment is furnished to the Trustee or, if the Trustee gives notice of resignation within such 30 day period, until the resignation becomes effective, provided, that the Trustee may, in writing, waive the 30 day requirement.

Appears in 1 contract

Samples: Trust Agreement (Lyondell Chemical Co)

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AMENDMENTS OF TRUST. Section 27.1. Prior to a Change in Control, the Company may amend this ------------- ------------ Trust Agreement by an instrument in writing signed by an authorized officer of the Company provided that no such amendment shall make this Trust revocable or divert any part of the Trust to purposes other than payment of Supplemental Benefits, payments under Sections 2 or 5 of this Trust Agreement, or defrayal of reasonable expenses of administering the Participating Plans. The Trustee's consent shall be required for any amendment affecting its duties, responsibilities or rights. No amendment affecting the duties, responsibilities or rights of the Trustee shall take effect until thirty (30) days after a copy of said amendment is furnished to the Trustee or, if the Trustee gives notice of resignation within such 30 day period, until the resignation becomes effective, provided, that the Trustee may, in writing, waive the 30 day requirement.

Appears in 1 contract

Samples: Lyondell Petrochemical Co

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