Payments by the Trustee. 6.1 The establishment of the Trust and the payment or delivery to the Trustee of money or other property acceptable to the Trustee shall not vest in any Trust Beneficiary any right, title or interest in and to any assets of the Trust.
6.2 The Trustee shall pay to the Company upon the written request of the Company the amount of Supplemental Benefits paid by the Company to Trust Beneficiaries.
6.3 To the extent that the Company has not made a payment of Supplemental Benefits in accordance with the Payment Schedule to Trust Beneficiaries, such Beneficiaries may provide written notice to the Trustee and to the Company. The Trustee shall thereupon make direct payments of Supplemental Benefits to the Trust Beneficiaries from the assets of the Trust, if and to the extent such assets are available for distribution, in accordance with the Payment Schedule. In the event that the Company notifies the Trustee in writing that any Trust Beneficiary is not entitled to receive a direct payment because the Company is making payments of Supplemental Benefits to the Trust Beneficiary, the Trustee shall suspend all payments to such Trust Beneficiary until he receives written notification from the Company or an order from a court of competent jurisdiction to make direct payments to such Trust Beneficiary. The Trustee shall not make a payment to a Trust Beneficiary to the extent that the amount of the payment required by such Payment Schedule exceeds the amount then held in the Trust. In the event that a Trust Beneficiary is deceased and the Payment Schedule provides for a payment to be made to such Trust Beneficiary on or after such Trust Beneficiary’s death, such payment shall be made to the legal representative of such Trust Beneficiary’s estate.
6.4 If the Trust assets are not sufficient to make one or more payments of Supplemental Benefits to a Trust Beneficiary (or his or her estate) in accordance with the Payment Schedule, the Company shall make the balance of such payment when it falls due.
6.5 Subject to Section 17.2 and except as provided in Section 8 regarding payments to Trust Beneficiaries if the Company is insolvent, but notwithstanding any other provision of this Trust Agreement to the contrary, if at any time (i) the Trust is finally determined by the Internal Revenue Service (the “IRS”) not to be a “grantor trust,” with the result that the income of the Trust Fund is not treated as income of the Company pursuant to Sections 671 through 679 of the Code, (ii) a ...
Payments by the Trustee. The Trustee shall give or procure that there be given notice to the Noteholders of the day fixed for any payment to them under Clause 7.1. Any such payment, which may be made in the same manner as provided in the Conditions, shall be a good discharge to the Issuer and the Trustee pro tanto.
Payments by the Trustee. (a) The Company shall deliver to the Trustee instructions acceptable to the Trustee for determining the amounts payable to each Plan participant hereunder (including his or her beneficiaries), the form in which such amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. Except as otherwise provided herein, the Trustee shall make payments to Plan participants and their beneficiaries in accordance with such instructions. The Trustee shall deduct from each payment under this Agreement, based on information provided to the Trustee by the Company, any federal, state or local withholding or other taxes or charges which the Trustee may be required to deduct under applicable laws.
(b) The entitlement of a Plan participant or his or her beneficiaries to benefits under the Plan shall be determined by the Company or such party as it shall designate under the Plan, and any claim for such benefits shall be considered and reviewed under the procedures set forth in the Plan.
(c) The Company may make payment of benefits directly to Plan participants or their beneficiaries as they become due under the terms of the Plan. The Company shall notify the Trustee of its decision to make payment of benefits directly prior to the time amounts are payable to participants or their beneficiaries. In addition, if the principal of the Trust and any earnings thereon, are not sufficient to make payment of benefits in accordance with the terms of the Plan, the Company shall make the balance of each such payment as it falls due. The Trustee shall notify the Company in any event in which the principal and earnings are not sufficient.
(d) Notwithstanding any provision of this agreement to the contrary, if at any time the Trust is finally determined by the Internal Revenue Service (the "IRS") not to be a "grantor trust", with the result that the income of the Trust is not treated as income of the Company pursuant to Sections 671-679 of the Code, or if a tax is finally determined by the IRS to be payable by Plan participants or their beneficiaries with respect to the vested interest in the entire value of the accounts maintained under the Trust prior to the final distribution of the assets of such accounts to such Plan participants or their beneficiaries, then the Trust shall immediately continue to hold the assets in the Trust pending further instruction from the Company.
Payments by the Trustee. The Trustee shall give or procure that there be given notice to the relevant Holders in accordance with Condition 13 of the day fixed for any payment to them under Clause
Payments by the Trustee. Payments of money or property from ----------------------- the trust fund shall be made by the Trustee for any purpose authorized under the Plan upon written direction from the Plan Administrator. The Trustee shall have no duty to inquire whether directions by the Plan Administrator conform to the Plan provisions. If the Plan Administrator directs that any payment or payments be made or continued contingent upon future events, it shall be the responsibility of the Plan Administrator to notify the Trustee in writing that the event has occurred and any payments made by the Trustee prior to the date of such notification shall, as to the Trustee, be proper payments. Payments by the Trustee shall be delivered or mailed to addresses supplied by the Plan Administrator and the Trustee's obligation to make such payments shall be satisfied upon such delivery or mailing. The Trustee shall have no obligation to determine the identity of persons entitled to benefits or their mailing addresses.
Payments by the Trustee. Upon the execution and delivery of the Site Lease and this Lease, the Trustee shall deposit the amount of $[1,300,000] with the Escrow Agent pursuant to the terms of the Site Lease, Indenture and Escrow Agreement, to defease the portion of the Series 2006A Certificates allocated to the City’s Golf Enterprise Fund and otherwise complete the Series 2020A Refunding Project. Such amounts shall be disbursed by the Escrow Agent in accordance with the terms of the Escrow Agreement. The City hereby further authorizes the payment of the Series 2006A Certificates in the manner and form provided by the Escrow Agreement, authorizes the purchase of the Federal Securities described in the Escrow Agreement, and authorizes the completion and execution of the Escrow Agreement. Upon the execution and delivery of the Site Lease and this Lease, the Trustee shall pay to City the amount of $[4,555,000] pursuant to the terms of the Site Lease and Indenture, less any amounts deposited to the Cost of Execution and Delivery Fund in accordance with the Indenture. The City will use this amount to pay costs related to the Series 2020B Irrigation Project. The City reserves the right to modify or add items to the Leased Property. No such change in the Leased Property shall increase the amount of moneys required to be deposited by the Trustee pursuant to this Article, or alter the Base Rentals set forth in Exhibit A. The Trustee shall have no obligation whatsoever with the operation of the Leased Property other than the obligations to provide the City the proceeds of the Site Lease as set forth therein and in this Article.
Payments by the Trustee. The Trustee shall, from time to time, make payments out of the Trust Fund to the persons or entities to whom such monies are to be paid in such amounts and for such purposes as may be specified by the Trustee. To the extent permitted by law, the Plan Administrator shall be under no liability for any payment made pursuant to the direction of the Trustee. Any payment by the Trustee shall constitute a certification that the distribution or payment so made is one which the Trustee is authorized to make.
Payments by the Trustee. At or before the close of business on the Delivery Date and upon receipt by the Trustee of the Purchase Price of the Tendered Bonds that are delivered to it, the Trustee shall pay the Purchase Price of the Tendered Bonds to the registered owners thereof as provided in the applicable form of Bonds. The Trustee shall apply in order, first, moneys paid to it by the Remarketing Agent or by new purchasers of the Tendered Bonds tendered as proceeds of the remarketing of such Bonds by the Remarketing Agent, second, moneys drawn on the Credit Facility for the purpose of purchasing Tendered Bonds (including amounts drawn on the Credit Facility to pay accrued interest on the Tendered Bonds), and third, moneys paid to it by the Borrower. If sufficient funds are not available for the purchase of all Bonds tendered on any Delivery Date, no purchase shall be consummated.
Payments by the Trustee. 6.1 The establishment of the Trust and the payment or delivery to the Trustee of money or other property acceptable to the Trustee shall not vest in any Member any right, title or interest in and to any assets of the Trust Fund or any payments except upon the occurrence, if any, of a Change in Control, as defined in Section 12.1 below, in which event the right, title and interest of a Member in any assets of the Trust Fund shall be determined solely pursuant to Section 6.4 of this Trust Agreement.
6.2 The Company shall from time to time provide the Trustee with a list of Members, indicating an amount payable to each Member upon such Member's termination of employment for any reason following the occurrence, if any, of a Change in Control, as of the dates therein indicated and subject to adjustments as therein indicated. This document shall be called the "Payment
6.3 Prior to the occurrence, if any, of a Change in Control, and with respect to any amounts remaining in the Trust Fund after the payments required by Section 6.4 of this Trust Agreement following the occurrence of a Change in Control have been made, the Trustee shall make such payments from the Trust Fund at such time or times to such person or persons, including the Company, at such addresses and in such amounts-and for such purposes as the Company shall specify; the Trustee shall not make any such payments from the Trust Fund without the written direction of the Company (except as may otherwise be required by a court having competent jurisdiction) even though it may be informed from another source (including a Member) that payments are due under the Plan. The Trustee shall, to the maximum extent permitted by applicable law, be fully protected in acting upon any such written direction of the Company (or the failure to give such written direction) pursuant to this Section 6.3, and shall have no duty to determine the rights of any person in the Trust Fund or under the Plan or to inquire into the right or power of the Company to grant any payment to a Member or to direct any such payment.
(a) In the event of the occurrence of a Change in Control, the amount specified, and/or determined from the formulae and adjustments contained, in the Payment Schedule then in effect, shall, subject to Section 6.4(d), be paid by the Trustee to each Member listed thereon as a former employee of the Company (or to the Beneficiary designated on the Payment Schedule or, absent such a designation, to the legal represen...
Payments by the Trustee. 6.1. The Company will deliver to the Trustee at least annually a schedule (the Payment Schedule) that indicates the amounts payable in respect of each Member and Beneficiary, that provides a formula or other instructions acceptable to the Trustee for determining the amounts so payable, the form in which that amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of that amount. Except as otherwise provided in this Trust Agreement, the Trustee will make payments to the Members and Beneficiaries in accordance with the Payment Schedule. On and after a Change in Control, the Trustee will make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Plan and will pay amounts withheld to the appropriate taxing authorities or determine that those amounts have been reported, withheld and paid by the Company. Prior to a Change in Control, the Company is responsible for that reporting, withholding and payment.
6.2. The entitlement of a Member or Beneficiary to benefits under the Plan will be determined by Company or a party it designates under the Plan, and any claim for those benefits will be considered and reviewed under the procedures set out in the Plan.
6.3. Prior to a Change in Control or, if earlier, until it notifies the Trustee otherwise, the Company will make payment of benefits directly to Members and Beneficiaries as they become due under the terms of the Plan. The Company will notify the Trustee of its decision to not make payment of benefits directly prior to the time amounts are payable to Members and Beneficiaries. In addition, if the principal of the Trust, and any earnings on it, are not sufficient to make payments of benefits in accordance with the terms of the Plan, the Company will make the balance of each such payment as it falls due. The Trustee will notify the Company when principal and earnings are not sufficient.
(a) On a Change in Control, the Trustee first must obtain from the Company a current Payment Schedule, and then determine if the Company has paid any of the amounts listed on it. To the extent the Company has not paid any amount due to be paid pursuant to the Payment Schedule, the Trustee will pay the amount specified or determined from the formulas and adjustments, in the then current Payment Schedule, subject to Sections 6.5 and 6.6, to each Member l...
