Payments by the Trustee Clause Samples

Payments by the Trustee. The Trustee shall give or procure that there be given notice to the Noteholders of the day fixed for any payment to them under Clause 7.1. Any such payment, which may be made in the same manner as provided in the Conditions, shall be a good discharge to the Issuer and the Trustee pro tanto.

Payments by the Trustee. The Trustee shall give or procure that there be given notice to the relevant Holders in accordance with Condition 13 of the day fixed for any payment to them under Clause

Payments by the Trustee. Payments of money or property from _______________________ the trust fund shall be made by the Trustee for any purpose authorized under the Plan upon written direction from the Plan Administrator. The Trustee shall have no duty to inquire whether directions by the Plan Administrator conform to the Plan provisions. If the Plan Administrator directs that any payment or payments be made or continued contingent upon future events, it shall be the responsibility of the Plan Administrator to notify the Trustee in writing that the event has occurred and any payments made by the Trustee prior to the date of such notification shall, as to the Trustee, be proper payments. Payments by the Trustee shall be delivered or mailed to addresses supplied by the Plan Administrator and the Trustee's obligation to make such payments shall be satisfied upon such delivery or mailing. The Trustee shall have no obligation to determine the identity of persons entitled to benefits or their mailing addresses.

Payments by the Trustee. The Trustee shall, from time to time, make payments out of the Trust Fund to the persons or entities to whom such monies are to be paid in such amounts and for such purposes as may be specified by the Trustee. To the extent permitted by law, the Plan Administrator shall be under no liability for any payment made pursuant to the direction of the Trustee. Any payment by the Trustee shall constitute a certification that the distribution or payment so made is one which the Trustee is authorized to make.

Payments by the Trustee. Upon the execution and delivery of the Site Lease and this Lease, the Trustee shall deposit the amount of $[1,300,000] with the Escrow Agent pursuant to the terms of the Site Lease, Indenture and Escrow Agreement, to defease the portion of the Series 2006A Certificates allocated to the City’s Golf Enterprise Fund and otherwise complete the Series 2020A Refunding Project. Such amounts shall be disbursed by the Escrow Agent in accordance with the terms of the Escrow Agreement. The City hereby further authorizes the payment of the Series 2006A Certificates in the manner and form provided by the Escrow Agreement, authorizes the purchase of the Federal Securities described in the Escrow Agreement, and authorizes the completion and execution of the Escrow Agreement. Upon the execution and delivery of the Site Lease and this Lease, the Trustee shall pay to City the amount of $[4,555,000] pursuant to the terms of the Site Lease and Indenture, less any amounts deposited to the Cost of Execution and Delivery Fund in accordance with the Indenture. The City will use this amount to pay costs related to the Series 2020B Irrigation Project. The City reserves the right to modify or add items to the Leased Property. No such change in the Leased Property shall increase the amount of moneys required to be deposited by the Trustee pursuant to this Article, or alter the Base Rentals set forth in Exhibit A. The Trustee shall have no obligation whatsoever with the operation of the Leased Property other than the obligations to provide the City the proceeds of the Site Lease as set forth therein and in this Article.

Payments by the Trustee. At or before the close of business on the Delivery Date and upon receipt by the Trustee of the Purchase Price of the Tendered Bonds that are delivered to it, the Trustee shall pay the Purchase Price of the Tendered Bonds to the registered owners thereof as provided in the applicable form of Bonds. The Trustee shall apply in order, first, moneys paid to it by the Remarketing Agent or by new purchasers of the Tendered Bonds tendered as proceeds of the remarketing of such Bonds by the Remarketing Agent, second, moneys drawn on the Credit Facility for the purpose of purchasing Tendered Bonds (including amounts drawn on the Credit Facility to pay accrued interest on the Tendered Bonds), and third, moneys paid to it by the Borrower. If sufficient funds are not available for the purchase of all Bonds tendered on any Delivery Date, no purchase shall be consummated.

Payments by the Trustee. 6.1 The establishment of the Trust and the payment or delivery to the Trustee of money or other property acceptable to the Trustee shall not vest in any Member any right, title or interest in and to any assets of the Trust Fund or any payments except upon the occurrence, if any, of a Change in Control, as defined in Section 12.1 below, in which event the right, title and interest of a Member in any assets of the Trust Fund shall be determined solely pursuant to Section 6.4 of this Trust Agreement. 6.2 The Company shall from time to time provide the Trustee with a list of Members, indicating an amount payable to each Member upon such Member's termination of employment for any reason following the occurrence, if any, of a Change in Control, as of the dates therein indicated and subject to adjustments as therein indicated. This document shall be called the "Payment 6.3 Prior to the occurrence, if any, of a Change in Control, and with respect to any amounts remaining in the Trust Fund after the payments required by Section 6.4 of this Trust Agreement following the occurrence of a Change in Control have been made, the Trustee shall make such payments from the Trust Fund at such time or times to such person or persons, including the Company, at such addresses and in such amounts-and for such purposes as the Company shall specify; the Trustee shall not make any such payments from the Trust Fund without the written direction of the Company (except as may otherwise be required by a court having competent jurisdiction) even though it may be informed from another source (including a Member) that payments are due under the Plan. The Trustee shall, to the maximum extent permitted by applicable law, be fully protected in acting upon any such written direction of the Company (or the failure to give such written direction) pursuant to this Section 6.3, and shall have no duty to determine the rights of any person in the Trust Fund or under the Plan or to inquire into the right or power of the Company to grant any payment to a Member or to direct any such payment. (a) In the event of the occurrence of a Change in Control, the amount specified, and/or determined from the formulae and adjustments contained, in the Payment Schedule then in effect, shall, subject to Section 6.4(d), be paid by the Trustee to each Member listed thereon as a former employee of the Company (or to the Beneficiary designated on the Payment Schedule or, absent such a designation, to the legal represen...

Payments by the Trustee. 6.1 The establishment of the Trust and the payment or delivery to the Trustee of money or other property acceptable to the Trustee shall not vest in any Trust Beneficiary any right, title or interest in and to any assets of the Trust. 6.2 At the direction of the Employer, the Trustee shall make payments out of the Trust Fund to Trust Beneficiaries in such manner and in such amounts as are required under the Plan ("Supplemental Benefits"). The Trustee shall follow the instructions of the Employer with respect to the payment of Supplemental Benefits and shall be fully indemnified therefore by the Employer. 6.3 Notwithstanding any other provision of this Trust Agreement to the contrary, if at any time the Trust is finally determined by the IRS not to be a "grantor trust," with the result that the income of the Trust Fund is not treated as income of the Employer pursuant to sections 671 through 679 of the Code, or if a federal tax is finally determined by the IRS or is determined by counsel to the Trustee to be payable by the Trust Beneficiaries with respect to the income of the Trust Fund prior to the final distribution of the amounts credited to the accounts of such Trust Beneficiaries, then the Trust shall immediately terminate and the assets of the Trust shall be liquidated and paid to the Trust Beneficiaries to the extent of their account balances or, if the assets are not sufficient to pay the total amount of all of the account balances, pro rata based upon the account balance. Such liquidation and payment shall be made as soon as practicable by the Trustee, regardless of whether any Trust Beneficiary's employment with Employer has terminated and regardless of the form and time of payment specified by a Trust Beneficiary, if any, under the relevant provisions of the Plan. Any remaining assets (less any expenses or costs due under Section 11 of this Trust Agreement) shall then be paid by the Trustee to Employer. If a federal tax is finally determined by the IRS or by counsel to the Trustee to be payable by one or more of the Trust Beneficiaries with respect to less than the entire income of the Trust Fund, then the preceding provision of this Section 6.3 shall apply only with respect to the effected accounts. Any amounts distributed pursuant to this Section 6.3 shall be deemed Supplemental Benefits and shall accordingly reduce the Employer's liability for such benefits under the Plan. 6.4 Employer shall remain primarily liable to pay Supplemental Benefits...

Payments by the Trustee. 5.1 The establishment of the Trust and the payment or delivery to the Trustee of money or other property acceptable to the Trustee shall not vest in Plan participants or their beneficiaries any right, title or interest in and to any assets of the Trust, except as otherwise set forth in this Section 5. 5.2 The Trustee shall make payment of Plan benefits to participants and beneficiaries of the Plan from the assets held in the Trust Fund, if and to the extent such assets are available for distribution, in accordance with the terms and conditions set forth in the Plan and subject to the election, if any, of the participant or his beneficiary thereunder. 5.3 If the Trust Fund is not sufficient to make one or more payments of benefits due under the Plan to such participant or beneficiary in accordance with the terms of the Plan, the Company shall make the balance of each such payment as it falls due. 5.4 Notwithstanding anything contained in this Trust Agreement to the contrary, if at any time the Trust finally is determined by the Internal Revenue Service ("IRS") not to be a "grantor trust" with the result that the income of the Trust Fund is not treated as income of the Company pursuant to Subpart E, Part I of Subchapter J of the Code, or if a tax is finally determined by the IRS or is determined by counsel to the Trustee to be payable by any Plan participant or beneficiary in respect of any vested interest in the Trust Fund prior to payment of such interest to such participant or beneficiary, then the Trust shall immediately terminate and the full fair market value of the assets in the Trust Fund shall be returned to the Company. The Company shall fully reimburse each participant and their beneficiaries for any tax liability they may incur pursuant to the operation of this Section. For purposes of this Section, a final determination of the IRS shall be a decision rendered by the IRS which is no longer subject to administrative appeal within the IRS. 5.5 Notwithstanding anything in this Trust Agreement to the contrary, the Company shall remain primarily liable under the Plan to pay benefits. However, the Company's liability under the Plan shall be reduced or offset to the extent and by the value of any benefit payments under the Plan made from the Trust. 5.6 The Trustee shall deduct from each payment under this Trust Agreement any federal, state or local withholding or other taxes or charges which the Trustee may be required to deduct under applicable laws, s...