Establishment and Purpose of the Trust. 2.1 Based on the confidence in the trustee, the trustor/subordinated beneficiary entrusts the trustee to establish this Trust Plan by using its legally owned assets. The trustee hereby accepts that it will act as the trustee according to the provisions hereof, and hold the trust property for the benefits of the beneficiaries in form of trust. It also promises that it will manage and use the trust property strictly according to relevant contract provisions. In the event of a conflict of interests between the senior beneficiary and the subordinated beneficiary, the interests of the senior beneficiary shall be ensured on the precondition of no conflict with the obligations that the trustee shall perform for the subordinated beneficiary according to this Contract.
Establishment and Purpose of the Trust. 2.1. There is hereby established the Sasol Inzalo Management Scheme to be administered by the Trustees for the benefit of all Beneficiaries and in the manner and upon the terms and conditions set out in this Trust Deed.
Establishment and Purpose of the Trust. Section 1. Teamsters Local Union No. 856 and various employers have entered into collective bargaining agree- ments under which individual employers are obligated to make payments into this Trust Fund in order to provide for the benefits of employees and retired employees, their families and dependents for medical and hospital care, dental care, vision care, drugs and other health and welfare benefits permitted under Section 302 of the Labor Management Relations Xxx, 0000, as amended.
Establishment and Purpose of the Trust. 2.1. There is hereby established by the Co-Founders the Sasol Khanyisa Employee Share Ownership Plan comprised of 2 (two) separate employee share ownership plans in terms of which Khanyisa Tier 1 Participants and Khanyisa Tier 2 Participants will become vested Beneficiaries of the Trust. The Co-Founders will accordingly make a contribution of R100.00 (one hundred Rand) each for the establishment of the Trust. The Trust shall be administered by the Trustees for the benefit of all Beneficiaries and in the manner and upon the terms and conditions set out in this Trust Deed.
Establishment and Purpose of the Trust
