TAXES, EXPENSES AND COMPENSATION. 10.1 The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Trust Fund. The Trustee shall withhold Federal, State and local taxes from any payments made to a participant or beneficiary in accordance with the provisions of applicable law. The Trustee shall contest the validity of taxes in any manner deemed appropriate by the Company or its counsel, but at the Company's expense, and only if it has received an indemnity bond or other security satisfactory to it to pay any such expenses. In the alternative, the Company may itself contest the validity of any such taxes.
TAXES, EXPENSES AND COMPENSATION. 9.1 The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Trust Fund. The Trustee shall if requested by the Company, or may, in his discretion, contest the imposition of taxes in any manner deemed appropriate by the Company or its counsel, but at Company expense, and only if he has received an indemnity bond or other security satisfactory to him to pay any such expenses. Notwithstanding the foregoing, the Trustee shall not be obligated to contest the imposition of tax unless he receives an opinion of counsel, or of a certified public accounting firm of national reputation, satisfactory to him to the effect that there is a reasonable basis in law and fact for such contest. In the alternative, the Company may itself contest the validity of any such taxes.
TAXES, EXPENSES AND COMPENSATION. 11.1. It is intended that the Trust will be a Code Article 115 trust. As such, it is expected that there will be no income taxes owed by the Trust. To the extent that any taxes are imposed on the Trust, the Trustees shall use the assets of the Trust Fund to pay for any taxes owed.
TAXES, EXPENSES AND COMPENSATION. 8.1 The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Trust Fund. The Trustee shall contest the validity of taxes in any manner deemed appropriate by the Company or its counsel, but at Company expense, but only if it has received an indemnity bond or other security satisfactory to it to pay any such expense. In the alternative, the Company may itself contest the validity of any such taxes.
TAXES, EXPENSES AND COMPENSATION. 11.1 The Employer shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes levied or assessed upon the Trust Fund are not paid by the Employer, the Trustee shall pay such taxes out of the Trust Fund. The Trustee shall if requested by the Employer, or may, in its discretion, contest the validity of taxes in any manner deemed appropriate by the Employer or its counsel, but at the Employer's expense, and only if it has received an indemnity bond or other security satisfactory to it to pay any such expenses. In the alternative, the Employer may itself contest the validity of any such taxes. The Trustee will withhold federal and state income taxes from any payments made to a Trust Beneficiary in accordance Section 6.5 of this Agreement.
TAXES, EXPENSES AND COMPENSATION. For its services hereunder, the Company shall pay the Trustee such reasonable compensation as is agreed upon in writing between the Company and the Trustee. The Company shall also pay the reasonable expenses, including, but not limited to, legal fees reasonably incurred by the Trustee in the performance of its duties under this Trust Agreement and other reasonable expenses of the Trust. Any fees or expenses, including, but not limited to, legal fees reasonably ,incurred, not paid by the Company may be paid out of the cash assets, if any, held by the Trustee hereunder.
TAXES, EXPENSES AND COMPENSATION. 8.1 The Company shall from time to time pay taxes of any and all kinds which are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Fee Trust, or, to the extent that the Fee Trust is insufficient, on a pro rata basis from the other Trust Funds. The Trustee shall at the expense and direction of the Company contest the validity of any taxes in any manner deemed appropriate by the Company or its counsel or the Company may itself contest the validity of any such taxes. All reasonable expenses incurred by the Trustee in the performance of its duties under this Trust Agreement, including but not limited to legal fees and brokerage commissions, shall be charged against and paid from the Fee Trust to the extent that the Company does not pay such expenses, or, to the extent that the Fee Trust is insufficient, on a pro rata basis from the other Trust Funds.
TAXES, EXPENSES AND COMPENSATION. 8.1 The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall pay such taxes out of the Trust Fund, provided, however, that in the event of the occurrence of a Change in
TAXES, EXPENSES AND COMPENSATION. 8.1 AMP shall from time to time pay taxes of any and all kinds which are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by AMP, the Trustee shall pay such taxes out of the Fee Trust, or, to the extent that the Fee Trust is insufficient, on a pro rata basis from the Trusts. The Trustee shall at the expense and direction of AMP contest the validity of such taxes in any manner deemed appropriate by AMP or its counsel or AMP may itself contest the validity of any such taxes.
TAXES, EXPENSES AND COMPENSATION. A. Bank shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by the Bank, the Trustee shall pay such taxes out of the Trust Fund. The Trustee shall withhold Federal, state and local taxes from any payments made to a participant or beneficiary in accordance with the provisions of applicable law. The Trustee shall contest the validity of taxes in any manner deemed appropriate by the Bank or its counsel but at the Bank’s expense, and only if it has received an indemnity bond or other security satisfactory to it to pay any such expenses. In the alternative, the Bank may itself contest the validity of any such taxes.
