RIGHTS TO TRUST ASSETS Sample Clauses

RIGHTS TO TRUST ASSETS. Except as specifically provided herein, the Beneficiaries of this trust shall have no rights to any assets of the trust.
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RIGHTS TO TRUST ASSETS. No Employee or Beneficiary shall have any right to, or interest in, any assets of the Trust Fund except as provided under this Plan, and then only to the extent of the benefits payable to such Employee or Beneficiary out of the Trust Fund.
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RIGHTS TO TRUST ASSETS. No Employee or Beneficiary shall have any right to, or interest in, any assets of the Trust upon termination of his employment or otherwise, except as provided from time to time under the Plan, and then only to the extent of the benefits payable under the Plan to such Employee out of the assets of the Trust. All payments of benefits as provided for in the Plan shall be made solely out of the assets of the Trust and none of the Fiduciaries shall be liable therefor in any manner.
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RIGHTS TO TRUST ASSETS. 15.04. No Diversion of Trust Fund
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RIGHTS TO TRUST ASSETS. No Participant shall have any right to, ---------------------- or interest in, any assets of the Trust Fund upon termination of employment or otherwise, except as provided for under the terms of this Plan, and then only to the extent of the benefits payable under the Plan to such Participant out of the assets of the Trust Fund. Except as otherwise may be provided under Title IV of ERISA, all payments of benefits as provided for in this Plan shall be made solely out of the assets of the Trust Fund and none of the fiduciaries shall be liable therefor in any manner.
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RIGHTS TO TRUST ASSETS. The trust estate of the trust shall be held separate and apart from other funds of the Grantor and shall be used exclusively for the uses and purposes of the Employee and general creditors of the Grantor as herein set forth. The Employee and the Employee’s beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the trust. Any rights created under this Agreement shall be mere unsecured contractual rights of the Employee and the Employee’s beneficiaries against the Grantor. Any assets held by the trust will be subject to the claims of the Grantor’s general creditors under federal and state law in the event of the Grantor’s Insolvency, as defined in Section 3.1 herein.
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Related to RIGHTS TO TRUST ASSETS

  • Title to Trust Property Legal title to all the Owner Trust Estate shall be vested at all times in the Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be.

  • No Legal Title to Trust Estate in Certificateholders The Certificateholders shall not have legal title to any part of the Trust Estate. A Certificateholder shall be entitled to receive distributions with respect to its undivided Percentage Interest therein only in accordance with Articles V and IX. No transfer, by operation of law or otherwise, of any right, title or interest of a Certificateholder to and in its ownership interest in the Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Trust Estate.

  • Amendments to Trust Agreement Subject to Section 11.1 of the Trust Agreement, the Indenture Trustee shall, upon Issuer Order, consent to any proposed amendment to the Trust Agreement or an amendment to or waiver of any provision of any other document relating to the Trust Agreement, such consent to be given without the necessity of obtaining the consent of the Owners of any Notes upon satisfaction of the requirements under Section 11.1 of the Trust Agreement. Nothing in this Section shall be construed to require that any Person obtain the consent of the Indenture Trustee to any amendment or waiver or any provision of any document where the making of such amendment or the giving of such waiver without obtaining the consent of the Indenture Trustee is not prohibited by this Indenture or by the terms of the document that is the subject of the proposed amendment or waiver.

  • Opinions as to Trust Estate (a) On the Closing Date, the Issuing Entity shall furnish to the Indenture Trustee an Opinion of Counsel either stating that, in the opinion of such counsel, such action has been taken with respect to the recording and filing of this Indenture, any indentures supplemental hereto, and any other requisite documents, and with respect to the execution and filing of any financing statements and continuation statements, as are necessary to perfect and make effective the lien and security interest of this Indenture and reciting the details of such action, or stating that, in the opinion of such counsel, no such action is necessary to make such lien and security interest effective.

  • WAIVER OF CLAIMS TO TRUST ACCOUNT Indemnitee hereby agrees that it does not have any right, title, interest or claim of any kind (each, a “Claim”) in or to any monies in the trust account established in connection with the Company’s initial public offering for the benefit of the Company and holders of shares issued in such offering, and hereby waives any Claim it may have in the future as a result of, or arising out of, any services provided to the Company and will not seek recourse against such trust account for any reason whatsoever.

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