Common use of Maintenance of Minimum Balance Clause in Contracts

Maintenance of Minimum Balance. The Trustee agrees to provide monthly reports to Grantor and the Beneficiaries’ Representative showing the current fair market value of the Trust Fund. If any such report shows that the current fair market value of the Trust Fund is less than the Minimum Balance, then within ten (10) days after such report, Grantor agrees to deliver cash funds to the Trustee equal to the difference between the fair market value of the Trust Fund and the Minimum Balance so that the Trust balance is at least equal to the Minimum Balance. Notwithstanding the foregoing, Grantor shall have no obligation to make payments to the Trustee in excess of $100,000,000 (including the initial transfer of funds from the 1993 Trust) under or with respect to this Agreement.

Appears in 1 contract

Samples: Officers’ Indemnification Trust Agreement (Microsoft Corp)

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Maintenance of Minimum Balance. The Trustee agrees to provide monthly reports to Grantor and the Beneficiaries’ Representative showing the current fair market value of the Trust Fund. If any such report shows that the current fair market value of the Trust Fund is less than the Minimum Balance, then within ten (10) days after such report, Grantor agrees to deliver cash funds to the Trustee equal to the difference between the fair market value of the Trust Fund and the Minimum Balance so that the Trust balance is at least equal to the Minimum Balance. Notwithstanding the foregoing, Grantor shall have no obligation to make payments to the Trustee in excess of $100,000,000 (including the initial transfer of funds from the 1993 Trustfunds) under or with respect to this Agreement.

Appears in 1 contract

Samples: Indemnification Trust Agreement (Microsoft Corp)

Maintenance of Minimum Balance. The Trustee agrees to provide monthly reports to Grantor and the Beneficiaries' Representative showing the current fair market value of the Trust Fund. If any such report shows that the current fair market value Value of the Trust Fund is less than the Minimum Balance, then within ten (10) days after such report, Grantor agrees to deliver cash funds to the Trustee equal to the difference between the fair market value of the Trust Fund and the Minimum Balance so that the Trust thrust fund balance is at least equal to the Minimum Balance. Notwithstanding the foregoing, Grantor shall have no obligation to make payments to the Trustee in excess of $100,000,000 (including over the initial transfer term of funds from the 1993 Trust) under or with respect to this Trust Agreement.

Appears in 1 contract

Samples: Trust Agreement (Microsoft Corp)

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Maintenance of Minimum Balance. The Trustee agrees to provide monthly reports to Grantor and the Beneficiaries’ Representative showing the current fair market value of the Trust Fund. If any such report shows that the current fair market value of the Trust Fund is less than the Minimum Balance, then within ten (10) days after such report, Grantor agrees to deliver cash funds to the Trustee equal to the difference between the fair market value of the Trust Fund and the Minimum Balance so that the Trust balance is at least equal to the Minimum Balance. Notwithstanding the foregoing, Grantor shall have no obligation to make payments to the Trustee in excess of $100,000,000 400,000,000 (including the initial transfer of the 2009 Trust funds from and the 1993 Trustadditional funds pursuant to Section 4.4) under or with respect to this Agreement.

Appears in 1 contract

Samples: Officers’ Indemnification Trust Agreement (Microsoft Corp)

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