Reservoir Trust definition

Reservoir Trust means the NatWest Pension Reservoir Trust to be established by a trust deed as further described in Clause ‎2, under which amounts otherwise payable to the Main Section are instead held on trust on terms such that amounts may be returned to the Principal Employer or paid to the Main Section in accordance with the Final Payment Triggers Agreement.
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Examples of Reservoir Trust in a sentence

  • This Payment Triggers Agreement and the NatWest Pension Reservoir Trust [Note: consider other documents to refer to] contain the entire agreement between the parties relating to the transactions contemplated by this Agreement and supersede all previous agreements between the parties relating to these.

  • This trust shall be known as the NatWest Pension Reservoir Trust.

  • Without limitation, in the event that an arrangement as described at Clause ‎4.1.2 is put in place, the Parties expect that it will be necessary to amend the Draft Payment Triggers Agreement and the Draft RT Deed to provide that the SPV (rather than the Principal Employer) is a beneficiary under the Reservoir Trust and to facilitate payments from the Reservoir Trust to the SPV (rather than to the Principal Employer).

  • The Principal Employer may only pay further amounts into the Reservoir Trust (other than amounts in satisfaction of any tax indemnity or gross up obligation under the Protection) if either this cap is increased by such further amounts or NWPTL otherwise agrees to the payment (such agreement not to be unreasonably withheld).

  • The Principal Employer will make or procure a further payment to the Reservoir Trust under Clause 7 of the 2018 Framework Agreement, as amended by the Amendment Deed, no later than 90 days after any relevant distribution to shareholders is made by NatWest Group plc, unless the Principal Employer and NWPTL agree a later date.

  • SubCo charges by way of a first fixed charge its beneficial interest (and any RT Payment) in the NatWest Pension Reservoir Trust to which it is entitled, or which is held on its behalf by any nominee, trustee or custodian.

  • The Principal Employer will consider prior to the establishment of the Reservoir Trust whether, and to what extent, it would be consistent with the Principal Employer’s legal and regulatory obligations to allow this (with a view to any appropriate language being included in the final version of the trust deed governing the Reservoir Trust).

  • Any replacement as Reservoir Trustee will be appointed in accordance with the terms of the trust deed which governs the Reservoir Trust from time to time.

Related to Reservoir Trust

  • Reservoir means a water impoundment project operated by the United States Army Corps of Engineers that is intended to retain water or delay the runoff of water in a designated surface area of land.

  • Master Trust means Citibank Credit Card Master Trust I.

  • the Academy Trust means the company intended to be regulated by these Articles and referred to in Article 2;

  • Income trust means a trust that is not a unitrust.

  • Owner Trust means with respect to any Leased Aircraft, the trust created by the "Trust Agreement" referred to in the Leased Aircraft Indenture related thereto.