Common use of Property of Trust Clause in Contracts

Property of Trust. (a) Title to all of the moneys paid into the Trust and all of the property of the Trust shall be vested in and remain exclusively in the Trustees. No Employer, Employee or Beneficiary, Union, Local Union or employer association shall have any right, title or interest in any of the moneys or property of the Trust. The Trust shall constitute an irrevocable trust for the sole and exclusive benefit of Employees and Beneficiaries entitled to benefits under this Trust Agreement. No benefits, moneys or property of the Trust shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge and any attempt to so subject the same shall be null and void.

Property of Trust. (a) Title to all of the moneys paid into the Trust and all of the property of the Trust shall be vested in and remain exclusively in the Trustees. No Employer, Employee or Beneficiary, Union, Local Union or employer association Employer Association shall have any right, title or interest in any of the moneys or property of the Trust. The Trust shall constitute an irrevocable trust for the sole and exclusive benefit of Employees and Beneficiaries entitled to benefits under this Trust Agreement. No benefits, moneys or property of the Trust shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge and any attempt to so subject the same shall be null and void.