Common use of Trust Responsibilities Clause in Contracts

Trust Responsibilities. In connection with their management and control of the Trust unless the following responsibilities are allocated or delegated in accordance with the procedures set forth in section 7.3(c) or (d) or elsewhere herein, the Trustees shall: (a) cause the assets of the ProComp System to be held and administered in trust; (b) cause accounts of all investment, receipts, disbursements and all other transactions affecting all or any portion of the Trust to be maintained; and (c) pay from the Trust all taxes of any and all kinds whatsoever that may be levied or assessed under existing or future laws upon, or in respect of, the Trust or its income.

Trust Responsibilities. In connection with their management and control of the Trust unless the following responsibilities are allocated or delegated in accordance with the procedures set forth in section 7.3(c7.2(c) or (d) or elsewhere herein, the Trustees shall: (a) cause the assets of the ProComp System to be held and administered in trust; (b) cause accounts of all investment, receipts, disbursements and all other transactions affecting all or any portion of the Trust to be maintained; and (c) pay from the Trust all taxes of any and all kinds whatsoever that may be levied or assessed under existing or future laws upon, or in respect of, the Trust or its income.