Common use of Payments to Trustee Clause in Contracts

Payments to Trustee. Any payment made to a trustee(s) will be subject to the following: a) Evidence of qualification of the trust must be furnished to us within 90 days of the effective date such payment is due. b) Such payment will be made to the executor or administrator of the estate of the deceased payee if evidence of qualification is not provided within such 90 days or if such trustee(s) disclaim all right to receive such payment. It is understood and agreed that the Company is not a party to or bound by the conditions of the trust. Payment to such trustee(s), or to the executor or administrator, if for any reason such trustee(s) does not qualify as provided herein, will be a complete discharge of the Company's obligations hereunder to the extent of the payments made. The Company will be under no further obligation to oversee administration of such payments.