Non-Beneficiaries. Upon the Effective Date of this Agreement, the Settlors and Reorganized Tronox shall have no interests including, without limitation, any reversionary interest, in the Cimarron Trust or any Cimarron Trust Assets. The State of Oklahoma and the United States shall be the sole beneficiaries of the Cimarron Trust Accounts, with the exception of the Standby Trust Fund, for which the NRC is the sole beneficiary. Neither Settlors nor Reorganized Tronox shall have any rights or interest to the Cimarron Trust Assets distributed to the Cimarron Trust Accounts, nor to any funds remaining in any of the Cimarron Trust Accounts upon the completion of any and all final actions and disbursements for any and all final costs with respect to the Cimarron Site.
Non-Beneficiaries. Upon the Effective Date of this Agreement, the Reorganized Debtors shall have no interests including, without limitation, any reversionary interest, in the Environmental Response Trust or any Environmental Trust Assets. The United States, the State of Michigan, and the State of Ohio shall be the sole beneficiaries of the Environmental Trust Accounts. Reorganized Debtors shall not have any rights or interest to the Environmental Trust Assets distributed to the Environmental Trust Accounts, nor to any funds remaining in any of the Environmental Trust Accounts upon the completion of any and all final actions and disbursements for any and all final costs with respect to the DPH Sites.
Non-Beneficiaries. Upon the Effective Date of the Agreement, except with respect to enforcement of the Henderson Leased Facility, the Settlors and Reorganized Tronox shall have no interests including, without limitation, any reversionary interest, in the Nevada Trust or any Nevada Trust Assets; provided, however, Tronox LLC shall have a leasehold interest in the Henderson Leased Facility as described in further detail in the Settlement Agreement and insurance reimbursement rights as described herein. The State of Nevada and the United States shall be the sole beneficiaries of the Nevada Trust Accounts and the other Nevada Trust Assets. Neither Settlors, Reorganized Tronox, nor Tenant shall have any rights or interest to the Nevada Trust Assets distributed to the Nevada Trust Accounts, nor to any funds remaining in any of the Nevada Trust Accounts upon the completion of any and all final actions and disbursements for any and all final costs with respect to the Henderson Property.
Non-Beneficiaries. Upon the Effective Date of this Agreement, the Settlors and Reorganized Tronox shall have no interests including, without limitation, any reversionary interest, in the West Chicago Trust or any West Chicago Trust Assets. The State of Illinois and the United States shall be the sole beneficiaries of the West Chicago Trust Accounts. Neither Settlors nor Reorganized Tronox shall have any rights or interest to the West Chicago Trust Assets distributed to the West Chicago Trust Accounts, nor to any funds remaining in any of the West Chicago Trust Accounts upon the completion of any and all final actions and disbursements for any and all final costs with respect to the West Chicago Trust Sites.
Non-Beneficiaries. PRPs submitting Invoices shall be bound by the provisions of this Agreement, but shall not be a party to the Agreement. PRPs’ sole rights and remedies at law and in equity with respect to Invoices are limited as expressly set forth in this Agreement, and PRPs submitting Invoices shall not xxx or assert any other claim or cause of action against the ERRT or the ERRT Trustee. PRPs shall not be third-party beneficiaries of any enforcement rights under this Agreement, other than the right to pursue binding arbitration in the event an Invoice is disallowed, as provided in Section 3.03(c) hereof.
Non-Beneficiaries. Upon the Plan Effective Date, the Settlor shall have no interest, including, without limitation, any reversionary interest, in the Texas Custodial Trust, any Custodial Trust Assets, or the proceeds thereof (except to the extent provided in Section 2.5 of this Agreement). 5.4 Transfer of Beneficial Interests. The interests of a Beneficiary in the Texas Custodial Trust, which are reflected only on the records of the Texas Custodial Trust maintained by the Texas Custodial Trust, are not negotiable and may be transferred only after written notice by such Beneficiary to the Texas Custodial Trust, by order of the Court, or by operation of law. The Texas Custodial Trust shall not be required to record any transfer in favor of any transferee which, in the sole discretion of the Texas Custodial Trust, is or might be construed to be ambiguous or to create uncertainty as to the holder of the interest in the Texas Custodial Trust. Until a transfer is in fact recorded on the books and records maintained by the Texas Custodial Trust for the purpose of identifying Beneficiaries, the Texas Custodial Trust, whether or not in receipt of documents of transfer or other documents relating to the transfer, may nevertheless make distributions and send communications to Beneficiaries, as though it has no notice of any such transfer, and in so doing the Texas Custodial Trust and Custodial Trustee shall be fully protected and incur no liability to any purported transferee or any other Person. Interests in the Texas Custodial Trust may not be transferred to ASARCO, the Debtors, the Reorganized Debtors, Americas Mining Corporation, ASARCO USA Incorporated, their successors, their affiliates, or any Persons related to any of the preceding (within the meaning of section 468B(d)(3) of the Internal Revenue Code), except to the extent provided in Section 2.5 of this Agreement.
Non-Beneficiaries. Upon the Effective Date of this Agreement, the Settlors shall have no interests including, without limitation, any reversionary interest, in the Environmental Custodial Trust or any Custodial Trust Assets.
Non-Beneficiaries. Upon the Effective Date of this Environmental Response Trust Agreement, the Debtors and the Liquidating Trust shall have no interests including, without limitation, any reversionary interest, in the Environmental Response Trust or any Environmental Response Trust Assets. The Environmental Response Trust Beneficiaries shall be the sole beneficiaries of the Environmental Response Trust accounts. The Debtors and the Liquidating Trust / Trustee shall not have any rights or interest to the Environmental Response Trust Assets distributed to the Environmental Response Trust accounts, nor to any funds remaining in any of the Environmental Response Trust accounts upon the completion of any and all final actions and disbursements for any and all final costs with respect to the Environmental Response Trust.
Non-Beneficiaries. Upon the transfer of the Assets pursuant to Sections 2.2 and 2.3 of this Agreement, the Debtors shall have no interests including, without limitation, any reversionary interest, in the Environmental Response Trust or any Environmental Trust Assets, except as provided in the Settlement Agreement regarding the Gulfport Adjoining Parcels, and shall have no rights, claims or causes of action for any interest in the Environmental Trust Assets or against any Environmental Trust Protected Party for undertaking any action or obligation under the Settlement Agreement or this Agreement.
Non-Beneficiaries. Upon the Plan Effective Date, the Settlor shall have no interest, including, without limitation, any reversionary interest, in the Texas Custodial Trust, any Custodial Trust Assets, or the proceeds thereof (except to the extent provided in Section 2.5 of this Agreement).
