Common use of Status of the Trust Clause in Contracts

Status of the Trust. The Trust shall be irrevocable until such time as the Grantor (or, in the event of the Grantor's death, the Grantor's Beneficiaries, as defined in Section 6.8 hereof) and the Administrator provide written certification to the Trustee that all obligations of the Company to the Grantor and his or her Beneficiaries under the Excess Benefit Agreement have been satisfied. The Trust is intended to constitute a grantor trust under which the Grantor is treated as grantor and owner pursuant to Sections 671 through 679 of the Code, and shall be construed accordingly. Neither the Company nor any person other than the Grantor and, in the event of the Grantor's death, the Grantor's Beneficiaries, and the Trustee acting as such, have any right, title or interest in the assets of the Trust Fund. The assets of the Trust Fund shall at no time be subject to the rights of creditors of the Company.

Status of the Trust. The Trust trust shall be irrevocable until such ------------------- time as the Grantor (or, in the event of the Grantor's death, the Grantor's Beneficiaries, as defined in Section 6.8 hereofVI. (8). below) and the Administrator provide written certification to the Trustee that all obligations of the Company Companies to the Grantor and his or her Beneficiaries under the Excess Benefit Agreement have been satisfied. The Trust trust is intended to constitute a grantor trust under which the Grantor is treated as grantor and owner pursuant to Sections 671 through 679 - 678 of the CodeInternal Revenue Code of 1986, as amended, and shall be construed accordingly. Neither the Company Companies nor any person other than the Grantor and, in the event of the Grantor's death, the Grantor's Beneficiaries, and the Trustee acting as such, have any right, title or interest in the assets of the Trust Fund. The assets of the Trust Fund shall at no time be subject to the rights of creditors of the Company.