Irrevocable Elections Sample Clauses
An irrevocable elections clause establishes that once a party makes a specific choice or election under the contract, that decision cannot be changed or withdrawn. In practice, this means that if a party selects a particular option—such as a method of payment, a jurisdiction for dispute resolution, or a contractual right—they are bound by that choice for the duration of the agreement. This clause ensures certainty and finality in contractual decisions, preventing parties from reversing their positions and thereby reducing the risk of disputes or delays caused by indecision or strategic changes.
Irrevocable Elections. The elections under this paragraph (f) are irrevocable and are effective only for the taxable year for which they are made. In apply- ing the preceding sentence to elections under this paragraph (f), an election to terminate the taxable year under sec- tion 1377(a)(2) or § 1.1368–1(g)(2) is dis- regarded.
Irrevocable Elections. The Company hereby irrevocably (i) eliminates the right of the Company to elect Physical Settlement as the Settlement Method on any conversion of Notes that occurs on or after the date of this Supplemental Indenture and (ii) elects that, with respect to any Combination Settlement, the Specified Dollar Amount per $1,000 principal amount of the Notes shall be no lower than $1,000.
Irrevocable Elections. An election in a Deferral Election Form to defer Compensation for Plan Year, once made by a Participant, shall be irrevocable. However, a Participant may reallocate his Account among Deferral Crediting Rates on a semi-annual basis by giving notice, in such form as the Committee may prescribe, at least ten (10) days prior to first day of that semi-annual period. The Committee, in its sole and exclusive discretion, may reduce or eliminate Participant Contributions at the written request of a Participant based upon a Hardship and as provided for in Article VII.
Irrevocable Elections. An election in a Deferral Election Form to defer Compensation for Plan Year, once made by a Participant, shall be irrevocable. However, a Participant may reallocate his Account among Deferral Crediting Rates on a semi-annual basis by giving notice, in such form as the Committee may prescribe, at least ten (10) days prior to first day of that semi-annual period. In addition, a Participant may cease Contributions for a Plan Year as of the first day of any new payroll period by giving notice, in such form as the Committee may prescribe, at least ten (10) days prior to first day of that payroll period. The Committee, at its sole and exclusive discretion, may reduce or eliminate Participant Contributions at the written request of a Participant based upon a Hardship as defined in Article VII.
Irrevocable Elections