Common use of Revocation or Termination Clause in Contracts

Revocation or Termination. (a) Except as set forth in paragraph (b) of this Section 13.02, the Trust may not be revoked and this Agreement may not be terminated. (b) On the date when the Berkshire Preferred Stock is redeemed in full and the Company has no further obligations with respect to such stock, the Trust shall automatically be revoked and this Agreement shall terminate. At such time, the Trustee shall forthwith transfer and deliver to such individual or entity as the Company shall designate in writing all cash and assets then constituting the Trust. If by the termination date, the Company has not notified the Trustee in writing as to whom the assets and cash are to be transferred and delivered, the Trustee may bring an appropriate action or proceeding for leave to deposit the assets and cash in a court of competent jurisdiction. The Trustee shall be reimbursed by the Company for all costs and expenses of the action or proceeding including, without limitation, reasonable attorneys’ fees and disbursements.

Revocation or Termination. (a) Except as set forth in paragraph (b) of this Section 13.02, the Trust may not be revoked and this Agreement may not be terminated. (b) On the date when the Berkshire Zenith Preferred Stock is redeemed in full and the Company has no further obligations with respect to such stock, the Trust shall automatically be revoked and this Agreement shall terminate. At such time, the Trustee shall forthwith transfer and deliver to such individual or entity as the Company shall designate in writing all cash and assets then constituting the Trust. If by the termination date, the Company has not notified the Trustee in writing as to whom the assets and cash are to be transferred and delivered, the Trustee may bring an appropriate action or proceeding for leave to deposit the assets and cash in a court of competent jurisdiction. The Trustee shall be reimbursed by the Company for all costs and expenses of the action or proceeding including, without limitation, reasonable attorneys’ fees and disbursements.