Common use of Payment for Undertaking Perpetual Management Activities Clause in Contracts

Payment for Undertaking Perpetual Management Activities. The Trustee shall make payments from the Fund as the Grantor or the Secretary or Executive Director of the Agency, or designee, shall direct in writing to provide for the payment of the costs of undertaking activities to provide for the perpetual management of the Mitigation Bank covered by this Agreement pursuant to the requirements of the Mitigation Bank Permit. The Trustee shall reimburse persons specified by the Grantor or the Agency from the Fund for perpetual management expenditures in such amounts as the Grantor or the Agency shall direct in writing. In the event of conflicting instructions from the Grantor and the Agency, the Agency’s instructions shall prevail. The Trustee shall not make any payments from the principal of the Fund pursuant to the Grantor’s direction without the Department’s written consent. The Trustee shall cease honoring Grantor’s instructions if so directed by the Agency in writing. In addition, the Trustee shall refund to the Grantor such amounts as the Agency specifies in writing as unnecessary or excessive corpus for purposes of the trust. Upon refund, such funds shall no longer constitute part of the Fund as defined herein. The Fund may not be drawn upon to cover any of the following:

Payment for Undertaking Perpetual Management Activities. The Trustee shall make payments from the Fund as the Grantor or the Secretary or Deputy Executive Director of the Agency, or designee, Resource Regulation shall direct in writing to provide for the payment of the costs of undertaking activities to provide for the perpetual management of the Mitigation Bank mitigation bank covered by this Agreement pursuant to the requirements of the Mitigation Bank Permitmitigation bank permit. The Trustee shall reimburse persons specified by the Grantor or the Agency District from the Fund for perpetual management expenditures in such amounts as the Grantor or the Agency District shall direct in writing. In the event of conflicting instructions from the Grantor and the AgencyDistrict, the Agency’s District's instructions shall prevail. The Trustee shall not make any payments from the principal of the Fund pursuant to the Grantor’s 's direction without the Department’s District's written consent. The Trustee shall cease honoring Grantor’s 's instructions if so directed by the Agency District in writing. In addition, the Trustee shall refund to the Grantor such amounts as the Agency District specifies in writing as unnecessary or excessive corpus for purposes of the trustwriting. Upon refund, such funds shall no longer constitute part of the Fund as defined herein. The Fund may not be drawn upon to cover any of the following:

Payment for Undertaking Perpetual Management Activities. The Trustee shall make payments from the Fund as the Grantor or the Secretary or Executive Director of the AgencyEnvironmental Resource Permitting Bureau Chief, or designee, shall direct in writing to provide for the payment of the costs of undertaking activities to provide for the perpetual management of the Mitigation Bank mitigation bank covered by this Agreement pursuant to the requirements of the Mitigation Bank Permitmitigation bank permit. The Trustee shall reimburse persons specified by the Grantor or the Agency District from the Fund for perpetual management expenditures in such amounts as the Grantor or the Agency District shall direct in writing. In the event of conflicting instructions from the Grantor and the AgencyDistrict, the AgencyDistrict’s instructions shall prevail. The Trustee shall not make any payments from the principal of the Fund pursuant to the Grantor’s direction without the DepartmentDistrict’s written consent. The Trustee shall cease honoring Grantor’s instructions if so directed by the Agency District in writing. In addition, the Trustee shall refund to the Grantor such amounts as the Agency District specifies in writing as unnecessary or excessive corpus for purposes of the trustwriting. Upon refund, such funds shall no longer constitute part of the Fund as defined herein. The Fund may not be drawn upon to cover any of the following:

Payment for Undertaking Perpetual Management Activities. The Trustee shall make payments from the Fund as the Grantor or the Secretary or Executive Regulation Director of the Agency, or designee, Division of Resource Regulation shall direct in writing to provide for the payment of the costs of undertaking activities to provide for the perpetual management of the Mitigation Bank mitigation bank covered by this Agreement pursuant to the requirements of the Mitigation Bank Permitmitigation bank permit. The Trustee shall reimburse persons specified by the Grantor or the Agency District from the Fund for perpetual management expenditures in such amounts as the Grantor or the Agency District shall direct in writing. In the event of conflicting instructions from the Grantor and the AgencyDistrict, the AgencyDistrict’s instructions shall prevail. The Trustee shall not make any payments from the principal of the Fund pursuant to the Grantor’s direction without the DepartmentDistrict’s written consent. The Trustee shall cease honoring Grantor’s instructions if so directed by the Agency District in writing. In addition, the Trustee shall refund to the Grantor such amounts as the Agency District specifies in writing as unnecessary or excessive corpus for purposes of the trustwriting. Upon refund, such funds shall no longer constitute part of the Fund as defined herein. The Fund may not be drawn upon to cover any of the following: