Common use of Discontinuance of Benefits Clause in Contracts

Discontinuance of Benefits. If at any time (i) any Business Entity, or a person claiming to be a creditor of any Business Entity alleges in writing to the Trustee that any Business Entity has become Insolvent, or (ii) the Trustee is served with any order, process or paper from a court of competent jurisdiction to the effect that a Business Entity is Insolvent, the Trustee shall give notice thereof to the Company and, if applicable, the allegedly Insolvent Business Entity, and shall discontinue Benefit payments under this Trust Agreement on account of services performed for the deemed Insolvent Business Entity, shall hold the Trust assets attributable to the deemed Insolvent Business Entity for the benefit of the Insolvent Business Entity’s Bankruptcy Creditors, and shall resume payment of Benefits to a Participant on account of services performed for the allegedly Insolvent Business Entity under this Trust Agreement in accordance with Article V only upon: (a) in the case of clause (ii) above, the receipt of an order of a court of competent jurisdiction authorizing or requiring such payment, and (b) in the case of clause (i) above, receipt of written notice from the Company that the deemed Insolvent Business Entity is not Insolvent. The Board of Directors of a Business Entity, and the Company’s Treasurer shall be obligated to give the Trustee prompt written notice if the Business Entity becomes Insolvent, with the same consequences as provided in the preceding sentence. If payment of Benefits has been discontinued pursuant to clause (i) of the second preceding sentence, the Board of Directors of the deemed Insolvent Business Entity, and the Company’s Treasurer, shall be obligated to give the Trustee prompt written notice in the event the deemed Insolvent Business Entity is not Insolvent, and such notice shall be treated as notice from the Company for purposes of the second preceding sentence. The Trustee shall not be liable to anyone in the event Benefit payments are discontinued pursuant to this Section 9.02. If the Trustee discontinues payment of Benefits pursuant to this Section 9.02 and subsequently resumes such payment, to the extent the Trust Fund is sufficient for such purpose, the first payment to a Participant following such discontinuance shall include an aggregate amount equal to the payments which would have been made to such Participant under this Trust Agreement but for this Section 9.02, as shall be determined by the Committee or if Section 5.01(b) applies, by the Trustee. No interest shall be due or payable with respect to any such payments in arrears.

Discontinuance of Benefits. If at any time (i) any Business Entity, the Company or a person claiming to be a creditor of any Business Entity the Company alleges in writing to the Trustee that any Business Entity the Company has become Insolvent, or (ii) the Trustee is served with any order, process or paper from a court of competent jurisdiction to the effect that a Business Entity the Company is Insolvent, the Trustee shall give notice thereof to the Company andCompany, if applicable, the allegedly Insolvent Business Entity, and shall discontinue Benefit payments under this Trust Agreement on account of services performed for the deemed Insolvent Business EntityAgreement, shall hold the Trust assets attributable to the deemed Insolvent Business Entity for the benefit of the Insolvent Business EntityCompany’s Bankruptcy Creditors, and shall resume payment of Benefits to a Participant on account of services performed for the allegedly Insolvent Business Entity under this Trust Agreement in accordance with Article V only upon: (a) in the case of clause (ii) above, the receipt of an order of a court of competent jurisdiction authorizing or requiring such payment, and (b) in the case of clause (i) above, receipt of written notice from the Company that the deemed Insolvent Business Entity Company is not Insolvent. The Board of Directors of a Business Entity, the Company and the Company’s Treasurer shall be obligated to give the Trustee prompt written notice if the Business Entity Company becomes Insolvent, with the same consequences as provided in the preceding sentence. If payment of Benefits has been discontinued pursuant to clause (i) of the second preceding sentence, the Board of Directors of the deemed Insolvent Business EntityCompany, and the Company’s Treasurer, shall be obligated to give the Trustee prompt written notice in the event the deemed Insolvent Business Entity Company is not Insolvent, and such notice from such Board of Directors or Treasurer shall be treated as notice from the Company for purposes of the second preceding sentence. The Trustee shall not be liable to anyone in the event Benefit payments are discontinued pursuant to this Section 9.02. If the Trustee discontinues payment of Benefits pursuant to this Section 9.02 and subsequently resumes such payment, to the extent the Trust Fund is sufficient for such purpose, the first payment to a Participant following such discontinuance shall include an aggregate amount equal to the payments which would have been made to such Participant under this Trust Agreement but for this Section 9.02, as shall be determined by the Committee or if Section 5.01(b) applies, by the Trustee. No interest shall be due or payable with respect to any such payments in arrears.

Discontinuance of Benefits. If at any -------------------------- time (i) any Business Entity, the Company or a person claiming to be a creditor of any Business Entity the Company alleges in writing to the Trustee that any Business Entity the Company has become Insolvent, or (ii) the Trustee is served with any order, process or paper from a court of competent jurisdiction to the effect that a Business Entity the Company is Insolvent, the Trustee shall give notice thereof to the Company andCompany, if applicable, the allegedly Insolvent Business Entity, and shall discontinue Benefit payments under this Trust Agreement on account of services performed for the deemed Insolvent Business EntityAgreement, shall hold the Trust assets attributable to the deemed Insolvent Business Entity for the benefit of the Insolvent Business Entity’s Company's Bankruptcy Creditors, and shall resume payment of Benefits to a Participant on account of services performed for the allegedly Insolvent Business Entity under this Trust Agreement in accordance with Article V only upon: (a) in the case of clause (ii) above, the receipt of an order of a court of competent jurisdiction authorizing or requiring such payment, and (b) in the case of clause (i) above, receipt of written notice from the Company that the deemed Insolvent Business Entity Company is not Insolvent. The Board of Directors of a Business Entity, the Company and the Company’s 's Treasurer shall be obligated to give the Trustee prompt written notice if the Business Entity Company becomes Insolvent, with the same consequences as provided in the preceding sentence. If payment of Benefits has been discontinued pursuant to clause (i) of the second preceding sentence, the Board of Directors of the deemed Insolvent Business EntityCompany, and the Company’s 's Treasurer, shall be obligated to give the Trustee prompt written notice in the event the deemed Insolvent Business Entity Company is not Insolvent, and such notice from such Board of Directors or Treasurer shall be treated as notice from the Company for purposes of the second preceding sentence. The Trustee shall not be liable to anyone in the event Benefit payments are discontinued pursuant to this Section 9.02. If the Trustee discontinues payment of Benefits pursuant to this Section 9.02 and subsequently resumes such payment, to the extent the Trust Fund is sufficient for such purpose, the first payment to a Participant following such discontinuance shall include an aggregate amount equal to the payments which would have been made to such Participant under this Trust Agreement but for this Section 9.02, as shall be determined by the Committee or if Section 5.01(b) applies, by the Trustee. No interest shall be due or payable with respect to any such payments in arrears.

Discontinuance of Benefits. If at any -------------------------- time (i) any Business Entity, or a person claiming to be a creditor of any Business Entity alleges in writing to the Trustee that any Business Entity has become Insolvent, or (ii) the Trustee is served with any order, process or paper from a court of competent jurisdiction to the effect that a Business Entity is Insolvent, the Trustee shall give notice thereof to the Company and, if applicable, the allegedly Insolvent Business Entity, and shall discontinue Benefit payments under this Trust Agreement on account of services performed for the deemed Insolvent Business Entity, shall hold the Trust assets attributable to the deemed Insolvent Business Entity for the benefit of the Insolvent Business Entity’s 's Bankruptcy Creditors, and shall resume payment of Benefits to a Participant on account of services performed for the allegedly Insolvent Business Entity under this Trust Agreement in accordance with Article V only upon: (a) in the case of clause (ii) above, the receipt of an order of a court of competent jurisdiction authorizing or requiring such payment, and (b) in the case of clause (i) above, receipt of written notice from the Company that the deemed Insolvent Business Entity is not Insolvent. The Board of Directors of a Business Entity, and the Company’s 's Treasurer shall be obligated to give the Trustee prompt written notice if the Business Entity becomes Insolvent, with the same consequences as provided in the preceding sentence. If payment of Benefits has been discontinued pursuant to clause (i) of the second preceding sentence, the Board of Directors of the deemed Insolvent Business Entity, and the Company’s 's Treasurer, shall be obligated to give the Trustee prompt written notice in the event the deemed Insolvent Business Entity is not Insolvent, and such notice shall be treated as notice from the Company for purposes of the second preceding sentence. The Trustee shall not be liable to anyone in the event Benefit payments are discontinued pursuant to this Section 9.02. If the Trustee discontinues payment of Benefits pursuant to this Section 9.02 and subsequently resumes such payment, to the extent the Trust Fund is sufficient for such purpose, the first payment to a Participant following such discontinuance shall include an aggregate amount equal to the payments which would have been made to such Participant under this Trust Agreement but for this Section 9.02, as shall be determined by the Committee or if Section 5.01(b) applies, by the Trustee. No interest shall be due or payable with respect to any such payments in arrears.