Common use of Appointment of Successor Clause in Contracts

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 10 contracts

Samples: Rabbi Trust Agreement (PNC Financial Services Group, Inc.), Trust Agreement (Acushnet Holdings Corp.), Rabbi Trust Agreement (MSC Software Corp)

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Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company the Corporation may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company the Corporation or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company the Corporation shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 5 contracts

Samples: Rabbi Trust Agreement (Peoples Bancorp Inc), Bonus Deferral Agreement (Tremont Corporation), Agreement to Defer Bonus Payment (Nl Industries Inc)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) 12 hereof, the Company may appoint appoint, subject to Section 12, any third party, such as a bank trust department or other third party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteesuccessor trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 Section 9 and 8 10 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 4 contracts

Samples: Grantor Trust Agreement (Alcoa Corp), Grantor Trust Agreement (Alcoa Corp), Grantor Trust Agreement (Lci Industries)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a9(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 Section 4 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 4 contracts

Samples: Trust Agreement (Ch2m Hill Companies LTD), Trust Agreement (Ch2m Hill Companies LTD), Trust Agreement (Ch2m Hill Companies LTD)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereofb)hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 3 contracts

Samples: Deferred Compensation Trust Agreement (Marshall & Ilsley Corp/Wi/), Deferred Compensation Trust Agreement (Marshall & Ilsley Corp/Wi/), Deferred Compensation Trust (Marshall & Ilsley Corp/Wi/)

Appointment of Successor. (a1) If the Trustee resigns or is removed in accordance with Section 10(a10(1) or (b2) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b2) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 3 contracts

Samples: Deferred Compensation Agreement (Harris & Harris Group Inc /Ny/), Trust Agreement (Harris & Harris Group Inc /Ny/), Deferred Compensation Agreement (Harris & Harris Group Inc /Ny/)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall will be effective when accepted in writing by the new Trustee, who shall will have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall will execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall will not be responsible for and Company shall will indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 2 contracts

Samples: Rabbi Trust Agreement (LNB Bancorp Inc), Rabbi Trust Agreement (Kinder Morgan Holdco LLC)

Appointment of Successor. (a) 10.1 If the Trustee resigns resigns, or is removed removed, in accordance with Section 10(a) 9.1 or (b) 9.2 hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal, except that such bank trust department or other party may not be a lender or an affiliate of a lender to the Company. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) 10.2 The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereofTrustee. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes the successor Trustee.

Appears in 2 contracts

Samples: Supplemental Employee Retirement Plan (K2 Inc), Supplemental Employee Retirement Plan (Anthony Industries Inc)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b10(b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 7, and 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 2 contracts

Samples: Rabbi Trust Agreement (Advanced Technical Products Inc), Rabbi Trust Agreement (Veritas DGC Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with pursuant to the provisions of Section 10(a) or (b) X hereof, Company Bank may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, to serve as a successor to replace Trustee upon resignation or removalhereunder. The appointment of a successor Trustee shall be effective when accepted in writing by the new Trustee, who trustee. The new Trustee shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 VII and 8 VIII hereof. The successor Trustee shall not be responsible for and Company Bank shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 2 contracts

Samples: Rabbi Trust Agreement (United Financial Inc), Rabbi Trust Agreement (Peoples Bancorp of North Carolina Inc)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 2 contracts

Samples: Trust Agreement (Chartwell Re Corp), Trust Agreement (Inphynet South Broward Inc)

Appointment of Successor. (a) If the Trustee resigns (or is removed removed) in accordance with Section section 10(a) or (b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted upon acceptance in writing by the new Trustee, who shall have all of the rights and powers of the former the Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections sections 7 and 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes the successor Trustee.

Appears in 2 contracts

Samples: Deferred Compensation Plan Trust (Cna Surety Corp), Deferred Compensation Plan Trust (Cna Surety Corp)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof12, the Company may appoint appoint, subject to Section 12, any third partyparty that is not an affiliate of the Company, such as a bank trust department or other party that may be granted corporate trustee powers under state lawlaw with a market capitalization exceeding $100,000,000, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who successor Trustee shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assetsTrust. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 Section 9 and 8 hereof10. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past eventevent related to the Trust or the Fund, or any condition existing with respect to the Trust or the Fund at the time it becomes successor Trustee.

Appears in 2 contracts

Samples: Rabbi Trust Agreement (Oshkosh Corp), Grantor Trust Agreement (Oshkosh Corp)

Appointment of Successor. (a) Section 11.1 If Trustee resigns or is removed in accordance with Section 10(a) 10.1 or (b) 10.2 hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) Section 11.2 The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 Articles VII and 8 VIII hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 2 contracts

Samples: Rabbi Trust Agreement (Tech Data Corp), Rabbi Trust Agreement (Visant Corp)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust Trust department or other party that may be granted corporate trustee Trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 2 contracts

Samples: Trust Agreement (Commerce Bancshares Inc /Mo/), Trust Agreement (Commerce Bancshares Inc /Mo/)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a9(a) or (b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts act of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 Section 6 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 2 contracts

Samples: Trust Agreement (Millennium Chemicals Inc), Trust Agreement (Millennium Chemicals Inc)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) 11 hereof, the Company may appoint appoint, subject to Section 11, any third party, such as a bank trust department or other third party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteesuccessor trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 9 and 8 10 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Deferred Compensation Plan Trust Agreement (Darden Restaurants Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, respectively, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon such resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for for, and the Company shall indemnify and defend the successor Trustee from from, any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, event or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Deferred Compensation Plan Trust Agreement (Polaroid Corp)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company Fulton may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company Fulton or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company Fulton shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it if becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Fulton Financial Corp)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Master Rabbi Trust Agreement (Harris Corp /De/)

Appointment of Successor. (a) a. If the Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company the Employer may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company the Employer or the successor Trustee to evidence the transfer. (b) b. The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections Section 7 and 8 hereof. The successor Trustee shall not be responsible for for, and Company the Employer shall indemnify and defend the successor Trustee from form, any claim or liability resulting from any action or inaction of any prior Trustee or from form any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Rabbi Trust Agreement (TCF Financial Corp)

Appointment of Successor. (a) a. If the Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company the Employer may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company the Employer or the successor Trustee to evidence the transfer. (b) b. The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections Section 7 and 8 hereof. The successor Trustee shall not be responsible for for, and Company the Employer shall indemnify and defend the successor Trustee from from, any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Deferred Compensation Plan (Nco Group Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument instruments necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.liability

Appears in 1 contract

Samples: Trust Agreement (Guardsman Products Inc)

Appointment of Successor. (a) If Trustee resigns resignes or is removed in accordance with Section 10(a11(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Petro Stopping Centers L P)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a9(a) or (b) hereofb)hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 Section 4 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Ch2m Hill Companies LTD)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) 10 hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the -8- 9 Company or the successor Trustee to evidence the transfer. (b) . The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Chicago Title Corp)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a12(a) or (b) hereof, the Company may appoint any unaffiliated third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, Trustee (including ownership rights in the Trust assets). The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereofthe terms of this Trust Agreement. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Matria Healthcare Inc)

Appointment of Successor. (a) If Trustee resigns (or is removed removed) in accordance with Section 10(a) or (b) hereof, Company Principal Sponsor may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trusteetrustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company Principal Sponsor or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company Principal Sponsor shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (C H Robinson Worldwide Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section Sections 10(a) or (b10(b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for for, and Company shall indemnify and defend the successor Trustee from from, any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Humana Inc)

Appointment of Successor. (a) 11.1 If the Trustee resigns or is removed in accordance with Section 10(a) or (b) 10.1 hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) 11.2 The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 Articles Seven and 8 Eight hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes the successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Harrahs Entertainment Inc)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a9(a) or (b9(b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 6 and 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Deferred Compensation Plan Trust (Applied Extrusion Technologies Inc /De)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a12 (a) or (b) hereof, the Company may appoint appoint, subject to Section 12, another bank, not an affiliate of the Company or any other grantor, or any third party, such as party national banking association with a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor market capitalization exceeding $5 billion to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who successor Trustee shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assetsTrust. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 Section 8 and 8 9 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Deferred Compensation Trust Agreement (Wolverine Tube Inc)

Appointment of Successor. (a1) If Trustee resigns or is removed in accordance with Section 10(a11(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested required by Company or the successor Trustee to evidence the transfer. (b2) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Ivex Packaging Corp /De/)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) 10 hereof, the Company may appoint any third other party, such as a bank trust department or other party that may be granted corporate trustee powers subject to the consent of the Participants whose accounts under state lawthe Plan constitute at least two-thirds of the total amounts credited to Participants under the Plan, as a successor to replace the Trustee upon such resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trusteetrustee, including ownership rights in the Trust assets. The former Trustee trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee trustee to evidence the transfer. (b) The . A successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee trustee shall not be responsible for for, and the Company shall indemnify and defend the successor Trustee from trustee from, any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Trust Agreement (Central Bancorp Inc /Ma/)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not but may, in the discretion of either the successor trustee or Company examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections Section 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, event or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Trust Agreement (NYSE Group, Inc.)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Fresh Choice Inc)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) 12 hereof, the Company may appoint appoint, subject to Section 12, any third party, such as a bank trust department or other third party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteesuccessor trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections 7 8 and 8 10 hereof. The successor Trustee trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Grantor Trust Agreement (Darden Restaurants Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) 10 or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Deferred Compensation Trust Agreement (Contran Corp)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company the Corporation may appoint any third person or any other party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in Trustee with respect to the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company the Corporation or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing shall act in regard to the Trust assets, subject to Sections 7 and 8 hereofin accordance with all the terms of this Trust Agreement. The successor Trustee shall not be responsible for and Company the Corporation shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Bonus Deferral Agreement (Nl Industries Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a11(a) or (b) hereofabove, Company may appoint any third partyqualified corporate fiduciary, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 8 and 8 hereof9 above. The successor Trustee shall not be responsible for for, and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Deferred Compensation Trust Agreement (Stewart Information Services Corp)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not but may, in the discretion of the successor trustee or Company examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections Section 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, event or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Trust Agreement (NYSE Group, Inc.)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) 10 hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (National Golf Properties Inc)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a11(a) or (b11(b) hereof, the Company may shall appoint any third party, such as a bank an entity that holds appropriate trust department or other party that may be granted corporate trustee powers under federal or state law, law as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, event or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Stock Bonus Plan (Mitsubishi Ufj Financial Group Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a11(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify indemnity and defend the successor Trustee from any claim or on liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Nonqualified Deferred Compensation Plan Trust Agreement (Bei Medical Systems Co Inc /De/)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company the Bank may appoint any third party, such as including a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company the Bank or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for for, and Company the Bank shall indemnify and defend the successor Trustee from from, any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Skaneateles Bancorp Inc)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 terms hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Weatherford International LTD)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or department, other party that may be granted corporate trustee powers under state law, or an officer of the Company as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereofTrustee. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Lexington Realty Trust)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a9(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 6 and 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Separation Agreement (Sirius Xm Radio Inc.)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee the Trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for for, and the Company shall indemnify and defend the successor Trustee from from, any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Deferred Compensation Plan Trust Agreement (Dendrite International Inc)

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Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a11(a) or (b) hereof, . Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor successor. Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction Inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Merrill Lynch Nonqualified Deferred Compensation Plan Adoption Agreement (Packaging Dynamics Corp)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine review the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Analog Devices Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with pursuant to the provisions of Section 10(a) or (b) hereof10 hereof and selects a successor Trustee, Company Trustee may appoint any third party, party such as a bank or trust department or other party that may be granted corporate trustee powers under the state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Executive Security Trust Agreement (Semco Energy Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may shall appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removalresignation. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (St Joe Co)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a11(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts act of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Tidewater Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third partyqualified corporate fiduciary, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Employment Agreement (Team Inc)

Appointment of Successor. (a) a. If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in of the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) b. The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (First Litchfield Financial Corp)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, the Company may and Executive acting jointly shall appoint any third party, such as a bank or trust department or other party that may be granted corporate trustee powers under state lawcompany authorized to provide trust services, as a successor to replace the Trustee upon such resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and Section 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Employment Agreement (LTV Corp)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a11(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 8 and 8 9 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Robinson Nugent Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections 5, 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, event or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Trust Agreement (Boston Scientific Corp)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 6 and 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Trust Agreement (Markel Corp)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with pursuant to the provisions of Section 10(a) or (b) X hereof, Company the Bank may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, to serve as a successor to replace Trustee upon resignation or removaltrustee hereunder. The appointment of a successor trustee shall be effective when accepted in writing by the new Trustee, who trustee. The new trustee shall have all of the rights and powers of the former Trusteetrustee, including ownership rights in the Trust assets. The former Trustee trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 VII and 8 VIII hereof. The successor Trustee trustee shall not be responsible for and Company the Bank shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee or trustee from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Rabbi Trust Agreement (Centra Financial Holdings Inc)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a10 (a) or (b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) . The successor Trustee need not examine the records and any acts of any prior Trustee and may retain or dispose of any existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for for, and Company shall indemnify and defend the successor Trustee from from, any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Rabbi Trust Agreement (Universal Foods Corp)

Appointment of Successor. (a) If Trustee resigns (or is removed removed) in accordance with Section 10(a) or (b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested required by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.prior

Appears in 1 contract

Samples: Deferred Compensation Trust Agreement (Monroe Bancorp)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with pursuant to the provisions of Section 10(a) or (b) X hereof, Company Bank may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, to serve as a successor to replace Trustee upon resignation or removaltrustee hereunder. The appointment of a successor trustee shall be effective when accepted in writing by the new Trustee, who trustee. The new trustee shall have all of the rights and powers of the former Trusteetrustee, including ownership rights in the Trust assets. The former Trustee trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 VII and 8 hereof. VIII hereof The successor Trustee trustee shall not be responsible for and Company Bank shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Amb Financial Corp)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) 12 hereof, the Company may appoint appoint, subject to Section 12, any third party, such as a bank trust department or other third party that may be granted corporate trustee powers under TR 712 state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteesuccessor trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections 7 8 and 8 10 hereof. The successor Trustee trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Grantor Trust Agreement (Darden Restaurants Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with pursuant to the provisions of Section 10(a) or (b) X hereof, Company Bank may appoint any third party, such as a bank Bank trust department or other party that may be granted corporate trustee powers under state law, to serve as a successor to replace Trustee upon resignation or removaltrustee hereunder. The appointment of a successor trustee shall be effective when accepted in writing by the new Trustee, who trustee. The new trustee shall have all of the rights and powers of the former Trusteetrustee, including ownership rights in the Trust assets. The former Trustee trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 VII and 8 VIII hereof. The successor Trustee trustee shall not be responsible for and Company Bank shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Rabbi Trust Agreement (United Community Bancorp)

Appointment of Successor. (a) If the Trustee resigns (or is removed removed) in accordance with Section 10(a) or (bSubsection 12(a) hereof, the Company may appoint any third party, such as a bank trust department or other party department, that may be granted validly exercise corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 the terms hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Dte Energy Co)

Appointment of Successor. (a) 10.1 If the Trustee resigns or is removed in accordance with Section 10(a) Article 9.1 or (b) 9.2 hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or upon removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trusteetrustee, including ownership rights in the Trust trust assets. The former Trustee trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee trustee to evidence the transfer. (b) 10.2 The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 6 and 7 and 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Oak Ridger LLC)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b10(b) hereof, the Company may shall appoint any third party, such as a bank an entity that holds appropriate trust department or other party that may be granted corporate trustee powers under federal or state law, law as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, event or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Trust Agreement (Mitsubishi Ufj Financial Group Inc)

Appointment of Successor. (a) If the Trustee resigns (or is removed removed) in accordance with Section section 10(a) or (b) hereof, Company the Employer may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assetsform trustee. The former Trustee shall execute any instrument necessary or reasonably requested by Company the Employer or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company the Employer shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.or

Appears in 1 contract

Samples: Deferred Compensation Plan (Perkins Family Restaurants Lp)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a11(a) or (b11(b) hereof, the Company may shall appoint any third party, such as a bank an entity that holds appropriate trust department or other party that may be granted corporate trustee powers under federal or state law, law as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, event or any condition existing at the time it becomes the successor Trusteetrustee.

Appears in 1 contract

Samples: Stock Bonus Plan (Mitsubishi Ufj Financial Group Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, the affected Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts act of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Dollar Thrifty Automotive Group Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a10 (a) or (b) hereof, Company may must appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Irrevocable Trust Agreement (Interstate Power Co)

Appointment of Successor. (( a) If the Trustee resigns or is removed in accordance with Section 10(a9(a) or (b9(b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (( b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 6 and 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: 1999 Deferred Compensation Plan Trust (Applied Extrusion Technologies Inc /De)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted grant corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Rabbi Trust Agreement (Picis Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(aI l(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts act of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (Maxxim Medical Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(aI I (a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee trust powers under state law, as a successor to replace Trustee upon resignation or removaltrustee. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who which shall have all of the rights and 18 powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument instruments necessary or reasonably requested by Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee trustee shall not be responsible for for, and Company shall indemnify and defend the successor Trustee trustee from and against any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, events or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Directors' Deferred Compensation Plan (Summit Bancorp/Nj/)

Appointment of Successor. (a) If the Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, the Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. (b) The successor Trustee need not examine the records and acts of any acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes the successor Trustee.

Appears in 1 contract

Samples: Rabbi Trust Agreement (La Quinta Properties Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a9(a) or (b) hereof, Company may appoint any third party, such as a bank bank, trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trusteetrustee, who shall have all of the rights and powers of the former Trusteetrustee, including ownership rights in the Trust assets. The former Trustee trustee shall execute any instrument necessary or reasonably requested by the Company or of the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, assets subject to the provisions of Sections 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee or trustee of from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Rabbi Trust Agreement (Post Properties Inc)

Appointment of Successor. (a) If Trustee resigns or is removed in accordance with Section 10(a) or (b) hereof, Company may appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under the state law, as a successor to replace Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the new Trustee, trustee who shall have all of the rights and powers of the former Trusteetrustee, including ownership rights in the Trust assets. The former Trustee trustee shall execute any instrument necessary or reasonably requested by Company or the successor Trustee trustee to evidence the transfer. (b) The successor Trustee trustee need not examine the records and acts of any prior Trustee trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor Trustee trustee shall not be responsible for and the Company shall indemnify and defend the successor Trustee trustee from any claim or liability resulting from any action or inaction of any prior Trustee trustee or from any other past event, or any condition existing at the time it becomes successor Trusteetrustee.

Appears in 1 contract

Samples: Trust Agreement (CDRJ Investments Lux S A)

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