Common use of No Reversion to Employers Clause in Contracts

No Reversion to Employers. In no event shall any Employer directly or indirectly receive any refund of contributions made by it to the Trust (except in the case of a bona fide erroneous payment or overpayment of contributions, as permitted under ERISA) nor shall an Employer directly or indirectly participate in the disposition of the Trust, including, without limitation, any reserves of the Trust, or receive any benefits from the Trust.

Appears in 4 contracts

Samples: Agreement and Declaration of Trust, Agreement and Declaration of Trust, Agreement and Declaration of Trust

AutoNDA by SimpleDocs

No Reversion to Employers. In no event shall any Employer directly or indirectly receive any refund of contributions made by it to the Trust Fund (except in the case of a bona fide erroneous payment or overpayment of contributions, as permitted under ERISA) nor shall an Employer directly or indirectly participate in the disposition of the Trust, including, without limitation, any reserves of the Trust, or receive any benefits from the Trust.

Appears in 3 contracts

Samples: Agreement and Declaration of Trust, Agreement and Declaration of Trust, Trust Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!