Payment from the Fund. All compensation, expenses, taxes and assessments in respect of the Fund, to the extent that they are not paid by the Corporation, shall constitute a charge upon the Fund and be paid by the Master Trustee from the Fund upon written notice to the Corporation.
Payment from the Fund. The Trustee shall make payments from the Fund as the TCEQ executive director shall direct, in writing, to provide for the payment of the costs of reclamation at the quarry or restoration related to the quarry(ies) covered by this Agreement. The Trustee shall reimburse the Grantor or other persons as specified by the TCEQ executive director from the Fund for expenditures for reclamation at the quarry or restoration related to the quarry in such amounts as the TCEQ executive director shall direct in writing. In addition, the Trustee shall refund to the Grantor such amounts as the TCEQ executive director specifies in writing. Upon refund, such funds shall no longer constitute part of the Fund as defined herein.
Payment from the Fund. (a) EXCEPT AS PROVIDED IN PARAGRAPH (b) BELOW, PROPERLY APPROVED REASONABLE FEES AND EXPENSES OF ANY OF THE FOLLOWING SHALL BE PAID FROM THE FUND AND SHALL CONSTITUTE A CHARGE ON THE FUND UNTIL SO PAID: THE MASTER TRUSTEE, ANY OTHER MASTER TRUSTEE, ANY INVESTMENT MANAGER, ANY FEES FROM THE PLAN'S AUDITORS, ANY FEES FROM THE PLAN'S RECORDKEEPER, LEGAL FEES, ANY INVESTMENT ADVISOR AND ANY OTHER COSTS AND FEES RELATED TO THE FUND; PROVIDED, HOWEVER, THAT IN NO EVENT SHALL THE FUND PAY ANY SUCH FEES OR EXPENSES INCURRED:
(1) FOR PREPARATION OR PROSECUTION OF ANY ACTION AGAINST THE CORPORATION, THE PLANS, THE PLAN ADMINISTRATOR OR ANY MEMBER OF THE BENEFIT COMMITTEE, OR
(2) FOR THE DEFENSE OR SETTLEMENT OF, OR THE SATISFACTION OF A JUDGMENT RELATED TO, ANY PROCEEDING ARISING EITHER OUT OF ANY ALLEGED MISFEASANCE OR NONFEASANCE IN ANY PERSON'S PERFORMANCE OF DUTIES WITH RESPECT TO THE PLANS OR OUT OF ANY ALLEGED WRONGFUL ACT AGAINST THE PLANS. NEITHER THE PLAN ADMINISTRATOR NOR ANY MEMBER OF THE BENEFIT COMMITTEE SHALL BE COMPENSATED FROM THE PLANS BUT MAY BE COMPENSATED BY THE CORPORATION FOR SERVICES RENDERED ON BEHALF OF THE PLANS. THE CORPORATION MAY, IF IT DEEMS NECESSARY, PAY THESE FEES AND EXPENSES DIRECTLY AND MAY OR MAY NOT SEEK REIMBURSEMENT FROM THE FUND. (b) BROKERAGE FEES, COMMISSIONS, STOCK TRANSFER TAXES AND OTHER CHARGES AND EXPENSES INCURRED IN CONNECTION WITH TRANSACTIONS RELATED TO THE ACQUISITION OR DISPOSITION OF PROPERTY FOR OR OF THE MASTER TRUST, INCLUDING ANY PART SEGREGATED IN AN INVESTMENT MANAGER ACCOUNT, OR DISTRIBUTIONS THEREFROM SHALL BE PAID FROM THE FUND, INCLUDING ANY PART SEGREGATED IN AN INVESTMENT MANAGER ACCOUNT. TAXES, IF ANY, PAYABLE BY THE MASTER TRUSTEE ON THE ASSETS AT ANY TIME HELD IN THE FUND OR ON THE INCOME THEREOF SHALL BE PAID FROM THE FUND.
Payment from the Fund. The Trustee shall make payments from the Fund as the TCEQ executive director shall direct, in writing, to provide for the payment of the costs of closure, post closure, or corrective action of the facilities covered by this Agreement. The Trustee shall reimburse the Grantor or other persons as specified by the TCEQ executive director from the Fund for closure, post closure, or corrective action expenditures in such amounts as the TCEQ executive director shall direct in writing. In addition, the Trustee shall refund to the Grantor such amounts as the TCEQ executive director specifies in writing. Upon refund, such funds shall no longer constitute part of the Fund as defined herein.
Payment from the Fund. The Trustee shall make payments from the Fund only upon written requests by the Grantor or the Cabinet as set forth in Article 15 and in accordance with the following conditions:
(a) Except for the purposes of investing and reinvesting the monies in the Fund, and for paying trust administration expenses as allowed herein, the Trustee shall not make any payments from the Fund until it has first. received written notification from the Cabinet that closure activities have begun at the Facility.
(b) After the Cabinet has notified the Trustee that corrective action has begun, the Trustee shall, upon written request by the Grantor, make payment(s) or reimbursement(s) to the Grantor for closure or post closure care expenditures. Such written request by the Grantor shall be accompanied by the written approval of the expenditures by the Cabinet.
(c) The Grantor’s written request to the Trustee shall include a list of the groundwater corrective action activities for which payment or reimbursement is being sought, and the amount of payment or reimbursement to be made.
(d) The Trustee shall provide written notice to the Grantor and the Cabinet of any payments made from the Fund.
(e) The Trustee is authorized to make payments from the Fund at the Cabinet’s direction in accordance with Article 18.
