Assignment of Trust Assets and Funding of the Distribution Trust Sample Clauses

Assignment of Trust Assets and Funding of the Distribution Trust. The Trust Assets Assignors hereby grant, release, assign, transfer and deliver, on behalf of the Trust Beneficiaries, the Trust Assets to the Trustee as of the Effective Date, free and clear of all liens, claims, encumbrances and interests, in trust for the benefit of the Trust Beneficiaries to be applied as specified in this Agreement, the Joint Plan and the Cal TD Plan, and the Settlement Agreement. In no event shall any part of the Trust Assets revert to or be distributed to any of the Joint Debtors or their creditors, except as expressly provided in this Agreement. The Trustee will determine, in its sole discretion, what portion of any cash derived from the Trust Assets will be initially distributed to the Trust Beneficiaries and what portion will be used to fund the Distribution Trust and to pay the costs and expenses of the Trustee or fees, costs and expenses of the Trust Professionals.
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