Common use of TRUSTEE'S RESPONSIBILITIES IF COMPANY MAY BE INSOLVENT Clause in Contracts

TRUSTEE'S RESPONSIBILITIES IF COMPANY MAY BE INSOLVENT. (a) If at any time the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, the Trustee shall within thirty days independently determine whether the Company is Insolvent and, pending such determination, the Trustee shall discontinue any payment of Benefits under the Plan and this Trust Agreement and shall hold the Trust Fund for the benefit of Bankruptcy Creditors. The Trustee shall resume payments of Benefits under the Plan and this Trust Agreement in accordance with Section 3.6 hereof only after the Trustee has determined that the Company is not Insolvent (or is no longer Insolvent, if the Trustee initially determined the Company to be Insolvent) or upon receipt of an order of a court of competent jurisdiction requiring such payments. The Company, by its chief executive officer and its board of directors, shall further be obligated to give the Trustee prompt notice in writing in the event that the Company becomes Insolvent, with the same consequences as provided in the preceding two sentences. In determining whether the Company is Insolvent, the Trustee may rely conclusively upon, and shall be protected in relying upon, court records showing that the Company is Insolvent, or a current report or statement from a nationally recognized credit reporting agency showing that the Company is Insolvent. For purposes of this Trust Agreement, knowledge and information concerning the Company which is not in the possession of the Trustee shall not be imputed to the Trustee. The Trustee shall have no duty or obligation to ascertain whether the Company is Insolvent unless and until it receives a written notice that the Company is Insolvent as described in the first or third sentence of this Paragraph. (b) If the Trustee determines that the Company is Insolvent, the Trustee shall hold the assets of the Trust Fund for the benefit of the Bankruptcy Creditors, and shall disburse the assets of the Trust Fund to satisfy such claims as a court of competent jurisdiction shall direct. (c) If the Trustee discontinues payment of Benefits pursuant to Section10.2(a) and subsequently resumes such payments, the first payment to a Member or Beneficiary following such discontinuance shall include an aggregate amount equal to the difference between the payments that would have been made to such Member or Beneficiary, as applicable, under this Trust Agreement but for this Section 10.2 and the aggregate payments actually made to such Member or Beneficiary, as applicable, by the Company pursuant to the Plan during any such period of discontinuance. In the event that upon resumption of payments pursuant to the preceding sentence, the assets of the Trust Fund are insufficient to pay Benefits in full, Benefit payments to the affected Members and Beneficiaries shall be prorated so as to equitably apportion the assets of the Trust Fund among all affected Members and Beneficiaries in proportion to their Benefits.

TRUSTEE'S RESPONSIBILITIES IF COMPANY MAY BE INSOLVENT. (a) If at any time the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, the Trustee shall within thirty days independently determine whether the Company is Insolvent and, pending such determination, the Trustee shall discontinue any payment of Benefits under the Plan and this Trust Agreement and shall hold the Trust Fund for the benefit of Bankruptcy Creditors. As a condition of being a Member of the Plan and this Trust Agreement, each Member hereby waives his priority credit position, if any, under applicable state law. The Trustee shall resume payments of Benefits under the Plan and this Trust Agreement in accordance with Section 3.6 hereof only after the Trustee has determined that the Company is not Insolvent (or is no longer Insolvent, if the Trustee initially determined the Company to be Insolvent) or upon receipt of an order of a court of competent jurisdiction requiring such payments. The Company, by its chief executive officer Chief Executive Officer and its board of directorsBoard, shall further be obligated to give the Trustee prompt notice in writing in the event that the Company becomes Insolvent, with the same consequences as provided in the preceding two sentences. In determining whether the Company is Insolvent, the Trustee may rely conclusively upon, and shall be protected in relying upon, court records showing that the Company is Insolvent, or a current report or statement from a nationally recognized credit reporting agency showing that the Company is Insolvent. For purposes of this Trust Agreement, knowledge and information concerning the Company which is not in the possession of the Trustee Trustee, or its employees, shall not be imputed to the Trustee. The Trustee shall have no duty or obligation to ascertain whether the Company is Insolvent unless and until it receives a written notice writing that the Company is Insolvent as described in the first or third sentence of this ParagraphSection 10.2(a). (b) If the Trustee determines that the Company is Insolvent, the Trustee shall hold the assets of the Trust Fund for the benefit of the Bankruptcy Creditors, and shall disburse the assets of the Trust Fund to satisfy such claims as a court of competent jurisdiction shall direct. (c) If the Trustee discontinues payment of Benefits pursuant to Section10.2(a) and subsequently resumes such payments, the first payment to a Member or Beneficiary following such discontinuance shall include an aggregate amount equal to the difference between the payments that would have been made to such Member or Beneficiary, as applicable, under this Trust Agreement but for this Section 10.2 and the aggregate payments actually made to such Member or Beneficiary, as applicable, by the Company pursuant to the Plan during any such period of discontinuance. In the event that upon resumption of payments pursuant to the preceding sentence, the assets of the Trust Fund are insufficient to pay Benefits in full, Benefit payments to the affected Members and Beneficiaries shall be prorated so as to equitably apportion the assets of the Trust Fund among all affected Members and Beneficiaries in proportion to their Benefits.

TRUSTEE'S RESPONSIBILITIES IF COMPANY MAY BE INSOLVENT. (a) If at any time the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, the Trustee shall within thirty 30 days of such allegation, independently determine whether the Company is Insolvent and, pending such determination, the Trustee shall discontinue any payment payments from the Company Trust Assets of Benefits under the Plan Covered Arrangements and this Trust Agreement and Agreement. (b) If the Company notifies the Trustee or the Trustee determines that the Company is Insolvent, the Trustee shall hold the Company Trust Fund Assets for the benefit of Bankruptcy Creditors. The the Company's general creditors, and shall disburse assets from the Company Trust Assets to creditors of the Company only pursuant to an order from a court of competent jurisdiction. (c) If the Trustee discontinues payment from the Company Trust Assets of Benefits pursuant to this Section 12.5, the Trustee shall resume payments from the Company Trust Assets of Benefits under the Plan and this Trust Agreement in accordance with Section 3.6 hereof Covered Arrangements only after the Trustee has determined that the Company is not Insolvent (or is no longer Insolvent, if the Trustee initially determined the Company to be Insolvent) or upon receipt of an order of a court of competent jurisdiction requiring such payments). The Company, by its chief executive officer and its board of directors, shall further be obligated to give the Trustee prompt notice in writing in the event that the Company becomes Insolvent, with the same consequences as provided in the preceding two sentences. In determining whether the Company is Insolvent, the Trustee may rely conclusively upon, and shall be protected in relying upon, court records showing that the Company is Insolvent, or a current report or statement from a nationally recognized credit reporting agency showing that the Company is Insolvent. For purposes of this Trust Agreement, knowledge and information concerning the Company which is not in the possession of the Trustee shall not be imputed to the Trustee. The Trustee shall have no duty or obligation to ascertain whether the Company is Insolvent unless and until it receives a written notice that the Company is Insolvent as described in the first or third sentence of this Paragraph. (b) If the Trustee determines that the Company is Insolvent, the Trustee shall hold the assets of the Trust Fund for the benefit of the Bankruptcy Creditors, and shall disburse the assets of the Trust Fund to satisfy such claims as a court of competent jurisdiction shall direct. (c) If the Trustee discontinues payment of Benefits pursuant to Section10.2(a) and subsequently resumes such payments, the first payment to a Member or Beneficiary Participant following such discontinuance shall include an aggregate amount equal to the difference between the payments that which would have been made to such Member or Beneficiary, as applicable, Participant under this Trust Agreement but for this Section 10.2 12.5 and the aggregate payments actually otherwise made to such Member or Beneficiary, as applicable, by the Company Participant pursuant to the Plan Covered Arrangements during any such period of discontinuance. In ; provided, however, that such payment shall be made from the event that upon resumption of payments pursuant Company Trust Assets only to the preceding sentence, the assets of the extent Company Trust Fund Assets are insufficient to pay Benefits in full, Benefit payments to the affected Members and Beneficiaries shall be prorated so as to equitably apportion the assets of the Trust Fund among all affected Members and Beneficiaries in proportion to their Benefitsthen available for such purposes.

TRUSTEE'S RESPONSIBILITIES IF COMPANY MAY BE INSOLVENT. (a) If at any time the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, the Trustee shall within thirty 30 days of such allegation, independently determine whether the Company is Insolvent and, pending such determination, the Trustee shall discontinue any payment payments from the Company Trust Assets of Benefits under the Plan Covered Arrangements and this Trust Agreement and Agreement. (b) If the Company notifies the Trustee or the Trustee determines that the Company is Insolvent, the Trustee shall hold the Company Trust Fund Assets for the benefit of Bankruptcy Creditors. The the Company's general creditors, and shall disburse assets from the Company Trust Assets to creditors of the Company only pursuant to an order from a court of competent jurisdiction. (c) If the Trustee discontinues payment from the Company Trust Assets of Benefits pursuant to this Section 12.5, the Trustee shall resume payments from the Company Trust Assets of Benefits under the Plan and this Trust Agreement in accordance with Section 3.6 hereof Covered Arrangements only after the Trustee has determined that the Company is not Insolvent (or is no longer 77 Insolvent, if the Trustee initially determined the Company to be Insolvent) or upon receipt of an order of a court of competent jurisdiction requiring such payments). The Company, by its chief executive officer and its board of directors, shall further be obligated to give the Trustee prompt notice in writing in the event that the Company becomes Insolvent, with the same consequences as provided in the preceding two sentences. In determining whether the Company is Insolvent, the Trustee may rely conclusively upon, and shall be protected in relying upon, court records showing that the Company is Insolvent, or a current report or statement from a nationally recognized credit reporting agency showing that the Company is Insolvent. For purposes of this Trust Agreement, knowledge and information concerning the Company which is not in the possession of the Trustee shall not be imputed to the Trustee. The Trustee shall have no duty or obligation to ascertain whether the Company is Insolvent unless and until it receives a written notice that the Company is Insolvent as described in the first or third sentence of this Paragraph. (b) If the Trustee determines that the Company is Insolvent, the Trustee shall hold the assets of the Trust Fund for the benefit of the Bankruptcy Creditors, and shall disburse the assets of the Trust Fund to satisfy such claims as a court of competent jurisdiction shall direct. (c) If the Trustee discontinues payment of Benefits pursuant to Section10.2(a) and subsequently resumes such payments, the first payment to a Member or Beneficiary Participant following such discontinuance shall include an aggregate amount equal to the difference between the payments that which would have been made to such Member or Beneficiary, as applicable, Participant under this Trust Agreement but for this Section 10.2 12.5 and the aggregate payments actually otherwise made to such Member or Beneficiary, as applicable, by the Company Participant pursuant to the Plan Covered Arrangements during any such period of discontinuance. In ; provided, however, that such payment shall be made from the event that upon resumption of payments pursuant Company Trust Assets only to the preceding sentence, the assets of the extent Company Trust Fund Assets are insufficient to pay Benefits in full, Benefit payments to the affected Members and Beneficiaries shall be prorated so as to equitably apportion the assets of the Trust Fund among all affected Members and Beneficiaries in proportion to their Benefitsthen available for such purposes.