FAILURE OF TRUSTS. If any trust intended to arise pursuant to any provision of this Deed fails or for any reason (including the laws of any jurisdiction in which any assets, moneys, payments or distributions may be situated) cannot be given effect to, the Subordinated Party will pay to the Security Agent for application against the Secured Liabilities an amount equal to the amount (or the value of the relevant assets) intended to be so held on trust for the Security Agent.
FAILURE OF TRUSTS. (a) If any trust intended to arise pursuant to paragraph 6.1 (Turnover) fails or for any reason (including the laws of any jurisdiction in which any assets, moneys, payments or distributions may be situated) cannot be given effect to, the relevant Party will pay to the Security Agent for application in accordance with paragraph 19.1 (Order of application) of Schedule 10 (Security agency provisions) an amount equal to the amount (or the value of the relevant assets) intended to be so held on trust for the Security Agent.
FAILURE OF TRUSTS. If any trust intended to arise pursuant to Clause 8 (Turnover) or Clause 10.3 (Distribution) fails or for any reason (including the laws of any jurisdiction in which any assets, moneys, payments or distributions may be situated) cannot be given effect to, the relevant Party will pay to the Security Agent for application in accordance with Clause 13.1 (Application order (Senior Security)) an amount equal to the amount (or the value of the relevant assets) intended to be so held in trust for the Security Agent.
FAILURE OF TRUSTS. VESTING In the event of the failure of the Trust Fund in whole or in part and whether capital or income the Trustee shall hold the same and the future income thereof or so much of the same as shall not have been absolutely vested or been applied under the trusts and powers contained in this Deed or under any statutory power upon trust to be applied for the objects as set out in clause 3 or transferred to another trust with similar objects. EXECUTED as a Deed SIGNED AND SEALED by XXXXXXXX XXXXXX XXXXXX in the presence of: Witness THE COMMON SEAL of AMBULANCE SERVICE WELFARE FUND NOMINEES PTY LTD was affixed in the presence of: Director Director/Secretary Print Name Print Name AMBULANCE SERVICE WELFARE FUND TRUST ELIGIBLE BENEFICIARY APPLICATION FORM I, [INSERT NAME OF MEMBER], hereby apply to be included as an eligible beneficiary of the Ambulance Service Welfare Fund Trust ("the Trust"). I have read the Deed Establishing the Trust dated 2001 entered between Xxxxxxxx Xxxxxx Xxxxxx and Ambulance Service Welfare Fund Nominees Pty Ltd ACN 098 734 591 ("the Trust Deed") and I agree to be bound by its terms. In particular, I agree to make contributions to the Trust as required by clause 9.1 of the Trust Deed. I authorise the deduction of such amount from my salary or wages and consent to the Trust providing a copy of this authority to my employer. ………………………………… Signature Dated this ……………………………….. day of 2001 SCHEDULE OF SICKNESS/ACCIDENT BENEFITS The schedule of Sickness/Accident Benefits referred to in clause 4.2.3 shall be, until further notice: Once a Member is not receiving Sickness Benefits from the Service or the Welfare Fund, after production of a doctor's certificate and a sickness/accident claim form being completed, the Fund shall pay to the Member an amount up to 75% of their base salary plus 5/6th of their rolled in rate. Dated this ……………………………….. day of 2001 Director Director/Secretary Ambulance Service Welfare Fund Ambulance Service Welfare Fund Nominees Pty Ltd as trustee of Nominees Pty Ltd as trustee of the Ambulance Service Welfare the Ambulance Service Welfare Fund Trust Fund Trust
FAILURE OF TRUSTS. Subject, in the case of each High Yield Trustee, to Clause 20 (High Yield Trustee), if for any reason any trust which is to arise (pending payment of any amount to the Security Trustee for the benefit of the Secured Creditors) pursuant to Clause 5.1 (Turnover), Clause 6.2 (Permitted Enforcement) or Clause 6.11 (Preservation of Liabilities) of this Deed fails or for any reason cannot be given effect to (including without limitation, by reason of the Laws of any jurisdiction in which any Security Property may be situate), the relevant Creditor will pay to the Security Trustee and the Security Trustee shall hold for and to the order of the Secured Creditors for application in accordance with Clause 6.4 (Application of Proceeds), an amount equal to the amount (or as the case may be transfer value of the relevant property) intended to be so held on trust.
FAILURE OF TRUSTS. Subject, in the case of a Trustee, to Clause 28 (Trustees), if any trust intended to arise pursuant to Clause 13.1 (Turnover) or Clause 14.4 (Distributions) fails or for any reason (including the laws of any jurisdiction in which any assets, moneys, payments or distributions may be situated) cannot be given effect to, the relevant Party will pay to the Security Agent for application in accordance with the applicable provisions of Clause 20 (Application of Recoveries) an amount equal to the amount (or the value of the relevant assets) intended to be so held on trust for the Security Agent.
FAILURE OF TRUSTS. Subject, in the case of each High Yield Trustee, to Clause 20 (High Yield Trustee), if for any reason any trust which is to arise (pending payment of any amount to the Bank Group Security Trustee for the benefit of the Secured Creditors) (or, after the Bank Group Discharge Date, the Target Group Security Trustee) pursuant to Clause 5.1 (Turnover), Clause 6.2 (Permitted Enforcement) or Clause 6.11 (Preservation of Liabilities) of this Deed fails or for any reason cannot be given effect to (including without limitation, by reason of the Laws of any jurisdiction in which any Security Property may be situate), the relevant Creditor will pay to the Bank Group Security Trustee (or, after the Bank Group Discharge Date, the Target Group Security Trustee) and such Security Trustee shall hold for and to the order of the Secured Creditors for application in accordance with Clause 6.4 (Application of Proceeds), an amount equal to the amount (or as the case may be transfer value of the relevant property) intended to be so held on trust.
FAILURE OF TRUSTS. If for any reason any trust which is to arise (pending payment or any assets or monies in accordance with Clause 8 (Proceeds of Enforcement of Security)) pursuant to Clause 5.1 fails or for any reason cannot be given effect to (including without limitation, by reason of the laws of any jurisdiction in which any assets or monies may be situated), the relevant Security Trustee will (subject to Clause 5.3) pay to the relevant party in accordance with Clause 8 (Proceeds of Enforcement of Security) an amount equal to the amount (or the value of the relevant asset) intended to be so held on trust for such relevant party.
FAILURE OF TRUSTS. (i) If any trust intended to arise pursuant to paragraph 6 (Turnover of Receipts), paragraph 7.1 (Recovering Creditor’s Rights), paragraph 7.2 (Reversal of redistribution) or paragraph 9.3 (Distributions to Subordinated Lender) fails or for any reason (including the laws of any jurisdiction in which any assets, moneys, payments or distributions may be situated) cannot be given effect to, the relevant Party will pay to the Issuer Security Trustee or the Transaction Agent (as applicable) for application towards the Senior Issuer Debt in accordance with the Issuer Transaction Documents an amount equal to the amount (or the value of the relevant assets) intended to be so held on trust for the Issuer Security Trustee or the Transaction Agent (as applicable).
