Distributions to Beneficiaries. Section 7.1 All Trust Property shall be distributed by the Trustee to the Beneficiaries, as beneficiaries under the Trust solely in accordance with Section 7.2, on one or more distribution dates as determined by the Trustee.
Section 7.2 The Trustee shall not be obligated to make any distributions of Trust Property prior to July 5, 1999. As promptly as practicable following the acquisition by the Trust of the Additional HomeFed Stock under the Purchase Agreement, the Trust shall distribute the HomeFed Stock Interest (and any other shares of HomeFed Stock that may then be Trust Property) and any cash then held as Trust Property to the Beneficiaries; provided, however, that the distribution of such shares of HomeFed Stock from the Trust to the Beneficiaries shall be pursuant to an effective registration statement under the Securities Act, unless the Trustee shall have received an opinion of counsel to the effect that no such registration statement is required for such distribution. In the event that the shares of Additional HomeFed Stock are not purchased by July 31, 1999 and the Purchase Agreement is then terminated, the Trustee as promptly as practicable shall distribute to the Beneficiaries the Trust Property then owned by the Trust; provided, however, that the distribution of shares of the Owned HomeFed Stock from the Trust to the Beneficiaries shall be pursuant to an effective registration statement under the Securities Act, unless the Trustee shall have received an opinion of counsel to the effect that no such registration statement is required for such distribution. No certificates representing fractional shares of HomeFed Stock will be distributed by the Trustee to the Beneficiaries. In lieu of any fractional shares of HomeFed Stock, (the "Fractional Shares"), the Trustee shall, on behalf of all holders of such Fractional Shares, (i) determine the number of shares of HomeFed Stock that would otherwise have been distributed as Fractional Shares, (ii) sell such shares at the then prevailing market price, and (iii) determine the portion, if any, of the net proceeds of such sale to which each holder of a Fractional Share interest is entitled, by multiplying the amount of the aggregate net proceeds of the sale of the Factional Shares, by a fraction, the numerator of which is the amount of the Fractional Share to which such holder of a Fractional Share is entitled, and the denominator of which is the aggregate amount of Fractional Shares to which all holder...
Distributions to Beneficiaries. Notwithstanding any other provision of ------------------------------ this Agreement, the Trust may distribute to any Person that is a beneficiary of the Trust from time to time the number of TCI Shares that are beneficially owned by such Person, provided that such Person complies with the provisions of Section 3.6.
Distributions to Beneficiaries. Each Beneficiary shall be entitled to receive on a distribution date its share of Trust Cash distributed by the Litigation Trustee to Beneficiaries based on such Beneficiary's Beneficiary Sharing Ratio in effect at the time of the distribution, provided that (i) the first $30,000,000 of Trust Cash made available for distribution (the "Initial Distribution Amount") shall be allocated and payable only to the Non-Credit Facility Beneficiaries, and (ii) each Non-Credit Facility Beneficiary shall receive its share of the Initial Distribution Amount based on its respective Non-Credit Facility Beneficiary Sharing Ratio in effect at the time of distributions of any part or all of the Initial Distribution Amount. For the avoidance of doubt, the Credit Facility Beneficiaries will not be entitled to receive any portion of the Initial Distribution Amount. Each Beneficiary, including each Credit Facility Beneficiary, shall be entitled to receive its share of distributions to Beneficiaries in excess of the Initial Distribution Amount based on such Beneficiary's Beneficiary Sharing Ratio in effect at the time of the distribution.
Distributions to Beneficiaries. In the event that a Participant shall die with a credit balance in such Participant’s Vacation Account, upon receipt of proof of death, the Trustees shall distribute the credit balance to the Beneficiary, by check mailed to the last known address of the Beneficiary in the records of the Plan.
Distributions to Beneficiaries. The Trustee shall pay to each Beneficiary from the capital of the Trust Fund an amount, representing his or her Common Experience Payment, calculated in accordance with Section 5.02 of the Settlement Agreement.
Distributions to Beneficiaries. On each applicable Distribution Date, the Liquidating Trustee will distribute the Liquidating Trust Assets that have been converted to Cash to each Beneficiary after payment of or reserve for the items described in Section
Distributions to Beneficiaries. If a Participant's Deferral Account has not been fully distributed at the time of the Participant's death, the unpaid balance will be paid to the Participant's Beneficiary (as defined below) at the time the amount would have been paid to the Participant. However, the Compensation Committee, in its sole discretion, may direct such benefits be paid at an earlier date. The term "
Distributions to Beneficiaries. Subject to subsection 11.4, the following rules shall apply if a Participant dies while any portion of his Accounts remains undistributed:
(a) If the Participant dies before benefit payments to him have commenced, the balance of his Accounts, less any outstanding loan balance distributable in accordance with paragraph 10.1(j), shall be distributed as soon as practicable after his death to his Beneficiary (as defined in subsection 11.5) in a lump sum; provided, however, that if such balance is greater than $5,000 ($3,500 on or before August 31, 1998), the Beneficiary may delay commencement of benefit payments hereunder by electing a later Distribution Date, subject to the provisions of paragraph 11.1(c).
(b) If a Participant dies after benefit payments to him have commenced, the balance, if any, of his Accounts shall continue to be distributed to his Beneficiary in accordance with the method of distribution selected by the Participant; provided, however, that the Beneficiary may elect to have such balance paid in a lump sum payment as soon as practicable after the Participant’s death.
Distributions to Beneficiaries. Subject to subsection 11.4, if a Participant dies before the vested portion of his Account has been distributed, such balance (less any outstanding loan balance distributable in accordance with subsection 10.3) shall be distributed as soon as practicable after the Accounting Date coincident with or next following the Participant’s death, to his Beneficiary (as defined in subsection 11.4) in a lump sum payment.
Distributions to Beneficiaries. The Trustees, in their absolute discretion, may pay any income and principal of the Trust to the Eligible Beneficiaries in accordance with the terms of this Trust. Absent clear and convincing evidence of bad faith, the Trustees’ decisions as to amounts to be distributed will be final.
