Common use of Facility of Payment Clause in Contracts

Facility of Payment. If the Administrator determines, on the basis of medical reports or other evidence satisfactory to the Administrator, that the recipient of any benefit payments under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the Administrator may direct the Employer to disburse such payments to a person or institution designated by a court which has jurisdiction over such recipient or a person or institution otherwise having the legal authority under State law for the care and control of such recipient. The receipt by such person or institution of any such payments therefore, and any such payment to the extent thereof, shall discharge the liability of the Employer, the Plan and the Administrator for the payment of benefits hereunder to such recipient.

Appears in 14 contracts

Samples: Supplemental Investment Savings Plan (Ingram Micro Holding Corp), Supplemental Investment Savings Plan (Ingram Micro Holding Corp), Adoption Agreement (BSB Bancorp, Inc.)

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Facility of Payment. If In the event the Administrator determines, on the basis of medical reports or other evidence satisfactory to the Administrator, that the recipient of any benefit payments under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the Administrator may direct the Employer Trustee to disburse such payments to a person or institution designated by a court which has jurisdiction over such recipient or a person or institution otherwise having the legal authority under State state law for the care and control of such recipient. The receipt by such person or institution of any such payments shall be complete acquittance therefore, and any such payment to the extent thereof, shall discharge the liability of the Employer, the Plan and the Administrator Trust for the payment of benefits hereunder to such recipient.

Appears in 13 contracts

Samples: Defined Contribution Plan (Profit Sharing/401(k) Plan) (Alcoa Inc.), Defined Contribution Plan (Profit Sharing/401(k) Plan) (Alcoa Inc.), Defined Contribution Plan (Profit Sharing/401(k) Plan) (Alcoa Inc.)

Facility of Payment. If In the event the Administrator determines, on the basis of medical reports or other evidence satisfactory to the Administrator, that the recipient of any benefit payments under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the Administrator may direct the Employer Trustee to disburse such payments to a person or institution designated by a court which has jurisdiction over such recipient or a person or institution otherwise having the legal authority under State law for the care and control of such recipient. The receipt by such person or institution of any such payments shall be complete acquittance therefore, and any such payment to the extent thereof, shall discharge the liability of the Employer, the Plan and the Administrator Trust for the payment of benefits hereunder to such recipient.

Appears in 5 contracts

Samples: Adoption Agreement (Adtran Inc), Adoption Agreement (Fair Isaac & Company Inc), Corporate Plan for Retirement 100 Sm the Profit Sharing/401(k) Plan (Acadia Pharmaceuticals Inc)

Facility of Payment. If the Administrator determines, on the basis of medical reports or other evidence satisfactory to the Administrator, that the recipient of any benefit payments under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the Administrator may direct the Employer to disburse such payments to a person or institution designated by a court which has jurisdiction over such recipient or a person or institution otherwise having the legal authority under State law for the care and control of such recipient. The receipt by such person or institution of any such payments therefore, and any such payment to the extent thereof, shall discharge the liability of the Employer, the Plan and the Administrator Employer for the payment of benefits hereunder to such recipient.

Appears in 4 contracts

Samples: Adoption Agreement (Computer Associates International Inc), Adoption Agreement (Computer Associates International Inc), Adoption Agreement (Ca, Inc.)

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Facility of Payment. If the Administrator determines, on the basis of medical reports or other evidence satisfactory to the Administrator, that the recipient of any benefit payments under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the Administrator may direct the Employer to disburse such payments to a person or institution designated by a court which has jurisdiction over such recipient or a person or institution otherwise having the legal authority under State law for the care and control of such recipient. The receipt by such person or institution of any such payments therefore, and any such payment to the extent thereof, shall discharge the liability of the Employer, the Plan and the Administrator Administrative Committee for the payment of benefits hereunder to such recipient.

Appears in 1 contract

Samples: Deferred Bonus Plan (Davita Inc)

Facility of Payment. If In the event the Administrator determines, on the ------------------- basis of medical reports or other evidence satisfactory to the Administrator, that the recipient of any benefit payments under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the Administrator may direct the Employer Trustee to disburse such payments to a person or institution designated by a court which has jurisdiction over such recipient or a person or institution otherwise having the legal authority under State law for the care and control of such recipient. The receipt by such person or institution of any such payments shall be complete acquittance therefore, and any such payment to the extent thereof, shall discharge the liability of the Employer, the Plan and the Administrator Trust for the payment of benefits hereunder to such recipient.

Appears in 1 contract

Samples: Profit Sharing/401(k) Plan (Impac Group Inc /De/)

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