Common use of Payments to Trust Beneficiary Clause in Contracts

Payments to Trust Beneficiary. 6.1 The Company shall provide the Trustee with payment instructions that indicate the amounts payable to each Trust Beneficiary, the form in which such amounts are to be paid (as provided for under the Plan) and the time of commencement for payment of such amounts. Except as otherwise provided herein, the Trustee shall make payments out of the Trust Fund to Trust Beneficiaries in accordance with such payment instructions. Pursuant to instructions by the Company, the Trustee shall withhold federal and state income taxes from each payment made under this Trust Agreement at the rate(s) designated by the Company and shall report and pay such amounts to the appropriate federal and state taxing authorities. The Trustee shall rely completely on the Company's instructions and shall have no duty to inquire into the accuracy of such instructions. The Trustee also shall rely completely on the Company's determination, without any duty of inquiry, with respect to any failure of the Plan to comply with Section 409A of the Code. The Trustee shall have no tax reporting or withholding obligations with respect to contributions made to the Trust or any taxable income or excise tax resulting from any failure to comply with Section 409A of the Code.

Payments to Trust Beneficiary. 6.1 The Company Employer shall provide the Trustee with payment instructions that indicate the amounts payable to each Trust Beneficiary, the form in which such amounts are to be paid (as provided for under the Plan) and the time of commencement for payment of such amounts. Except as otherwise provided herein, the Trustee shall make payments out of the Trust Fund to Trust Beneficiaries in accordance with such payment instructions. Pursuant to instructions by the CompanyEmployer, the Trustee shall withhold federal and state income taxes from each payment made under this Trust Agreement at the rate(s) designated by the Company Employer and shall report and pay such amounts to the appropriate federal and state taxing authorities. The Trustee shall rely completely on the Company's Employer instructions and shall have no duty to inquire into the accuracy of such instructions. The Trustee also shall rely completely on the Company's Employer’s determination, without any duty of inquiry, with respect to any failure of the Plan to comply with Code Section 409A of the Code. 409A. The Trustee shall have no tax reporting or withholding obligations with respect to contributions made to the Trust or any taxable income or excise tax resulting from any failure to comply with Code Section 409A of the Code.409A.

Payments to Trust Beneficiary. 6.1 The Company shall provide the Trustee with payment instructions that indicate the amounts payable to each Trust Beneficiary, the form in which such amounts are to be paid (as provided for under the Plan) and the time of commencement for payment of such amounts. Except as otherwise provided herein, the Trustee shall make payments out of the Trust Fund to Trust Beneficiaries in accordance with such payment instructions. Pursuant to instructions by the Company, the Trustee shall withhold federal and state income taxes from each payment made under this Trust Agreement at the rate(s) designated by the Company and shall report and pay such amounts to the appropriate federal and state taxing authorities. The Trustee shall rely completely on the Company's ’s instructions and shall have no duty to inquire into the accuracy of such instructions. The Trustee also shall rely completely on the Company's ’s determination, without any duty of inquiry, with respect to any failure of the Plan to comply with Section 409A of the Code. The Trustee shall have no tax reporting or withholding obligations with respect to contributions made to the Trust or any taxable income or excise tax resulting from any failure to comply with Section 409A of the Code.