Common use of Manner of Distribution Clause in Contracts

Manner of Distribution. To the extent that no discrimination in value results, any distribution after termination of the Plan may be made, in whole or in part, in cash, in securities or other assets in kind, or in non-transferable annuity contracts, as the Plan Administrator shall determine. All non-cash distributions shall be valued at fair market value as of the date of distribution. Distributions due to the termination or partial termination of the Plan shall be made in accordance with the modes of distribution provided for in the Plan. Except, however, that in the event of the termination of the Plan and liquidation of the Trust, distributions shall only be made in a lump sum unless the Adoption Agreement provides for the purchase of annuities.