Failure to Repay; Exceptions Sample Clauses

Failure to Repay; Exceptions. (i) If a Participant fails to make two months worth of loan payments, the Plan Administrator will send the Participant a notice indicating that the Participant is delinquent in repaying the loan. Upon the earliest of a Participant's: 49 60 (1) failure to make up any delinquent loan payments during a legally permissible grace period provided by the Company following receipt of the notice described in the preceding sentence; or
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Failure to Repay; Exceptions. (i) If a Participant fails to make two months worth of loan payments, the Plan Administrator will send the Participant a notice indicating that the Participant is delinquent in repaying the loan. Upon the earliest of a Participant's: (1) failure to make up any delinquent loan payments during a legally permissible grace period provided by the Company following receipt of the notice described in the preceding sentence; or (2) Separation from Service; the Participant's entire loan balance will become immediately due and payable. (ii) Notwithstanding (g)(i)(2) above, a Participant who: (1) terminates employment upon or after attaining age 45 with ten (10) Years of Vesting Service and with a combined age and Years of Vesting Service totaling at least 65; (2) becomes covered by the Employer's long-term disability plan; (3) takes an unpaid Authorized Leave of Absence; (4) effective October 1, 1998, becomes eligible, on or after such date, to receive job elimination benefits under the Company's severance and salary continuation benefits plan or similar benefits under an agreement with the Employer; or (5) if the Company so elects with respect to all Participants continuing employment with a particular successor company after a sale or outsourcing, terminates employment in connection with such sale our outsourcing and continues employment with the successor company; may elect to pay the entire loan balance as described in (g)(i) above, or to make monthly payments to repay the loan by sending personal checks to the Plan Administrator or by assigning a portion of his or her retirement benefits to the Plan Administrator to the extent permitted on a uniform basis for all similarly situated Participants by the Plan Administrator, consistent with the requirements of Section 401(a)(13) of the Code and Section 206(d) of ERISA.
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Related to Failure to Repay; Exceptions

  • Failure to Remedy If the Funder has provided the HSP with an opportunity to remedy the breach, and: the HSP does not remedy the breach within the time period specified in the Notice; it becomes apparent to the Funder that the HSP cannot completely remedy the breach within the time specified in the Notice or such further period of time as the Funder considers reasonable; or the HSP is not proceeding to remedy the breach in a way that is satisfactory to the Funder, then the Funder may immediately terminate this Agreement by giving Notice of termination to the HSP.

  • Failure to Return Failure of the employee to return pursuant to the date determined in this Section will constitute grounds for termination by the School District unless the School District and the employee mutually agree to an extension of the leave.

  • Failure to Pursue Remedies The failure of any party to seek redress for violation of, or to insist upon the strict performance of, any provision of this Agreement shall not prevent a subsequent act, which would have originally constituted a violation, from having the effect of an original violation.

  • Security Exceptions Nothing in this Agreement shall be construed: (a) to require a Party to furnish or allow access to any information the disclosure of which it determines to be contrary to its essential security interests; or (b) to prevent any Party from taking any action which it considers necessary for the protection of its essential security interests: (i) relating to fissionable and fusionable materials or the materials from which they are derived; (ii) relating to the supply of services as carried out directly for the purpose of provisioning a military establishment; (iii) relating to the traffic in arms, ammunition and implements of war and to such traffic in other goods and materials as is carried on directly or indirectly for the purpose of supplying a military establishment; and (iv) taken in time of war or other emergency in international relations; or (c) to prevent any Party from taking any action in pursuance of its obligations under the United Nations Charter for maintenance of international peace and security.

  • Remedy for failure to insure If the Concessionaire shall fail to effect and keep in force all insurances for which it is responsible pursuant hereto, the Authority shall have the option to either keep in force any such insurances, and pay such premia and recover the costs thereof from the Concessionaire, or in the event of computation of a Termination Payment, treat an amount equal to the Insurance Cover as deemed to have been received by the Concessionaire.

  • Failure to Return from Leave Any employee who has been granted a leave and who, for any reason, fails to return to work at the expiration of said leave shall be considered as having resigned his/her position with the County, and the position shall thereupon be declared vacated, unless the employee is on leave status protected under state/federal laws or he/she has furnished evidence that he/she was unable to return to work by reason of sickness, physical disability, or other legitimate reason beyond his/her control.

  • Failure to Report No compensation shall be granted for the total period of standby if the employee is unable to report for duty when required.

  • Failure to Fulfill Conditions In the event that either of the parties hereto determines that a condition to its respective obligations to consummate the transactions contemplated hereby cannot be fulfilled on or prior to the termination of this Agreement, it will promptly notify the other party.

  • Limitations and Exceptions Members shall confine limitations or exceptions to exclusive rights to certain special cases which do not conflict with a normal exploitation of the work and do not unreasonably prejudice the legitimate interests of the right holder.

  • Failure to Elect; Events of Default If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a Eurocurrency Borrowing prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid as provided herein, (i) if such Borrowing is denominated in Dollars, at the end of such Interest Period such Borrowing shall be converted to a Syndicated Eurocurrency Borrowing of the same Class having an Interest Period of one month, and (ii) if such Borrowing is denominated in a Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, (i) any Eurocurrency Borrowing denominated in Dollars shall, at the end of the applicable Interest Period for such Eurocurrency Borrowing, be automatically converted to an ABR Borrowing and (ii) any Eurocurrency Borrowing denominated in a Foreign Currency shall not have an Interest Period of more than one month’s duration.

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