Common use of Establishment of the Trust Clause in Contracts

Establishment of the Trust. Section 1.1. The Company and the Trustee hereby agree to the establishment of a trust consisting of such sums as shall from time to time be paid to the Trustee under the Plan and such earnings, income and appreciation as may accrue thereon, which, less payments made by the Trustee to carry out the purposes of the Plan, are referred to herein as the "Fund." The Trustee shall carry out the duties and responsibilities herein specified, but shall be under no duty to determine whether the amount of any contribution by the Company or any Participant is in accordance with the terms of the Plan nor shall the Trustee be responsible for the collection of any contributions required under the Plan. Section 1.2. The Fund shall be held, invested, reinvested and administered by the Trustee in accordance with the terms of the Plan and this Agreement solely in the interest of Participants and their beneficiaries and for the exclusive purpose of providing benefits to Participants and their beneficiaries and defraying reasonable expenses of administering the Plan. Except as provided in Section 6.2, no assets of the Plan shall inure to the benefit of the Company. Section 1.3. The Trustee shall pay benefits and expenses from the Fund only upon the written direction of the Plan Administrator. The Trustee shall be fully entitled to rely on such directions furnished by the Plan Administrator, and shall be under no duty to ascertain whether the directions are in accordance with the provisions of the Plan.

Appears in 3 contracts

Samples: Trust Agreement (Dynegy Inc /Il/), Trust Agreement (Dynegy Inc /Il/), Trust Agreement (Dynegy Inc /Il/)

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Establishment of the Trust. Section 1.1. The Company and the Trustee hereby agree to the establishment of a trust consisting of such sums as shall from time to time be paid to the Trustee under the Plan and such earnings, income and appreciation as may accrue thereon, which, less payments made by the Trustee to carry out the purposes of the Plan, are referred to herein as the "Fund." ”. The Trustee shall carry out the duties and responsibilities herein specified, but shall be under no duty to determine whether the amount of any contribution by the Company or any Participant is in accordance with the terms of the Plan nor shall the Trustee be responsible for the collection of any contributions required under the Plan. Section 1.2. The Fund shall be held, invested, reinvested and administered by the Trustee in accordance with the terms of the Plan and this Agreement solely in the interest of Participants and their beneficiaries Beneficiaries and for the exclusive purpose of providing benefits to Participants and their beneficiaries Beneficiaries and defraying reasonable expenses of administering the Plan. Except as provided in Section 6.2, no assets of the Plan shall inure to the benefit of the Company. Section 1.3. The Trustee shall pay benefits and expenses from the Fund only upon the written direction of the Plan Administrator. The Trustee shall shall, to the extent permitted by applicable law, including, without limitation, the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) be fully entitled to rely on such directions furnished by the Plan Administrator, and shall shall, except as required otherwise by applicable law, including, without limitation, ERISA, be under no duty to ascertain whether the directions are in accordance with the provisions of the Plan.

Appears in 3 contracts

Samples: Trust Agreement (Longview Fibre Co), Trust Agreement (Longview Fibre Co), Trust Agreement (Longview Fibre Co)

Establishment of the Trust. Section 1.1. The Company and the Trustee hereby agree to the establishment of a trust consisting of such sums as shall from time to time be paid to the Trustee under the Plan and such earnings, income and appreciation as may accrue thereon, which, less payments made by the Trustee to carry out the purposes of the Plan, are referred to herein as the "Fund." ". The Trustee shall carry out the duties and responsibilities herein specified, but shall be under no duty to determine whether the amount of any contribution by the Company or any Participant is in accordance with the terms of the Plan nor shall the Trustee be responsible for the collection of any contributions required under the Plan. Section 1.2. The Fund shall be held, invested, reinvested and administered by the Trustee in accordance with the terms of the Plan and this Agreement solely in the interest of Participants and their beneficiaries Beneficiaries and for the exclusive purpose of providing benefits to Participants and their beneficiaries Beneficiaries and defraying reasonable expenses of administering the Plan. Except as provided in Section 6.2, no assets of the Plan shall inure to the benefit of the Company. Section 1.3. The Trustee shall pay benefits and expenses from the Fund only upon the written direction of the Plan Administrator. The Trustee shall shall, to the extent permitted by applicable law, including, without limitation, the Employee Retirement Income Security Act of 1974, as amended ("ERISA") be fully entitled to rely on such directions furnished by the Plan Administrator, and shall shall, except as required otherwise by applicable law, including, without limitation, ERISA, be under no duty to ascertain whether the directions are in accordance with the provisions of the Plan.

Appears in 3 contracts

Samples: Trust Agreement (Longview Fibre Co), Trust Agreement (Longview Fibre Co), Trust Agreement (Longview Fibre Co)

Establishment of the Trust. Section 1.1. (a) The Company Employer and the Trustee hereby agree to the establishment of a trust consisting of such sums as shall will from time to time be paid to the Trustee under the Plan and such earnings, income and appreciation as may accrue thereon, which, less payments made by the Trustee to carry out the purposes of the Planplan, are referred to herein as the "Trust Fund." . The Trustee shall will carry out the duties and responsibilities herein herein, specified, but shall will be under no duty to determine whether the amount of any contribution contributions by the Company Employer or any Participant is in accordance with the terms of the Plan nor shall will the Trustee be responsible for the collection of any contributions required contribution under the Plan. Section 1.2. (b) The Trust Fund shall will be held, invested, reinvested reinvested, and administered by the Trustee in accordance with the terms of the Plan and this Agreement solely in the interest of Participants and their beneficiaries Beneficiaries and for the exclusive purpose of providing benefits to Participants and their beneficiaries Beneficiaries and defraying reasonable expenses of administering the Plan. Except as provided in Section 6.212.7, no assets of the Plan shall will inure to the benefit of the CompanyEmployer. Section 1.3. (c) The Trustee shall will pay benefits and expenses from the Trust Fund only upon the written direction of the Plan Administrator, the Fiduciary named in the Plan as having the authority to control and manage the administration of the Plan. The Trustee shall will be fully entitled to rely on such directions furnished by the Plan Administrator, and shall will be under no duty to ascertain whether the such directions are in accordance with the provisions of the Plan.

Appears in 1 contract

Samples: Employee Investment Opportunity Plan (Richfood Holdings Inc)

Establishment of the Trust. Section 1.1. 1.1 The Company and hereby establishes the Trustee hereby agree to Trust with the establishment of a trust Trustee, consisting of such sums of money and other property acceptable to the Trustee as shall from time to time shall be paid or delivered by the Company to the Trustee to aid the Company in meeting its obligations under the Plan Corporate Resolutions and Agreements. The Company has specified the Agreements and Corporate Resolutions under which the Trust is intended to provide Benefits. Such Agreements and Corporate Resolutions are set forth on Exhibit A hereto. All such earningsmoney and other property, income all investments and appreciation as may accrue reinvestments made therewith or proceeds thereof and all earnings and profits thereon, whichless all payments and charges as authorized herein, less payments made shall Constitute the "Trust Fund". The Trust Fund shall be held by the Trustee to carry out the purposes of the Plan, are referred to herein as the "Fund." The Trustee shall carry out the duties in trust and responsibilities herein specified, but shall be under no duty to determine whether the amount of any contribution by the Company or any Participant is dealt with in accordance with the terms provisions of the Plan nor shall the Trustee be responsible for the collection of any contributions required under the Planthis Trust Agreement. Section 1.2. 1.2 The Fund Trust shall be heldirrevocable, invested, reinvested and administered by the Trustee in accordance with the terms of the Plan and this Agreement solely in the interest of Participants and their beneficiaries and shall be held for the exclusive purpose of providing benefits Benefits to Participants and their beneficiaries Dependents and defraying reasonable expenses of administering the Plan. Except as provided in Section 6.2, no assets of the Plan shall inure to the benefit of the Company. Section 1.3. The Trustee shall pay benefits and expenses from the Fund only upon the written direction of the Plan Administrator. The Trustee shall be fully entitled to rely on such directions furnished by the Plan Administrator, and shall be under no duty to ascertain whether the directions are Trust in accordance with the provisions of this Trust Agreement. Except as provided in Sections 5.5, 8.3 and 11, no part of the Planincome or corpus of the Trust Fund shall be recoverable by the Company. 1.3 Anything in this Trust Agreement to the contrary notwithstanding, the Trust Fund shall be subject to the claims of the general creditors of the Company as provided in Section 15 of this Trust Agreement.

Appears in 1 contract

Samples: Post Retirement Welfare Benefit Trust (American Banknote Corp)

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Establishment of the Trust. Section 1.1. The Company and the Trustee hereby agree to the establishment of a trust consisting of such sums as shall from time to time be paid to the Trustee under the Plan and such earnings, income and appreciation as may accrue thereon, which, less payments made by the Trustee to carry out the purposes of the Plan, are referred to herein as the "Fund." ". The Trustee shall carry out the duties and responsibilities herein specified, but shall be under no duty to determine whether the amount of any contribution by the Company or any Participant is in accordance with the terms of the Plan nor shall the Trustee be responsible for the collection of any contributions required under the Plan. Notwithstanding the above, the Trustee shall calculate certain Company matching contributions under the Plan according to the directions provided by the Plan Administrator. Section 1.2. The Fund shall be held, invested, reinvested and administered by the Trustee in accordance with the terms of the Plan and this Agreement solely in the interest of Participants and their beneficiaries Beneficiaries and for the exclusive purpose of providing benefits to Participants and their beneficiaries Beneficiaries and defraying reasonable expenses of administering the Plan. Forfeitures under the Plan shall be used to reduce Company matching contributions in accordance with the Plan document. Except as provided in Section 6.25.2, no assets of the Plan shall inure to the benefit of the Company. Section 1.3. The Trustee shall pay benefits and expenses from the Fund only upon the written direction of the Plan Administrator. The Trustee may issue such benefits under the Plan through an automated distribution system which shall be programmed to distribute benefits according to the procedures furnished by the Plan Administrator. The Trustee shall be fully entitled to rely on such directions furnished by the Plan Administrator, and shall be under no duty to ascertain whether the directions are in accordance with the provisions of the Plan.

Appears in 1 contract

Samples: Trust Agreement (Sequa Corp /De/)

Establishment of the Trust. Section 1.1. The Company and the Trustee hereby agree to the establishment of a trust consisting of such sums as shall from time to time be paid to the Trustee under the Plan and such earnings, income and appreciation as may accrue thereon, which, less payments made by the Trustee to carry out the purposes of the Plan, are referred to herein as the "Fund." ”. The Trustee shall carry out the duties and responsibilities herein specified, but shall be under no duty to determine whether the amount of any contribution by the Company or any Participant is in accordance with the terms of the Plan nor shall the Trustee be responsible for the collection of any contributions required under the Plan. Section 1.2. The Fund shall be held, invested, reinvested and administered by the Trustee in accordance with the terms of the Plan and this Agreement solely in the interest of Participants and their beneficiaries Beneficiaries and for the exclusive purpose of providing benefits to Participants and their beneficiaries Beneficiaries and defraying reasonable expenses of administering the Plan. Except as provided in Section 6.2, no assets of the Plan shall inure to the benefit of the Company. Section 1.3. The Trustee shall pay benefits and expenses from the Fund only upon the written direction of the Plan AdministratorCommittee. The Trustee shall be fully entitled to rely on such directions furnished by the Plan AdministratorCommittee, and shall be under no duty to ascertain whether the directions are in accordance with the provisions of the Plan.

Appears in 1 contract

Samples: Trust Agreement (Canadian Imperial Bank of Commerce /Can/)

Establishment of the Trust. Section 1.1. The Company and the Trustee hereby agree to the establishment of a trust consisting of such sums as shall from time to time be paid to the Trustee under the Plan and such earnings, income and appreciation as may accrue thereon, which, less payments made by the Trustee to carry out the purposes of the Plan, are referred to herein as the "Fund." The Trustee shall carry out the duties and responsibilities herein specified, but shall be under no duty to determine whether the amount of any contribution by the Company or any Participant is in accordance with the terms of the Plan nor shall the Trustee be responsible for the collection of any contributions required under the Plan. Section 1.2. The Fund shall be held, invested, reinvested and administered by the Trustee in accordance with the terms of the Plan and this Agreement solely in the interest of Participants and their beneficiaries and for the exclusive purpose of providing benefits to Participants and their beneficiaries and defraying reasonable expenses of administering the Plan. Except as provided in Section 6.2, no assets of the Plan shall inure to the benefit of the Company. Section 1.3. The Trustee shall pay benefits and expenses from the Fund only upon the written direction of the Plan Administrator. The Trustee shall be fully entitled to rely on such directions furnished by the Plan Administrator, and shall be under no duty to ascertain whether the directions are in accordance with the provisions of the Plan.

Appears in 1 contract

Samples: Trust Agreement (Dynegy Inc.)

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