Common use of PRESERVATION OF TRUST FUNDS Clause in Contracts

PRESERVATION OF TRUST FUNDS. The Employer and the Union hereby agree that each and all of the existing Trust Funds provided for in this Agreement shall be continued for the life of this Agreement, with the exception of the Ancillary Fund, which is being merged. In order to preserve and maintain the existence of these Trust Funds, the parties hereto expressly agree that neither the Employer nor the Union shall enter into any agreement or understanding nor undertake to dissolve, sever, partition or divide any of these Trust Funds. It is also agreed and understood between the parties hereto that during the term of this Agreement each and all of these Trust Funds shall continue to be administered at a central neutral location. Notwithstanding the foregoing, the Individual Account Plan is being terminated in accordance with the time frame and procedures set forth in this Agreement.

PRESERVATION OF TRUST FUNDS. The Employer and the Union hereby agree that each and all of the existing Trust Funds provided for in this Agreement shall be continued for the life of this Agreement, with the exception of the Ancillary Fund, which is being merged. In order to preserve and maintain the existence of these Trust Funds, the parties hereto expressly agree that neither the Employer nor the Union shall enter into any agreement or understanding nor undertake to dissolve, sever, partition or divide any of these Trust Funds. It is also agreed and understood between the parties hereto that during the term of this Agreement each and all of these Trust Funds shall continue to be administered at a central neutral location. Notwithstanding the foregoing, the Individual Account Plan is being terminated in accordance with the time frame and procedures set forth in this Agreement.

PRESERVATION OF TRUST FUNDS. The Employer and the Union hereby agree that each and all of the existing Trust Funds provided for in this Agreement shall be continued for the life of this Agreement, with the exception of the Ancillary Fund, which is being merged. In order to preserve and maintain the existence of these Trust Funds, the parties hereto expressly agree that neither the Employer nor the Union shall enter into any agreement or understanding nor undertake to dissolve, sever, partition or divide any of these Trust Funds. It is also agreed and understood between the parties hereto that during the term of this Agreement each and all of these Trust Funds shall continue to be administered at a central neutral location. location.‌ Notwithstanding the foregoing, the Individual Account Plan is being terminated in accordance with the time frame and procedures set forth in this Agreement.

PRESERVATION OF TRUST FUNDS. The Employer and the Union hereby agree that each and all of the existing Trust Funds provided for in this Agreement shall be continued for the life of this Agreement, with the exception of the Ancillary Fund, which is being merged. In order to preserve and maintain the existence of these Trust Funds, the parties hereto expressly agree that neither the Employer nor the Union shall enter into any agreement or understanding nor undertake to dissolve, sever, partition or divide any of these Trust Funds. It is also agreed and understood between the parties hereto that during the term of this Agreement each and all of these Trust Funds shall continue to be administered at a central neutral location. Notwithstanding the foregoing, the Individual Account Plan is being terminated in accordance with the time frame and procedures set forth in this Agreement. collection of contributions, record keeping and payment of claims and shall acquire appropriate office equipment and hire necessary personnel.