Payment for Undertaking Perpetual Management Activities. The Trustee shall make payments from the Fund as 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 Agency from the Fund for perpetual management expenditures in such amounts as the Agency shall direct 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:
Appears in 4 contracts
Samples: Trust Fund Agreement, Trust Fund Agreement, Trust Fund Agreement
