Separate Trust Funds Sample Clauses

Separate Trust Funds. Trustee agrees to establish at least one separate and distinct Preneed Trust Fund for each Cemetery Authority which has adopted the terms and provisions of the Trust Agreement. Trustee may establish more than one Preneed Trust Fund for a single Cemetery Authority if so specified by that Cemetery Authority in separate corporate resolutions for each such Preneed Trust Fund, provided that the procedures and requirements for establishing a Preneed Trust Fund, under Title 27, Chapter 17A of the Code of Alabama 1975 and under this Trust Agreement, are complied with separately for each separate Preneed Trust Fund. Each separate Preneed Trust Fund shall be handled by Trustee in like manner as if each such Preneed Trust Fund were governed by its own separate and distinct trust agreement with terms identical to those contained in this Trust Agreement.
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Separate Trust Funds. After giving effect to the provisions of Section 6.1 of the Plan, the Assets for each Debtor Estate shall be held by the Liquidating Trustee in separate and segregated Trust Funds for the benefit of the Creditors of such Debtor, all of which in the aggregate constitute the Liquidating Trust.
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Related to Separate Trust Funds

  • Trust Funds The Owner hereby gives power to the Agent to deposit all receipts collected for the Owner, less any sums properly deducted or disbursed, in a financial institution whose deposits are insured by an agency of the United States government. The funds shall be held in a trust account separate from the Agent’s personal accounts. The Agent shall not be liable in the event of a bankruptcy or failure of a financial institution. All funds managed under this section must be done so in accordance with applicable law.

  • Trust Fund The Buyer is a trust fund whose trustee is a bank or trust company and whose participants are exclusively (a) plans established and maintained by a State, its political subdivisions, or any agency or instrumentality of the State or its political subdivisions, for the benefit of its employees, or (b) employee benefit plans within the meaning of Title I of the Employee Retirement Income Security Act of 1974, but is not a trust fund that includes as participants individual retirement accounts or H.R. 10 plans.

  • Administration of the Trust Fund Section 4.01

  • Establishment of Trust Account The Owner Trustee, for the benefit of the Certificateholders, shall establish and maintain in the name of the Trust an Eligible Deposit Account (the "Certificate Distribution Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholders. The Owner Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Certificate Distribution Account and in all proceeds thereof. Except as otherwise expressly provided herein, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Deposit Account, the Owner Trustee (or the Depositor on behalf of the Owner Trustee, if the Certificate Distribution Account is not then held by the Owner Trustee or an affiliate thereof) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new Certificate Distribution Account as an Eligible Deposit Account and shall transfer any cash and/or any investments to such new Certificate Distribution Account.

  • Application of Trust Funds (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date.

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