Common use of Ordinary Life Insurance Clause in Contracts

Ordinary Life Insurance. For purposes of these incidental insurance provisions, ordinary life insurance contracts are contracts with both nondecreasing death benefits and nonincreasing premiums. If such contracts are purchased, less than 50% of the aggregate Employer Contributions and Forfeitures allocated to any Participant's Individual Account will be used to pay the premiums attributable to them.

Appears in 11 contracts

Samples: Qualified Retirement Plan and Trust (Meritage Hospitality Group Inc /Mi/), Qualified Retirement Plan (Teardrop Golf Co), Qualified Retirement Plan and Trust (Bradford Funds Inc)

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Ordinary Life Insurance. For purposes of these incidental insurance provisions, ordinary life insurance contracts are contracts with both nondecreasing death benefits and nonincreasing premiums. If such contracts are purchased, less than 50% of the aggregate Employer Contributions and Forfeitures allocated to any Participant's Individual Account will be used to pay the premiums attributable to them.,

Appears in 1 contract

Samples: 401(k) Profit Sharing Plan Adoption Agreement (Antigenics Inc /De/)

Ordinary Life Insurance. For purposes of these incidental insurance provisions, ordinary life insurance contracts are contracts with both nondecreasing non decreasing death benefits and nonincreasing premiums. If such contracts are purchased, less than 50% of the aggregate Employer Contributions and Forfeitures allocated to any Participant's Individual Account will be used to pay the premiums attributable to them.

Appears in 1 contract

Samples: Adoption Agreement (Bradford Funds Inc)

Ordinary Life Insurance. For purposes of these incidental insurance provisions, . ordinary life insurance contracts are contracts with both nondecreasing death benefits and nonincreasing premiums. If such contracts are purchased, less than 50% of the aggregate aggt'egate Employer Contributions and Forfeitures allocated to any Participant's Individual Account will be used to pay the premiums pttetniums attributable to them.

Appears in 1 contract

Samples: Basic Plan Document (Weststar Financial Services Corp)

Ordinary Life Insurance. For purposes of these incidental insurance provisions, ordinary life insurance contracts are contracts with both nondecreasing death benefits and nonincreasing premiums. If such contracts are purchased, less than 50% 50 percent of the aggregate Employer Contributions and Forfeitures allocated to any Participant's Individual Account will be used to pay the premiums attributable to them.

Appears in 1 contract

Samples: Retirement Plan Document (Merchants & Manufacturers Bancorporation Inc)

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Ordinary Life Insurance. For purposes of these incidental insurance provisions, ordinary life insurance contracts are contracts with both nondecreasing non-decreasing death benefits and nonincreasing non-increasing premiums. If such contracts are purchased, less than 50% of the aggregate Employer Contributions and Forfeitures allocated to any Participant's Individual Account will be used to pay the premiums attributable to them.

Appears in 1 contract

Samples: Prototype Defined Contribution Plan and Trust/Custodial Account (Connecticut Water Service Inc / Ct)

Ordinary Life Insurance. For purposes of these incidental insurance provisions, ordinary life insurance contracts are contracts with both nondecreasing death benefits and nonincreasing premiums. If such contracts are purchased, less than 50% 50 percent of the aggregate Employer Contributions and Forfeitures allocated to any Participant's ’s Individual Account will be used to pay the premiums attributable to them.

Appears in 1 contract

Samples: Comprehensive 401(k) Profit Sharing Plan Nonstandardized Adoption Agreement (Kimball Electronics, Inc.)

Ordinary Life Insurance. For purposes of these incidental m6dental insurance provisions, ordinary life insurance contracts are contracts with both nondecreasing death benefits and nonincreasing premiums. If such contracts are purchased, less than 50% of the aggregate Employer Contributions and Forfeitures allocated to any Participant's Individual Account will be used to pay the premiums attributable to them.

Appears in 1 contract

Samples: Basic Plan Document (Nabi /De/)

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