Common use of Separate Trust Funds Clause in Contracts

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.

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 2734, Chapter 17A 13 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.

Separate Trust Funds. Trustee Xxxxxxx 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.