Payment from Trust. You acknowledge and agree that the Company may satisfy one or more of its obligations to make payments to you hereunder by causing such payments to be made from the Syncora Guarantee Services Inc. Employee Trust (the “Trust”). You agree that any such payment made by the Trust shall fully satisfy and discharge the Company’s obligation to make such payment to you hereunder (but only to the extent of such payment).
Payment from Trust. The Trustees are authorized to pay from the assets of the trust the deceased Settlor’s debts and expenses that the deceased Settlor’s Executors may request. If there are insufficient assets in the deceased Settlor’s probate estate to make any gifts provided under the deceased Settlor’s Will or to pay the deceased Settlor’s debts and expenses, or if there are sufficient assets in the deceased Settlor’s probate estate but, in the sole judgment of the Trustees, it would be to the advantage of the estate that those gifts or payments be made from the assets in the trust, the Trustees may pay from the assets of the trust all of those gifts, debts, and expenses. If the assets of the deceased Settlor’s probate estate (exclusive of residential real property and tangible personal property) are insufficient to pay all unsecured debts, funeral expenses, and expenses of administration, the Trustees may pay to the deceased Settlor’s estate from the principal of the trust estate that amount that the deceased Settlor’s Executors may request for those purposes. The Trustees shall not be under any duty to take part in determining the amount of those debts or expenses, and may rely upon the written certification of the deceased Settlor’s Executors for the amount to be paid as authorized by these provisions. The Trustees shall be under no duty to see to the application of any such payment. The Trustees shall not require any reimbursement for payments made to the deceased Settlor’s Executors.
Payment from Trust. [TEXT OMITTED FOR DEMO PURPOSES]
