Mandatory Distribution. If the Participant's Vested Account is not in excess of $5,000 (unless a different amount selected below) as of the date of distribution, the Plan will make a Mandatory Distribution following Severance from Employment.
Mandatory Distribution. The Plan will make a Mandatory Distribution following Separation from Service. (Complete (1) and (2). Choose (3) unless the Employer elects to limit Mandatory Distributions to $1,000 including Rollover Contributions under Elections 35(b)(1)b. and 35(b)(2)b.):
Mandatory Distribution. The Plan will make a Mandatory Distribution following Severance from Employment to the extent permitted by the Investment Arrangement Documentation. Amount limit. The Mandatory Distribution maximum amount is equal to (Choose a., b., or c.; Choose d. if applicable): a. [ ] $5,000.
Mandatory Distribution. The Plan Administrator will distribute the Participant's entire Account.
Mandatory Distribution. If the Participant's Vested Account is not in excess of $ 1,000 as of the date of distribution, the Plan will make a Mandatory Distribution following Severance from Employment. Rollovers in determination of $5,000 threshold. Unless otherwise elected below, amounts attributable to rollover contributions (if any) will be included in determining the $5,000 threshold for timing of distributions, form of distributions or consent rules.
Mandatory Distribution. Except to the extent prohibited or limited by the provisions of Section 6.3(c) below, any other provision herein or applicable law, within thirty (30) days following the completion of the annual federal income tax return of the Company, the Company shall make distributions to the Members pro-rata based on their Relative Membership Interest in an amount equal to each party’s current year tax liability related to such Member’s Membership Interest in the Company (calculated based on each Member’s highest marginal rate); provided, however, that no mandatory distribution shall be made if the Company suffered a loss in the applicable year.
Mandatory Distribution. The Plan Administrator will distribute the Participant’s entire Account. [ ] (3) Hybrid. The Plan Administrator will distribute a Participant’s Account that does not exceed $ and the Participant may elect to receive all or any portion of his/her Account that exceeds $ but that does not exceed $5,000.
Mandatory Distribution. The Plan will make a Mandatory Distribution following Severance from Employment.
Mandatory Distribution. A mandatory distribution is an eligible rollover distribution without the Participant's consent before the Participant attains the later of age 62 or Normal Retirement Age (see paragraph 3.05 (B)). A distribution to a beneficiary is not a mandatory distribution.
Mandatory Distribution. (a) In the event the Trust will hold any Trust Shares at the Trust Expiration Date, irrespective of whether the Trustee has completed an Exchange Offer, the Trustee shall, in accordance with Section 4.6, take all necessary action to facilitate a distribution on or before the Mandatory Distribution Date of all of the Trust Shares held in the Trust to the Grantor Shareholders of record as of the close of business on the Mandatory Record Date (such distribution, a “Mandatory Distribution”).
(b) The Trustee’s obligation to facilitate such Mandatory Distribution shall be subject to the delivery of an officer’s certificate from Grantor to the Trustee certifying that, prior to the Mandatory Distribution Date of such Mandatory Distribution, the following conditions have been satisfied:
(i) an Information Statement shall have been delivered by Grantor to the Grantor Shareholders (or, if the distribution of Trust Shares in the Mandatory Distribution is required to be registered under the Securities Act, a registration statement of ITC has been filed and declared effective with respect to the Trust Shares as provided for under Section 2(b) of the Registration Rights Agreement); and
(ii) if required by the NYSE, an NYSE Additional Listing Application shall have been approved by the NYSE.
(c) The distribution date for the Mandatory Distribution shall be the Trust Expiration Date (the “Mandatory Distribution Date”) and the record date for the Mandatory Distribution shall be the first Business Day that is ten (10) calendar days prior to the Trust Expiration Date (the “Mandatory Record Date”); provided, however, that the Grantor has the sole discretion to fix an earlier record date and distribution date for the Mandatory Distribution; provided, further, however, that Grantor must provide at least ten (10) calendar days’ notice to the Trustee and ITC prior to such record date and that such record date must be (i) on a day the NYSE is open for trading and (ii) between twenty (20) Business Days and ten (10) calendar days prior to the Trust Expiration Date.
