Deferral of Payments. The Executive shall have the right to elect to defer the Post-Change in Control Severance Payment to be received by the Executive pursuant to this Section 6 under the terms and conditions of the Deferred Compensation Plan. Any such deferral election shall be made in accordance with Section 18(b) hereof.
Deferral of Payments. To the extent that any payment under this Agreement, when combined with all other payments received during the year that are subject to the limitations on deductibility under Section 162(m) of the Code, exceeds the limitations on deductibility under Section 162(m) of the Code, such payment will, in the discretion of the Bank, be deferred to the next succeeding calendar year. Such deferred amounts will be paid no later than the 60th day after the end of such next succeeding calendar year, provided that such payment, when combined with any other payments subject to the Section 162(m) limitations received during the year, does not exceed the limitations on deductibility under Section 162(m) of the Code.
Deferral of Payments. To the extent that any payment under this Agreement, when combined with all other payments received during the year that are subject to the limitations on deductibility under Code Section 162(m), exceeds the limitations on deductibility under Code Section 162(m), such payment will be delayed until the first year in which it is deductible.
Deferral of Payments. Notwithstanding the foregoing, in the event that any amount would otherwise have been payable as a result of subparagraph (c) above prior to the Effective Date, such amount shall not be paid until the first regular payroll date following the Effective Date.
Deferral of Payments. Notwithstanding anything herein to the contrary, the Company may defer any payment due under this Agreement to the earliest date upon which the payment can be made and deducted by the Company in light of the provisions of Section 162(m) of the Internal Revenue Code.
Deferral of Payments. The Company reserves the right: - to defer determination of the cash value and payment of the cash value; - to defer payment of a loan or withdrawal; and - to defer determination of a change in the amount of variable insurance or other variable amounts payable on death, and, if such determination has been deferred, to defer payment of the death benefit; during any period when: - the New York Stock Exchange is closed or trading on the New York Stock Exchange is restricted as determined by the SEC; or - the SEC declares that an emergency exists as a result of which the sale or determination of investment results is not reasonably practicable; or - the SEC, by order, permits deferral for the protection of the Company's policyowners.
Deferral of Payments. The Executive shall have the right to elect to defer any lump sum payments received by the Executive pursuant to this Section 5 under the terms and conditions of the Company's nonqualified deferred compensation plan.
Deferral of Payments. During any period when: - the sale of securities or the determination of a Division Index is not reasonably practicable because
(i) the New York Stock Exchange is closed, or
(ii) conditions are such that, under rules and regulations adopted by the SEC, trading is deemed to be restricted or an emergency is deemed to exist, or - the SEC, by order, permits deferral for the protection of the Company's policyowners; the Company reserves the right: - to defer determination of cash values and payment of the cash value; - to defer payment of loan; - to defer determination of a change in the Variable Insurance Amount or other variable amounts payable on death, and, if such determination has been deferred, to defer payment of any portion of the Death Benefit equal to the Variable Insurance Amount or such other variable amounts; and - if payment of all or part of the Death Benefit is deferred, to defer application of the Death Benefit to a payment plan under Section 12.
Deferral of Payments. After receipt of a Notice of withdrawal from you, we may defer payment for a withdrawal for the period permitted by law but not for more than six (6) months.
Deferral of Payments. The Committee may agree at any time, upon request of the Participant, to defer the date on which any payment under an Award will be made.
