Insolvency of Sponsor. (a) Trustee shall cease disbursement of funds for payment of benefits to Participants if the Sponsor is Insolvent.
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Samples: Trust Agreement (Barnes Group Inc), Master Trust Agreement (Zions Bancorporation /Ut/), Trust Agreement (Convergys Corp)
Insolvency of Sponsor. (a) Trustee shall cease disbursement of funds for payment of benefits to Participants and their beneficiaries if the Sponsor is Insolvent.
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Samples: Trust Agreement (Globalsantafe Corp)
Insolvency of Sponsor. (a) Trustee shall cease disbursement of funds for payment of benefits to Participants Plan participants and their beneficiaries if the Sponsor is insolvent. Sponsor shall be considered “Insolvent” for purposes of this Trust Agreement if (i) Sponsor is unable to pay its debts as they become due, or (ii) Sponsor is subject to a pending proceeding as a debtor under the United States Bankruptcy Code.
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Insolvency of Sponsor. (a) Trustee shall cease disbursement of funds for payment of benefits to Participants with respect to an Employer if the Employer is Insolvent, and shall cease disbursement of funds for payment of benefits if the Sponsor is Insolvent.
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Insolvency of Sponsor. (a) Trustee shall cease disbursement of funds for payment of benefits to Participants Plan participants and their beneficiaries if the Sponsor is Insolvent. Sponsor shall be considered "Insolvent" for purpose of this Agreement if (i) Sponsor is unable to pay its debts as they become due or (ii) Sponsor is subject to a pending proceeding as debtor under the United States Bankruptcy Code.
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Insolvency of Sponsor. (a) Trustee shall cease disbursement of funds for payment of benefits to Participants and their beneficiaries if the Sponsor is Insolvent. Sponsor shall be considered “Insolvent” for purposes of this Trust Agreement if (i) Sponsor is unable to pay its debts as they become due, or (ii) Sponsor is subject to a pending proceeding as a debtor under the United States Bankruptcy Code.
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Insolvency of Sponsor. (a) The Trustee shall cease disbursement of funds for payment of benefits to Participants if the Sponsor is Insolvent.
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Samples: Trust Agreement (Computer Associates International Inc)
Insolvency of Sponsor. (a) Trustee shall cease disbursement of funds for payment of benefits to Participants and their beneficiaries if the Sponsor is Insolvent. Sponsor shall be considered “Insolvent” for purposes of the Agreement if (i) Sponsor is unable to pay its debts as they become due, or (ii) Sponsor is subject to a pending proceeding as a debtor under the United States Bankruptcy Code.
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