Application of Trust Property. You are only entitled to instruct us to take any action in relation to the Trust Property that you would otherwise be entitled to instruct us to take pursuant to the terms of this Agreement (disregarding this Schedule 2) and we will only be required to take any such action to the same extent that we would be required to take pursuant to the terms of this Agreement (disregarding this Schedule 2).
Application of Trust Property. The Receivables Trustee shall make all calculations as may be necessary or desirable for the purposes of distributing Trust Property in the manner and order of priority set out in Clause 5.
Application of Trust Property. The Trust is only entitled to instruct the Custodian to take any action in relation to the Trust Property that the Trust would otherwise be entitled to instruct the Custodian to take pursuant to the terms of this Agreement (disregarding this Schedule B) and the Custodian will only be required to take any such action to the same extent that the Custodian would be required to take pursuant to the terms of this Agreement (disregarding this Schedule B).
Application of Trust Property. (a) The Liquidating Trustee shall distribute all Trust Property in the order and reflecting the priorities set forth below:
(i) FIRST, to pay all the liabilities, costs and expenses of the Liquidating Trust including: (A) the expenses and/or compensation due and payable to the Liquidating Trustee and the members of the Trust Advisory Board, (B) any indemnification obligations, or reserves for same, owed pursuant to Section 5.07, and (C) the reimbursement for any and all costs, expenses and liabilities incurred by the Liquidating Trustee or the Trust Advisory Board in connection with the performance of their duties under this Agreement, including payment of fees, costs and expenses of Trust Professionals in accordance with Section 3.05 hereof.
(ii) SECOND, to make Distributions to the Beneficiary in accordance with the terms, provisions and priorities set forth in the Plan, this Agreement, the WFCF Pledge, the Secured Notes Pledge and the Trustee Agreements.
(b) The Liquidating Trustee may withhold from amounts distributable to any Person any and all amounts, determined in the Liquidating Trustee’s reasonable discretion, required by any law, regulation, rule, ruling, directive or other governmental requirement.
(c) Notwithstanding anything to the contrary herein, prior to making any Distribution to the Beneficiary, the Liquidating Trustee may retain such amounts as are reasonably necessary to fund and maintain the Expense Reserve.
Application of Trust Property. 13.1 The Trustee shall be obliged to apply the Trust Property for the purposes of the Trust and for no other purpose. For the avoidance of doubt, the Trustee shall not be permitted to apply the Trust Property to satisfy expenses.
13.2 All amounts payable to the Class B Shareholders pursuant to the provisions of this Trust Deed shall be paid mutatis mutandis in accordance with the provisions of the articles of association of Royal Dutch Shell as if a payment out of the Trust to a Class B Shareholder were a dividend payable on the Class B Shares.
13.3 Each payment by the Trustee to a Class B Shareholder shall be made after making such deductions or withholdings as are necessary to meet the requirements of any legislation that may from time to time compel the Trustee to withhold any amounts, whether in respect of taxation or otherwise.
13.4 The Trustee may appoint, and maintain the appointment of, a paying agent for the purposes of administering payments to Class B Shareholders. The identity of the paying agent and the terms on which the paying agent is appointed shall be agreed with the Company and Royal Dutch Shell in advance of any appointment. The Trustee shall, upon the request of the Company or Royal Dutch Shell to do so, terminate the appointment of any such paying agent.
Application of Trust Property. The Receivables Trustee shall make all calculations as may be necessary or desirable for the purposes of distributing Trust Property in the manner and order of priority set out in Clause 6 (Distributions and Calculations in Respect of Collections) as such Clause may be amended, supplemented or varied from time to time in the manner provided herein. Where any income is so allocated to or applied for the benefit of any Beneficiary, that Beneficiary shall be absolutely beneficially entitled to such income and, notwithstanding any other provisions of this Deed or any Supplement, nothing contained in this Deed or any Supplement shall operate to constitute a reallocation of such income to any other Beneficiary.
Application of Trust Property. The Trust Property shall be held and applied for or towards the general purposes of the Community and both capital and income shall without distinction be so applicable.
Application of Trust Property
