Establishment and Title of the Trust. 1.1 The Company hereby reaffirms its establishment with the Trustee of the Trust, to accept such sums of money and other property, including without limitation one or more insurance or annuity contracts, acceptable to the Trustee as from time to time may be paid or delivered to the Trustee. All such money and other property, all investments and reinvestments made therewith or proceeds thereof and all earnings and profits thereon that are not paid to the Company as provided in Section 6.1 of this Trust Agreement, less all payments and charges as authorized herein, are hereinafter referred to as the "Trust Fund." The Trust Fund shall be held by the Trustee in trust and shall be dealt with in accordance with the provisions of this Trust Agreement. The Trust Fund shall be held for the exclusive purpose of providing payments to the participants of the Plan and their beneficiaries and defraying reasonable expenses of administration in accordance with the provisions of this Trust Agreement until all such payments have been made; provided, however, that the Trust Fund shall at all times be subject to the claims of the creditors of the Company as set forth in Section 7 of this Trust Agreement.
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Samples: Trust Agreement (Conocophillips)
Establishment and Title of the Trust. 1.1 The Company hereby reaffirms its establishment establishes with the Trustee of a trust (the "Trust"), to accept such sums of money and other property, including without limitation one or more insurance or annuity contracts, property acceptable to the Trustee as from time to time may be paid or delivered to the Trustee. All such money and other property, all investments and reinvestments made therewith or proceeds thereof and all earnings and profits thereon that are not paid to the Company as provided in Section 6.1 7.1 of this Trust Agreement, less all payments and charges as authorized herein, are hereinafter referred to as the "Trust Fund." ". The Trust Fund shall be held by the Trustee in trust IN TRUST and shall be dealt with in accordance with the provisions of this Trust Agreement. The Trust Fund shall be held for the exclusive purpose of providing payments to the participants of the Plan and their beneficiaries and defraying reasonable expenses of administration in accordance with the provisions of this Trust Agreement until all such payments have been made; provided, however, that the Trust Fund shall at all times be subject to the claims of the creditors of the Company as set forth in Section 7 8 of this Trust Agreement. 6 SECTION 2.
Appears in 1 contract
Samples: Non Qualified Deferred Compensation Plan (Brunswick Bancorp)
Establishment and Title of the Trust. 1.1 1.1. The Company hereby reaffirms its establishment with the Trustee of the Trust, to accept such sums of money and other property, including without limitation one or more insurance or annuity contracts, acceptable to the Trustee as from time to time may be paid or delivered to the Trustee. All such money and other property, all investments and reinvestments made therewith or proceeds thereof and all earnings and profits prof its thereon that are not paid to the Company as provided in Section 6.1 of this Trust Agreement, less all payments and charges as authorized herein, are hereinafter referred to as the "“Trust Fund." . “ The Trust Fund shall be held by the Trustee in trust and shall be dealt with in accordance with the provisions of this Trust Agreement. The Trust Fund shall be held for the exclusive purpose of providing payments to the participants of the Plan and their beneficiaries and defraying reasonable expenses of administration in accordance with the provisions of this Trust Agreement until all such payments have been made; provided, however, that the Trust Fund shall at all times be subject to the claims of the creditors of the Company as set forth in Section 7 of this Trust Agreement.
Appears in 1 contract
Samples: Trust Agreement (Conocophillips)
Establishment and Title of the Trust. 1.1 The Company Employer hereby reaffirms its establishment establishes with the Trustee of a trust to be known as the Data General Corporation Deferred Compensation Trust (the "Trust"), to accept such sums of money and other property, including without limitation one or more insurance or annuity contracts, property acceptable to the Trustee as from time to time may shall be paid or delivered to the Trustee. All such money and other property, all investments and reinvestments made therewith or proceeds thereof and all earnings and profits thereon that are not paid to the Company as provided in Section 6.1 of this Trust Agreementthereon, less all payments and charges as authorized herein, are hereinafter referred to as the "Trust Fund." ". The Trust Fund shall be held by the Trustee in trust and shall be dealt with in accordance with the provisions of this Trust Agreement. The Trust Fund shall be held for the exclusive purpose of providing payments to the participants and beneficiaries of the Plan and their beneficiaries (collectively referred to as the "Trust Beneficiaries") and defraying reasonable expenses of administration in accordance with the provisions of this Trust Agreement until all such payments required by this Trust Agreement have been made; provided, however, that the Trust Fund shall at all times be subject to the claims of the general creditors of Employer as and to the Company as extent set forth in Section 7 9 of this Trust Agreement. The Trust hereby established shall be irrevocable.
Appears in 1 contract
Samples: Trust Agreement (Data General Corp)
Establishment and Title of the Trust. 1.1 The Company Bank hereby reaffirms its establishment establishes with the Trustee of a trust, hereinafter called “the Trust, ,” to accept such sums of money and other property, property including without limitation one or more insurance or annuity contracts, acceptable to the Trustee as from time to time may be paid or delivered to the Trustee. All such money and other property, all investments and reinvestments made therewith or proceeds thereof and all earnings and profits thereon that are not paid to the Company Bank as provided in Section 6.1 Paragraph 7 of this Trust Agreementtrust agreement, less all payments and charges as authorized herein, are hereinafter referred to as the "“Trust Fund." ” The Trust Fund shall be held by the Trustee in trust TRUSTEE IN TRUST and shall be dealt with in accordance with the provisions of this Trust Agreementtrust agreement. The Trust Fund shall be held for the exclusive purpose of providing payments to the participants of the Plan and their beneficiaries and defraying reasonable expenses of administration in accordance with the provisions of this Trust Agreement trust agreement until all such payments have been made; , provided, however, that the Trust Fund shall at all times be subject to the claims of the creditors of the Company Bank as set forth in Section 7 Paragraph 8 of this Trust Agreementtrust agreement.
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