Environmental Custodial Trust definition

Environmental Custodial Trust means the trust established under Section 5.6 hereof to own the Transferred Real Properties, manage and implement Environmental Actions with respect to the Transferred Real Properties as necessary and make distributions, if any, to the Environmental Trust Beneficiaries in accordance with the Environmental Custodial Trust Agreement.
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Environmental Custodial Trust has the meaning set forth in the preamble to this Agreement.
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Examples of Environmental Custodial Trust in a sentence

  • This Settlement Agreement hereby incorporates in full the Environmental Custodial Trust Agreement that is entered into by the parties thereto.

  • Unless otherwise expressly provided herein, terms used in this Settlement Agreement that are defined in CERCLA, CERCLA regulations, the Bankruptcy Code, or the Environmental Custodial Trust Agreement attached as Exhibit B hereto shall have the meaning assigned to them therein.

  • In consultation with the Lead Government Agency, the Environmental Custodial Trust Trustee shall prepare balance statements and annual budgets of projected expenditures for Environmental Costs from each of the Custodial Trust Environmental Cost Accounts.

  • Except as otherwise provided herein or by the Plan or the Settlement Agreement, the Environmental Custodial Trust Trustee shall not be required to file any accounting or seek approval of the Court with respect to the administration of the Environmental Custodial Trust, or as a condition for making any payment or distribution out of the Custodial Trust Assets.

  • Notwithstanding anything to the contrary in this Article 3, the Environmental Custodial Trust hereby grants to the Environmental Custodial Trust Trustee, the United States and the respective States a first-priority lien on and security interest in the Custodial Trust Assets to secure the payment of all amounts owed to, accrued or reserved on account of the Environmental Custodial Trust or to be retained by the Environmental Custodial Trust Trustee hereunder or otherwise due hereunder.

  • For all federal income tax purposes, the Environmental Custodial Trust Trustee and Settlors shall treat the transfer of the Custodial Trust Assets by Settlors to the Environmental Custodial Trust as a transfer to a qualified settlement fund pursuant to section 468B of the Internal Revenue Code and related Treasury Regulations.

  • The Environmental Custodial Trust Trustee shall be under no liability for interest or producing income on any moneys received by the Environmental Custodial Trust hereunder and held for distribution or payment as provided in this Agreement, except as such interest is actually received by the Environmental Custodial Trust.

  • Subject to the provisions of Section 4.11 herein, the term of the Environmental Custodial Trust Trustee shall be for ten years at which time the Environmental Custodial Trust Trustee may be re-appointed or terminated.

  • The Environmental Custodial Trust Trustee shall abide by the terms of any institutional controls or deed restrictions in place or of record as to any Transferred Real Property.

  • The Environmental Custodial Trust shall execute and record in the appropriate local real estate records any easements or deed restrictions restricting the use of the Transferred Real Properties requested by the Environmental Trust Beneficiaries in order to protect public health, welfare or safety or the environment or ensure non-interference with or protectiveness of any action.

Related to Environmental Custodial Trust

  • Custodial agency means an agency of the government designated to act on behalf of the government owner of the disposal site.

  • Certificate Depository Agreement means the agreement among the Trust, the Depositor and The Depository Trust Company, as the initial Clearing Agency, dated as of the Closing Date, relating to the Trust Securities Certificates, substantially in the form attached as Exhibit B, as the same may be amended and supplemented from time to time.

  • Non-Lead Certificate Administrator means the “certificate administrator” under any Non-Lead Securitization Servicing Agreement.

  • Custodial Agent means the Person who is then the Custodial Agent thereunder.

  • Custodial property means an interest in property transferred to a custodian under this act and the income from, and proceeds of, that interest in property.

  • Custodial File As to each Mortgage Loan, any mortgage loan documents which are delivered to the Custodian or which at any time come into the possession of the Custodian as set forth in Section 2 of this Custodial Agreement.

  • Custodial Agreement An agreement that may be entered into among the Company, the Master Servicer, the Trustee and a Custodian pursuant to which the Custodian will hold certain documents relating to the Mortgage Loans on behalf of the Trustee. Custodian: A custodian appointed pursuant to a Custodial Agreement.

  • Certificate Administrator means the certificate administrator appointed as provided in the Lead Securitization Servicing Agreement.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Certificate Custodian Initially, Wachovia Bank, National Association; thereafter any other Certificate Custodian acceptable to The Depository Trust Company and selected by the Trustee.

  • Master Servicer means the master servicer appointed as provided in the Lead Securitization Servicing Agreement.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Custodial Care means help in transferring, eating, dressing, bathing, toileting and other such related activities. Custodial care does not include Covered Services determined to be Medically Necessary.

  • Custodial parent means a parent awarded custody by a court decree. In the absence of a court decree, it is the parent with whom the child resides more than one half of the calendar year without regard to any temporary visitation.

  • Lead Securitization Servicing Agreement means (i) the pooling and servicing agreement or other comparable agreement related to the Lead Securitization, and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second paragraph of Section 2(a).

  • Custodial Agreements The Custodial Agreements, listed in Exhibit F hereof, as each such agreement may be amended or supplemented from time to time as permitted hereunder.

  • Custodial Services means the safekeeping and management of an

  • National City Servicing Agreement Solely with respect to the National City Mortgage Loans, the Master Seller’s Warranties and Servicing Agreement, dated as of October 1, 2001, between the Transferor and National City, as the same may be amended from time to time, and any assignments and conveyances related to the National City Mortgage Loans.

  • Securities Administrator Xxxxx Fargo Bank, N.A., or its successor in interest, or any successor securities administrator appointed as herein provided.