Maintenance of Trust. On or before each April 30, beginning in 2001, so long as any of the Securities are outstanding, the Master Servicer shall furnish to the Insurer and the Indenture Trustee the legal opinion required under Section 11.02(i)(2) of the Sale and Servicing Agreement. The Master Servicer will use its best efforts to cause any necessary recordings or filings to maintain the interest of the Indenture Trustee in the Trust Estate.
Maintenance of Trust. On or before each March 31, beginning in 2006, so long as any of the Obligations are outstanding, and promptly after the execution and delivery of each amendment to any financing statement, the Servicer shall furnish to the Insurer and the Indenture Trustee an officers’ certificate and an opinion of counsel as described in Section 3.6(b) of the Indenture, either stating that such action has been taken with respect to the recording, filing, rerecording and refiling of any financing statements and continuation statements as is necessary to maintain the interest of the Indenture Trustee created by the Indenture with respect to the Trust and reciting the details of such action or stating that no such action is necessary to maintain such interests. Such officers’ certificate shall also describe the recording, filing, rerecording and refiling of any financing statements and continuation statements that will be required to maintain the interest of the Indenture Trustee in the Trust until the date such next officers’ certificate is due. The Servicer will use its best efforts to cause any necessary recordings or filings to be made with respect to the Trust.
Maintenance of Trust. On or before each December 1 beginning in 1999, so long as any of the Obligations are outstanding, RBMG shall furnish to the Insurer and the Indenture Trustee an officers' certificate either stating that such action has been taken with respect to the recording, filing, rerecording and refiling of any financing statements and continuation statements as is necessary to maintain the interest of the Indenture Trustee created by the Indenture with respect to the Trust Estate and reciting the details of such action or stating that no such action is necessary to maintain such interests. Such officers' certificate shall also describe the recording, filing, rerecording and refiling of any financing statements and continuation statements that will be required to maintain the interest of the Indenture Trustee in the Trust Estate until the date such next officers' certificate is due.
Maintenance of Trust. On or before each March 21, beginning in 1997, so long as any of the Securities are outstanding, the Master Servicer shall furnish, or cause to be furnished, to the Insurer and the Trustee an Officers' Certificate either stating that such action has been taken with respect to the recording, filing, rerecording and refiling of any financing statements and continuation statements as is necessary to maintain the interest of the Trustee created by the PSA with respect to the Trust and reciting the details of such action or stating that no such action is necessary to maintain such interests. Such Officers' Certificate shall also describe the recording, filing, rerecording and refiling of any financing statements and continuation statements that will be required to maintain the interest of the Trustee in the Trust until the date such next Officers' Certificate is due. The Master Servicer will use its best efforts to cause any necessary recordings or filings to be made with respect to the Trust.
Maintenance of Trust. (a) Company has previously deposited with Trustee in trust certain amounts which currently constitute the principal of the Trust and shall continue to be held, administered and disposed of by Trustee as provided in this Trust Agreement along with such additional contributions as may be deposited with Trustee in the future.
(b) The Trust hereby established shall be irrevocable, except to the extent provided in Section 4.
(c) The Trust is intended to be a grantor trust, of which each Employer is the grantor with respect to the portion attributable to its contributions, within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Internal Revenue Code of 1986, as amended, and shall be construed accordingly. The Company or another Employer shall pay any and all federal, state or local taxes on the Trust, or any part thereof, and on the income of the Trust.
(d) The principal of the Trust, and any earnings thereon shall be held separate and apart from other funds of the Employers and shall be used exclusively for the uses and purposes of Plan participants and their beneficiaries and general creditors as herein set forth. Plan participants and their beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plans and this Trust Agreement shall be unsecured contractual rights of Plan participants and their beneficiaries against the Employers. Any assets held by the Trust which are attributable to the contributions made by a particular Employer will be subject to the claims of that Employer’s general creditors under federal and state law in the event of Insolvency, as defined in Section 3(a) herein.
(e) Company, in its sole discretion, may at any time, or from time to time, make (or cause other Employers to make) additional deposits of cash or other eligible property in trust with Trustee to augment the principal to be held, administered and disposed of by Trustee as provided in this Trust Agreement. Neither Trustee nor any Plan participant or beneficiary shall have any right to compel such additional deposits.
(f) The following provisions shall apply in the event of an actual or potential Change of Control as defined in Section 13(d):
(1) In the event there is scheduled a duly called shareholders meeting of Company with respect to which any person or entity has filed a definitive proxy statement with the Securities and Exchange Commission soliciting proxies t...
Maintenance of Trust. The parties hereto, by the execution of this amended and restated Plan and Trust Agreement, do hereby continue an Employees’ Trust to effect a plan for the payment of the deferred benefits to the Employer’s Employees and their Beneficiaries, out of funds contributed by the Employer, and the earnings, income and appreciation thereon, such funds to be governed and administered in accordance with the terms of this Plan and Trust Agreement.
Maintenance of Trust. The Company will use its reasonable efforts to cause the Trust (i) to remain a statutory business trust, (except as provided in the Declaration) and (ii) to otherwise continue to be classified as a grantor trust for United States Federal income tax purposes.
Maintenance of Trust. (a) On the Effective Date, Reinsurer and Reinsured shall enter into the Trust Agreement and establish a Trust Account for the benefit of the holders of the Policies and of Reinsured. At the end of each calendar month ending before the second anniversary of the Effective Date, the Market Value (as defined below) of Assets held in the Trust Account plus an amount equal to the principal amount of the policy loans under the Policies, excluding the Withheld Policy Loans (defined below) (together the "Asset Value") shall equal or exceed 80% of the Trust Statutory Reserves (as defined below). "Withheld Policy Loans" shall mean those policy loans which (i) are held as funds withheld for Lincoln National Reinsurance Company, Ltd. and are not Assets of the Trust Account or (ii) have been transferred to Oxford Life Insurance Company ("Oxford") pursuant to the Reinsurance Agreement by and between John Xxxxx Xxxe Insurance Company and Oxford dated January 1, 1989 to the extent such policy loans are assets of Oxford. At the end of each calendar month subsequent to such two-year period, the Asset Value of the Trust Account shall equal or exceed 100% of the Trust Statutory Reserves; "Statutory Reserves" shall have the meaning set forth in Section 5.5 hereof and Trust Statutory Reserves shall equal the Statutory Reserves less the Statutory Reserves with 25 respect to Annuity Contracts and Additional Policies reinsured under the RSL Agreements. Notwithstanding the foregoing, the Trust Statutory Reserves may be reduced, on or after the first day of each month, by an amount equal to the Statutory Reserves on any Policies with a Novation Date (as defined in Section 2.4 of the Assumption Reinsurance Agreement) as of that first day of such month.
Maintenance of Trust. On or before each August 1 beginning in 2000, so long as any of the Obligations are outstanding, the Issuer shall furnish to the Insurer and the Indenture Trustee an officers' certificate either stating that such action has been taken with respect to the recording, filing, rerecording and refiling of any financing statements and continuation statements as is necessary to maintain the interest of the Indenture Trustee created by the Indenture with respect to the Trust and reciting the details of such action or stating that no such action is necessary to maintain such interests. Such officers' certificate shall also describe the recording, filing, rerecording and refiling of any financing statements and continuation statements that will be required to maintain the interest of the Indenture Trustee in the Trust until the date such next officers' certificate is due. The Issuer will use its best efforts to cause any necessary recordings or filings to be made with respect to the Trust.
Maintenance of Trust. Not less than ninety days prior to the date on which continuation statements relating to the UCC financing statements filed in connection with the Closing (i) naming Long Beach as debtor and the Depositor as secured party and (ii) naming the Depositor as debtor and the Trustee as secured party, are required to be filed under the applicable Uniform Commercial Code, the Trustee shall notify the Depositor, Long Beach and the Certificate Insurer of the date by which such continuation statements are required to be filed. Upon receipt of the continuation statements required to be filed, prepared and executed by the Depositor or Long Beach, as applicable, the Trustee shall cause such continuation statements to be filed as instructed by the Depositor. The Depositor agrees to prepare, execute (with respect to continuation statements that it is required to execute) and deliver to the Trustee the continuation statements. The Trustee shall deliver to the Certificate Insurer copies of the continuation statements as filed and stamped by the appropriate filing office. END OF ARTICLE X
