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IRREVOCABILITY OF ELECTIONS Sample Clauses

IRREVOCABILITY OF ELECTIONS. A Participant may file a written election form with the Administrator before the end of the current Plan Year revising the rate of his contributions or discontinuing such contributions effective as of the first day of the next following Plan Year. The Participant’s Elective Contributions will automatically terminate as of the date his employment terminates. Except as provided in this Section 4.02 and Section 4.03, a Participant’s election under the Plan is irrevocable for the duration of the plan year to which it relates. The exceptions to the irrevocability requirement which would permit a mid-year election change in benefits and the salary reduction amount elected are set out in the Treasury regulations promulgated under Code Section 125, which include the following:
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IRREVOCABILITY OF ELECTIONS. Marathon’s elections as set forth in an Ashland Put Price Election Notice shall be irrevocable upon Ashland’s receipt of such Ashland Put Price Election Notice; provided that at any time prior to the date that is ten Business Days prior to the Closing Date (or applicable Installment Payment Date) Marathon shall have the right to change a previous election to pay part of the Ashland Put Price (or applicable Installment Payment) in Securities to an election to pay a greater portion of or the entire Ashland Put Price (or applicable Installment Payment) in Cash, or to change a previous election to pay the Ashland Put Price in installments to an election to pay the entire or remaining Ashland Put Price on the Closing Date (or applicable Installment Payment Date).
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IRREVOCABILITY OF ELECTIONS. Except as described below (i.e. "Change in Status" and other qualifying events), a Participant's election under the Plan is irrevocable for the duration of the Period of Coverage to which it relates. In other words, unless an exception applies, the Participant may not change any elections for the duration of the Period of Coverage regarding: a. Participation in this Plan; or b. Salary reduction amounts. However, an election to contribute to an HSA can be changed on a prospective basis.
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IRREVOCABILITY OF ELECTIONS. A Participant may file a written election form with the Administrator before the end of the current Plan Year revising the rate of his contributions or discontinuing such contributions effective as of the first day of the next following Plan Year. The Participant’s Elective Contributions will automatically terminate as of the date his employment terminates. Except as provided in this Section 4.02 and Section 4.03, a Participant’s election under the Plan is irrevocable for the duration of the plan year, which relates. The exceptions to irrevocability requirement which would permit a mid-year election change in the benefits and salary reduction amount elected are set out in the Treasury regulations promulgated under Code Section 125, which include the following: (a) Change in Status. A Participant may file change or revoke his election under the Plan upon the occurrence of a valid change in status, in accordance with the Treasury regulations promulgated under Section 125. The change in the status rules do not apply to Medical Expense Reimbursement Plan, or may be modified with respect to the Medical Expense Reimbursement Plan, if the Plan is being administered by a Recordkeeper other then the Employer, unless the Employer and the Recordkeeper otherwise agree in writing. The Employer, in its sole discretion as Administrator, shall determine whether a requested change is on account of and consistent with a change in status, as follows: Change in Employee’s legal marital status, including marriage, divorce, death of spouse, legal separation, and annulment; (1) Change in Employee’s legal martial status, including marriage, divorce, death of a spouse, legal separation, and annulment; (2) Change in number of Dependents, including birth, adoption, placement for adoption, and death; (3) Change in employment status, including employment status change affecting benefit eligibility of the Employee, spouse or Dependent, such as termination of commencement or return from an unpaid leave of absence, and a change in worksite. If the eligibility for either the cafeteria Plan or any underlying benefit plans of Employer of the Employee, spouse or Dependent relies on the employment status of that individual, and there is a change in that individual’s employment status resulting in gaining or losing eligibility under the Plan, this constitutes a valid change in status. This category only applies if benefit eligibility is lost or gained as a result of the event. If an Employee t...
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IRREVOCABILITY OF ELECTIONS. A Participant may complete online enrollment before the end of the current plan year revising the rate of his/her contributions or discontinuing such contributions effective as of the first day of the following Plan Year. The Participant’s Elective Contributions will automatically terminate the date his employment terminates. Except as provided in this Section 4.02 and Section 4.03, a Participant’s election under the Plan is irrevocable for the duration of the Plan Year to which it relates. The exceptions to the irrevocability requirement which would permit a mid-year election change in benefits and the salary reduction amount elected are set out in the Treasury regulations promulgated under Code Section 125, which include the following:
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IRREVOCABILITY OF ELECTIONS. Except as provided in Section 4.03, a Participant may not revoke an election after a Period of Coverage has commenced and make a new election with respect to the remainder of the Period of Coverage as described in the SPD.
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IRREVOCABILITY OF ELECTIONS. A Participant’s election under the Plan is irrevocable for the duration of the Period of Coverage to which it relates unless an exception applies as described in Article VI.
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IRREVOCABILITY OF ELECTIONS. EXCEPTIONS 10 6.1 Irrevocability of Elections 10 6.2 Procedure for Making New Election If Exception to Irrevocability Applies 10 6.3 Change in Status Defined 11 6.4 Exceptions to Irrevocability Rule for All Benefits 12 6.5 Election Modifications Required by Plan Administrator 17 7.1 Plan Administrator 17 7.2 Powers of the Plan Administrator 18 7.3 Reliance on Participant, Tables, etc. 19
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Related to IRREVOCABILITY OF ELECTIONS

  • Irrevocability Except as otherwise provided in this Section 5, a Participant’s Payment Election shall be irrevocable.

  • Revocability This General Release shall not become effective or enforceable until seven (7) calendar days after the Executive signs it. The Executive may revoke his acceptance of this General Release at any time within that seven (7) calendar day period by sending written notice to the Company. Such notice must be received by the Company within the seven (7) calendar day period in order to be effective and, if so received, would void this General Release for all purposes.

  • Irrevocability and Termination Subject to the right of the parties to amend this Agreement as provided in Section 16, this Trust shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the FDEP Secretary, or by the Trustee and the FDEP Secretary, if the Grantor ceases to exist. Upon termination of the Trust, all remaining trust property, less final trust administration expenses, shall be delivered to the Grantor.

  • Irrevocability; Binding Effect The Purchaser hereby acknowledges and agrees that the subscription hereunder is irrevocable by the Purchaser, except as required by applicable law, and that this Subscription Agreement shall survive the death or disability of the Purchaser and shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators, successors, legal representatives, and permitted assigns. If the Purchaser is more than one person, the obligations of the Purchaser hereunder shall be joint and several and the agreements, representations, warranties, and acknowledgments herein shall be deemed to be made by and be binding upon each such person and such person’s heirs, executors, administrators, successors, legal representatives, and permitted assigns.

  • Notification of Election When the Notification of Election was filed with the Commission, it (A) contained all statements required to be stated therein in accordance with, and complied in all material respects with the requirements of, the 1940 Act and (B) did not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

  • Notice of Elections To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election by telephone by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request in a form approved by the Administrative Agent and signed by the Borrower.

  • Continuation of Elections As of the Distribution Date, SpinCo (acting directly or through a member of the SpinCo Group) shall cause the SpinCo SERP to recognize and maintain all elections (including deferral, distribution and investment elections) and beneficiary designations with respect to SpinCo Participants under the RemainCo SERP to the extent such elections or designations are available under the SpinCo SERP until a new election that by its terms supersedes such original election is made by the SpinCo Participant in accordance with applicable law and the terms and conditions of the SpinCo SERP.

  • Applicability of Agreement The Developer agrees that the Lands shall be developed and used only in accordance with and subject to the terms and conditions of this Agreement.

  • Notice of Election To make the election set forth in Section 7.03(A), the Company must send to the Holders, the Trustee and the Paying Agent, before the date on which each Reporting Event of Default first occurs, a notice that (i) briefly describes the report(s) that the Company failed to file with the SEC; (ii) states that the Company is electing that the sole remedy for such Reporting Event of Default consist of the accrual of Special Interest; and (iii) briefly describes the periods during which and rate at which Special Interest will accrue and the circumstances under which the Notes will be subject to acceleration on account of such Reporting Event of Default.

  • Applicability of ISP Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued, the rules of the ISP shall apply to each Letter of Credit.

Most Referenced Clauses

Most Referenced Definitions