Elective Withdrawal. In the event that either the amount owed, based on the Plan of Allocation, to individuals in the Settlement Class that timely and validly opt out of the Settlement Class exceeds 20% of the Settlement Fund Amount, or the number of individuals in the Settlement Class that timely and validly opt out of the Settlement Class exceeds 15% of the headcount of the Settlement Class (either one in the alternative constituting the “Threshold”), then the Settling Defendants, in their sole discretion, shall have the unilateral, unconditional option to withdraw from the Settlement Agreement and render the Settlement Agreement null and void, and Paragraph 35 of the Settlement Agreement shall apply as to the Settling Defendants.
Elective Withdrawal. During the Initial Contribution Period, Minera Andes may elect to withdraw as a Member from the Company and terminate the Agreement upon 30 days' written notice to Pegasus; provided, however, that such elective withdrawal shall not relieve Minera Andes of its obligation to fund and satisfy its share of liabilities to third persons arising out of the Operations conducted prior to Minera Andes' withdrawal and shall not relieve Minera Andes from 100% liability for all contracts unfulfilled at the time of Minera Andes' withdrawal and that were entered into by Minera Andes. Minera Andes shall return the property reclaimed in good condition and in compliance with applicable laws and regulations. If Minera Andes has not incurred qualifying expenditures of $200,000 as of the date of withdrawal, Minera Andes shall pay any shortfall to Pegasus in cash; provided that Minera Andes shall have no obligation to make such payment if Pegasus has breached its title representations and warranties set forth in Section 10.2 and has not cured such default within the time allowed under Section 10.5. Upon withdrawal under this Section 3.2.1 or under 3.2.2 below, Minera Andes shall convey to Pegasus any Assets held in Minera Andes' name or in the name of the Company, including, without limitation, Claims and water rights and all information relating to the Property. Minera Andes' obligations under Article 12 and Section 17.10 shall survive withdrawal.
Elective Withdrawal. Subject to the approval of the BMC Software, Inc. Employee Benefits Committee (the “Committee”) in its sole discretion, a Participant may elect at any time while employed by the Employer, by following the election procedure prescribed by the Committee, to withdraw as a benefit all or a portion of his pre-2005 deferral account (the “Deferral Account”), subject to a withdrawal penalty of 15% of the amount of any such withdrawal (an “Elective Withdrawal”). Upon any such Elective Withdrawal, the 15% withdrawal penalty will be forfeited to the Employer. Further, upon any such withdrawal, such Participant’s participation in the Plan will terminate as of the end of the Plan Year in and no further deferrals will be made under the Plan on behalf of such Participant until the first day of the Plan Year that is at least twelve months after the date of such withdrawal. If a Participant’s Deferral Account is deemed to be invested in more than one investment option, any Elective Withdrawal will be distributed pro rata from each investment option in which such Deferral Account is deemed to be invested. If a Participant’s Deferral Account contains one or more pre-2005 dated deferral subaccounts (as defined and referred to in the prior Plan document as “Dated Deferral Subaccounts”), then such withdrawal will be considered to have been distributed, first, from the Dated Deferral Subaccount with respect to which the earliest installment distribution would be made, then, from the Dated Deferral Subaccount with respect to which the next earliest installment distribution would be made, and continuing in such manner until all of such Dated Deferral Subaccounts have been exhausted or the entire amount of the Elective Withdrawal has been distributed.
