CONTRACT DISCONTINUANCE BY LL&A Sample Clauses

CONTRACT DISCONTINUANCE BY LL&A. LL&A may, at its option, discontinue this Contract in whole or in part if (a) You fail to meet the Minimum Contribution Amount specified in Section 1.1 or (b) a modification in this Contract is necessary in order to comply with Federal or State requirements, including the Employee Retirement Income Security Act of 1974, and You refuse to accept a substantially similar contract offered by LL&A that incorporates such modification. Discontinuance pursuant to this Section shall be effective as of a date specified by LL&A, provided You are given at least thirty-one (31) days advance written notice in which to cure any remediable defaults. Discontinuance by LL&A supersedes any date established under Section 11.1.
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CONTRACT DISCONTINUANCE BY LL&A. LL&A may, at its option, discontinue this Contract in whole or in part if (a) You fail to meet the Minimum Contribution Amount specified in Section 1.1 or (b) a modification in this Contract is necessary in order to comply with Federal or State requirements, including the Employee Retirement Income Security Act of 1974, and You refuse to accept a substantially similar contract offered by LL&A that incorporates such modification. Discontinuance pursuant to this Section shall be effective as of a date specified by LL&A, provided You are given at least thirty-one (31) days advance written notice in which to cure any remediable defaults. Discontinuance by LL&A supersedes any date established under Section 11.1. 11.3 EFFECT OF DISCONTINUANCE: As of the date this Contract is discontinued under either 11.1 or 11.2 above: (a) No further Contributions will be accepted by LL&A and no further withdrawals may be made. (b) The Annual Administration Charge will be deducted from each Participant's Account. (c) Participants will be allowed to request transfers from each Sub-Account of the Variable Investment Division to the Guaranteed Interest Division. Transfers from the Guaranteed Interest Division to the Variable Investment Division are not allowed. Transfers among the Sub-Accounts of the Variable Investment Division are not allowed. (d) Participants will not be allowed to request loans. OPTION 1 -------- (e) LL&A will determine the value of the Participant's remaining Account balance, subject to the CDSC schedule in accordance with Section 7.4, held in the Guaranteed Interest Division and will send the Contractholder a lump sum check. The first payment, the value attributable to the Guaranteed Interest Division, will be sent to the Contractholder within thirty (30) days from the date this Contract is discontinued. The entire value attributable to the Sub-Accounts held in the Variable Investment Division will be sent to the Contractholder within (7) business days from the date the Contract is discontinued. The Participant's remaining Account balance shall be the balance remaining after (i) the repayment of any, if applicable, outstanding loans including principal, due and accrued interest, and (ii) any applicable CDSC or Annual Administration Charge that applies to the Participant's Account. OPTION 2 -------- (e) LL&A will determine the value of the Participant's remaining Account balance, subject to the five (5) consecutive year payout schedule in accordance with Sect...
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Related to CONTRACT DISCONTINUANCE BY LL&A

  • Discontinuance of Service This Agreement does not give you a right to continued Service with the Company or any Affiliate, and the Company or any such Affiliate may terminate your Service at any time and otherwise deal with you without regard to the effect it may have upon you under this Agreement.

  • Discontinuance of Business If COMPANY discontinues operating its business, this Agreement shall terminate as of the last day of the month on which COMPANY ceases its entire operations with the same effect as if that last date were originally established as termination date of this Agreement.

  • Discontinuance of Proceedings; Position of Parties Restored If Mortgagee shall have proceeded to enforce any right or remedy under this Mortgage by foreclosure, entry of judgment or otherwise and such proceedings shall have been discontinued or abandoned for any reason, or such proceedings shall have resulted in a final determination adverse to Mortgagee, then and in every such case Mortgagor and Mortgagee shall be restored to their former positions and rights hereunder, and all rights, powers and remedies of Mortgagee shall continue as if no such proceedings had occurred or had been taken.

  • Discontinuance The Employer has the right, at any time, to suspend or discontinue its contributions under the Plan, and to terminate, at any time, this Plan and the Trust created under this Agreement. The Plan will terminate upon the first to occur of the following:

  • Mail Service Interruption If by reason of any interruption of mail service, actual or threatened, any notice to be given to the Trustee would reasonably be unlikely to reach its destination by the time notice by mail is deemed to have been given pursuant to Section 14.3, such notice shall be valid and effective only if delivered at the appropriate address in accordance with Section 14.3.

  • Notice to Discontinue Each Designated Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 7(a)(v), such Designated Holder shall forthwith discontinue disposition of Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until such Designated Holder's receipt of the copies of the supplemented or amended prospectus contemplated by Section 7(a)(v) and, if so directed by the Company, such Designated Holder shall deliver to the Company (at the Company's expense) all copies, other than permanent file copies then in such Designated Holder's possession, of the prospectus covering such Registrable Securities which is current at the time of receipt of such notice. If the Company shall give any such notice, the Company shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement (including, without limitation, the period referred to in Section 7(a)(ii)) by the number of days during the period from and including the date of the giving of such notice pursuant to Section 7(a)(v) to and including the date when sellers of such Registrable Securities under such Registration Statement shall have received the copies of the supplemented or amended prospectus contemplated by and meeting the requirements of Section 7(a)(v).

  • Discontinuance of Remedies In case Lender shall have proceeded to invoke any right, remedy, or recourse permitted under the Loan Documents and shall thereafter elect to discontinue or abandon same for any reason, Lender shall have the unqualified right so to do and, in such event, Borrower and Lender shall be restored to their former positions with respect to the Debt, the Loan Documents, the Property or otherwise, and the rights, remedies, recourses and powers of Lender shall continue as if same had never been invoked.

  • Interruption of Use Tenant agrees that Landlord shall not be liable for damages, by abatement of Rent or otherwise, for failure to furnish or delay in furnishing any service (including telephone and telecommunication services), or for any diminution in the quality or quantity thereof, when such failure or delay or diminution is occasioned, in whole or in part, by breakage, repairs, replacements, or improvements, by any strike, lockout or other labor trouble, by inability to secure electricity, gas, water, or other fuel at the Building or Project after reasonable effort to do so, by any riot or other dangerous condition, emergency, accident or casualty whatsoever, by act or default of Tenant or other parties, or by any other cause beyond Landlord's reasonable control; and such failures or delays or diminution shall never be deemed to constitute an eviction or disturbance of Tenant's use and possession of the Premises or relieve Tenant from paying Rent or performing any of its obligations under this Lease. Furthermore, Landlord shall not be liable under any circumstances for a loss of, or injury to, property or for injury to, or interference with, Tenant's business, including, without limitation, loss of profits, however occurring, through or in connection with or incidental to a failure to furnish any of the services or utilities as set forth in this Article 6.

  • SERVICE XXXX USE A. Controlled Affiliate recognizes the importance of a comprehensive national network of independent BCBSA licensees which are committed to strengthening the Licensed Marks and Name. The Controlled Affiliate further recognizes that its actions within its Service Area may affect the value of the Licensed Marks and Name nationwide.

  • Bank Provides Diverse Financial Services and May Generate Profits as a Result Customer acknowledges that Bank or its Affiliates may have a material interest in transactions entered into by Customer with respect to the Account or that circumstances are such that Bank may have a potential conflict of duty or interest. For example, Bank or its Affiliates may act as a market maker in the Financial Assets to which Instructions relate, provide brokerage services to other customers, act as financial adviser to the issuer of such Financial Assets, act in the same transaction as agent for more than one customer, have a material interest in the issue of the Financial Assets, or earn profits from any of these activities. Customer acknowledges that Bank or its Affiliates may be in possession of information tending to show that the Instructions received may not be in the best interests of Customer. Bank is not under any duty to disclose any such information.

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