HomeMy WebLinkAbout1929 may render any Policy invalid or unenforceable. Neither the
F~nployer nor the Trustses shall be responsible for any inability
to perform or delay in perfoxming any act occasioned by any pro-
visions of any Policq or restriction im~osed by the Insurer or by
any other persan. In the event that it becomes impossible for the
Employer ox the Trustees to perform any act vnder this Trust, this
act shall be performed which in the judgment of the ~nployer or of
the Trustees will most nearly carry out the intent and purpose of
this Trust.
12.05 No Insurer shall be considered to be a party to th~.s +
agreement, to have any responsibility for its validity, for any
action taken by the Trustees, as sole owner of Policies held under
the Trust, for accepting pre~mium payments from the Ttustees, or for ~
making payment of any amounts in accordance with the directions of
the Trustees without liability to see to the application of anp such
payments. The ~nsurer shall be fu11y protected in assuming that
the Trustees are as shown on the latest notification received by
it at its home office.
12.0~ The Insurer shall be fully protected from any
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liability in assuming that the Trust has not been amended or ~
tezminated until notice in writing has been received by the Insurer
at its home office.
12.07 Notwithstanding any other provision of this agreement,
if an annual pension of $1,500 or more is to be provided under the ~
Trust from contributions of the F~ployer for aay Participant, if ~
the amouats to prov;..de such pension became payable in any form within
ten ye$rs of the establislimoent of the Trust,"if the full current
~
costs of this Trust have then been met,"and if the Participant to
whom such amounts are to be paid was among the twentyfive highest
i
paid F~ployees on the effective date of the Trust, the amounts in ~
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