Acceleration of Benefit Payments. Notwithstanding the provisions set forth in Paragraphs 1 or 3 of this Agreement, the Corporation may elect to accelerate the payment of any amounts listed in such Paragraphs and make payment in a lump sum equal to the net present value of such payments discounted at an interest rate equal to the thirty (30) year U.S. Treasury Xxxx rate at the time of such proposed payment, without the consent of the Executive or the Executive’s estate, in full satisfaction of the Corporation’s obligations under Paragraph 1 or 3 of this Agreement, as the case may be.
Acceleration of Benefit Payments. Employer hereby reserves the right to accelerate the payment of any sums required to be paid by it pursuant hereto without the consent of Employee or his spouse.
Acceleration of Benefit Payments. The Bank hereby reserves the right to accelerate the payment of any of those sums specified in Paragraph 1, 2 and 3 above without the consent of the Director or the Director’s estate, beneficiaries, or any other person claiming through or under Director.
Acceleration of Benefit Payments. CG&E hereby reserves to its Board of Directors the right to accelerate the payment of any of the benefits specified herein without the consent of Executive.
Acceleration of Benefit Payments. 7.1 The Corporation reserves the right to accelerate the payment of any benefits payable under this Agreement without the consent of the Employee, his estate, his designated beneficiaries or any other person claiming through the Employee, provided that the accelerated payment will be in such amounts and for such periods as will be the equivalent of the monthly payments that would otherwise have been payable.
Acceleration of Benefit Payments. Employer hereby reserves the right to accelerate the payment of any sums required to be paid by it pursuant hereto without the consent of Employee or his beneficiary. 4.
Acceleration of Benefit Payments. Xxxxx hereby reserves the right to accelerate the payment of any sums required to be paid by it pursuant hereto without the consent of Wiskind or his spouse.
Acceleration of Benefit Payments. Company hereby reserves the right to accelerate the payment of any sums required to be paid by it pursuant hereto without the consent of Employee or his spouse.
Acceleration of Benefit Payments. Except as specifically permitted herein or in other sections of this Plan, no acceleration of the time or schedule of any payment may be made hereunder. Notwithstanding the foregoing, payments may be accelerated hereunder by the Bank, in accordance with the provisions of Treasury Regulation 1.409A-3(j)(4) and any subsequent guidance issued by the United States Treasury Department. Accordingly, payments may be accelerated, in accordance with requirements and conditions of the Treasury Regulations (or subsequent guidance) in the following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements with the Federal government; (iii) in compliance with ethics laws or conflicts of interest laws; (iv) in limited cash-outs (but not in excess of the limit under Code Section 402(g)(1)(B)); or (v) for any other purpose set forth in the Treasury Regulations and subsequent guidance.
