Transfer of Trust Fund to Successor. Upon the resignation or removal of the Trustee and appointment of a successor, the Trustee shall transfer and deliver the Trust Fund to such successor. Following the effective date of the appointment of the successor, the Trustee's responsibility hereunder shall be limited to managing the assets in its possession and transferring such assets to the successor, and settling its final account. Neither the Trustee nor the successor shall be liable for the acts of the other.
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Samples: Trust Agreement (Phillips Petroleum Co), Plan Trust Agreement (Dynegy Inc /Il/), Compensation Trust Agreement (Cooper Cameron Corp)
Transfer of Trust Fund to Successor. Upon the resignation or removal of the Trustee and appointment of a successor, the Trustee shall transfer and deliver the Trust Fund and such records or copies of such records as are reasonably requested to such successor. Following the effective date of the appointment of the successor, the Trustee's responsibility hereunder shall be limited to managing the assets in its possession and transferring such assets to the successor, and settling its final account. Neither the Trustee nor the successor shall be liable for the acts of the other.
Appears in 4 contracts
Samples: Umbrella Trust Agreement (Dime Bancorp Inc), Benefit Protection Trust Agreement (Dime Bancorp Inc), Umbrella Trust Agreement (Dime Bancorp Inc)
Transfer of Trust Fund to Successor. Upon the resignation or removal of the Trustee and appointment of a successor, the Trustee shall transfer and deliver the Trust Fund to such successor. Following the effective date of the appointment of the successor, the Trustee's responsibility hereunder shall be limited to managing the assets in its possession and transferring such assets to the successor, and settling its final account. Neither the Trustee nor the successor shall be liable for the acts of the other.. ARTICLE IX
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Samples: Plan Trust Agreement (Continental Airlines Inc /De/)
Transfer of Trust Fund to Successor. Upon the resignation or ----------------------------------- removal of the Trustee and appointment of a successor, the Trustee shall promptly transfer and deliver the Trust Fund to such successor. Following the effective date of the appointment of the successor, the Trustee's responsibility hereunder shall be limited to managing the assets in its possession and transferring such assets to the successor, and settling its final account. Neither the Trustee nor the successor shall be liable for the acts of the other.
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