Common use of Irrevocability and Termination Clause in Contracts

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEP, or by the Trustee and the Commissioner of the NJDEP, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The Commissioner of the NJDEP will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 2 contracts

Samples: Standby Trust Agreement, www.state.nj.us

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Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPdirector, or by the Trustee and the Commissioner of the NJDEPdirector, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The Commissioner of the NJDEP director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 2 contracts

Samples: Trust Agreement, Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPdirector, or by the Trustee and the Commissioner of the NJDEPdirector, if the Grantor ceases to exist. Upon termination of the Trust, Trust all remaining trust property, less final trust administration expenses, expenses shall be paid delivered to the Grantor. The Commissioner of the NJDEP director will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 2 contracts

Samples: Trust Agreement, Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEP, or by the Trustee and the Commissioner of the NJDEP, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The Commissioner of the NJDEP will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 2 contracts

Samples: Trust Agreement, www.nj.gov

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPdirector, or by the Trustee and the Commissioner of the NJDEPdirector, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The Commissioner of the NJDEP director will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 2 contracts

Samples: Trust Agreement, Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPdirector, or by the Trustee and the Commissioner of the NJDEP, director if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The Commissioner of the NJDEP director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 2 contracts

Samples: Trust Agreement, Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPCOMMISSIONER, or by the Trustee and the Commissioner of the NJDEPCOMMISSIONER, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The Commissioner of the NJDEP COMMISSIONER will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 1 contract

Samples: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPCommissioner, or by the Trustee and the Commissioner of the NJDEPCommissioner, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The Commissioner of the NJDEP will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Samples: Waste Management Facility

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPBeneficiary, or by the Trustee and the Commissioner of the NJDEPBeneficiary, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The Commissioner of the NJDEP Beneficiary will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 1 contract

Samples: Trust Agreement

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Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPAgency Commissioner, or by the Trustee and the Commissioner of the NJDEPAgency Commissioner, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The Agency Commissioner of the NJDEP will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Samples: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEP, EPD Director or by the Trustee and the Commissioner of the NJDEPEPD Director, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The Commissioner of the NJDEP EPD Director will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 1 contract

Samples: Liability Coverage

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPAgency Commissioner, or by the Trustee and the Commissioner of the NJDEPAgency Commissioner, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The Agency Commissioner of the NJDEP will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 1 contract

Samples: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPDEQ Director, or by the Trustee and the Commissioner of the NJDEPDEQ Director, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The Commissioner of the NJDEP DEQ Director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Samples: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the Commissioner of the NJDEPexecutive director, or by the Trustee and the Commissioner of the NJDEPexecutive director, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The Commissioner of the NJDEP executive director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Samples: Trust Agreement

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