Failure of Plan to Follow Procedures. If the Plan fails to follow the claims procedures required by this Section 7.1, a Claimant shall be deemed to have exhausted the administrative remedies available under the Plan and shall be entitled to pursue any available remedy under ERISA section 502(a) on the basis that the Plan has failed to provide a reasonable claims procedure that would yield a decision on the merits of the claim.
Appears in 29 contracts
Samples: Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc), Supplemental Executive Retirement Plan (Community Financial Corp /Md/), Supplemental Executive Retirement Plan (Community Financial Corp /Md/)
Failure of Plan to Follow Procedures. If the Plan Sponsor fails to follow the claims procedures procedure required by this Section 7.1Article, a Claimant shall be deemed to have exhausted the administrative remedies available under the this Plan and shall be entitled to pursue any available remedy under ERISA section Section 502(a) of ERISA on the basis that the this Plan has failed to provide a reasonable claims procedure that would yield a decision on the merits of the claim.
Appears in 5 contracts
Samples: Supplemental Compensation Agreement (Valley Commerce Bancorp), Supplemental Compensation Agreement (Valley Commerce Bancorp), Supplemental Compensation Agreement (Valley Commerce Bancorp)
Failure of Plan to Follow Procedures. If the Plan Corporation fails to follow the claims procedures procedure required by this Section 7.1Article, a Claimant shall be deemed to have exhausted the administrative remedies available under the this Plan and shall be entitled to pursue any available remedy under ERISA section Section 502(a) of ERISA on the basis that the this Plan has failed to provide a reasonable claims procedure that would yield a decision on the merits of the claim.
Appears in 2 contracts
Samples: Key Employee Deferred Compensation Plan (Regan Holding Corp), Master Plan Agreement (Regan Holding Corp)
Failure of Plan to Follow Procedures. If the Plan fails to follow the claims procedures procedure required by this Section 7.1Article, a Claimant shall be deemed to have exhausted the administrative remedies available under the Plan and shall be entitled to pursue any available remedy under ERISA section Section 502(a) on the basis that the Plan has failed to provide a reasonable claims procedure that would yield a decision on the merits of the claim.
Appears in 2 contracts
Samples: Deferred Compensation Master Agreement (Oceanfirst Financial Corp), Deferred Compensation Master Agreement (Oceanfirst Financial Corp)
Failure of Plan to Follow Procedures. If the Plan fails to follow the claims procedures required by this Section 7.18.3, a Claimant shall be deemed to have exhausted the administrative remedies available under the Plan and shall be entitled to pursue any available remedy under ERISA section 502(a) on the basis that the Plan has failed to provide a a. reasonable claims procedure that would yield a decision on the merits of the claim.
Appears in 1 contract
