Subtrusts. (a) The MART Assets, immediately upon the acquisition thereof by MART, shall be allocated to, and identified only with, a Subtrust under this Agreement (each such subtrust, a "Subtrust", and the assets allocated to each such Subtrust, "Subtrust Assets"). Each Subtrust shall be a separate series of MART pursuant to Section 3806(b)(2) of the Business Trust Statute. The Board of Managers shall cause an Authorized Officer to account for and record separately all Subtrust Assets and the proceeds thereof allocated to any Subtrust from the Subtrust Assets and the proceeds thereof allocated to any other Subtrust. The Board of Managers shall cause an Authorized Officer to maintain separate and distinct records for the Subtrust Assets related to each Subtrust and to hold and account for the Subtrust Assets related to each Subtrust separately from the Subtrust Assets related to any other Subtrust. Except to the extent required by law or specified in this Agreement, the debts, liabilities and expenses incurred, contracted for or otherwise existing with respect to any Subtrust shall be enforceable against the assets of such Subtrust only, and not against the assets of MART generally or of any other Subtrust, and, except to the extent required by law or specified in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to MART generally shall be enforceable against the assets of any Subtrust.
Subtrusts. 2.03-1 The Trustee shall establish a separate subtrust ("Subtrust") for each Plan to which it shall credit contributions it receives which are earmarked for that Plan and Subtrust. The Trustee shall also establish a separate Subtrust to which it shall credit contributions it receives which are earmarked to the special reserve for payment of future fees and expenses of the Trustee and future trust fees and expenses for legal and administrative proceedings. Each Subtrust shall reflect an undivided interest in assets of the trust fund and shall not require any segregation of particular assets, except that an insurance contract covering benefits of a particular Plan shall be held in the Subtrust for the Plan. All contributions shall be designated by the Company for a particular Subtrust. However, any contribution received by the Trustee which is not earmarked for a particular Subtrust shall be allocated among the Subtrusts as the Trustee may determine in its sole discretion. The Committee may direct the Trustee, or the Trustee may determine on its own initiative, to maintain a separate sub-account within each Subtrust for a Plan for each Participant who is covered by the Subtrust. Each sub-account in a Subtrust shall reflect an individual interest in assets of the Subtrust and, as much as possible, shall operate in the same manner as if it were a separate Subtrust.
Subtrusts. (a) If directed by the Committee, the Trustee shall establish a separate Subtrust for that Participant and credit the amount of such contribution to that Participant's Subtrust. Each Subtrust shall reflect an individual interest in the assets of the Trust fund and shall not require any segregation of particular assets.
Subtrusts. 2.4.1 Upon written direction of the Company, the Trustee shall establish a separate subtrust ("Subtrust") for each participant in a Plan. The Subtrust shall reflect an undivided interest in the Participating Trust's assets of the trust fund and shall not require any segregation of particular assets. In the event the Company directs the Trustee to establish separate Subtrusts, the Company shall direct the Trustee with respect to the allocation of assets of the trust fund among each separate Subtrust. After a Change in Control, any such direction by the Company with respect to the allocation of assets of the trust fund among separate Subtrusts may be made only with the Written Consent of Participants affected thereby. If the Trustee does not receive a valid direction with respect to the allocation of assets of the trust fund among separate Subtrusts within 90 days after such Subtrusts are established, the assets of the trust fund or affected portion thereof shall be allocated in accordance with the provisions of the applicable Participating Trust. With respect to any new contributions to the trust by the Company after separate Subtrusts have been established, the Company shall designate each participant for which such contributions are made. The Trustee shall have no duty to inquire whether any of the foregoing allocations of assets of the trust fund or contributions to the trust are made in compliance with the terms of any Plan. After establishment of separate Subtrusts, the interest of each Subtrust in this trust shall be accounted for as a separate fund of the trust and no part of the assets allocable to one participant and his/her Subtrust shall be utilized to provide any benefits under any Plan to any other participant. The Trustee shall allocate investment earnings and losses of the trust fund among the Subtrusts in proportion to their account balances. Payments to general creditors during Insolvency Administration under 5.2 shall be charged against each Subtrust in proportion to its account balance plus payment therefrom to the beneficiary thereof made during the previous duration of said Subtrust, except that payment of benefits to a Plan participant as a general creditor shall be charged against the Subtrust for that participant.
Subtrusts. 14.1 Effective as of the Merger (as defined below), a subaccount (the “Pre-Merger Subtrust”) shall be established under the Trust, and all of the assets held in the Trust as of the effective time of the Merger shall be allocated to the Pre-Merger Subtrust. The Pre-Merger Subtrust shall be maintained as part of the Trust and the assets allocated thereto shall be held by the Trustee in accordance with the terms and conditions of the Trust Agreement.
Subtrusts. 2.03-1 The Company may direct the Trustee, or the Trustee may determine on its own initiative after a Special Circumstance, to establish (i) a separate subtrust (“Subtrust”) for each Plan to which the Trustee shall credit contributions it receives which are earmarked for that Plan and Subtrust and (ii) a separate Subtrust to which the Trustee shall credit contributions it receives which are earmarked to the special reserve for payment of future fees and expenses of the Trustee and future Trust fees and expenses for legal and administrative proceedings. Each Subtrust shall reflect an undivided interest in assets of the trust fund and shall not require any segregation of particular assets. When Subtrusts are established, all contributions shall be designated by the Company for a particular Subtrust. However, any contribution received by the Trustee which is not designated by the Company for a particular Subtrust before a Special Circumstance shall be allocated among the Subtrusts as the Trustee may determine in its sole discretion. When Subtrusts are established at a later date subsequent to adoption of the Trust, the Trustee shall allocate the Trust assets among the separate Subtrusts as directed by the Company prior to a Special Circumstance, but otherwise as the Trustee may determine in its discretion. By way of illustration, but not limitation, the Trustee may allocate the Trust assets among the Subtrusts in proportion to the present value of all accrued benefits (vested and unvested) payable under each Plan on a pretax basis to Participants covered by the Trust, as determined under 2.01-3. The Committee may direct the Trustee, or the Trustee may determine on its own initiative after a Special Circumstance, to maintain a separate subaccount within each Subtrust for a Plan for each Participant who is covered by the Subtrust. Each subaccount in a Subtrust shall reflect an individual interest in assets of the Subtrust and, as much as possible, shall operate in the same manner as if it were a separate Subtrust.
Subtrusts. This Trust may receive contributions for more than one Participant, pursuant to the separate Agreement for each such Participant, provided in the event that more than one Participant is covered by the Trust, a separate subtrust shall be established for each such Participant in a manner that satisfies the provisions of the last sentence of the preceding section (9.2) of this Agreement.
Subtrusts. Upon a Change in Control, or earlier if the Employer deposits amounts into the Trust with respect to the Plans identified on Exhibit A as Group B Plans, the Trustee shall establish 1) one Subtrust for the Group A Plans identified on Exhibit A, and 2) individual Subtrusts for each of the Group B Plans identified on Exhibit A, and shall separately account for the assets in the Trust that are attributable to the Group B Subtrusts.
Subtrusts. 2.03-1 The Company shall direct the Trustee to establish (i) a separate subtrust ("Subtrust") for each Plan to which the Trustee shall credit contributions it receives which are earmarked for that Plan and Subtrust and (ii) a separate Subtrust to which the Trustee shall credit contributions it receives which are earmarked to the special reserve for payment of future fees and expenses of the Trustee and future Trust fees and expenses for legal and administrative proceedings. Each Subtrust shall reflect an undivided interest in assets of the trust fund and shall not require any segregation of particular assets. When Subtrusts are established, all contributions shall be designated by the Company for a particular Subtrust. However, any contribution received by the Trustee which is not designated by the Company for a particular Subtrust before a Special Circumstance shall be allocated among the Subtrusts as the Trustee may determine in its sole discretion. After a Special Circumstance, the Trustee shall maintain a separate sub-account within each Subtrust for a Plan for each Participant who is covered by the Subtrust. Each sub-account in a Subtrust shall reflect an individual interest in assets of the Subtrust and, as much as possible, shall operate in the same manner as if it were a separate Subtrust.
Subtrusts. 2.03-1 The Trustee shall establish a separate subtrust ("Subtrust") for each Plan to which it shall credit contributions it receives which are earmarked for that Plan and Subtrust. The Trustee shall also establish a separate Subtrust to which it shall credit contributions it receives which are earmarked to the special reserve for payment of future fees and expenses of the Trustee and future trust fees and expenses for legal and administrative proceedings. Each Subtrust shall reflect an undivided interest in assets of the
