Common use of RIGHTS OF COMPANY TO TRUST ASSETS Clause in Contracts

RIGHTS OF COMPANY TO TRUST ASSETS. Section 26.1. Prior to a Change in Control, the Company shall have no ------------- right, title or interest in the Trust, nor shall any part of the Trust revert to or be repaid to the Company, until all benefits due under all Participating Plans have been paid pursuant to Section 25 of this Trust Agreement, unless, at any time, there is a determination that the assets of the Trust have a value exceeding one hundred twenty-five percent (125%) of the lump sum actuarial equivalent value of accrued but unpaid benefits under one or more of the Participating Plans pursuant to Section 5 of this Trust Agreement. The amount of such excess in the particular Plan may be repaid to the Company, upon direction of the Company pursuant to the provisions of Section 5.

Appears in 2 contracts

Samples: Trust Agreement (Lyondell Chemical Co), Trust Agreement (Lyondell Petrochemical Co)

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RIGHTS OF COMPANY TO TRUST ASSETS. Section 26.1. Prior to a Change in Control, the Company shall have no ------------- right, title or interest in the Trust, nor shall any part of the Trust revert to or be repaid to the Company, until all benefits due under all Participating Plans have been paid pursuant to Section 25 of this Trust Agreement, unless, at any time, there is a determination that the assets of the Trust have a value exceeding one hundred twenty-five percent (125%) of the lump sum actuarial equivalent value of accrued but unpaid benefits under one or more of the Participating Plans pursuant to Section 5 of this Trust Agreement. The amount of such excess in the particular Plan may be repaid to the Company, upon direction of the Company pursuant to the provisions of Section 5.

Appears in 1 contract

Samples: Benefit Plans Trust Agreement (Lyondell Chemical Co)

RIGHTS OF COMPANY TO TRUST ASSETS. Section 26.1. Prior to a Change in Control, the Company shall have no ------------- right, title or interest in the Trust, nor shall any part of the Trust revert to or be repaid to the Company, until all benefits due under all Participating Plans have been paid pursuant to Section 25 of this Trust Agreement, unless, at any time, there is a determination that the assets of the Trust have a value exceeding one hundred twenty-five percent (125%) of the lump sum actuarial equivalent value of accrued but unpaid benefits under one or more of the Participating Plans pursuant to Section 5 of this Trust Agreement. The amount of such excess in the particular Plan may be repaid to the Company, upon direction of the Company pursuant to the provisions of Section 5.

Appears in 1 contract

Samples: Trust Agreement (Lyondell Chemical Co)

RIGHTS OF COMPANY TO TRUST ASSETS. Section 26.1. Prior to a Change in Control, the Company shall have no ------------- right, title or interest in the Trust, nor shall any part of the Trust revert to or be repaid to the Company, until all benefits due under all Participating Plans have been paid pursuant to Section 25 of this Trust Agreement, unless, at any time, there is a determination that the assets of the Trust have a value exceeding one hundred twenty-five percent (125%) of the lump sum actuarial equivalent value of accrued but unpaid benefits under one or more of the Participating Plans pursuant to Section 5 of this Trust Agreement. The amount of such excess in the particular Plan may be repaid to the Company, upon direction of the Company pursuant to the provisions of Section 5.

Appears in 1 contract

Samples: Trust Agreement (Lyondell Chemical Co)

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RIGHTS OF COMPANY TO TRUST ASSETS. Section 26.1. Prior to a Change in Control, the Company shall have no ------------- ------------ right, title or interest in the Trust, nor shall any part of the Trust revert to or be repaid to the Company, until all benefits due under all Participating Plans have been paid pursuant to Section 25 of this Trust Agreement, unless, at any time, there is a determination that the assets of the Trust have a value exceeding one hundred twenty-five percent (125%) of the lump sum actuarial equivalent value of accrued but unpaid benefits under one or more of the Participating Plans pursuant to Section 5 of this Trust Agreement. The amount of such excess in the particular Plan may be repaid to the Company, upon direction of the Company pursuant to the provisions of Section 5.

Appears in 1 contract

Samples: Lyondell Petrochemical Co

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