Dispositive Provisions. The Eligible Lender Trustee shall pay to the Indenture Trustee, promptly upon receipt thereof, any and all income and payments (other than payments made by the Grantor) received by the Eligible Lender Trustee in connection with the Trust Estate, including without limitation the following payments to be received with respect to Trust Student Loans: scheduled payments of principal, interest, late fees and penalties by borrowers, prepayments of principal and interest by borrowers; all grants, subsidies, donations, Interest Subsidy Payments, and Special Allowance Payments, and all default and other claim payments made by any Guarantor.
Dispositive Provisions. After payment of the expenses described in Section 6.01 hereof, the Trustee shall distributethe Trust as set forth in this Section 2.
Dispositive Provisions. The Trustee shall manage, invest, and reinvest and, after payment of the expenses described in Section 4.1 hereof, distribute the Trust fund as follows:
Dispositive Provisions. After payment of the expenses described in Section 6.01 hereof, the Trustee shall distribute the Master Trust as provided in this Article II. Except for payments or disbursements made pursuant to Section 2.01 or as otherwise permitted under paragraph 50.82(a)(8) of Title 10 of the Code of Federal Regulations, no disbursement or payment may be made from the Master Trust until written notice of the intention to make disbursement or payment has been given to the Nuclear Regulatory Commission Director of the Office of Nuclear Regulation, or Director of the Office of Nuclear Material Safety and Safeguards, as applicable, at least 30 working days before the date of the intended disbursement or payment.
Dispositive Provisions. During the trust term, the trustee shall hold the trust estate as the principal of a separate trust for the primary benefit of the settlor. The trustee, shall when and as directed by the trust protector (pursuant to Article II E hereinafter) pay to the settlor so much, including all or any portion, of the net income and principal of the trust as the trust protector deems necessary or advisable for any purpose The settlor shall not have any current right to require the distribution of income whether current or accumulated or principal. Any net income not paid to the settlor as provided in this Subdivision (A) shall be accumulated and added to the principal of the trust.
Dispositive Provisions. The Trustee shall pay to the Grantor, promptly upon receipt thereof, any and all income and payments (other than payments made by the Grantor) received by the Trustee in connection with the Trust Estate, including without limitation the following payments to be received with respect to Student Loans: scheduled payments of principal, interest, late fees and penalties by borrowers, prepayments of principal and interest by borrowers; all grants, subsidies, donations, Interest Subsidy Payments, and Special Allowance Payments; and all default and other claim payments made by any Guarantor.
Dispositive Provisions. The Trustees shall hold the property for the sole benefit of the Beneficiary and the Trustees shall hold, manage, and invest the trust property, and shall collect and receive the income, and after deducting all necessary expenses incident to the administration of the Trust, shall dispose of the corpus and income of the Trust as follows:
(a) the Trustees shall pay the entire net income of the Trust, annually or more frequently as the Trustees in their sole discretion shall determine, to the Beneficiary of the Trust; (b) notwithstanding anything contained to the contrary, the Trustees shall pay over to the Beneficiary, solely out of the corpus of the Trust, at any time and from time to time, the sum or sums as the Trustees shall deem necessary or appropriate in their sole discretion; and (c) on the termination date, the Trustees shall pay the corpus together with any undistributed income to the Beneficiary.
Dispositive Provisions. The trustee shall hold, manage, invest and reinvest the trust property and shall collect and receive the income thereof, if any and after deducting all and necessary expenditures incident to the administration of the trust, including the prompt payment of any legal fees incident to the establishment of this trust, shall dispose of the corpus and income of the trust, if any, as follows: For so long as the grantors reside elsewhere than at a skilled nursing facility, nursing home, or other like facility, or are not eligible for and receiving long term health care at home as defined in paragraphs "2(b)" and "2(c)" of this trust agreement, the trustee shall pay to or for the benefit of the grantors all of the net income of the trust, if any, in such proportion and in such amounts as the trustee, in and at his or her sole and absolute discretion, deems necessary to maintain the present standard of living of the grantors, together with such sums from the trust principal as the trustee, in his sole and absolute discretion, deems appropriate for such purposes. Upon the admission of a Grantor as a permanent or chronic care resident or patient in a skilled nursing facility, nursing home, or other like facility, or upon a Grantor being eligible for and receiving health care at home on a planned, on-going and permanent basis where the said Grantor would otherwise be eligible for nursing home placement, all distributions of income and principal to said Grantor shall cease and said Grantor shall have no further legal or beneficial interest in this trust. Payments as aforesaid, however, shall continue to the other Grantor who is not a permanent or chronic care resident or patient in a skilled nursing facility, or other like facility, and is not eligible for and receiving health care at home on a planned, on-going and permanent basis, until such time as said other Grantor either becomes a permanent or chronic care resident or patient in a skilled nursing facility, nursing home, or other like facility, or becomes eligible for and receives health care at home on a planned, ongoing and permanent basis where the said Grantor would otherwise be eligible for nursing home placement, or dies, whichever shall first occur, at which time this trust shall terminate and the principal, and other assets, accumulated income, if any, distributed as hereinafter provided. For the purposes of this Trust, eligibility for nursing home placement shall be based upon a written evaluation complete...
Dispositive Provisions. The Trustee shall hold and dispose of the Trust Estate as follows:
(a) The Trustee agrees to hold the Trust Estate until the termination of the Trust as provided herein.
(b) On the earlier to occur of the first day of (i) the seventh month following the Beneficiary’s separation from service (i.e., on August 1, 2012; the “Scheduled Delivery Date”) and (ii) the death of the Beneficiary, the Trustee shall pay the Trust Estate to the Beneficiary provided, however, that the Trustee shall not make any such payment or delivery until it has received from the Grantor a written statement of the required Applicable Withholding on the Cash Termination Payment, determined as provided in the Agreement, whereupon the Trustee shall pay over to the Grantor a dollar amount equal to such Applicable Withholding, following which the Trustee shall distribute and pay over to the Beneficiary or his estate, as the case may be, the remaining cash portion of the Trust Estate. Grantor shall provide the Trustee with the written statement of the Applicable Withholding no later than the Actual Payment Date. Should Grantor fail to advise the Trustee of the Applicable Withholding by the Actual Payment Date, the Trustee shall be authorized to withhold an amount equal to the then statutory withholding requirements on bonus compensation, pay-over such amount to Grantor, and release the balance of the Cash Termination Payment to the Beneficiary or his estate, as the case may be.
Dispositive Provisions. The Trustee shall, from time to time, and at least on an annual basis, each calendar year, on such date as chosen by the Trustee, distribute the greater of (a) eighty percent (80%) of the trust income and (b) the minimum amount required by section 4942 of the Internal Revenue Code of 1986, as amended (the “Code”), to the City of Newburyport, a municipal corporation. To the extent required by section 4945 of the Code, said distribution shall be made exclusively for one or more Exempt Purposes (as defined in Section 6A.2 below), and the receipt thereof shall be certified in writing by both the then City Treasurer and the City Auditor, with said receipt and certification being filed with the City Clerk on an annual basis. Subject to the foregoing provisions of this Section 6, the remaining twenty percent (20%) of the trust’s annual income shall be added to the trust principal and accumulated.
