Fund for Exclusive Benefit of Participants. All assets of the Trust Fund shall be held hereunder for the exclusive benefit of the Participants and their Beneficiaries for the purpose of distributing to such Participants and Beneficiaries the corpus and income of the Trust Fund in accordance with the provisions of Article V hereof. No part of the Trust Fund corpus or income shall be used for or diverted to purposes other than for the exclusive benefit of Participants and Beneficiaries under the Plan, whether by operation of law or natural termination of contracts, by power of revocation or amendment, by the happening of a contingency, by collateral arrangement or by any other means; provided that the Employer hereby reserves the right to amend or revoke the Plan at any time as provided in Articles IX and X hereof. To the extent permitted by the Code and applicable rules and regulations thereunder and notwithstanding anything herein to the contrary, upon the Employer's request, a contribution which was made by a mistake of fact, or conditioned upon the initial qualification of the Plan or upon the deductibility of the contribution under Code Section 404, shall be returned to the Employer within one year after the payment of the contributions, the denial of the qualified status of the Plan or the disallowance of the deduction for such contribution (to the extent disallowed), whichever is applicable.
Fund for Exclusive Benefit of Participants. The Fund is for the exclusive benefit of Participants and other persons who may become entitled to benefits hereunder, and may also be used to pay any reasonable expenses arising from the operation of the Plan. Prior to the satisfaction of all liabilities for benefits provided hereunder, no contribution made to the Fund will be refunded to the Employer unless a contribution was made:
(A) by reason of a mistake of fact,
(B) conditionally upon an initial favorable Internal Revenue Service determination and such a determination is not received, or
(C) conditionally upon being allowed as a tax deduction and such deduction is disallowed. For purposes of this Section 11.2, all contributions to the Plan made by the Employer shall be deemed to be conditioned on the deductibility by the Employer of such contributions under Section 404 of the Code unless such contributions are made for the purpose of satisfying the minimum funding standards of Section 412 of the Code. Such refund must be made within one year, under (A) from the date the contribution was made and, under (B) and (C) from the date of disallowance of tax qualification or tax deduction. All such refunds will be limited in amount, circumstances and timing to the provisions of Section 403(c) of ERISA and no such refund shall be made if, solely on account of such refund, the Plan would cease to be qualified pursuant to Section 401(a) of the Code.
