Common use of Irrevocability and Termination Clause in Contracts

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive director, or by the Trustee and the executive director, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The executive director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 2 contracts

Sources: Standby Trust Agreement, Trust Agreement for Liability

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, Trustee and the executive directorNRC, or by the Trustee and the executive director, NRC if the Grantor ceases to exist. Upon termination of the Trusttrust, all remaining trust property, less final trust administration expenses, to the extent not paid directly to the Trustee, shall be paid delivered to the Grantor. The executive director will agree to termination of the Trust when the owner Grantor or operator substitutes alternative financial assurance as specified in this sectionits successor.

Appears in 2 contracts

Sources: Trust Agreement, Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive directorCommissioner of the NJDEP, or by the Trustee and the executive directorCommissioner of the NJDEP, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director Commissioner of the NJDEP will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 2 contracts

Sources: Trust Agreement for Third Party Liability, Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive directorCommissioner of the NJDEP, or by the Trustee and the executive directorCommissioner of the NJDEP, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The executive director Commissioner of the NJDEP will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 2 contracts

Sources: Standby Trust Agreement for Third Party Liability, Standby Trust Agreement for Third Party Liability

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1413, this Trust shall be irrevocable and shall continue until terminated at the written agreement direction of the Grantor, Grantor and the Trustee, and the executive director, or by the Trustee and the executive directorDEP Secretary or designee, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Storage Tank Trust Fund Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1415, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive directorDivision, or by the Trustee and the executive directorDivision, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the GrantorGrantor or its successor. The executive director Division will agree to termination of the Trust when the owner or operator licensee substitutes alternative financial assurance as specified in this sectionassurance.

Appears in 1 contract

Sources: Standby Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive directorAgency Commissioner, or by the Trustee and the executive directorAgency Commissioner, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The executive director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive directorBeneficiary, or by the Trustee and the executive directorBeneficiary, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director Beneficiary will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 1 contract

Sources: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement direction of the Grantor, Grantor and the Trustee, and the executive director, or by the Trustee and the executive directorGAEPD Director or designee, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Underground Storage Tank Standby Trust Fund Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement direction of the Grantor, Grantor and the Trustee, and the executive director, or by the Trustee and the executive directorDEP Secretary or designee, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Storage Tank Standby Trust Fund Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive director, EPD Director or by the Trustee and the executive directorEPD Director, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director EPD Director will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 1 contract

Sources: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, above, this Trust shall be irrevocable and shall continue until terminated at the written agreement direction of the Grantor, Grantor and the Trustee, and the executive director, or by the Trustee and the executive directorDirector, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1414 of this Appendix above, this Trust shall be irrevocable and shall continue until terminated at the written agreement direction of the Grantor, Grantor and the Trustee, and the executive director, or by the Trustee and the executive directorDepartment, if the Grantor ceases to exist. Upon termination Termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Standby Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1416, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive directorCOMMISSIONER, or by the Trustee and the executive directorCOMMISSIONER, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director COMMISSIONER will agree to termination of the Trust when the owner or operator substitutes alternative alternate financial assurance as specified in this section.

Appears in 1 contract

Sources: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 1413, this Trust shall be irrevocable and shall continue until terminated at the written agreement direction of the Grantor, Grantor and the Trustee, and the executive director, or by the Trustee and the executive directorGAEPD Director or designee, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Underground Storage Tank Trust Fund Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 147, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive directorIDNR, or by the Trustee and the executive directorIDNR, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director will agree Pursuant to termination of IAC 567 Chapter 113.14(6)β€œa”, said Agreement may be terminated by the Trust when Grantor only if the owner or operator Grantor substitutes alternative financial assurance as specified in this sectionor if the Grantor is no longer required to demonstrate financial responsibility.

Appears in 1 contract

Sources: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive directorDEQ Director, or by the Trustee and the executive directorDEQ Director, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The executive director DEQ Director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Standby Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 147, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive directorIDNR, or by the Trustee and the executive directorIDNR, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid delivered to the Grantor. The executive director will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, Trustee and the executive directorFDEP Secretary, or by the Trustee and the executive directorFDEP Secretary, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The executive director FDEP Secretary will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Trust Agreement

Irrevocability and Termination. Subject to the right of the parties to amend this Agreement as provided in Section 14, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the executive directorCommissioner, or by the Trustee and the executive directorCommissioner, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be paid to the Grantor. The executive director Commissioner will agree to termination of the Trust when the owner or operator substitutes alternative financial assurance as specified in this section.

Appears in 1 contract

Sources: Standby Trust Agreement for Liability Coverage