Common use of Withdrawals From Retirement Income Trust Fund Clause in Contracts

Withdrawals From Retirement Income Trust Fund. Exercise of withdrawal rights by the Director pursuant to the Xxxxxxxxx Xxxxx Grantor Trust agreement shall terminate the Bank's obligation to make any further Contributions to the Retirement Income Trust Fund, and the Bank's obligation to record Phantom Contributions pursuant to Subsection 2.1(c) shall commence. For purposes of this Subsection 2.2, "exercise of withdrawal rights" shall mean those withdrawal rights to which the Director is entitled under Article III of the Xxxxxxxxx Xxxxx Grantor Trust agreement and shall exclude any distributions made by the trustee of the Retirement Income Trust Fund to the Director for purposes of payment of income taxes in accordance with Subsection 2.1 of this Agreement and the tax reimbursement formula contained in the trust document, or other trust expenses properly payable from the Xxxxxxxxx Xxxxx Grantor Trust pursuant to the provisions of the trust document.

Withdrawals From Retirement Income Trust Fund. Exercise of withdrawal rights by the Director pursuant to the Xxxxxxxxx Xxxxx Xxxxxx Xxxxxxxxxx Grantor Trust agreement shall terminate the Bank's obligation to make any further Contributions to the Retirement Income Trust Fund, and the Bank's obligation to record Phantom Contributions pursuant to Subsection 2.1(c) shall commence. For purposes of this Subsection 2.2, "exercise of withdrawal rights" shall mean those withdrawal rights to which the Director is entitled under Article III of the Xxxxxxxxx Xxxxx Xxxxxx Xxxxxxxxxx Grantor Trust agreement and shall exclude any distributions made by the trustee of the Retirement Income Trust Fund to the Director for purposes of payment of income taxes in accordance with Subsection 2.1 of this Agreement and the tax reimbursement formula contained in the trust document, or other trust expenses properly payable from the Xxxxxxxxx Xxxxx Xxxxxx Xxxxxxxxxx Grantor Trust pursuant to the provisions of the trust document.

Withdrawals From Retirement Income Trust Fund. Exercise of withdrawal rights by the Director pursuant to the Xxxxxxxxx Xxxxx Xxxxxx X. Xxxxxx, Xx. Grantor Trust agreement shall terminate the Bank's obligation to make any further Contributions to the Retirement Income Trust Fund, and the Bank's obligation to record Phantom Contributions pursuant to Subsection 2.1(c) shall commence. For purposes of this Subsection 2.2, "exercise of withdrawal rights" shall mean those withdrawal rights to which the Director is entitled under Article III of the Xxxxxxxxx Xxxxx Xxxxxx X. Xxxxxx, Xx. Grantor Trust agreement and shall exclude any distributions made by the trustee of the Retirement Income Trust Fund to the Director for purposes of payment of income taxes in accordance with Subsection 2.1 of this Agreement and the tax reimbursement formula contained in the trust document, or other trust expenses properly payable from the Xxxxxxxxx Xxxxx Xxxxxx X. Xxxxxx, Xx. Grantor Trust pursuant to the provisions of the trust document.

Withdrawals From Retirement Income Trust Fund. Exercise of withdrawal rights by the Director pursuant to the Xxxxxxxxx Xxxxx Xxxxxx Grantor Trust agreement shall terminate the Bank's obligation to make any further Contributions to the Retirement Income Trust Fund, and the Bank's obligation to record Phantom Contributions pursuant to Subsection 2.1(c) shall commence. For purposes of this Subsection 2.2, "exercise of withdrawal rights" shall mean those withdrawal rights to which the Director is entitled under Article III of the Xxxxxxxxx Xxxxx Xxxxxx Grantor Trust agreement and shall exclude any distributions made by the trustee of the Retirement Income Trust Fund to the Director for purposes of payment of income taxes in accordance with Subsection 2.1 of this Agreement and the tax reimbursement formula contained in the trust document, or other trust expenses properly payable from the Xxxxxxxxx Xxxxx Xxxxxx Grantor Trust pursuant to the provisions of the trust document.

Withdrawals From Retirement Income Trust Fund. Exercise of withdrawal rights by the Director pursuant to the Xxxxxxxxx Xxxxx Xxxxxx Xxxxxxx Grantor Trust agreement shall terminate the Bank's obligation to make any further Contributions to the Retirement Income Trust Fund, and the Bank's obligation to record Phantom Contributions pursuant to Subsection 2.1(c) shall commence. For purposes of this Subsection 2.2, "exercise of withdrawal rights" shall mean those withdrawal rights to which the Director is entitled under Article III of the Xxxxxxxxx Xxxxx Xxxxxx Xxxxxxx Grantor Trust agreement and shall exclude any distributions made by the trustee of the Retirement Income Trust Fund to the Director for purposes of payment of income taxes in accordance with Subsection 2.1 of this Agreement and the tax reimbursement formula contained in the trust document, or other trust expenses properly payable from the Xxxxxxxxx Xxxxx Xxxxxx Xxxxxxx Grantor Trust pursuant to the provisions of the trust document.