Common use of Final Termination Clause in Contracts

Final Termination. The Trust shall not terminate until the date on which Participants and their Beneficiaries are no longer entitled to any benefits pursuant to the terms of the Plans, and on such date the Trust shall terminate. Upon termination of the Trust, any assets remaining in the Trust after the satisfaction of all liabilities hereunder and under the Plans shall be returned to the Company and the Subsidiaries. Such remaining assets shall be paid by the Trustee to the Company and the Subsidiaries in such amounts and in the manner instructed by the Company, whereupon the Trustee shall be released and discharged from all obligations hereunder. From and after the date of termination and until final distribution of the Trust Fund, the Trustee shall continue to have all of the powers provided herein as are necessary or expedient for the orderly liquidation and distribution of the Trust Fund.

Appears in 2 contracts

Samples: Master Trust Agreement (Wh Holdings Cayman Islands LTD), Master Trust Agreement (Voyager Group Inc)

AutoNDA by SimpleDocs

Final Termination. The Trust shall not terminate until the date on which Participants and their Beneficiaries are no longer entitled to any benefits pursuant to the terms of the PlansPlans and all of the expenses of the Trust have been paid, and on such date the Trust shall terminate. Upon termination of the Trust, any assets remaining in the Trust after the satisfaction of all liabilities hereunder and under the Plans shall be returned to the Company and the SubsidiariesSubsidiaries that made contributions to the Trust. Such remaining assets shall be paid by the Trustee to the Company and the Subsidiaries in such amounts and in the manner instructed by the Company, whereupon the Trustee shall be released and discharged from all obligations hereunder. From and after the date of MASTER TRUST AGREEMENT FOR RPM, INC. DEFERRED COMPENSATION PLAN(S) ================================================================================ termination and until final distribution of the Trust Fund, the Trustee shall continue to have all of the powers provided herein as are necessary or expedient for the orderly liquidation and distribution of the Trust Fund.

Appears in 2 contracts

Samples: Master Trust Agreement (RPM Inc/Oh/), Master Trust Agreement (RPM International Inc/De/)

AutoNDA by SimpleDocs

Final Termination. The Trust shall not terminate until the date on which (a) Participants and their Beneficiaries are no longer entitled to any benefits pursuant to the terms of the Plans, Plan and on such date all of the expenses of the Trust shall terminatehave been paid, or (b) the Company obtains written approval of all Participants and Beneficiaries with benefits accrued under the Plan at such time to terminate the Trust. Upon termination of the Trust, any assets remaining in the Trust after the satisfaction of all liabilities hereunder and under the Plans shall be returned to the Company and the Subsidiaries. Such remaining assets shall be paid by the Trustee to the Company and the Subsidiaries in such amounts and in the manner instructed by the Company, whereupon the Trustee shall be released and discharged from all obligations hereunder. From and after the date of termination and until final distribution of the Trust Fund, the Trustee shall continue to have all of the powers provided herein as are necessary or expedient for the orderly liquidation and distribution of the Trust Fund.

Appears in 1 contract

Samples: Trust Agreement (Callaway Golf Co /Ca)

Time is Money Join Law Insider Premium to draft better contracts faster.