Distributions from Trust Sample Clauses

Distributions from Trust. Distributions from the Beneficiary’s Sub-trust account may be made during the life of the Beneficiary in accordance with the provisions of the Trust and as follows: 1. Distributions shall be made for the sole benefit of the Beneficiary but never directly payable to the Beneficiary. 2. Disbursements will be reviewed and approved on an individual basis, and in accordance with the guidelines set forth in the Welcome Handbook, as amended from time to time. 3. The Grantor recognizes that all distributions are made by the Trustee in accordance with directions from the Trustor, in its sole discretion. With this in mind, the Grantor may express desires as to how assets might be used on behalf of the Beneficiary in the Trust Plan (Section H). The Trustor will also consider any Individual Support Plan or Treatment Plan that may be in place for the Beneficiary when reviewing a distribution request. 4. If the Beneficiary’s residence changes from Oregon to another state, distributions may cease until appropriate arrangements can be made, within the sole discretion of the Trustor, including, but not limited to: a) The in-kind transfer of the sub-account property directly to a comparable 501(c)(3) tax- exempt pooled trust serving the geographic location to which the Beneficiary has moved. b) The continued administration of the Beneficiary’s sub-account by the Trustor and the Trustee in accordance with the applicable laws of the state to which the Beneficiary moves. 5. No disbursements may be made after the death of a Beneficiary, including funeral or cremation expenses. Beneficiaries are encouraged to prearrange for these services and may use Trust funds for that purpose.

Distributions from Trust. The Committee may at any time prior to a Change of Control direct that the Shares and any other property (“Non-Share Interests”) credited to a Participant’s Share Award Account be distributed from the Trust. If not earlier distributed in accordance with the foregoing sentence, upon the termination of a Participant’s employment prior to a Change of Control, such Participant (or, in the event of his death, his Beneficiary) shall be entitled to a distribution from the Trust of all Shares and Non-Share Interests credited to his Share Award Account; provided that, so long as such direction shall not cause the Company or its Subsidiaries to breach any covenant or otherwise incur a default under any credit or other financing agreement to which it is a party, the Company may direct the Trustee to pay the Participant (or his Beneficiary) the Cash Value of such Shares in lieu of a distribution in Shares. Notwithstanding the foregoing, in the case of any Participant whose employment terminated prior to the Original Restatement Date and, as of the Original Restatement Date, whose Share Award Account is credited with Shares, such Shares and Non-Share Interests credited to such Account shall be distributed to such Participant as soon as administratively practicable following the Original Restatement Date, but in any event, no later than one year from such Date.

Distributions from Trust. 2.01 The Company shall deliver to Trustee a schedule (the "Distribution Schedule") that indicates the number of shares to be distributed in respect of each Qualified Participant or his or her beneficiaries, that provides a formula or other instructions acceptable to the Trustee for determining the shares distributable, the form in which such benefit is to be distributed, and the time of distribution. Except as otherwise provided herein, Trustee shall make distributions to a Qualified Participant or his or her beneficiaries in accordance with such Distribution Schedule. The Trustee shall make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the distribution of benefits pursuant to the terms of any written agreement between the Company and the Qualified Participant and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by the Company. 2.02 The entitlement of a Qualified Participant or his or her beneficiaries to benefits under this Trust shall be determined by the Company or such party as it shall designate, and any claim for such benefits shall be considered and reviewed under the procedures set out in the written agreement between the Company and such Qualified Participant. 2.03 The Company may distribute benefits directly to the Qualified Participant (or beneficiaries) as benefits become due under the terms of the written agreement between the Company and Qualified Participant. The Company shall notify the Trustee to distribute benefits directly to the Qualified Participant prior to the time benefits are due. In addition, if the principal of the Trust, and any dividends or earnings thereon, are insufficient for payment of benefits, in accordance with the terms of the written agreement between the Company and the Qualified Participant, the Company shall supplement the balance of each such payment as it falls due. The Trustee shall notify the Company if principal and dividends or earnings are insufficient to make the required distribution of benefits following receipt of the Company's notice to distribute benefits.

Distributions from Trust. Upon the termination of a Participant’s employment prior to a Change of Control and on or after January 1, 2005, such Participant (or, in the event of his death, his Beneficiary) shall be entitled to distribution from the Trust of all Shares and any other property (“Non-Share Interests”) credited to his Share Award Account; provided that, so long as such direction shall not cause the Company or its Subsidiaries to breach any covenant or otherwise incur a default under any credit or other financing agreement to which it is a party, the Company may direct the Trustee to pay the Participant (or his Beneficiary) the Cash Value of such Shares in lieu of a distribution in Shares. Such distribution shall be made in a single lump sum ten (10) business days following the Participant’s termination of employment, except that, if the Participant is a “key employee” within the meaning of 416(i) of the Code, such lump sum payment shall be made six months following the date of the Participant’s termination of employment.

Distributions from Trust. The Plan Administrator may at any time prior to a Change of Control direct that the Shares and any other property ("Non-Share Interests") credited to a Participant's Share Award Account be distributed from the Trust. If not earlier distributed in accordance with the foregoing sentence, upon the termination of a Participant's membership on the ASI Board, other than a termination for cause, prior to a Change of Control, such Participant (or, in the event of his death, his Beneficiary) shall be entitled to a distribution from the Trust of all Shares and Non-Share Interests credited to his Share Award Account. In the event that a Participant's membership on the Board is terminated for cause, such Participant shall forfeit all interest to his or her Share Award Account and any Shares in such account shall revert back to ASCI.

Distributions from Trust. 2.01 The Company shall deliver to Trustee a schedule (the "Distribution Schedule") that indicates the number of shares to be distributed in respect of each Management Employee or his or her beneficiaries), that provides a formula or other instructions acceptable to the Trustee for determining the shares distributable, the form in which such benefit is to be distributed, and the time of distribution. Except as otherwise provided herein, Trustee shall make distributions to a Management Employee (or his or her beneficiaries) in accordance with such Distribution Schedule. The Trustee shall make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the distribution of benefits pursuant to the terms of any written agreement between the Company and the Management Employee and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by the Company. 2.02 The entitlement of a Management Employee (or his or her beneficiaries) to benefits under this Trust shall be determined by the Company or such party as it shall designate, and any claim for such benefits shall be considered and reviewed under the procedures set out in the written agreement between the Company and Management Employee. 2.03 The Company may distribute benefits directly to the Management Employee (or beneficiaries) as benefits become due under the terms of the written agreement between the Company and Management Employee. The Company shall notify the Trustee to distribute benefits directly to the Management Employee prior to the time benefits are due. In addition, if the principal of the Trust, and any dividends or earnings thereon, are insufficient for payment of benefits, in accordance with the terms of the written agreement between the Company and the Management Employee, the Company shall supplement the balance of each such payment as it falls due. The Trustee shall notify the Company if principal and dividends or earnings are insufficient to make the required distribution of benefits following receipt of the Company's notice to distribute benefits.

Distributions from Trust. On February 1 of each calendar year after 2005, the Trustee shall distribute to each Participant identified by the Company as having elected (in accordance with the terms of the Plan) annual distributions of amounts related to dividends payable on Shares an amount equal to the balance in the Participant’s Dividend Sub-Account. Upon the termination of a Participant’s membership on the Board from and after January 1, 2005, other than a termination for cause, prior to a Change of Control, such Participant (or, in the event of his death, his Beneficiary) shall be entitled to a distribution from the Trust of all Shares and any other property (“Non-Share Interests”) credited to his Share Award Account, based on the value of such Share Award Account on the date of such termination of Board membership. Such distribution shall be made in a single lump sum ten (10) business days following the Participant’s termination of Board membership. In the event that a Participant’s membership on the Board is terminated for cause, such Participant shall forfeit all interest to his or her Share Award Account and any Shares in such account shall revert back to the Company.

Distributions from Trust. On February 1 of each calendar year after 2005, the Trustee shall distribute to each Participant identified by the Company as having elected (in accordance with the terms of the Plan) annual distributions of amounts related to dividends payable on Shares an amount equal to the balance in the Participant’s Dividend Sub-Account. Upon the termination of a Participant’s membership on the Board from and after January 1, 2005, other than a termination for cause, prior to a Change of Control, such Participant (or, in the event of his death, his Beneficiary) shall be entitled to a distribution from the Trust of all Shares and any other property (“Non-Share Interests”) credited to his Share Award Account, based on the value of such Share Award Account on the date of such termination of Board membership. Such distribution shall be made in a single lump sum within forty-five (45) days following the Participant’s termination of Board membership. When valuing the Share Award Account for distribution purposes, Shares shall be valued separately from WABCO Shares, in both cases, based on the Fair Market Value on the last business day of the month preceding the date of distribution. In the event that a Participant’s membership on the Board is terminated for cause, such Participant shall forfeit all interest to his or her Share Award Account and any Shares in such account shall revert back to the Company.

Distributions from Trust. The Company may cause the distribution of Common Stock under this Agreement to be made, in whole or in part, by the Trust in accordance with the terms of the Trust Agreement. Any distribution by the Trust shall be in satisfaction of the obligations of the Company under the Plan and this Agreement. Notwithstanding the establishment of the Trust, and any contributions made by the Company to the Trust, the Company shall remain obligated to make all distributions under this Agreement, except to the extent such payments are made by the Trust in accordance with the Trust Agreement.

Distributions from Trust. The Trustee shall pay benefits and expenses (other than taxes and Trustee compensation and expenses) from the Trust Fund only upon the written direction of the Plan Administrator. (a) The Employer will certify to the Trustee the identity of the Plan Administrator (and of any other person authorized to act on behalf of the Employer for purposes of the Plan) and will provide specimen signatures, or any other type of identification required of the person or persons serving as Plan Administrator or on behalf of the Employer. The Trustee may assume that the authority of such person or persons continues unless the Employer advises the Trustee otherwise in writing. The Trustee shall be fully entitled to rely on such directions and shall be under no duty to ascertain whether the directions are in accordance with the provisions of the Plan. (b) If the Plan Administrator has delegated certain functions to a Recordkeeper, the Plan Administrator may instruct the Trustee to take directions from such Recordkeeper. The Plan Administrator will provide such information as is required by the Recordkeeper or the Trustee regarding the names and signatures of the person or persons authorized to provide plan or investment information. The Trustee may assume that the authority of such person(s) continues unless the Plan Administrator advises the Trustee otherwise in writing. The Trustee shall be fully entitled to rely on directions from the Recordkeeper and shall be under no duty to ascertain whether the directions are in accordance with the provisions of the Plan. (c) Upon receipt of a written notice from the Plan Administrator certifying that an amount is payable to a Participant, or other person under the Plan, the Trustee will promptly pay such amount in accordance with the notice and will be fully protected in so doing. The Plan Administrator’s notice will include all information necessary to enable the Trustee to make such payment, including income tax withholding instructions and the account or accounts or investment fund or funds to be charged with such payments. The Plan Administrator’s giving of a payment notice constitutes a certification from the Plan Administrator to the Trustee that such payment is in accordance with the Plan, that the Plan Administrator has provided the Participant any and all notices and explanations required by law and that the Plan Administrator has properly obtained any waivers or consents of the Participant, the Participant’s spouse or other ...