Reversion of Funds to Company. Subject to Section 10.3, in the event the Company delivers the Required Funding Amount to the Trustee because of a Potential Change in Control, the Trust Corpus shall be returned to the Company six (6) months after delivery of the Required Funding Amount to the Trustee if no Change in Control shall have occurred during such six-month period, and the Board of Directors determines, and so certifies to the Trustee, that a Change in Control is not imminent, pending, or reasonably expected to occur (or upon such earlier certification by the non-employee members of the Board of Directors acting unanimously), or upon the earlier termination of this Trust in a manner consistent with Section 3.2 hereof. Such six-month period shall recommence in the event of and upon the date of any subsequent Potential Change in Control. If another Potential Change in Control should occur after the Trust Corpus has been returned to the Company as provided in this Section 10.1, the Company shall deliver a new Required Funding Amount to the Trustee pursuant to Article V above. The Company shall notify the Trustee of the ocurrence of a Potential Change in Control and Change in Control and the Trustee may rely on such notice.
Appears in 2 contracts
Samples: Deferred Compensation and Benefits Trust Agreement (Sunoco Inc), Deferred Compensation and Benefits Trust Agreement (Sunoco Inc)
Reversion of Funds to Company. Subject to Section 10.3, in the event the Company delivers the Required Funding Amount to the Trustee because of a Potential Change in Control, the Trust Corpus shall be returned to the Company six (6) months after delivery of the Required Funding Amount to the Trustee if no Change in Control shall have occurred during such six-month period, and the Board of Directors determines, and so certifies to the Trustee, that a Change in Control is not imminent, pending, or reasonably expected to occur (or upon such earlier certification by the non-employee members of the Board of Directors acting unanimously), or upon the earlier termination of this Trust in a manner consistent with Section 3.2 hereof. Such six-month period shall recommence in the event of and upon the date of any subsequent Potential Change in Control. If another Potential Change in Control should occur after the Trust Corpus has been returned to the Company as provided in this Section 10.1, the Company shall deliver a new Required Funding Amount to the Trustee pursuant to Article V above. The Company shall notify the Trustee of the ocurrence occurrence of a Potential Change in Control and Change in Control and the Trustee may rely on such notice.
Appears in 2 contracts
Samples: Trust Agreement (Sunoco Inc), Trust Agreement (Sunoco Inc)
Reversion of Funds to Company. Subject to Section 10.39.3, in the event the ----------------------------- Company delivers the Required Funding Amount to the Trustee because of a Potential Change in Control, the Trust Corpus shall be returned to the Company six (6) months after delivery of the Required Funding Amount to the Trustee if no Change in Control shall have occurred during such six-month period, and the Board of Directors determines, and so certifies to the Trustee, that a Change in Control is not imminent, pending, or reasonably expected to occur (or upon such earlier certification by the non-employee members of the Board of Directors acting unanimously), or upon the earlier termination of this Trust in a manner consistent with Section 3.2 hereof. Such six-month period shall recommence in the event of and upon the date of any subsequent Potential Change in Control. If another Potential Change in Control should occur after the Trust Corpus has been returned to the Company as provided in this Section 10.19.1, the Company shall deliver a new Required Funding Amount (and a new Legal Defense Fund Amount, if such amount has previously been returned to the Company) to the Trustee pursuant to Article V above. The Company shall notify the Trustee of the ocurrence occurrence of a Potential Change in Control and Change in Control and the Trustee may rely on such notice.
Appears in 1 contract
Samples: Sunoco Inc
Reversion of Funds to Company. Subject to Section 10.39.3, in the event the ----------------------------- Company delivers the Required Funding Amount to the Trustee because of a Potential Change in Control, the Trust Corpus shall be returned to the Company six (6) months after delivery of the Required Funding Amount to the Trustee if no Change in Control shall have occurred during such six-month period, and the Board of Directors determines, and so certifies to the Trustee, that a Change in Control is not imminent, pending, or reasonably expected to occur (or upon such earlier certification by the non-employee members of the Board of Directors acting unanimously), or upon the earlier termination of this Trust in a manner consistent with Section 3.2 hereof. Such six-month period shall recommence in the event of and upon the date of any subsequent Potential Change in Control. If another Potential Change in Control should occur after the Trust Corpus has been returned to the Company as provided in this Section 10.19.1, the Company shall deliver a new Required Funding Amount (and a new Legal Defense Fund Amount, if such amount has previously been returned to the Company) to the Trustee pursuant to Article V above. The Company shall notify the Trustee of the ocurrence occurrence of a Potential Change in Control and Change in Control and the Trustee may rely on such notice.
Appears in 1 contract
Samples: Sunoco Inc