Common use of Spendthrift Clause Clause in Contracts

Spendthrift Clause. The interest of the Beneficiary is held subject to a spendthrift trust. No interest in the Trust Funds established pursuant to this Agreement will be transferable or assignable, voluntarily or involuntarily, or be subject to the claims of Party A or its creditors, PNM or its creditors or SJCC or its creditors other than as provided in the Mine Reclamation Agreement.

Spendthrift Clause. The interest interests of the Beneficiary is Beneficiaries are held subject to a spendthrift trust. No interest in the Decommissioning Trust Funds established pursuant to this Agreement will be transferable or assignable, voluntarily or involuntarily, or be subject to the claims of Party A or its creditors, PNM or its creditors or SJCC or its creditors other than as provided in the Mine Reclamation Decommissioning Agreement.

Spendthrift Clause. The interest of the Beneficiary is held subject to a spendthrift trust. No interest in the Trust Funds established pursuant to this Agreement will shall be transferable or assignable, voluntarily or involuntarily, or be subject to the claims of Party A Anaheim or its creditors, PNM the Utilities or its their creditors or SJCC or its creditors other than as provided in the Mine Reclamation Funding Agreement.

Spendthrift Clause. The interest of the Beneficiary is held subject to a spendthrift trust. No interest in the Trust Funds established pursuant to this Agreement will shall be transferable or assignable, voluntarily or involuntarily, or be subject to the claims of Party Participant A or its creditors, PNM the Utilities or its their creditors or SJCC or its creditors other than as provided in the Mine Reclamation Funding Agreement.