Common use of DISCONTINUANCE OF PARTICIPATION Clause in Contracts

DISCONTINUANCE OF PARTICIPATION. Any Participating Employer shall be permitted to discontinue or revoke its participation in the Plan. At the time of any such discontinuance or revocation, satisfactory evidence thereof and of any applicable conditions imposed shall be delivered to the Trustee. The Trustee shall thereafter transfer, deliver and assign Contracts and other Trust Fund assets allocable to the Participants of such Participating Employer to such new Trustee as shall have been designated by such Participating Employer, in the event that it has established a separate plan qualified under Code section 401(a) for its Employees; provided, however, that no such transfer shall be made if the result is the elimination or reduction of any Protected Benefit. If no successor is designated, the Trustee shall retain such assets for the Employees of said Participating Employer pursuant to the provisions of such separate Trust Agreement as shall be in effect. In no such event shall any part of the corpus or income of the Trust as it relates to such Participating Employer be used for or delivered for purposes other than the exclusive benefit of the Employees (and their Beneficiaries) of such Participating Employer.

DISCONTINUANCE OF PARTICIPATION. Any Except in the case of a standardized Plan, any Participating Employer that is an Affiliated Employer shall be permitted to discontinue or revoke its participation in the PlanPlan at any time. At the time of any such discontinuance or revocation, satisfactory evidence thereof and of any applicable conditions imposed shall be delivered to the Trustee. The Trustee shall thereafter transfer, deliver and assign Contracts and other Trust Fund assets allocable to the Participants of such Participating Employer to such new Trustee trustee or custodian as shall have been designated by such Participating Employer, in the event that it has established a separate qualified retirement plan qualified under Code section 401(a) for its Employees; employees provided, however, that no such transfer shall be made if the result is the elimination or reduction of any Protected Benefit"Section 411(d)(6) protected benefits" as described in Section 8.1(e). If no successor is designated, the Trustee shall retain such assets for the Employees of said Participating Employer pursuant to the provisions of such separate Trust Agreement as shall be in effectArticle VII hereof. In no such event shall any part of the corpus or income of the Trust Fund as it relates to such Participating Employer be used for or delivered for diverted to purposes other than for the exclusive benefit of the Employees (and their Beneficiaries) employees of such Participating Employer.

DISCONTINUANCE OF PARTICIPATION. Any Participating Employer shall be permitted to discontinue or revoke its participation in the Plan. At the time of any such discontinuance or revocation, satisfactory evidence thereof and of any applicable conditions imposed shall be delivered to the Trustee. The Trustee shall thereafter transfer, deliver and assign Contracts and other Trust Fund assets allocable to the Participants of such Participating Employer to such new Trustee as shall have been designated by such Participating Employer, in the event that it has established a separate pension plan qualified under Code section 401(a) for its Employees; Employees provided, however, that no such transfer shall be made if the result is the elimination or reduction of any Protected Benefit"Section 411(d) (6) protected benefits" in accordance with Section 8.1(c). If no successor is designated, the Trustee shall retain such assets for the Employees of said Participating Employer pursuant to the provisions of such separate Trust Agreement as shall be in effectArticle VII hereof. In no such event shall any part of the corpus or income of the Trust as it relates to such Participating Employer be used for or delivered for diverted to purposes other than for the exclusive benefit of the Employees (and their Beneficiaries) of such Participating Employer.

DISCONTINUANCE OF PARTICIPATION. Any Participating Employer shall be permitted to discontinue or revoke its participation in the Plan. At the time of any such discontinuance or revocation, satisfactory evidence thereof and of any applicable conditions imposed shall be delivered to the Trustee. The Trustee shall thereafter transfer, deliver and assign Contracts and other Trust Fund assets allocable to the Participants of such Participating Employer to such new Trustee as shall have been designated by such Participating Employer, in the event that it has established a separate plan qualified under Code section 401(a) for its Employees; provided, however, that no such transfer shall be made if the result is the elimination or reduction of any Protected Benefit. If no successor is designated, the Trustee shall retain such assets for the Employees of said Participating Employer pursuant to the provisions of Article XII hereof, or the provisions of such separate Trust Agreement as shall be in effecteffect (as provided in the Adoption Agreement). In no such event shall any part of the corpus or income of the Trust as it relates to such Participating Employer be used for or delivered for purposes other than the exclusive benefit of the Employees (and their Beneficiaries) of such Participating Employer.

DISCONTINUANCE OF PARTICIPATION. Any Participating Employer shall be permitted to discontinue or revoke its participation in the Plan. At the time of any such discontinuance or revocation, satisfactory evidence thereof and of any applicable conditions imposed shall be delivered to the Trustee. The Trustee shall thereafter transfer, deliver and assign Contracts and other Trust Fund assets allocable to the Participants of such Participating Employer to such new Trustee as shall have been designated by such Participating Employer, in the event that it has established a separate pension plan qualified under Code section 401(a) for its Employees; provided, provided however, that no such transfer shall be made if the result is the elimination or reduction of any Protected Benefit"Section 411(d)(6) protected benefits" in accordance with Section 9.1(c). If no successor is designated, the Trustee shall retain such assets for the Employees of said Participating Employer pursuant to the provisions of such separate Trust Agreement as shall be in effectArticle VII hereof. In no such event shall any part of the corpus or income of the Trust as it relates to such Participating Employer be used for or delivered for diverted to purposes other than for the exclusive benefit of the Employees (and their Beneficiaries) of such Participating Employer.

DISCONTINUANCE OF PARTICIPATION. Any Participating Employer shall be permitted to discontinue or revoke its participation in the Plan. At the time of any such discontinuance or revocation, satisfactory evidence thereof and of any applicable conditions imposed shall be delivered to the Trustee. The Trustee shall thereafter transfer, deliver and assign Contracts and other Trust Fund assets allocable to the Participants of such Participating Employer to such new Trustee as shall have been designated by such Participating Employer, in the event that it has established a separate pension plan qualified under Code section 401(a) for its Employees; Employees provided, however, that no such transfer shall be made if the result is the elimination or reduction of any Protected Benefit"Section 411(d)(6) protected benefits" in accordance with Section 8.01(c). If no successor is designated, the Trustee shall retain such assets for the Employees of said Participating Employer pursuant to the provisions of such separate Trust Agreement as shall be in effectArticle VII hereof. In no such event shall any part of the corpus or income of the Trust as it relates to such Participating Employer be used for or delivered diverted for purposes other than for the exclusive benefit of the Employees (and their Beneficiaries) of such Participating Employer.