Effect of Adoption Sample Clauses

Effect of Adoption. Upon the adoption of the Plan by an adopting business entity as heretofore provided, the adopting business entity shall be an Employer hereunder in all respects. Each business entity listed in Schedule I and each other adopting business entity, as a condition of continued participation in the Plan, delegates to the Company the sole power and authority: (a) To terminate the Plan (except that each adopting business entity shall have the power to terminate the Plan as applied to it); to amend the Plan (except that each adopting business entity shall have the power to amend the Plan as applied to it by establishing a successor plan to which assets and liabilities may be transferred as provided in Section 10.3); (b) To appoint, remove and accept the resignation of a Trustee; to appoint or remove members of the Benefits Administration Committee and the Retirement Investment Committee; and to act as the plan administrator; (c) To direct the Trustee to return an Employer contribution that was made by mistake or which is not deductible;

Effect of Adoption. If University, in its sole discretion, adopts the Committee recommendation after the evaluation process described in Section 1.3(a), the parties shall observe the following procedures: (i) University shall inform the Committee of such acceptance in writing. (ii) University shall negotiate, within the Committee’s recommended parameters, on behalf of CHOC and UCIMC with the identified Payor. (iii) If University secures terms from the Payor that are within the parameters recommended by the Committee, University shall execute the agreements — on behalf of UCIMC and on behalf of CHOC — with the Payor. The Payor will maintain separate contracts with CHOC and UCIMC. (iv) If University determines, in its discretion, that University cannot secure terms from the Payor within the parameters recommended by the Committee: (A) University shall provide the Committee with the terms of the most recent proposal from the Payor. (B) The Committee shall then have ten days to determine whether the proposal is acceptable. (C) If the Committee unanimously agrees to recommend acceptance the proposal, University shall execute Agreements — on behalf of UCIMC and on behalf of CHOC — with the Payor. The Payor will maintain separate contracts with CHOC and UCIMC. (D) If the Committee cannot reach consensus within the allotted ten days, each party is free to negotiate independently with the pertinent Payor to secure the best terms it can get with such Payor. (v) If the parties decide to pursue independent negotiations with a given Payor pursuant to Sections 1.3(b)(iv)(D) of this Agreement, they shall exchange no further information regarding their contracting efforts with the Payor unless they receive approval from their respective legal counsel.

Effect of Adoption. An Affiliate that adopts the Plan is thereafter an Employer with respect to its eligible Employees. Appendix A hereto sets forth a list of Employers, which list may be modified from time to time by the Plan Administrator.

Effect of Adoption. An Affiliated Employer which adopts the Plan and the Trust Agreement is thereafter a Participating Company with respect to its Eligible Employees.

Effect of Adoption. Upon the adoption of this Plan by an adopting business entity as heretofore provided, the adopting business entity shall be an Employer hereunder in all respects. Each adopting business entity (and each other business entity joining the principal employer in the execution of the Adoption Agreement), as a condition of continued participation in this Plan, delegates to the principal employer the sole power and authority: