Common use of Employer’s Plan Provisions Shall Control Clause in Contracts

Employer’s Plan Provisions Shall Control. If contributions are being made to the Account pursuant to an employee benefit plan sponsored by the Employer that covers the Participant or the Plan Document, if any, to the extent the Plan Administrator has received notification from the Employer, in a manner acceptable to the Plan Administrator, that any provisions of this Agreement are inconsistent with the provisions of such employee benefit plan, the provisions of the Employer’s employee benefit plan shall control, provided that: A. Such provisions of the Employer’s employee benefit plan or Plan Document are not contrary to the rules and regulations under Section 403(b)(7) of the Code or the provisions of ERISA, if applicable; B. Such provisions of the Employer’s employee and/or Plan Administrator benefit plan or Plan Document do not impose any additional responsibilities or duties on the Master Custodial Administration Agreement Administrator or Custodian without their prior written consent; and C. The Employer has delivered the most recent copy of such employee benefit plan or Plan Document to the Plan Administrator and Master Custodial Administration Agreement Administrator. The Custodian shall be fully entitled to rely on the Employer’s or Plan Administrator’s representation of the contents of the applicable Plan Document and shall be under no duty to make inquiry or to determine the accuracy of the Employer’s or Plan Administrator’s instructions.

Appears in 2 contracts

Samples: Client Services Agreement, Client Services Agreement

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Employer’s Plan Provisions Shall Control. If contributions are being made to the Account pursuant to an employee benefit plan sponsored by the Employer that covers the Participant or the Plan Document, if any, to the extent the Plan Administrator has received notification from the Employer, in a manner acceptable to the Plan Administrator, that any provisions of this Agreement are inconsistent with the provisions of such employee benefit plan, the provisions of the Employer’s employee benefit plan shall control, provided that: A. Such provisions of the Employer’s employee benefit plan or Plan Document are not contrary to the rules and regulations under Section 403(b)(7) of the Code or the provisions of ERISA, if applicable; B. Such provisions of the Employer’s employee and/or Plan Administrator benefit plan or Plan Document do not impose any additional responsibilities or duties on the Master Custodial Administration Agreement Administrator or Custodian without their prior written consent; andconsent;and C. The Employer has delivered the most recent copy of such employee benefit plan or Plan Document to the Plan Administrator and Master Custodial Administration Agreement Administrator. The Custodian shall be fully entitled to rely on the Employer’s or Plan Administrator’s representation of the contents of the applicable Plan Document and shall be under no duty to make inquiry or to determine the accuracy of the Employer’s or Plan Administrator’s instructionsAdministrator’sinstructions.

Appears in 1 contract

Samples: Client Services Agreement

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Employer’s Plan Provisions Shall Control. If contributions are being made to the Account pursuant to an employee benefit plan sponsored by the Employer that covers the Participant or the Plan Document, if any, to the extent the Plan Administrator has received notification from the Employer, in a manner acceptable to the Plan Administrator, that any provisions of this Agreement are inconsistent with the provisions of such employee benefit plan, the provisions of the Employer’s employee benefit plan shall control, provided that: A. Such provisions of the Employer’s employee benefit plan or Plan Document are not contrary to the rules and regulations under Section 403(b)(7457(b)(7) of the Code or the provisions of ERISA, if applicable; B. Such provisions of the Employer’s employee and/or Plan Administrator benefit plan or Plan Document do not impose any additional responsibilities or duties on the Master Custodial Administration Agreement Administrator or Custodian without their prior written consent; and C. The Employer has delivered the most recent copy of such employee benefit plan or Plan Document to the Plan Administrator and Master Custodial Administration Agreement Administrator. The Custodian shall be fully entitled to rely on the Employer’s or Plan Administrator’s representation of the contents of the applicable Plan Document and shall be under no duty to make inquiry or to determine the accuracy of the Employer’s or Plan Administrator’s instructionsAdministrator’sinstructions.

Appears in 1 contract

Samples: Client Services Agreement

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