Continuance of Tort Claims Trust for Winding Up Sample Clauses

Continuance of Tort Claims Trust for Winding Up. (a) After the termination of the Tort Claims Trust and for the purpose of liquidating and winding up the affairs of the Tort Claims Trust, the Tort Claims Trustee shall continue to act as such until all duties under the Plan and this Tort Claims Trust Agreement have been fully performed. Upon distribution of all of the assets of the Tort Claims Trust, or the proceeds thereof, the Tort Claims Trustee shall hold the books, records and files delivered to or created by the Tort Claims Trustee for a period of four years after the last distribution of assets from the Tort Claims Trust is made. All costs and expenses associated with the storage of such documents shall be paid by the Tort Claims Trust. At the Tort Claims Trustee’s discretion, all such records and documents may be destroyed at any time after four years from the distribution of all of the assets of the Tort Claims Trust. Except as otherwise specifically provided herein, upon the distribution of all of the assets of the Tort Claims Trust, the Tort Claims Trustee shall have no further duties or obligations hereunder except to (a) account and report as provided in Section 3.7 hereof and (b) perform such other acts as may be required by law.
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Related to Continuance of Tort Claims Trust for Winding Up

  • Administrative Proceedings With a view to administering in a consistent, impartial, and reasonable manner all measures of general application affecting matters covered by this Agreement, each Party shall ensure that in its administrative proceedings applying measures referred to in Article 73 to particular persons or goods of the other Party in specific cases that:

  • Administrative Agent May File Proofs of Claim In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise:

  • Application of Trust Money The Trustee shall hold in trust money or U.S. Government Obligations deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from U.S. Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of and interest on the Securities.

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  • Termination of Agreement, Resignation, or Removal of Custodian Either party may terminate this agreement at any time by giving written notice to the other. We can resign as custodian at any time effective 30 days after we send written notice of our resignation to you. Upon receipt of that notice, you must make arrangements to transfer your Xxxx XXX to another financial organization. If you do not complete a transfer of your Xxxx XXX within 30 days from the date we send the notice to you, we have the right to transfer your Xxxx XXX assets to a successor Xxxx XXX trustee or custodian that we choose in our sole discretion, or we may pay your Xxxx XXX to you in a single sum. We will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section. If this agreement is terminated, we may charge to your Xxxx XXX a reasonable amount of money that we believe is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against your Xxxx XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in your Xxxx XXX If we are a nonbank custodian required to comply with Regulations section 1.408-2(e) and we fail to do so or we are not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require us to substitute another trustee or custodian. We may establish a policy requiring distribution of the entire balance of your Xxxx XXX to you in cash or property if the balance of your Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.

  • Notification of Incidents, Claims or Suits 21 CONTRACTOR shall report to COUNTY:

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  • Application of Trust Funds (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date.

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