TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARY WHEN THE COMPANY IS INSOLVENT. (a) The Trustee shall cease payment of benefits to Plan participants and their beneficiaries if the Company is Insolvent. The Company shall be considered "Insolvent" for purposes of this Trust Agreement if (i) the Company is unable to pay its debts as they become due, or (ii) the Company is subject to a pending proceeding as a debtor under the United States Bankruptcy Code.
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Samples: Tenneco Packaging Inc, Tenneco Packaging Inc, Pactiv Corp
TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARY WHEN THE COMPANY IS INSOLVENT. (a) The Trustee shall cease payment of benefits to Plan participants the Executives and their beneficiaries if the Company is Insolvent. The Company shall be considered "Insolvent" for purposes purpose of this Trust Agreement if (i) the Company is unable to pay its debts as they become due, or (ii) the Company is subject to a pending proceeding procedure as a debtor under the United States Bankruptcy Code.
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Samples: Deferred Compensation Agreement (Polo Ralph Lauren Corp), Deferred Compensation Agreement (Polo Ralph Lauren Corp), Deferred Compensation Agreement (Polo Ralph Lauren Corp)
TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARY WHEN THE COMPANY IS INSOLVENT. (a) The Trustee shall cease payment of benefits to Plan participants and their beneficiaries payments hereunder if the Company is Insolvent. The Company shall be considered "“Insolvent" ” for purposes of this Trust Agreement if (i) the Company is unable to pay its debts as they become due, or (ii) the Company is subject to a pending proceeding as a debtor under the United States Bankruptcy Code.
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Samples: Trust Agreement (Rayonier Inc), Trust Agreement (Rayonier Inc)
TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARY WHEN THE COMPANY IS INSOLVENT. (a) The Trustee shall not cease payment of benefits to Plan participants and their beneficiaries the Beneficiaries if the Company is Insolvent. The Company shall be considered "“Insolvent" ” for purposes of this Trust Agreement if (i) the Company is unable to pay its debts as they when the same become due, or (ii) the Company is subject determined to a pending proceeding as a debtor under be Insolvent by its primary banking regulator, or (iii) the United States Bankruptcy CodeCompany is placed in receivership by its primary banking regulator due to its Insolvency.
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Samples: Irrevocable Trust Agreement (Talecris Biotherapeutics Holdings Corp.)
TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARY WHEN THE COMPANY IS INSOLVENT. (a) The Trustee shall cease payment of benefits to Plan participants the Executives and their beneficiaries if the Company is Insolvent. The Company shall be considered "Insolvent" for purposes of this Trust Agreement if (i) the Company is unable to pay its debts as they become due, or (ii) the Company is subject to a pending proceeding procedure as a debtor under the United States Bankruptcy Code.
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Samples: Deferred Compensation Agreement (Polo Ralph Lauren Corp)
TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARY WHEN THE COMPANY IS INSOLVENT. (a) The Trustee shall cease payment of benefits from the Trust to Plan participants Participants and their beneficiaries if the Company is Insolvent. The Company shall be considered "“Insolvent" ” for purposes of this Trust Agreement if if: (i) the Company is unable to pay its debts as they become due, ; or (ii) the Company is subject to a pending proceeding as a debtor under the United States Bankruptcy Code.
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Samples: Trust Agreement (Consol Energy Inc)
TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARY WHEN THE COMPANY IS INSOLVENT. (a) The Trustee shall cease payment of benefits to Plan participants and their beneficiaries payments hereunder if the Company is Insolvent. The Company shall be considered "“Insolvent" ” for purposes of this Trust Agreement if (i) the Company -6- Legal Resources Trust is unable to pay its debts as they become due, or (ii) the Company is subject to a pending proceeding as a debtor under the United States Bankruptcy Code.
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