Compensation and Expenses of Trustee and Delaware Trustee Sample Clauses

Compensation and Expenses of Trustee and Delaware Trustee. (a) The Trustee’s compensation and expense reimbursement as described herein shall be payable from the PSAN PI/WD Trust Reserve or, if not sufficient, from the corpus of the PSAN PI/WD Trust, in accordance with the Budget, provided that in no event shall funds contributed by a Participating OEM for payment of liquidated PSAN PI/WD Claims asserted against such Participating OEM, which such funds are to be held by the Trustee in segregated account(s) pursuant to the applicable Participating OEM Contribution Agreement, be used to pay any of the Trustee’s compensation and/or expense reimbursement. The Trustee shall cause the PSAN PI/WD Trust to pay the Delaware Trustee such compensation as agreed to pursuant to a separate fee agreement and any reimbursement to which the Delaware Trustee may be entitled under Section 4.5(b) below and in accordance with the Budget.
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Compensation and Expenses of Trustee and Delaware Trustee. (a) The Trustee shall receive a retainer from the PI Trust for the Trustee’s service as a Trustee in the amount of $50,000 per annum, paid annually. Hourly time, as described below, shall first be billed and applied to the annual retainer. Hourly time in excess of the annual retainer shall be paid by the Trust. For all time expended as Trustee, including attending meetings, preparing for such meetings, and working on projects necessary to carry out the Trust, the Trustee shall receive compensation at the rate of $350 per hour. For all non-working travel time in connection with Trust business, the Trustee shall receive compensation at the rate of $200 per hour. All time shall be computed on a decimal hour basis. The Trustee shall record all hourly time to be charged to the PI Trust on a daily basis. The PI Committee, the NAS Representative, and the FCR shall have the right to review the Trustee’s monthly invoices. The hourly compensation payable to the Trustee hereunder shall be reviewed every year by the Trustee and, after consultation with the members of the PI Committee, the NAS Representative, and the FCR, appropriately adjusted by the Trustee for changes in the cost of living.
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Compensation and Expenses of Trustee and Delaware Trustee. (a) The Trustee shall receive a retainer from the Asbestos Trust for his or her service as a Trustee in the amount of $50,000 per annum, paid annually. Hourly time, as described below, shall first be billed and applied to the annual retainer. Hourly time in excess of the annual retainer shall be paid by the Asbestos Trust. For all time expended as Trustee, including attending meetings, preparing for such meetings, and working on authorized special projects, the Trustee shall receive the sum of $850 per hour. All time shall be computed on a decimal hour basis. The Trustee shall record all hourly time to be charged to the Asbestos Trust on a daily basis. The hourly compensation payable to the Trustee hereunder shall be reviewed every year by the Trustee and, after consultation with the members of the TAC and the FCR, appropriately adjusted by the Trustee for changes in the cost of living. The Delaware Trustee shall be paid such compensation as agreed to pursuant to a separate fee agreement.
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Related to Compensation and Expenses of Trustee and Delaware Trustee

  • Compensation of Trustee Any individual Trustee serving hereunder shall be entitled to: (Choose One) ☐ - No compensation whatsoever. ☐ - Be paid a reasonable fee from the Trust Estate based on the amount of time expended by such Trustee in carrying out his or her duties hereunder. Any corporate Trustee shall be entitled to be paid a fee based upon its fee schedule from time to time that is required to be published.

  • Duties of Trustee (a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.

  • Compensation and Expenses (a) As compensation for sourcing the Series Gallery Drop 116 Asset, the Asset Manager may be granted a sourcing fee equal to 3.57% of the total aggregate amount of Series Gallery Drop 116 membership interests that are sold in the Series’ offering under Regulation A of the Securities Act of 1933, as amended (the “Offering”), which the Asset Manager may waive in its sole discretion.

  • Replacement of Trustee A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section. The Trustee may resign in writing at any time and be discharged from the trust hereby created by so notifying the Company. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in writing. The Company may remove the Trustee if:

  • Warrant Agent’s Remuneration and Expenses The Corporation covenants that it will pay to the Warrant Agent from time to time reasonable remuneration for its services hereunder and will pay or reimburse the Warrant Agent upon its request for all reasonable expenses, disbursements and advances incurred or made by the Warrant Agent in the administration or execution of the duties hereby created (including the reasonable compensation and the disbursements of its Counsel and all other advisers and assistants not regularly in its employ) both before any default hereunder and thereafter until all duties of the Warrant Agent hereunder shall be finally and fully performed. Any amount owing hereunder and remaining unpaid after 30 days from the invoice date will bear interest at the then current rate charged by the Warrant Agent against unpaid invoices and shall be payable upon demand. This Section shall survive the resignation or removal of the Warrant Agent and/or the termination of this Indenture.

  • Appointment of Trustee The Depositor hereby appoints the Trustee as trustee of the Trust, effective as of the date hereof, to have all the rights, powers and duties set forth herein.

  • Express Powers of Trustee Without in any way limiting the powers and discretions conferred upon the Trustee by the other provisions of this Agreement or by law, the Trustee is expressly authorized and empowered:

  • Resignation of Trustee Any Trustee hereunder may resign by a notice in writing delivered to the Grantor, if the Grantor is then living, and, after the Grantor’s death, to all current Beneficiaries of the Trust.

  • Removal of Trustee The Trustee may be removed at any time, by an instrument or concurrent instruments in writing delivered (a) to the Trustee and to the Issuer and the Company, and signed by the owners of a majority in aggregate principal amount of Bonds then Outstanding, or (b) to the Trustee and the owners of all Bonds then Outstanding, and signed by the Issuer and the Company.

  • A-E Compensation and Extra Work 1.5.1. For the PROJECTS/SERVICES authorized under this CONTRACT, A-E shall be compensated in accordance with the following:

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