Irrevocability of the Trust; Modifications Clause Samples

Irrevocability of the Trust; Modifications. (a) The Trust shall be irrevocable and shall remain in full force and effect until the expiration of its term, except for the cases of early termination set forth in this Trust Agreement. (b) The terms and conditions of this Trust Agreement may only be amended by written agreement of the Settlor and the Trustee; provided, however, that the consent of the Beneficiaries shall not be required for purposes of making the aforementioned amendments; provided, further, that in the event the Trustee is instructed to amend any Option Agreements, Restricted Stock Award Agreements and/or Performance Linked Award Agreements, the consent of the respective Participant shall be required for such purposes.
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Related to Irrevocability of the Trust; Modifications

  • Irrevocability and Termination Subject to the right of the parties to amend this Agreement as provided in Section 16, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the FDEP Secretary, or by the Trustee and the FDEP Secretary, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be delivered to the Grantor.

  • Irrevocability Except as otherwise provided in this Section 5, a Participant’s Payment Election shall be irrevocable.

  • Amendments, Modifications and Waivers No amendment, modification or waiver in respect of this Agreement shall be effective against any party unless it shall be in writing and signed by Parent, the Company and Stockholder.

  • Revocability This General Release shall not become effective or enforceable until seven (7) calendar days after the Executive signs it. The Executive may revoke his acceptance of this General Release at any time within that seven (7) calendar day period by sending written notice to the Company. Such notice must be received by the Company within the seven (7) calendar day period in order to be effective and, if so received, would void this General Release for all purposes.

  • AVAILABILITY OF AGREEMENT The employer must ensure that copies of this Agreement and the NES are available to all employees to whom they apply, such as on a notice board which is conveniently located at or near the workplace or through electronic means, whichever makes them more accessible.