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Common use of Continuation of Trust Clause in Contracts

Continuation of Trust. If the Plan is terminated by the Board of Directors but the Board of Directors determines that the Fund shall be continued pursuant to its terms and the provisions of this Section 12.6, no further contributions shall be made, the Members’ Accounts shall be nonforfeitable, and the Fund shall be administered as though the Plan were otherwise in full force and effect. If the Fund is subsequently terminated, the provisions of Section 12.5 shall then apply.

Appears in 2 contracts

Samples: Affiliate Agreement (Arrow Electronics Inc), Savings Plan (Arrow Electronics Inc)

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Continuation of Trust. If the Plan is terminated by the Board of Directors but the Board of Directors determines that the Fund shall be continued pursuant to its terms and the provisions of this Section 12.6, no further contributions shall be made, the Members' Accounts shall be nonforfeitable, and the Fund shall be administered as though the Plan were otherwise in full force and effect. If the Fund is subsequently terminated, the provisions of Section 12.5 shall then apply.

Appears in 1 contract

Samples: Savings Plan (Arrow Electronics Inc)

Continuation of Trust. If the Plan is terminated by the Board of Directors but the Board of Directors determines that the Trust Fund shall be continued pursuant to its terms and the provisions of this Section 12.6continued, no further contributions shall be mademade by the Employers, but the Members’ Accounts shall be nonforfeitable, and the Trust Fund shall be administered as though the Plan were otherwise in full force and effect. If the Trust Fund is subsequently terminated, the provisions of Section 12.5 14.3 shall then apply.

Appears in 1 contract

Samples: Employees' Savings, Investment and Profit Sharing Plan (Revlon Inc /De/)

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Continuation of Trust. If the Plan is terminated by the Board of Directors but the Board of Directors determines that the Trust Fund shall be continued pursuant to its terms and the provisions of this Section 12.6continued, no further contributions shall be mademade by the Employers, but the Members’ Accounts shall be nonforfeitable, and the Trust Fund shall be administered as though the Plan were otherwise in full fill force and effect. If the Trust Fund is subsequently terminated, the provisions of Section 12.5 14.3 shall then apply.

Appears in 1 contract

Samples: Employee Retirement Plan (Cosmetic Center Inc)

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