Mandatory Contributions. Any Participant nondeductible contributions eligible for matching contributions are mandatory contributions. The Advisory Committee will maintain a separate accounting, pursuant to Section 4.06 of the Plan, to reflect the Participant's Accrued Benefit derived from his mandatory contributions. The Employer, under Adoption Agreement Section 4.05, may prescribe special distribution restrictions which will apply to the Mandatory Contributions Account prior to the Participant's Separation from Service. Following his Separation from Service, the general distribution provisions of Article VI apply to the distribution of the Participant's Mandatory Contributions Account.
Mandatory Contributions. Immediately upon commencing participation in the Savings Plan, each participant shall contribute on a pretax basis through payroll deduction, five percent (5%) of his or her Pensionable Earnings as defined in section A (9) of this Article and the Town shall contribute an amount equal to five percent (5%) of the participant’s Pensionable Earnings to the participant’s Savings Plan account.
Mandatory Contributions. If elected below, a Participant will be required to make a Mandatory Contribution (as defined in Section 1.76 of the Plan) to the Plan equal to the amount specified under this subsection 6-6. Any amounts contributed pursuant to this subsection 6-6 will be treated as Employer Contributions under the Plan. Such contributions and earnings thereon will be 100% vested at all times.
Mandatory Contributions. Subject to the provisions of this Agreement:
Mandatory Contributions a. Mandatory After-Tax Contributions are permitted.
Mandatory Contributions. (a) If the Board has determined that the Company has, or is at immediate risk of having, (i) an inability to pay its debts as they become due, (ii) inadequate capital to carry on its business, or (iii) aggregate liabilities that exceeds it aggregate assets, then in each case of the foregoing clauses (i), (ii) and (iii), the Board may provide written notice to the Owners of the amount of such deficiency (the “Capital Deficiency”). Within fifteen (15) days (the “Contribution Period”) after receiving such notice from the Board of a Capital Deficiency, each Owner shall make a cash contribution (a “Capital Contribution”) to the Company equal to such Owner’s Ownership Percentage multiplied by the Capital Deficiency, which amount shall be utilized by the Company as required for then existing operations and obligations. Any determination to provide written notice to the Owners of a Capital Deficiency shall be made by Majority Approval.
Mandatory Contributions. Any Participant nondeductible contributions eligible for matching
Mandatory Contributions. As reasonably determined by the Board of Managers from time-to-time to satisfy the capital needs (or other needs) of the Company, the Board of Managers may provide written notice to each Member requiring each Member to make additional Capital Contributions on such terms and conditions as the Board of Managers may reasonably determine in order to satisfy capital needs (or other needs) of the Company consistent with the Business Plan, applicable Budget, or other transaction approved by the Members or Board of Managers pursuant to the terms of this Agreement; provided, however, that any such demand shall be made to the Members pro rata according to their relative Percentage Interests at the time such request is made and on the same terms and conditions for all Members. The Members shall make such Capital Contributions in cash by wire transfer of immediately available funds, no later than ten (10) business days after such notice. Notwithstanding the foregoing, the mandatory Capital Contributions for all Members in aggregate (including the Initial Capital Contributions) shall not exceed the Mandatory Capital Contributions Cap.
Mandatory Contributions. After the Acquisition Date, each Member shall make additional cash Capital Contributions pro rata in accordance with such Member’s Percentage Interest (without receiving additional Membership Interests) for the following:
Mandatory Contributions. An employee who is age 30 or over and has 1 year of service is automatically enrolled into the RC Plan with a 3.5% payroll deduction based on annual salary. This pre- tax contribution is matched at 100% by the museum and cannot be directed to the Xxxx option.
