Common use of Purpose of Association Trust Clause in Contracts

Purpose of Association Trust. It is the further purpose of this Trust Agreement to establish an economical method by which each Funeral Establishment may comply with the requirements of Title 27, Chapter 17A of the Code of Alabama 1975, to provide a means whereby each Funeral Establishment may establish one or more of its own separate and Distinct Preneed Trust Funds, each governed by terms and provisions similar to those which govern similar Preneed Trust Funds of other Funeral Establishments and to provide a means whereby the administration and investment of the Preneed Trust Funds of all Funeral Establishments may be handled by a single trustee. It is the intention of the parties hereto that one or more Preneed Trust Funds be established for each Funeral Establishment, each of which Preneed Trust Funds is to be held separately by the Trustee from similar Preneed Trust Funds established pursuant to the Trust Agreement and shall be handled by the Trustee as a separate and distinct trust in like manner as if each such Preneed Trust Fund were governed by its own separate and distinct trust agreement with terms identical to those contained in this Trust Agreement. It is the intent of the parties hereto that additional parties shall be able to join into this Trust Agreement as additional Funeral Establishments subsequent to the original effective date of this Trust Agreement by comply with the terms and conditions of Article I, 1.4 below.

Purpose of Association Trust. It is the further purpose of this Trust Agreement to establish an economical method by which each Funeral Establishment may comply with the requirements of Title 2734, Chapter 17A 13 of the Code of Alabama 1975, to provide a means whereby each Funeral Establishment may establish one or more of its own separate and Distinct Preneed Trust Funds, each governed by terms and provisions similar to those which govern similar Preneed Trust Funds of other Funeral Establishments and to provide a means whereby the administration and investment of the Preneed Trust Funds of all Funeral Establishments may be handled by a single trustee. It is the intention of the parties hereto that one or more Preneed Trust Funds be established for each Funeral Establishment, each of which Preneed Trust Funds is to be held separately by the Trustee from similar Preneed Trust Funds established pursuant to the Trust Agreement and shall be handled by the Trustee as a separate and distinct trust in like manner as if each such Preneed Trust Fund were governed by its own separate and distinct trust agreement with terms identical to those contained in this Trust Agreement. It is the intent of the parties hereto that additional parties shall be able to join into this Trust Agreement as additional Funeral Establishments subsequent to the original effective date of this Trust Agreement by comply with the terms and conditions of Article I, 1.4 below.

Purpose of Association Trust. It is the further purpose of this Trust Agreement to establish an economical method by which each Funeral Establishment may comply with the requirements of Title 2734, Chapter 17A 13 of the Code of Alabama 1975, to provide a means whereby each Funeral Establishment may establish one or more of its own separate and Distinct Preneed Trust Funds, each governed by terms and provisions similar to those which govern similar Preneed Trust Funds of other Funeral Establishments and to provide a means whereby the administration and investment of the Preneed Trust Funds of all Funeral Establishments may be handled by a single trustee. It is the intention of the parties hereto that one or more Preneed Trust Funds be established for each Funeral Establishment, each of which Preneed Trust Funds is to be held separately by the Trustee from similar Preneed Trust Funds established pursuant to the Trust Agreement and shall be handled by the Trustee as a separate and distinct trust in like manner as if each such Preneed Trust Fund were governed by its own separate and distinct trust agreement with terms identical to those contained in this Trust Agreement. It is the intent of the parties hereto that additional parties shall be able to join into this Trust Agreement as additional Funeral Establishments subsequent to the original effective date of this Trust Agreement by comply with the terms and conditions of Article I, 1.4 below.. 1.3