Nondiversion of Assets. In no event shall any part of the corpus or income of the Trust Fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan, except to the extent that assets may be returned to the Employer in accordance with the Plan where the Plan fails to qualify initially under Section 401(a) of the Internal Revenue Code (the “Code”), or where they are attributable to contributions made by mistake of fact or in excess of the deductibility allowed under the Code.
Appears in 9 contracts
Samples: Trust Agreement (Polonia Bancorp), Trust Agreement (First Savings Financial Group Inc), Trust Agreement (Legacy Bancorp, Inc.)
Nondiversion of Assets. In no event shall any part of the corpus or ----------------------- income of the Trust Fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan, except to the extent that assets may be returned to the Employer in accordance with the Plan where the Plan fails to qualify initially under Section 401(a) of the Internal Revenue Code (the “Code”), or where they are attributable to contributions made by mistake of fact or in excess of the deductibility allowed under the Codeconditioned upon their deductibility.
Appears in 3 contracts
Samples: Trust Agreement (Virginia Capital Bancshares Inc), Trust Agreement (Connecticut Bancshares Inc/De), Trust Agreement (Virginia Capital Bancshares Inc)
Nondiversion of Assets. In no event shall any part of the corpus or ----------------------- income of the Trust Fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan, except to the extent that assets may be returned to the Employer in accordance with the Plan where the Plan fails to qualify initially under Section 401(a) of the Internal Revenue Code (the “"Code”"), or where they are attributable to contributions made by mistake of fact or in excess of the deductibility allowed under the Code.
Appears in 3 contracts
Samples: Trust Agreement (South Jersey Financial Corp Inc), Trust Agreement (Massachusetts Fincorp Inc), Trust Agreement (West Essex Bancorp Inc)
Nondiversion of Assets. In no event shall any part of the corpus or income of the Trust Fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan, except to the extent that assets may be returned to the Employer in accordance with the Plan where the Plan fails to qualify initially under Section 401(a) of the Internal Revenue Code of 1986, as amended (the “Code”), or where they are attributable to contributions made by mistake of fact or in excess of the deductibility allowed under the Code.
Appears in 3 contracts
Samples: Trust Agreement (Madison Bancorp Inc), Trust Agreement (First Advantage Bancorp), Trust Agreement (Athens Bancshares Corp)
Nondiversion of Assets. In no event shall any part of the corpus or ---------------------- income of the Trust Fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan, except to the extent that assets may be returned to the Employer in accordance with the Plan where the Plan fails to qualify initially under Section 401(a) of the Internal Revenue Code (the “"Code”"), or where they are attributable to contributions made by mistake of fact or in excess of the deductibility allowed under the Code.
Appears in 2 contracts
Samples: Trust Agreement (West Essex Bancorp Inc), Trust Agreement (Security Financial Bancorp Inc)
Nondiversion of Assets. In no event shall any part of the corpus or income of the Trust Fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan, except to the extent that assets may be returned to the Employer Employers in accordance with the Plan where the Plan fails to qualify initially under Section section 401(a) of the Internal Revenue Code (the “Code”), or where they are attributable to contributions made by mistake of fact or in excess of the deductibility allowed under the Codeconditioned upon their deductibility.
Appears in 1 contract
Nondiversion of Assets. In no event shall any part of the corpus or income of the Trust Fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan, except to the extent that assets may be returned to the Employer in accordance with the Plan where the Plan fails to qualify initially under Section 401(a) of the Internal Revenue Code of 1986, as amended (the “"Code”"), or where they are attributable to contributions made by mistake of fact or in excess of the deductibility allowed under the Codeconditioned upon their deductibility.
Appears in 1 contract
Nondiversion of Assets. In no event shall any part of the corpus or ----------------------- income of the Trust Fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan, except to the extent that assets may be returned to the Employer in accordance with the Plan where the Plan fails to qualify initially under Section 401(a) of the Internal Revenue Code of 1986, as amended (the “"Code”"), or where they are attributable to contributions made by mistake of fact or in excess of the deductibility allowed under the Codeconditioned upon their deductibility.
Appears in 1 contract
Nondiversion of Assets. In no event shall any part of the corpus or income of the Trust Fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan, except to the extent that assets may be returned to the Employer in accordance with the Plan where the Plan fails to qualify initially under Section 401(a) of the Internal Revenue Code (the “"Code”"), or where they are attributable to contributions made by mistake of fact or in excess of the deductibility allowed under the Code.
Appears in 1 contract
Samples: Trust Agreement (Security of Pennsylvania Financial Corp)
Nondiversion of Assets. In no event shall any part of the corpus or income of the Trust Fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan, except to the extent that assets may be returned to the Employer in accordance with the Plan where the Plan fails to qualify initially under Section 401(a) of the Internal Revenue Code (the “Code”), or where they are attributable to contributions made by mistake of fact or in excess of the deductibility allowed under the Codeconditioned upon their deductibility.
Appears in 1 contract
