Common use of Trust Subject to Creditor Claims Clause in Contracts

Trust Subject to Creditor Claims. Notwithstanding any other provision of this Trust Agreement or the Plan, the Trustee shall hold the assets of the Trust for the benefit of Creditors to the extent provided in Sections 12 and 13 hereof. No Participant or Beneficiary shall have any rights greater than the rights of any other unsecured Creditor, and no Participant or Beneficiary shall have any right against or security interest in the Trust. The Chief Executive Officer or Chief Financial Officer of the Company or each Subsidiary shall have the duty to inform the Trustee in writing of the Insolvency of the Company or any such Subsidiary, as the case may be.

Trust Subject to Creditor Claims. Notwithstanding any other provision of this Trust Agreement or the Plan, the Trustee shall hold the assets of the Trust for the benefit of Creditors to the extent provided in Sections 12 and 13 hereof. No Participant or Beneficiary shall have any rights greater than the rights of any other unsecured Creditor, and no Participant or Beneficiary shall have any right against or security interest in the Trust. The Chief Executive Officer or Chief Financial Officer of ASCI, the Company or each Subsidiary shall have the duty to inform the Trustee in writing of the Insolvency of ASCI, the Company or any such Subsidiary, as the case may be.