Common use of Reversion of Excess Assets Clause in Contracts

Reversion of Excess Assets. From time to time after the third anniversary of the first Change of Control occurring after the execution of this Trust Agreement, if and when requested by Key to do so, the Trustee shall engage the services of the Accounting Firm, at the expense of Key, to determine the Aggregate Plan Liability (as defined in Section 15.2). If the Current Trust Asset Value at the time of the calculation exceeds 150% of the dollar amount of the Aggregate Plan Liability and the Trustee is requested to do so by Key, the Trustee shall pay the amount of any such excess over 150% to Key. The Trustee shall determine, in its sole discretion, how the funds necessary to make any such payment are to be raised from Trust assets.

Appears in 4 contracts

Samples: Trust Agreement (Keycorp /New/), Trust Agreement (Keycorp /New/), Trust Agreement (Keycorp /New/)

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