Limitation on Use of Funds. The Trust established hereby shall be irrevocable and each Participating Company shall have no right or power to direct the Trustee to return to each Participating Company or to divert to others any assets of the Trust Fund before all payment of benefits have been made to Trust Beneficiaries pursuant to the terms of the Plan; provided, however, that (i) nothing in this Section 3 shall be deemed to limit or otherwise prevent the payment from the Trust Fund of expenses and other charges as provided in Sections 5.1(e), 9.1, 9.2 and 10.4 of this Trust Agreement or the application of the Trust Fund as provided in Section 13 of this Trust Agreement and (ii) the Trust Fund shall at all times be subject to the claims of the general creditors of the Participating Companies as set forth in Section 8 of this Trust Agreement. The Trustee shall have no duty to determine whether all benefit payments have been made to Trust Beneficiaries and may rely on the Company's notification regarding such payment.
Appears in 3 contracts
Samples: Rabbi Trust Agreement (Alpha Natural Resources, Inc.), Rabbi Trust Agreement (Alpha Natural Resources, Inc.), Rabbi Trust Agreement (Alpha Natural Resources, Inc.)
Limitation on Use of Funds. The Trust established hereby shall be irrevocable and each Participating Company the Employer shall have no right or power to direct the Trustee to return to each Participating Company the Employer or to divert to others any assets of the Trust Fund before all payment of benefits have been made to Trust Beneficiaries pursuant to the terms of the PlanPlan[s]; provided, however, that (i) nothing in this Section 3 shall be deemed to limit or otherwise prevent the payment from the Trust Fund of expenses and other charges as provided in Sections 5.1(e5.1(h), 9.1, 9.2 10.1 and 10.4 10.2 of this Trust Agreement or the application of the Trust Fund as provided in Section 13 14 of this Trust Agreement and (ii) the Trust Fund shall at all times be subject to the claims of the general creditors of the Participating Companies Employer as set forth in Section 8 of this Trust Agreement. The Trustee shall have no duty to determine whether all benefit payments have been made to Trust Beneficiaries and may rely on the Company's Employer’s notification regarding such payment.
Appears in 3 contracts
Samples: Trust Agreement (Host Marriott Corp/), Trust Agreement (Host Marriott L P), Trust Agreement (Hubbell Inc)
Limitation on Use of Funds. The Trust established hereby shall be irrevocable and each Participating Company the Employers shall have no right or power to direct the Trustee to return to each Participating Company such Employer or to divert to others any assets of the Trust Fund before all payment of benefits have been made to Trust Beneficiaries pursuant to the terms of the PlanPlan[s]; provided, however, that (i) nothing in this Section 3 shall be deemed to limit or otherwise prevent the payment from the Trust Fund of expenses and other charges as provided in Sections 5.1(e5.1(h), 9.1, 9.2 10.1 and 10.4 10.2 of this Trust Agreement or the application of the Trust Fund as provided in Section 13 14 of this Trust Agreement and (ii) the Trust Fund shall at all times be subject to the claims of the general creditors of the Participating Companies each Employer as set forth in Section 8 of this Trust Agreement. The Trustee shall have no duty to determine whether all benefit payments have been made to Trust Beneficiaries and may rely on the Company's such Employer’s notification regarding such payment.
Appears in 1 contract
Samples: Trust Agreement (SCP Pool Corp)
Limitation on Use of Funds. The Trust established hereby shall be irrevocable and each Participating Company the Employer shall have no right or power to direct the Trustee to return to each Participating Company the Employer or to divert to others any assets of the Trust Fund before all payment of benefits have been made to Trust Beneficiaries pursuant to the terms of the Plan; provided, however, that (i) nothing in this Section 3 shall be deemed to limit or otherwise prevent the payment from the Trust Fund of expenses and other charges as provided in Sections 5.1(e5.1(h), 9.1, 9.2 10.1 and 10.4 10.2 of this Trust Agreement or the application of the Trust Fund as provided in Section 13 14 of this Trust Agreement and (ii) the Trust Fund shall at all times be subject to the claims of the general creditors of the Participating Companies Employer as set forth in Section 8 of this Trust Agreement. The Trustee shall have no duty to determine whether all benefit payments have been made to Trust Beneficiaries and may rely on the CompanyEmployer's notification regarding such payment.
Appears in 1 contract
Limitation on Use of Funds. The Trust established hereby shall be irrevocable and each Participating Company shall have no right or power to direct the Trustee to return to each Participating Company or to divert to others any assets of the Trust Fund before all payment of benefits have been made to Trust Beneficiaries pursuant to the terms of the Plan; provided, however, that (i) nothing in this Section 3 shall be deemed to limit or otherwise prevent the payment from the Trust Fund of expenses and other charges as provided in Sections 5.1(e), 9.1, 9.2 and 10.4 of this Trust Agreement or the application of the Trust Fund as provided in Section 13 of this Trust Agreement and (ii) the Trust Fund shall at all times be subject to the claims of the general creditors of the Participating Companies as set forth in Section 8 of this Trust Agreement. The Trustee shall have no duty to determine whether all benefit payments have been made to Trust Beneficiaries and may rely on the Company's ’s notification regarding such payment.
Appears in 1 contract
Samples: Rabbi Trust Agreement (Alpha Natural Resources, Inc.)