Distribution Upon Plan Termination. If permitted under the terms of the Collective Bargaining Agreement for hourly-represented employees and if the Company initiates a termination or partial termination of the Plan, or completely discontinues contributions under the Plan, without establishment of a successor plan, the Administrator may direct the Trustee to:
Distribution Upon Plan Termination. To the extent provided in the Adoption Agreement the full value of a Participant's Accrued Benefit shall be distributed to the Participant (or his Beneficiary) as soon as administratively feasible after the termination of the Plan, provided that neither the Employer nor an Affiliated Employer maintains a successor plan. If the Employer does not elect this option in the Adoption Agreement, the provisions under Section 13.2 of the Plan shall apply.
Distribution Upon Plan Termination. Upon termination, partial termination, or complete discontinuance of contributions, the Administrator shall instruct the Trustee to determine the value of the Trust Fund and to adjust the Participants' Accounts. The Administrator shall thereupon instruct the Trustee whether currently to distribute the entire amount of each Participant's Account required to be fully vested as a result of such termination, partial termination, or discontinuance; or whether to distribute therefrom as if the Plan had continued; or whether currently to distribute the balance of certain of those accounts, and distribute the balance of others as if the Plan had continued; or whether to make distributions after the complete discontinuance of contributions, or termination, or partial termination of the Plan, but prior to the time when distributions would have been made had the Plan continued. The Administrator shall, in all events, exercise its discretion under this section 14.03 in a non-discriminatory manner. Any distribution hereunder shall be made in accordance with the provisions of Article VII as if the Participant had terminated employment. The Trust shall continue in effect until the Trustee shall have completed the distribution of the assets of the Trust Fund, and the accounts of the Trustee have been settled.
Distribution Upon Plan Termination. Upon the termination of the Plan, the Plan Administrator shall direct the distribution of Account Balances to Participants in accordance with the provisions under Section 8 as soon as administratively practicable after termination of the Plan.
Distribution Upon Plan Termination. Upon the termination of the Plan, the Plan Administrator shall direct the distribution of Plan assets to Participants in accordance with the provisions under Section 7. For purposes of applying the provisions of this subsection (b), distribution may be delayed until the Employer receives a favorable determination letter from the IRS as to the qualified status of the Plan upon termination, provided the determination letter request is made within a reasonable period following the termination of the Plan. Until all Plan assets have been distributed from the Plan, the Employer must amend the Plan in order to comply with current laws and regulations and may take any other actions necessary to retain the qualified status of the Plan.
