Exclusive Benefit Rule. Except as provided in Section 11.02, or as otherwise permitted or required by ERISA or the Code, no asset of the Trust shall be used for, or diverted to, purposes other than the exclusive benefit of Plan participants or their beneficiaries or for the reasonable expenses of administering the Plan and Trust until all liabilities for benefits due Plan participants or their beneficiaries have been satisfied.
Exclusive Benefit Rule. All contributions made by an Employer (whether or not the Employer is an Affiliated Employer with one or more other Adopting Employers) to the Trust will be used for the exclusive benefit of all Participants and their Beneficiaries and will not be used for nor diverted to any other purpose except the payment of the costs of maintaining the Plan.
Exclusive Benefit Rule. Except as provided in Section 11.04, ---------------------- no part of the principal or income of this trust shall be used for, or diverted to, purposes other than the exclusive benefit of Participants or their Beneficiaries or for the reasonable expenses of administering the Plan until all liabilities for benefits due Participants or their Beneficiaries have been satisfied.
Exclusive Benefit Rule. At no time prior to the satisfaction of all liabilities with respect to Participants shall any part of the principal or income of the Trust Fund ever be used for, or diverted to, purposes other than the exclusive benefit of Participants.
Exclusive Benefit Rule. All contributions made by the Employer or an Affiliated Employer to the Trust Fund will be used for the exclusive benefit of the Participants who are Employees of the Employer or Affiliated Employer and for their Beneficiaries and will not be used for nor diverted to any other purpose except the payment of the costs of maintaining the Plan. All contributions made by an Adopting Employer who is not an Affiliated Employer will be used for the exclusive benefit of the Participants who are Employees of the Adopting Employer and for their Beneficiaries and will not be used for nor diverted to any other purpose except the payment of the Adopting Employers’ proportionate costs of maintaining the Plan.
Exclusive Benefit Rule. No portion of the principal or the income of the Trust Fund shall revert to the Participating Employer, or ever be used for or diverted to any purpose other than for (i) the exclusive benefit of Participants in the Plan and persons claiming under or through them pursuant to the Plan and (ii) the payment of reasonable expenses of the Plan and this Trust. The Trustees shall administer the Trust in compliance with Code Section 503(b).
Exclusive Benefit Rule. The Trust is expressly declared to be irrevocable. It will be impossible, at any time prior to the satisfaction of all liabilities with respect to Participants, for any part of the principal or income of the Trust Fund to be used for, or diverted to, any purpose which is not for the exclusive benefit of Participants. The preceding sentence will not be construed in such a way as to prohibit the use of assets of the Trust Fund to pay fees and other expenses and obligations incurred in the maintenance, administration and investment of the Trust Fund in accordance with the provisions of this Trust Agreement.
Exclusive Benefit Rule. The assets of the Trust Fund shall ---------------------- never inure to the benefit of the Company and shall be held for the exclusive purpose of providing benefits under the Plan and defraying reasonable expenses of administration. The Company shall not be entitled to receive or recover any part of its contributions to the Trust or the earnings thereon except as follows:
Exclusive Benefit Rule. The employees' trust established by this Trust Agreement is expressly declared to be irrevocable, subject to the provisions of Article 8. It will be impossible, at any time prior to the satisfaction of all liabilities with respect to Participants and their Beneficiaries, for any part of the principal or income of the Trust Fund to be used for, or diverted to, any purpose which is not for the exclusive benefit of Participants and their Beneficiaries. The preceding sentence will not be construed in such a way as to prohibit the use of assets of the Trust Fund to pay fees and other expenses incurred in the maintenance, administration and investment of the Trust Fund in accordance with the provisions of this Trust Agreement.
Exclusive Benefit Rule. 14 - 2 - 4 THE EARTHGRAINS COMPANY ----------------------- EMPLOYEE STOCK OWNERSHIP/401(K) PLAN TRUST AGREEMENT ---------------------------------------------------- This agreement ("Agreement") is entered into this 1st day of July, 1996, effective as of July 1, 1996, by and between the Investment Committee of The Earthgrains Company (the "Company"), and Wachovia Bank of Company (the "Company"), and Wachovia Bank of North Carolina, N.A., a national banking association organized under the laws of the United States of America (the "Trustee"), in its capacity as Trustee under the Plan.
