Common use of Acceptance of Rollovers Clause in Contracts

Acceptance of Rollovers. Effective Immediately after the Distribution Date, the Tronox SIP shall accept the rollover of all or any portion of the vested account balance (including any outstanding participant loans) of any Transferred Individual who is a participant in the Xxxx-XxXxx SIP and who properly completes the necessary forms to request such a rollover, provided that the Tronox SIP shall not be required to accept the rollover of any shares of Xxxx-XxXxx Common Stock held in a participant’s Xxxx-XxXxx SIP account. The Tronox SIP shall be solely responsible for all liabilities to or relating to Transferred Individuals under the Xxxx-XxXxx SIP to the extent such Transferred Individuals roll over their account balances from the Xxxx-XxXxx SIP to the Tronox SIP. Effective no later than Immediately after the Distribution Date, Tronox shall enter into agreements satisfactory to Xxxx-XxXxx related to such rollovers, the maintenance of the necessary participant records, the appointment of an initial trustee under the Tronox SIP, and the engagement of an initial recordkeeper under the Tronox SIP.

Acceptance of Rollovers. Effective Immediately after the Distribution Date, the Tronox SIP shall accept the rollover of all or any portion of the vested account balance (including any outstanding participant loans) of any Transferred Individual who is a participant in the Xxxx-XxXxx SIP and who properly completes the necessary forms to request such a rollover, provided that the Tronox SIP shall not be required to accept the rollover of any shares of Xxxx-XxXxx Common Stock held in a participant’s 's Xxxx-XxXxx SIP account. The Tronox SIP shall be solely responsible for all liabilities to or relating to Transferred Individuals under the Xxxx-XxXxx SIP to the extent such Transferred Individuals roll over their account balances from the Xxxx-XxXxx SIP to the Tronox SIP. Effective no later than Immediately after the Distribution Date, Tronox shall enter into agreements satisfactory to Xxxx-XxXxx related to such rollovers, the maintenance of the necessary participant records, the appointment of an initial trustee under the Tronox SIP, and the engagement of an initial recordkeeper under the Tronox SIP.