Entity Election Events Sample Clauses

Entity Election Events. Upon the occurrence of any of the following events with respect to an Owner ("Terminated Owner"): (a) the voluntary termination of employment of an Owner for reasons other than Retirement or Disability, (b) insolvency or any filing for relief under applicable bankruptcy laws by an Owner or an involuntary petition for bankruptcy filed by a creditor of the Terminated Owner or by a bankruptcy trustee, (c) seizure of Interests of an Owner by a creditor, (d) involuntary termination of employment of an Owner for Cause, (e) competing, directly or indirectly, with the Entity, (f) an Owner’s disclosure of confidential information concerning the Entity to any of its competitors or to any agent or Affiliate thereof, as determined in arbitration, or (g) Presumptive Disability (individually, "Entity Election Event", and collectively, "Entity Election Events"), and for a period of one hundred eighty (180) days, except as provided below in this Section 2.03 (“Seizure Option Period”), the Entity shall have the right and option (but not the obligation) to purchase, which it shall exercise in writing by giving notice to the Terminated Owner as provided herein, in the case of insolvency or xxxxxxx of Interests of a Terminated Owner and/or his Spouse by a creditor, any and all of the Interests owned by the Terminated Owner, his Representative and/or his Spouse ("Seizure Option"), and in all other Entity Election Events enumerated in this Section 2.03, all, but not less than all (“Entity Option"), of the Interests owned by a Terminated Owner, his Representatives and his Spouse, and the Terminated Owner, his Representative and/or his Spouse shall Transfer all of his Interests under the Entity Option and up to all of his Interests pursuant to the Seizure Option, at the price determined pursuant to Section pursuant to the terms and conditions contained in this Agreement.
Sample 1
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Related to Entity Election Events

  • Compensation Events 44.1 The following are Compensation Events unless they are caused by the Contractor:

  • Termination Events This Agreement may, by notice given prior to or at the Closing, be terminated:

  • Qualified HSA Funding Distribution If you are eligible to contribute to a health savings account (HSA), you may be eligible to take a one-time tax-free HSA funding distribution from your IRA and directly deposit it to your HSA. The amount of the qualified HSA funding distribution may not exceed the maximum HSA contribution limit in effect for the type of high deductible health plan coverage (i.e., single or family coverage) that you have at the time of the deposit, and counts toward your HSA contribution limit for that year. For further detailed information, you may wish to obtain IRS Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans.

  • Flip-in Event (a) Subject to Subsection 3.1(b) and Section 5.1, in the event that prior to the Expiration Time a Flip-in Event shall occur, each Right shall constitute, effective at the close of business on the tenth Trading Day after the Share Acquisition Date, the right to purchase from the Company, upon exercise thereof in accordance with the terms hereof, that number of Shares having an aggregate Market Price on the date of consummation or occurrence of such Flip-in Event equal to twice the Exercise Price for an amount in cash equal to the Exercise Price (such right to be appropriately adjusted in a manner analogous to the applicable adjustment provided for in Section 2.3 in the event that after such consummation or occurrence, an event of a type analogous to any of the events described in Section 2.3 shall have occurred).

  • Dissolution Event If there is a Dissolution Event before the termination of this Safe, the Investor will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Dissolution Event.

  • Contribution Eligibility You are eligible to make a regular contribution to your Xxxx XXX, regardless of your age, if you have compensation and your MAGI is below the maximum threshold. Your Xxxx XXX contribution is not limited by your participation in an employer-sponsored retirement plan, other than a Traditional IRA.

  • Establishment of Qualified Settlement Fund 5.1 No later than five (5) business days after entry of the Preliminary Order, the Escrow Agent shall establish an escrow account. The Settling Parties agree that the escrow account is intended to be, and will be, an interest-bearing Qualified Settlement Fund within the meaning of Treas. Reg. § 1.468B-1. In addition, the Escrow Agent timely shall make such elections as necessary or advisable to carry out the provisions of this Paragraph 5.1, including the “relation-back election” (as defined in Treas. Reg. § 1.468B-1) back to the earliest permitted date. Such elections shall be made in compliance with the procedures and requirements contained in such regulations. It shall be the responsibility of the Escrow Agent to prepare and deliver, in a timely and proper manner, the necessary documentation for signature by all necessary parties, and thereafter to cause the appropriate filing to occur.

  • Qualified Settlement Fund The Administrator shall establish a settlement fund that meets the requirements of a Qualified Settlement Fund (“QSF”) under US Treasury Regulation section 468B-1.

  • What if I Make a Contribution for Which I Am Ineligible or Change My Mind About the Type of IRA to Which I Wish to Contribute? Prior to the due date (including extensions) for filing your tax return, you may elect to “recharacterize” amounts that you contributed to an IRA during the year by making a recharacterization of the contributed amount and earnings. Thus, for example, if you contribute amounts to a Xxxx XXX and later determine that you are ineligible to make a Xxxx XXX contribution for the year, you may at any time prior to the tax return due date for the year (including extensions) make a recharacterization of the contributions and earnings to a Traditional IRA.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

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