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 for Third Party Liability, Standby Trust Agreement for Third Party Liability
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 2 contracts
Samples: Standby Trust Agreement, Trust Agreement for Liability
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 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 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 for Third Party Liability, 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
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: Standby 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, Trustee and the Commissioner of the NJDEPFDEP Secretary, or by the Trustee and the Commissioner of the NJDEPFDEP Secretary, 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 FDEP Secretary 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