SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trustee, the Trustee shall have the right to a settlement of its account, which settlement shall be made, at the Trustee's option, either by an agreement of settlement between the Trustee and the Employer or by a judicial settlement in an action instituted by the Trustee.
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Samples: Trust Agreement (Pennzoil Quaker State Co), Trust Agreement (Skytel Communications Inc), Trust Agreement (Ethyl Corp)
SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trustee, the Trustee shall have the right to a settlement of its account, which settlement shall be made, at the Trustee's option, either made by an a settlement agreement of settlement between the Trustee and the Employer or Sponsor or, if no settlement is reached within 60 days, by a judicial settlement in an action instituted by the Trustee. The Sponsor shall bear their costs of any such judicial settlement. The parties shall bear the fees of their own attorneys.
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Samples: Trust Agreement (Unitil Corp), Trust Agreement (Unitil Corp)
SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trustee, the Trustee shall have the right to a settlement of its account, which settlement shall be made, at the Trustee's option, either by an agreement of settlement between the Trustee and the Employer or by a judicial settlement in an action instituted by the Trustee. The Employer shall bear the cost of any such judicial settlement, including reasonable attorneys fees.
Appears in 2 contracts
Samples: Trust Agreement (Omnicom Group Inc), Trust Agreement (Wendt Bristol Health Services Corp)
SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trustee, the Trustee shall have the right to a settlement of its account, which settlement shall be made, at the Trustee's option, either by an agreement of settlement between the Trustee and the Employer or by a judicial settlement in an action instituted by the Trustee. The Employer shall bear the costs of any such judicial settlement, including reasonable attorneys' fees.
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Samples: Trust Agreement (Southern Co)
SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trusteeremoval, the _____________________ Trustee shall have the right to a settlement of its account, account which settlement shall be made, at the Trustee's optionoptions, either by an agreement of settlement between the Trustee and the Employer or by a judicial settlement in an action instituted by the Trustee, or by an agreement of settlement between the Trustee and the Employer.
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Samples: Security Pacific National Bank Trust Agreement (Schwab Charles Corp)
SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trustee, the Trustee shall have the right to a settlement of its account, which settlement shall be made, at the Trustee's option, either by an agreement of settlement between the Trustee and the Employer Company or by a judicial settlement in an action instituted by the Trustee. The Trustee shall not be obligated to transfer Trust assets until the Trustee is provided written assurance by the Company that all fees and expenses reasonably anticipated will be paid.
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SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trusteeremoval, the --------------------- Trustee shall have the right to a settlement of its account, account which settlement shall be made, at the Trustee's optionoptions, either by an agreement of settlement between the Trustee and the Employer or by a judicial settlement in an action instituted by the Trustee, or by an agreement of settlement between the Trustee and the Employer.
Appears in 1 contract
Samples: Security Pacific National Bank Trust Agreement (Schwab Charles Corp)
SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trustee, the Trustee shall have the right to a settlement of its account, which settlement shall be made, at the Trustee's ’s option, either by an agreement of settlement between the Trustee and the Employer or or, if no such agreement is reached, by a judicial settlement in an action instituted by the Trustee.
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SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trusteeremoval, the Trustee shall have the right to a settlement of its account, account which settlement shall be made, at the Trustee's ’s option, either by an agreement of settlement between the Trustee and the Employer or by a judicial settlement in an action instituted by the Trustee, or by an agreement of settlement between the Trustee and the Employer.
Appears in 1 contract
Samples: Security Pacific National Bank (Schwab Charles Corp)
SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trustee, the Trustee shall have the right to a settlement of its account, which settlement shall be made, at the Trustee's option, made either by an agreement of settlement between the Trustee and the Employer or by a judicial settlement in an action instituted by the Trusteesettlement.
Appears in 1 contract
Samples: Trust Agreement (Alltel Corp)
SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trustee, the Trustee shall have the right , to a settlement of its account, which settlement shall be made, at the Trustee's option, either made by an a settlement agreement of settlement between the Trustee and the Employer or Company or, if no settlement is reached within sixty (60) days, by a judicial settlement in an action instituted by the Trustee. The Company shall bear their costs of any such judicial settlement. The parties shall bear the fees of their own attorneys.
Appears in 1 contract
Samples: Trust Agreement (Logan's Roadhouse of Kansas, Inc.)
SETTLEMENT OF ACCOUNT. Upon resignation or removal of the Trustee, the Trustee shall have the right to a settlement of its account, which settlement shall be made, at the Trustee's option, either by an agreement of settlement between the Trustee and the Employer or by a judicial settlement in an action instituted by the Trustee. The Employer shall bear the cost of any such judicial settlement, including reasonable attorneys' fees.
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