Common use of Exclusive Benefit and Reversion of Sponsor Contributions Clause in Contracts

Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided under applicable law, no part of the Trust may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the Plan or their beneficiaries or the reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the Plan.

Appears in 6 contracts

Samples: Trust Agreement (Zions Bancorporation, National Association /Ut/), Trust Agreement (Zions Bancorporation /Ut/), Trust Agreement (Progressive Corp/Oh/)

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Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided under applicable law, no part of the Trust may be used for, or diverted to, purposes other than the exclusive benefit of the Participants participants in the Plan or their beneficiaries or the reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the Plan.

Appears in 5 contracts

Samples: Trust Agreement (California Microwave Inc), Trust Agreement (Providian Financial Corp), Trust Agreement (Polaris Industries Inc/Mn)

Exclusive Benefit and Reversion of Sponsor Contributions. Except as -------------------------------------------------------- provided under applicable law, no part of the Trust may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the Plan or their beneficiaries or the reasonable expenses of Plan administration. Disbursements from the forfeiture account may be made as directed by the Sponsor to offset contributions or reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the Plan.

Appears in 2 contracts

Samples: Trust Agreement (FMC Technologies Inc), Trust Agreement (FMC Corp)

Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided under applicable law, no part of the Trust may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the Plan or their beneficiaries or the reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the Plan.

Appears in 2 contracts

Samples: Qualified Trust Agreement (Truist Financial Corp), Trust Agreement (Oceaneering International Inc)

Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided under applicable law, no part of the Trust allocable to a Plan may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the Plan or their beneficiaries or the reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the Plan.

Appears in 1 contract

Samples: Trust Agreement (Hawaiian Electric Industries Inc)

Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided under applicable law, no part of the Trust allocable to a Plan may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the a Plan or their beneficiaries or the reasonable expenses of Plan administration. No assets of the Plan shall revert prior to the Sponsor, except as specifically permitted by satisfaction of all liabilities with respect to the terms of the PlanParticipants and their beneficiaries.

Appears in 1 contract

Samples: Trust Agreement (Lyondell Chemical Co)

Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided under applicable law, no part of the Trust may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the Plan or their beneficiaries or to pay the reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the Plan.

Appears in 1 contract

Samples: Trust Agreement

Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided under applicable law, no part of the Trust allocable to a Plan may be used for, or diverted to, purposes other than the exclusive benefit of the Participants participants in the Plan or their beneficiaries or prior to the reasonable expenses satisfaction of Plan administrationall liabilities with respect to the participants and their beneficiaries. No assets of Disbursements from the Plan shall revert to forfeiture account may be made, as directed by the Sponsor, except as specifically permitted by the terms of the Planto offset contributions or legitimate Plan expenses.

Appears in 1 contract

Samples: Trust Agreement (FMC Corp)

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Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided under applicable law, no part of the Trust may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the Plan or their beneficiaries or the reasonable expenses of Plan administration. Disbursements from the forfeiture account may be made as directed by the Sponsor to offset contributions or reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the Plan.

Appears in 1 contract

Samples: Trust Agreement (FMC Technologies Inc)

Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided under applicable lawlaw or as provided in the Plan, no part of the Trust may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the Plan or their beneficiaries or the reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the Plan.

Appears in 1 contract

Samples: Trust Agreement (Omnicom Group Inc)

Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided permitted under ERISA and/or other applicable law, no part of the Trust allocable to a Plan may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the Plan or their beneficiaries or the reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the PlanPlan and ERISA.

Appears in 1 contract

Samples: Master Trust Agreement (Hawaiian Electric Industries Inc)

Exclusive Benefit and Reversion of Sponsor Contributions. Except as provided under applicable lawlaw and the terms of the Plan as communicated by the Sponsor to the Trustee, no part of the Trust may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the Plan or their beneficiaries or the reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the Plan.

Appears in 1 contract

Samples: Administrative Services Agreement (Claiborne Liz Inc)

Exclusive Benefit and Reversion of Sponsor Contributions. (a) Except as provided under applicable law, no part of the Trust may be used for, or diverted to, purposes other than the exclusive benefit of the Participants in the Plan or their beneficiaries or the reasonable expenses of Plan administration. No assets of the Plan shall revert to the Sponsor, except as specifically permitted by the terms of the Plan.

Appears in 1 contract

Samples: Trust Agreement (Expedia, Inc.)

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