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.
9.2 The Company shall pay the Trustee such compensation for his services as may be agreed upon in writing from time to time by the Company and the Trustee. The Company shall also pay the reasonable expenses incurred by the Trustee in the performance of his duties under this Trust Agreement, including but not limited to brokerage commissions and fees of counsel engaged by the Trustee pursuant to Section 9.1. Such compensation and expenses shall be charged against and paid from the Trust Fund to the extent the Company does not pay such compensation.
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.
10.2 The Company shall pay the Trustee such reasonable compensation for its services as may be agreed upon in writing from time to time by the Company and the Trustee. The Company shall also pay the reasonable expenses incurred by the Trustee in the performance of its duties under this Trust Agreement, including brokerage commissions and fees of counsel engaged by the Trustee. Such compensation and expenses shall be charged against and paid from the Trust Fund to the extent that the Company does not pay such compensation.
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.
8.2 The Company will pay the Trustee such reasonable compensation for its services indicated in Fee Schedule attached hereto as Exhibit E and as may thereafter be agreed upon in writing from time to time by the Company and the Trustee. Such compensation shall be paid directly by the Company. In the event such compensation is not paid by the Company, it shall be charged against the Fee Trust.
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.
8.2 Any reasonable expenses incurred by the Trustee on its own behalf or upon the request of the Member pursuant to Section 6.4(b)(ii) of this Trust Agreement or of a beneficiary or other person or entity pursuant to Section 6.4(b)(iv) of this Trust Agreement for actuarial services including those rendered by the Actuary pursuant to the Trust shall be paid by the Company. To the extent that such services are not paid by the Company, the Trust may pay for such services out of the Trust Fund.
8.3 Any other reasonable expenses incurred by the Trustee in the performance of its duties under this Trust Agreement, including legal fees, shall be paid by the Company. If the Company does not pay such expenses, the Trust may pay for such expenses out of the Trust Fund. The Trustee's entitlement to reimbursement hereunder shall not be affected by the resignation or removal of the Trustee or by the termination of the Trust. Upon the direction of the Company, the Trustee shall pay investment management fees from the Trust Fund.
8.4 The Company will pay the Trustee such reasonable compensation for its services as may be agreed upon in writing from time to time by the Company and the Trustee, or, absent such agreement, such reasonable compensation as may be determined from the Trustee's published fee schedules for similar trusts or services. Such compensation shall be charged against and paid from the Trust Fund to the extent the Company does not pay such compensation.
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
8.2 Any other reasonable expenses incurred by the Trustee in the performance of its duties under this Trust Agreement, including brokerage commissions, shall be charged against and paid from the Trust Fund to the extent that the Company does not elect to pay such expenses.
8.3 The Company will pay the Trustee such reasonable compensation for its services-as may be agreed upon in writing from time to time by the Company and the Trustee. Such compensation shall be charged against and paid from the Trust Fund to the extent the Company does not pay such compensation.
TAXES, EXPENSES AND COMPENSATION. 8.1. The Company from time to time will pay taxes of any kind lawfully levied or assessed on or payable in respect of the Trust Fund, the income or any property forming a part of it, or any security transaction pertaining to it. To the extent that any taxes lawfully levied or assessed on the Trust Fund are not paid by the Company, the Trustee will pay those taxes out of the Trust Fund. On and after a Change in Control, no taxes (other than applicable withholding taxes and charges pursuant to Section 6.1 and other taxes relating to the Trust Fund for which the Trustee has been assessed by the appropriate federal, state or local taxing authority) may be paid from the Trust Fund. The Trustee will contest the validity of those taxes in any manner deemed appropriate by the Company or its counsel, but at Company expense, or the Company itself may contest the validity of any of those taxes.
8.2. Any other reasonable expenses incurred by the Trustee in the performance of its duties under this Trust Agreement, including brokerage commissions, will be charged against and paid from the Trust Fund to the extent the Company does not pay those expenses.
8.3. The Company will pay the Trustee reasonable compensation for its services as may be agreed on in writing from time to time by the Company and the Trustee. That compensation will be charged against and paid from the Trust Fund to the extent the Company does not pay that compensation.
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.
11.2. All reasonable costs and expenses of managing and administering the Trust and the Trust Fund, and reimbursement for reasonable fees incurred through the use of third party vendors or agents, shall be paid from the Trust Fund unless the CRA chooses to pay the expenses directly.
TAXES, EXPENSES AND COMPENSATION. 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.
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.
11.2. All reasonable costs and expenses of managing and administering the Trust and the Trust Fund, including such compensation for the Trustees as may be approved by Town Meeting from time to time, and reimbursement for reasonable fees incurred through the use of third party vendors or agents, shall be paid from the Trust Fund unless the Town chooses to pay the expenses directly.
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.
