Distribution Commencement Date Sample Clauses

Distribution Commencement Date. The Distribution Commencement Date is the date an Employee commences distributions from the Plan. If a Participant commences distribution with respect to a portion of his/her Account Balance, a separate Distribution Commencement Date applies to any subsequent distribution. If distribution is made in the form of an annuity, the Distribution Commencement Date is the first day of the first period for which annuity payments are made.
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Distribution Commencement Date. Except as limited in paragraphs (a) and (b) above, the Trustee shall commence benefit payments for all claims authorized for payment in a Plan Year no later than 60 days following the end of the applicable Plan Year or as soon thereafter as is practicable, but in no event later than 180 days after the end of the applicable Plan Year, except where such delay is required by special circumstances. Such special circumstances include the transfer, merger and/or consolidation of assets of this Plan with another plan, liquidation of assets or surrender of insurance contracts, the partial or full termination of the Plan, or irregularities discovered in the books of the Plan as a result of an audit or investigation of the Plan, or any other unusual circumstances that would cause a prudent man to delay allocating earnings and losses in the Trust. Such benefit payments shall be delayed until the Named Fiduciaries agree that the records and books of the Plan are in sufficient order and in accordance with generally accepted accounting practices so that benefit payments can fairly and accurately be made. In such matters, the decision of the Named Fiduciaries shall be final, binding and conclusive. Furthermore, unless a Participant elects otherwise, and subject to the limitations in paragraphs (a) and (b), payment of his benefits under this Plan shall be made or commence no later than the 60th day after the later of: (1) the end of the year of his 65th birthday; or (2) the end of the year in which his employment terminates. If benefits due from a Participant's Accounts are paid as of the date of entitlement to such benefits, any further amount which may be due from a Participant's Accounts shall be paid to the recipient no later than 60 days following the end of the Plan Year in which Separation from Service with the Employer occurs. Notwithstanding the preceding, if a Participant elects, he or she shall receive a distribution as soon as administratively practicable after such Participant requests a distribution pursuant to Section 7.07(a).
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Distribution Commencement Date. For purposes of paragraph (b)(ii) above, required distributions are considered to commence on the date distributions are required to begin to the surviving spouse under such paragraph. However, if distributions start prior to the applicable date in the preceding sentence on an irrevocable basis (except for acceleration) under an annuity contract meeting the requirements of Section 1.401(a)(9)-6T of the Temporary Income Tax Regulations or successor provisions, then required distributions are considered to commence on the annuity starting date.
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Distribution Commencement Date. (a) Subject to (b), (c) and 7.3 and 7.7 below, the Committee shall set the starting date of distribution from the Regular, Optional and other Accounts of the Participant for as soon as administratively practicable following the date or events set forth in the adoption agreement. The adoption agreement may also specify that different Accounts of a single Participant, or portions of the Participant's Accounts, are subject to different distribution starting dates. (b) Distribution of the accounts of a Participant shall begin within 60 days after the latest of: (1) the last day of the Plan Year in which he attained age 65; (2) the last day of the Plan Year in which he dies or terminates his employment with the Company; and (3) the tenth anniversary of the year in which the Participant commenced participation in the Plan. A Participant may elect, in writing, to defer the date distribution is otherwise required to begin under this Paragraph, if such deferral is in compliance with (c) below. The failure of a Participant and spouse to consent to a distribution while a benefit is immediately distributable under Plan section 7.7 is deemed to be an election to defer commencement of payment of any benefit sufficient to satisfy this section. (c) Distribution of the accounts of a Participant shall begin no later than that Participant's required beginning date. Generally, each Participant's required beginning date is April 1 of the calendar year following the calendar year in which the Participant attains age 70 and 1/2. For Participant's who attain age 70 and 1/2 before January 1, 1988, the required beginning date (I) if the Participant is not a Five Percent Owner is the April 1 of the calendar year following the calendar year in which the later of retirement or attainment of age 70 and 1/2 occurs; and (II) if the Participant is a Five Percent Owner during any year beginning after December 31, 1979 is April 1 of the calendar year following the calendar year in which the Participant attains age 70 and 1/2 or the earlier of the calendar year with or within which ends the Plan Year in which the Participant becomes a Five Percent Owner or the calendar year in which the Participant retires. The required beginning date of a Participant who is not a Five Percent Owner who attains age 70 and 1/2 during 1988 and who has not retired as of January 1, 1989, is April 1, 1990. An individual is treated as a Five Percent Owner under this subsection if that individual meets the requirem...
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Distribution Commencement Date 
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Related to Distribution Commencement Date

  • Term Commencement Date A. The date that Sublandlord delivers possession of the Additional Subleased Premises to Subtenant shall be the “Delivery Date.” It is presently anticipated, but not guaranteed, that Sublandlord will deliver possession of the Additional Subleased Premises to Subtenant on or before July 18, 2015 (the “Estimated Delivery Date”). Sublandlord agrees to use commercially reasonable efforts to obtain timely possession of the Additional Subleased Premises from the current occupant. If delivery of possession is delayed or does not otherwise occur by the Estimated Delivery Date, this Second Amendment shall not be void or voidable (except as set forth below), nor shall Sublandlord be liable to Subtenant for any loss or damage resulting therefrom. Notwithstanding anything to the contrary set forth in this Second Amendment, in the event Sublandlord is unable to deliver the Additional Subleased Premises to Subtenant by January 1, 2016, Subtenant shall have the right to terminate this Second Amendment by providing Sublandlord with written notice within ten (10) business days of such date. B. Commencing on the Delivery Date and continuing thereafter until the Additional Subleased Premises Commencement Date (as defined below), Subtenant may access the Additional Subleased Premises solely for the purpose of preparing the Additional Subleased Premises for Subtenant’s occupancy (including the installation of telecommunications wiring, cabling and furniture), without the payment of Base Rent or Additional Rent, provided that all other provisions of the Sublease shall be in full force and effect. C. Subject to the provisions of Section 4.A above, the Term of the Sublease for the Additional Subleased Premises (“Additional Subleased Premises Term”) shall commence on the earlier of (i) forty-five (45) days following the Delivery Date, or (ii) the date that Subtenant commences business operations from the Additional Subleased Premises (the “Additional Subleased Premises Commencement Date”). The Additional Subleased Premises Term shall expire simultaneously with the expiration of the Term for the Original Subleased Premises under the Original Sublease. D. Following the Additional Subleased Premises Commencement Date, Sublandlord may prepare and deliver to Subtenant a commencement letter in the form of Exhibit B attached hereto (the “Commencement Letter”), confirming the Additional Subleased Premises Commencement Date, the Base Rent payable for the Additional Subleased Premises Term and certain other sublease terms with respect to the Additional Subleased Premises. Subtenant shall acknowledge and confirm the Additional Subleased Premises Commencement Date and other sublease terms by executing a copy of the Commencement Letter and returning it to Sublandlord within ten (10) business days after Subtenant’s receipt of the Commencement Letter. If Subtenant fails to sign and return the Commencement Letter to Sublandlord within such ten (10) business day period, the Commencement Letter as sent by Sublandlord shall be deemed to have correctly set forth the Additional Subleased Premises Commencement Date and the other matters addressed in the Commencement Letter. Sublandlord’s failure to send the Commencement Letter shall have no effect on the Additional Subleased Premises Commencement Date.

  • Service Commencement Date The date the Transmission Provider begins to provide service pursuant to the terms of an executed Service Agreement, or the date the Transmission Provider begins to provide service in accordance with Section 15.3 or Section 29.1 under the Tariff.

  • Rent Commencement Date The "Rent Commencement Date" shall be the date that Tenant first uses the Premises or any portion thereof for any purpose permitted under this lease. In the event this lease pertains to a building or building interior finish to be constructed, the "Rent Commencement Date" shall be the date upon which the buildings and other improvements erected and to be erected upon the premises shall have been substantially completed in accordance with the plans and specifications described on Exhibit "C" attached hereto and incorporated herein by reference, provided however, that if Landlord shall be delayed in such substantial completion as a result of: (i) Tenant's failure to agree to plans, specifications, and cost estimates, within a reasonable period of time; (ii) Tenant's request for materials, finishes or installations other than Landlord's standard; (iii) Tenant's changes in plans; the commencement date and the payment of rent hereunder shall be accelerated by the number of days of such delay, and provided further that if Landlord cannot substantially complete the premises as a result of any events (i) through (iii) above, Landlord may as its election complete so much of Landlord's work as may be practical under the circumstances and, by written notice to Tenant, establish the commencement date as the date of such partial completion, subject to any applicable accelerations due to delays resulting from events (i) through (iii) above. Taking possession by Tenant shall be deemed conclusively to establish that said buildings and other improvements have been completed in accordance with the plans and specifications and that the premises are in good and satisfactory condition, as of when possession was so taken. Tenant acknowledges that no representations as to the repair of the premises have been made by Landlord, unless such are expressly set forth in the lease. After such "Rent Commencement Date" Tenant shall, upon demand, execute and deliver to Landlord a letter of acceptance of delivery of the premises. In the event of any dispute as to substantial completion of work performed, execute or required to be performed by Landlord, the certificate of Landlord's architect or general contractor shall be conclusive.

  • Commencement Date The Subcontractor shall be permitted to begin the Services on ______________________, 20____ (“Commencement Date”).

  • Lease Commencement Date The earlier to occur of (i) the date upon which Tenant first commences to conduct business in the Premises, and (ii) the later to occur of (A) November 1, 2018 and (B) the date upon which the Premises are Ready for Occupancy (as that term is defined in Section 5.1 of the Tenant Work Letter attached hereto as Exhibit B (the “Tenant Work Letter”)).

  • Date of Commencement This Agreement has commenced and shall be deemed to have commenced on and with effect from the date mentioned at the beginning of this Agreement.

  • Starting Date Unless a specific (fixed) starting date is duly justified and agreed upon during the preparation of the Grant Agreement, the project will start on the first day of the month following the entry info force of the Grant Agreement (NB : entry into force = signature by the Commission). Please note that if a fixed starting date is used, you will be required to provide a detailed justification on a separate note.

  • Planning Period All observations must be conducted openly and with full knowledge of the employee.

  • Distribution Compliance Period The Purchaser agrees not to resell, pledge or transfer any Purchased Shares within the United States or to any U.S. Person, as each of those terms is defined in Regulation S, during the 40 days following the Closing Date.

  • Start Date The parental leave must begin no later than 52 weeks after the day the child is born or comes into the custody, care and control of the parent for the first time for provincially or federally regulated employees. The parental leave of an employee who takes a pregnancy leave must begin when the pregnancy leave ends unless the child has not yet come into the care and control of the parent for the first time.

Most Referenced Clauses

Most Referenced Definitions