Notice to Unitholders of Non-Eligibility for Deferred Income Plans Sample Clauses

Notice to Unitholders of Non-Eligibility for Deferred Income Plans. If the Trustee becomes aware that the Trust Units have ceased to be eligible investments for registered retirement savings plans, registered retirement income funds, registered education savings plans and deferred profit sharing plans (all within the meaning of the Tax Act) or any of such plans, the Corporation shall give notice to Unitholders at their latest address as shown on the register of Unitholders that Trust Units have ceased to be eligible investments for such plans. Notwithstanding the foregoing, the Trustee and the Corporation shall not be liable to the Trust or to any Unitholder for any costs, expenses, charges, penalties or taxes imposed upon a Unitholder as a result of or by virtue of a Trust Unit not being an eligible investment for any such plan, notwithstanding any failure or omission of the Corporation to have given such notice, provided the Trustee has complied with Section 7.5.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Notice to Unitholders of Non-Eligibility for Deferred Income Plans. If the Corporation advises the Trustee that the Trust Units have ceased to be qualified investments for "registered retirement savings plans", "registered retirement income funds", "deferred profit sharing plans" and "registered education savings plans" (all within the meaning of the Tax Act) or any of such plans or funds (a "Registered Plan"), or that the Trust Units have become "foreign property" (except for trusts governed by registered education savings plans, which are not subject to the foreign property rules) within the meaning of the Tax Act, the Trustee shall give notice to Unitholders at their latest address as shown on the register(s) of Unitholders that the Trust Units have ceased to be qualified investments for such Registered Plans or that the Trust Units have become "foreign property", as the case may be. The Trustee shall not be liable to the Trust or to any Unitholder for any costs, expenses, charges, penalties or taxes incurred by a Unitholder or, where the Unitholder is a Registered Plan, an annuitant thereunder, as a result of or by virtue of a Trust Unit not being a qualified investment for any such Registered Plan or the Trust Units having become "foreign property", as the case may be, notwithstanding the failure or omission by the Trustee to have given the notice provided for herein, provided that the Trustee has complied with section 8.5. In addition, the Corporation shall not be liable to the Trust or to any Unitholder for any costs, expenses, charges, penalties or taxes incurred by a Unitholder or, where the Unitholder is a Registered Plan, an annuitant thereunder, as a result of or by virtue of a Trust Unit not being a qualified investment for any such Registered Plan or the Trust Units having become "foreign property", as the case may be, notwithstanding any failure or omission by the Corporation to so advise the Trustee as provided for herein.
Sample 1

Related to Notice to Unitholders of Non-Eligibility for Deferred Income Plans

  • Distribution Eligibility Shares issued in a Fund after receipt of a completed purchase order shall be eligible to receive distributions of the Fund at the time specified in the prospectus pursuant to which the Shares are offered.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Supplemental Retirement Benefit In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Termination of 401(k) Plan The Company agrees to terminate its 401(k) plan immediately prior to the Closing, unless Parent, in its sole and absolute discretion, agrees to sponsor and maintain such plan by providing the Company with notice of such election at least five days before the Effective Time.

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows:

  • Death After Termination of Employment But Before Benefit Payments Commence If the Executive is entitled to benefit payments under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

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