Trust Recovery of Payments to Creditors. In the event that an amount is paid from the Trust Fund to creditors of the Company (other than as provided in Article V and Section 7.3), then as soon as practicable (or if the Company is then Insolvent, as soon as the Company is no longer Insolvent) but subject to the sole discretion of the Company or, following an Irrevocable Election or Change in Control, subject to the sole discretion of the Committee, and upon the Trustee's demand, the Company shall deposit into the Trust Fund a sum equal to the amount paid by the Trust Fund to such creditors.
Appears in 3 contracts
Samples: Umbrella Trust Agreement (Dime Bancorp Inc), Umbrella Trust Agreement (Dime Bancorp Inc), Umbrella Trust Agreement (Dime Bancorp Inc)
Trust Recovery of Payments to Creditors. In the event that an amount is paid from the Trust Fund to creditors of the Company Bank (other than as provided in Article V and Section 7.3), then as soon as practicable (or if the Company Bank is then Insolvent, as soon as the Company Bank is no longer Insolvent) but subject to the sole discretion of the Company Bank or, following an Irrevocable Election or Change in Control, subject to the sole discretion of the Committee, and upon the Trustee's demand, the Company Bank shall deposit into the Trust Fund a sum equal to the amount paid by the Trust Fund to such creditors.
Appears in 3 contracts
Samples: Umbrella Trust Agreement (Dime Bancorp Inc), Umbrella Trust Agreement (Dime Bancorp Inc), Umbrella Trust Agreement (Dime Bancorp Inc)
Trust Recovery of Payments to Creditors. In the event that an amount is paid from the Trust Fund to creditors of the Company Bank (other than as provided in Article V and Section 7.3), then as soon as practicable (or if the Company Bank is then Insolvent, as soon as the Company Bank is no longer Insolvent) but subject to the sole discretion of the Company or, following an Irrevocable Election or Change in Control, subject to the sole discretion of the Committee, and upon the Trustee's demand, the Company shall deposit into the Trust Fund a sum equal to the amount paid by the Trust Fund to such creditors.the
Appears in 1 contract
Samples: Benefit Protection Trust Agreement (Dime Bancorp Inc)