Common use of Transfers to Another Trust Clause in Contracts

Transfers to Another Trust. Prior to an Irrevocable Election or Change in Control, upon the direction of the Company and the Bank concurred in by the Committee, the Trustee shall deliver such assets of the Trust Fund as the Company, the Bank and the Committee may direct to another irrevocable trust established by the Company or the Bank, respectively, for the purpose of paying Benefits to Participants and Beneficiaries under the Covered Arrangements. The Trustee shall deliver a copy of the Committee's certification to the trustee of the transferee trust at the time of delivery of the Trust assets.

Transfers to Another Trust. Prior to an Irrevocable Election or Change in Control, upon the direction of the Company and the Bank concurred in by the Committee, the Trustee shall deliver such assets of the Trust Fund as the Company, the Bank and the Committee may direct to another irrevocable trust established by the Company or the Bank, respectively, for the purpose of paying Benefits to Participants and Beneficiaries under the Covered Designated Arrangements. The Trustee shall deliver a copy of the Committee's certification to the trustee of the transferee trust at the time of delivery of the Trust assets.

Transfers to Another Trust. Prior to an Irrevocable Election or Change in Control, upon the direction of the Company and the Bank concurred in by the Committee, the Trustee shall deliver such assets of the Trust Fund as the Company, the Bank and the Committee may direct to another irrevocable trust established by the Company Bank (alone or the Bank, respectively, with one or more of its subsidiaries) for the purpose of paying Benefits to Participants and Beneficiaries under providing the Covered Arrangements. The Trustee shall deliver a copy of the Committee's certification to the trustee of the transferee trust at the time of delivery of the Trust assetsbenefits contemplated hereunder.