Common use of TAXES, EXPENSES AND COMPENSATION OF TRUSTEE Clause in Contracts

TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. 5.1 The Trustee shall notify the Plan Administrator of any tax levied upon or assessed against the Trust Fund of which the Trustee has knowledge. If the Trustee receives no instructions from the Administrator, the Trustee may pay the tax from the Trust Fund. If the Plan Administrator wishes to contest the tax assessment, it shall give appropriate written instructions to the Trustee. The Trustee shall not be required to bring any legal actions or proceedings to contest the validity of any tax assessments unless the Trustee has been indemnified to its satisfaction against loss or expense related to such actions or proceedings, including reasonable attorney's fees.

Appears in 2 contracts

Samples: Trust Agreement (Clear Channel Communications Inc), Trust Agreement (Forest Oil Corp)

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TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. 5.1 The Trustee shall notify the Plan Administrator of any tax levied upon or assessed against the Trust Fund of which the Trustee has knowledge. If the Trustee receives no instructions from the Administrator, the Trustee may pay the tax from the Trust Fund. If the Plan Administrator wishes to contest the tax assessment, it shall give appropriate written instructions to the Trustee. The Trustee shall not be required to bring any legal actions or proceedings to contest the validity of any tax assessments unless the Trustee has been indemnified to its satisfaction against loss or expense related to such actions or proceedings, including reasonable attorney's ’s fees.

Appears in 2 contracts

Samples: Trust Agreement (Universal City Travel Partners), Trust Agreement (Universal City Florida Holding Co. I)

TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. 5.1 The Trustee shall notify the Plan Administrator of any tax levied upon or assessed against the Trust Fund of which the Trustee has knowledge. If the Trustee receives no instructions from the Administrator, the Trustee may pay the tax from the Trust Fund. If the Plan Administrator wishes to contest the tax assessment, it shall give appropriate written instructions to the Trustee. The Trustee shall not be required to bring any legal actions or proceedings to contest the validity of any tax assessments unless the Trustee has been indemnified to its satisfaction against loss or expense related to such actions or proceedings, including reasonable attorney's attorneys' fees.

Appears in 1 contract

Samples: Trust Agreement (Downey Financial Corp)

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TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. 5.1 The Trustee shall notify the Plan Administrator of any tax levied upon or assessed against the Trust Fund of which the Trustee has knowledge. If the Trustee receives no instructions from the Administrator, the Trustee may pay the tax from the Trust Fund. If the Plan Administrator wishes to contest the tax assessment, it shall give appropriate written instructions to the Trustee. The Trustee shall not be required to bring any legal actions or proceedings to contest the validity of any tax assessments unless the Trustee has been indemnified to its satisfaction against loss or expense related to such actions or proceedings, including reasonable attorney's fees.

Appears in 1 contract

Samples: Directed Employee Benefit Trust Agreement (United Fire & Casualty Co)

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