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 16, this trust will be irrevocable and will continue until termination at the written agreement of the grantor, the trustee, and the licensing authority, or by the trustee and the licensing authority if the grantor ceases to exist. Upon termination of the trust, all remaining trust property, less final trust administration expenses, will be delivered to the grantor, unless the trust is a "standby trust" fund created in accordance with paragraph (C), (D), or (E) of rule ▇▇▇▇-▇▇▇-▇▇ of the Administrative Code or paragraph (C), (D), or (E) of rule ▇▇▇▇-▇▇▇-▇▇ of the Administrative Code, in which case all remaining trust property, less final trust administration expenses, will be delivered to the provider of the financial assurance.

Irrevocability and Termination. Subject to the right of the parties to amend this agreement as provided in section 16, this trust will be irrevocable and will continue until termination at the written agreement of the grantor, the trustee, and the licensing authority, or by the trustee and the licensing authority if the grantor ceases to exist. Upon termination of the trust, all remaining trust property, less final trust administration expenses, will be delivered to the grantor, unless the trust is a "standby trust" fund created in accordance with paragraph (CG), (DH), or (EI) of rule ▇▇▇▇-▇▇▇-▇▇▇ of the Administrative Code or and/or paragraph (CG), (DH), or (EI) of rule ▇▇▇▇-▇▇▇-▇▇▇ of the Administrative Code, in which case all remaining trust property, less final trust administration expenses, will be delivered to the provider of the financial assurance.

Irrevocability and Termination. Subject to the right of the parties to amend this agreement as provided in section 16, this trust will be irrevocable and will continue until termination at the written agreement of the grantor, the trustee, and the licensing authority, or by the trustee and the licensing authority director if the grantor ceases to exist. Upon termination of the trust, all remaining trust property, less final trust administration expenses, will be delivered to the grantor, unless the trust is a "standby trust" fund created in accordance with paragraph (C), (D), or (E) of rule ▇▇▇▇-▇▇▇-▇▇ of the Administrative Code or paragraph (C), (D), or (E) of rule ▇▇▇▇-▇▇▇-▇▇ of the Administrative Code, in which case all remaining trust property, less final trust administration expenses, will be delivered to the provider of the financial assurance.