Cessation of Benefit Payments Sample Clauses

Cessation of Benefit Payments. If at any time the Board of Directors or the CEO or CFO of the Company or Bank notifies the Trustee or the Trustee has determined that the Company or Bank has become Insolvent, the Trustee shall withhold payment of the 2010 Bonus from the Trust to or on behalf of the Executive (or his beneficiaries). Further, the Trustee shall continue to hold the assets of the Trust in trust for the benefit of the Company’s or Bank’s general creditors until the Trustee receives a court order directing the disposition of such assets. Nothing in this Trust Agreement shall in any way diminish any rights of the Executive or his beneficiaries to pursue their rights as general creditors of the Company or Bank with respect to the 2010 Bonus or otherwise. The Trustee shall resume payment of 2010 Bonus to the Executive or his beneficiaries in accordance with Section 2 of this Trust Agreement only after the Trustee has determined that the Company and/or Bank is not Insolvent (or is no longer Insolvent) or pursuant to an order from the U.S. Bankruptcy Court or other court of competent jurisdiction.
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Cessation of Benefit Payments. Except with respect to accident or health plan coverage and group-term life insurance coverage, and unless otherwise provided by law, a Participant’s eligibility to receive Benefits under this Plan will end if: (a) the Participant separates from service with the Employer; (b) the Participant no longer satisfies the eligibility requirements for participation; (c) the Participant ceases making required premium payments with respect to a Benefit under this Plan; or, (d) this Plan is terminated. Termination of participation will automatically revoke the Participant’s elections. A Participant whose eligibility to receive Benefits under this Plan ends for any of these reasons may not renew participation before the first day of the next Plan Year, and then only if the Participant satisfies all of the eligibility requirements for participation that are applicable to new Participants and makes necessary Benefit elections.
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Cessation of Benefit Payments. Your weekly payments will cease on the earliest of the following events:
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Cessation of Benefit Payments. 4 3.3 INSOLVENCY............................................................................... 4 ARTICLE IV NO REVERSION TO CONTROLLING EMPLOYER.................................................. 5
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Cessation of Benefit Payments. If at any time Trustee has determined ----------------------------- that one of the Participating Employers has become Insolvent, the Trustee shall discontinue payments from the Trust to or on behalf of Plan participants who are or were employees of that Participating Employer, to the extent such employees' benefits correspond to assets of the Trust (and earnings thereon) contributed by such Participating Employer. Further, the Trustee shall segregate the assets of the Trust attributable to such Participating Employer's participants (the "Affected Assets") and continue to hold the Affected Assets in trust for the benefit of the Participating Employers general creditors until the Trustee receives a court order directing the disposition of such assets. Nothing in this Trust Agreement shall in any way diminish any rights of Plan participants or their beneficiaries to pursue their rights as general creditors of the Participating Employer with respect to benefits due under the Plan or otherwise. Trustee shall resume the payment of benefits to or on behalf of Plan participants who are or were employees of such Participating Employer in accordance with Article II of this Trust Agreement on the date (the "Determination Date") Trustee has determined that the Participating Employer is not Insolvent (or is no longer Insolvent). Notwithstanding anything in this Article III to the contrary, if Trustee discontinues the payment of benefits from the Trust and segregates the Affected Assets pursuant to this Section 3.2, Trustee shall not thereafter make payment of benefits accrued before the Determination Date to or on behalf of such Plan participants from any assets of the Trust other than (i) the Affected Assets (and earnings thereon), and (ii) new contributions made to the Trust for such Participating Employer; provided, nothing contained herein shall prevent Trustee from making payment of benefits accrued on or after the Determination Date to or on behalf of such Plan participants from any assets of the Trust other than the Affected Assets (and earnings thereon) in accordance with the terms of this Trust Agreement.
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Cessation of Benefit Payments. If an EMPLOYEE’s benefit payments have been terminated and the EMPLOYER does not suspend or terminate the employment of the EMPLOYEE, then the EMPLOYEE
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Related to Cessation of Benefit Payments

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Distribution of Benefits Members of this unit with at least one year of the service to the District may apply for a number of days consistent with a one-for-one match of their individual sick leave accumulation as of the end of the previous contract year brought forward to the year of the onset of disability. The combined benefit of accumulated personal sick leave and disability bank leave may not exceed one hundred-eighty days and may carry over from one contract year to another. Employees with less than one full year of service in the District will not be require to contribute one of their individual accumulated sick leave days to the disability bank. The Board reviews the right to request re-application and documentation from anyone requesting more than forty (40) days from the pool. Any benefits will be minus other insurance coverage (i.e. worker’s compensation, social security, etc.).

  • Limitation of Benefits (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any benefit, payment or distribution by the Company to or for the benefit of the Executive (whether payable or distributable pursuant to the terms of this Agreement or otherwise) (a "Payment") would, if paid, be subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then the Payment shall be reduced to the extent necessary to avoid the imposition of the Excise Tax. The Executive may select the Payments to be limited or reduced.

  • Death Subsequent to Commencement of Benefit Payments In the event the Executive dies while receiving payments, but prior to receiving all payments due and owing hereunder, the Employer shall pay the Beneficiary the same amounts at the same times as the Employer would have paid the Executive, had the Executive survived.

  • Payment of Benefits a) In computing the amount of disability benefits, disability will be considered as starting from the first day of disability; however, an employee must be certified by a medical practitioner for the disability within the first three days of disability. In the event that the employee is not certified within the first three days, disability will be considered as starting two complete days prior to the day that the employee is actually certified by a medical practitioner.

  • Continuation of Benefits Following the termination of Executive’s employment hereunder, the Executive shall have the right to continue in the Company’s group health insurance plan or other Company benefit program as may be required by COBRA or any other federal or state law or regulation.

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