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.
Appears in 3 contracts
Samples: Reclamation and Trust Funds Agreement, Reclamation and Trust Funds Agreement, Reclamation and Trust Funds 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.
Appears in 3 contracts
Samples: Decommissioning and Trust Funds Agreement, Decommissioning and Trust Funds Agreement, Decommissioning and Trust Funds 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.
Appears in 2 contracts
Samples: Generating Station Reclamation Trust Agreement, Generating Station Reclamation Trust Agreement
