Advancement of Premium. Upon the failure of any Employer to make the required Contributions when due hereunder, the Directors shall have the right and power to pay or provide for payment from the Plan of the premiums necessary to provide the Benefits hereunder to an eligible or the eligible Employees of such delinquent Employer, but the Directors shall not be obligated, either to said Employees or said Employer, to make or provide such payments, and Directors shall incur no liability whatsoever, either individually or collectively, for their failure or refusal to do so. In the event such payments are made by the Directors from the Plan on behalf of a delinquent Employer, the Plan shall be reimbursed by said Employer for such payments, and the fact that the Directors may have made such payments shall not alter or diminish the obligations of such Employer or the rights of the Directors under this Article.
Appears in 4 contracts
Samples: Agreement and Declaration of Trust, Agreement and Declaration of Trust, Agreement and Declaration of Trust
