Transfer to Successor Trust Sample Clauses

Transfer to Successor Trust. In the event that one or more of decommissioning trusts established pursuant to this Master Trust Agreement is required or permitted by an action of any governmental authority having jurisdiction to be transferred to another trust or trusts in order to satisfy the purposes specified in Section 2.02, the Millstone 3 Lead Participants shall have the right, by written notice to the Trustee, to elect to have such trust or trusts subsumed into such other trust or trusts. Such written notice of such election shall be signed by the Presidents or Treasurers of the Millstone 3 Lead Participants and shall direct the Trustee to transfer the trust moneys to the specified successor trust or trusts. Upon the completion of such transfer, the specified trust shall terminate.
Sample 1
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Transfer to Successor Trust. The LP represents that it is a pension fund trust. Based solely on such representation, the General Partner xxxxxx agrees that in the case of any transfer or assignment by an LP of all of its Interest in the Partnership to a single successor trust or successor trustee without change in the underlying beneficial ownership of the LP or, to the extent compliant with applicable law, to any qualified employee benefit plan trust which holds assets for the benefit of the employees of United Parcel Service, Inc. or its Affiliates (a “Permitted Assignee”), subject to satisfaction of the other conditions and provisions of Sections 9.2, 9.3 and 9.4 of the Partnership Agreement and; provided, that (a) no such transfer (or any subsequent transfer by such Permitted Assignee), individually or when taken together with any other transfers to which the General Partner grants its consent under this letter agreement, shall result in an increase in the number of holders of record of the Partnership for purposes of the Exchange Act, (b) the requirements of Sections 9.2 (including the General Partner being satisfied as to the matters set forth in subsection (a) of the proviso to Section 9.2), 9.3 and 9.4 of the Partnership Agreement are met, (C) such Permitted Assignee will not subject the Partnership, the General Partner, the Management Company, any Alternative Investment Vehicle, any other Fund IX Entity or any of its alternative investment vehicles, conduit vehicles and related entities or any Portfolio Company, or any Affiliate of any of the foregoing to any additional tax, regulatory, legal, anti-money laundering or other burden or requirements or otherwise cause any legal, tax, regulatory, anti-money laundering or other risk to the investment structure of a Portfolio Investment, and (D) such Permitted Assignee has agreed in terms acceptable to the General Partner in its sole and absolute discretion that it shall participate in existing and future Portfolio Investments on the same terms and through the same structure as the LP has or would have had it remained a Limited Partner, including with respect to the use of any Alternative Investment Vehicles in which the LP participates or would have participated had it remained a Limited Partner, unless the General Partner, in its sole and absolute discretion, determines otherwise for legal, tax, regulatory or similar technical reasons, the General Partner shall not unreasonably withhold its consent to: (i) any such transfer; and ...
Sample 1
Transfer to Successor Trust. The Company, by written direction delivered to the Trustee, may direct the withdrawal and transfer of assets constituting all or a part of the interest of a Plan in the Trust Fund to a successor trust, which may be the Trustee acting under a separate trust agreement. The Trustee will be required to effect the direction only if it determines that (a) the trustee of the successor trust would qualify to act as a successor trustee of the Trust pursuant to Section 6.2 and (b) the transfer could not reasonably be expected to result in (1) any material decrease in the rights of Participants and Beneficiaries or (2) Participants and/or Beneficiaries being taxed on benefits under a Plan or successor plan in a year other than the year of actual receipt of benefits. The Trustee will make the transfer as soon as practicable after making such determination, either in cash, or at the direction of the Committee, in other property or partly in cash and partly in other property.
Sample 1

Related to Transfer to Successor Trust

  • Acceptance by Successor Trustee Any successor trustee appointed as provided in Section 7.09 shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as Trustee herein; but, nevertheless, on the written request of the Company or of the successor trustee, the trustee ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of Section 7.06, execute and deliver an instrument transferring to such successor trustee all the rights and powers of the trustee so ceasing to act. Upon request of any such successor trustee, the Company shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a senior claim to which the Notes are hereby made subordinate on all money or property held or collected by such trustee as such, except for funds held in trust for the benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the provisions of Section 7.06. No successor trustee shall accept appointment as provided in this Section 7.10 unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 7.08. Upon acceptance of appointment by a successor trustee as provided in this Section 7.10, each of the Company and the successor trustee, at the written direction and at the expense of the Company shall deliver or cause to be delivered notice of the succession of such trustee hereunder to the Holders. If the Company fails to deliver such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be delivered at the expense of the Company.

  • Appointment of Successor Trustee In the event of the death (in the case of a Trustee that is a natural person), dissolution (in the case of a Trustee that is not a natural person), resignation pursuant to Section 7(b) hereof, incompetency, or removal pursuant to Section 7(a) hereof, a successor Trustee may be appointed either by (a) unanimous vote of the Trust Advisory Board, subject to the approval of the United States in consultation with the Beneficiaries, or (b) order of the Bankruptcy Court. Such vote or order shall specify the date on which such appointment shall be effective. Every successor Trustee appointed hereunder shall execute, acknowledge, and deliver to the Bankruptcy Court and to a removed or resigning Trustee (or the representative of a deceased or dissolved Trustee) an instrument accepting the appointment under this Litigation Trust Agreement and agreeing to be bound hereto, and thereupon the successor Trustee, without any further act, deed, or conveyance, shall become vested with all rights, powers, trusts, and duties of such removed, resigning, deceased, or dissolved Trustee pursuant to this Litigation Trust Agreement and the Plan; provided, however, that a removed or resigning Trustee (or the representative of a deceased or dissolved Trustee) shall, nevertheless, when requested in writing by the successor Trustee, execute and deliver an instrument or instruments conveying and transferring to such successor Trustee under the Litigation Trust, or confirming the conveyance and transfer thereto of, all the estates, properties, rights, powers, and privileges of such predecessor Trustee.

  • Assumption by Successor The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, by operation of law or by agreement in form and substance reasonably satisfactory to Executive, to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.

  • Actions by Successor Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company.

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