TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARIES WHEN COMPANY INSOLVENT. (a) The Company shall be considered “Insolvent” for purposes of this Trust Agreement if (i) the Company is unable to pay its debts as they mature, or (ii) the Company is subject to a pending proceeding as a debtor under the Bankruptcy Code.
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Samples: Trust Agreement (Bank of America Corp /De/), Trust Agreement (Bank of America Corp /De/), Trust Agreement (Bank of America Corp /De/)
TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARIES WHEN COMPANY INSOLVENT. (a) The Company shall be considered “Insolvent” and an “Insolvency” shall be deemed to exist for purposes of this Trust Agreement if (i) under any of the Company is unable to pay its debts as they mature, or (ii) the Company is subject to a pending proceeding as a debtor under the Bankruptcy Code.following circumstances:
Appears in 1 contract
TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARIES WHEN COMPANY INSOLVENT. (a) The Company shall be considered “"Insolvent” " for purposes of this Trust Agreement if (i) the Company is unable to pay its debts as they mature, or (ii) the Company is subject to a pending proceeding as a debtor under the Bankruptcy Code.
Appears in 1 contract
Samples: Fleet Boston Corp
TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARIES WHEN COMPANY INSOLVENT. (a) The Company shall be considered “"Insolvent” " for purposes of this Trust Agreement if (i) the Company is unable to pay its debts as they mature, or (ii) the Company is subject to a pending proceeding as a debtor under the U.S. Bankruptcy Code.
Appears in 1 contract
Samples: TJX Companies Inc /De/
