Common use of Partial or Complete Termination or Complete Discontinuance of Contributions Clause in Contracts

Partial or Complete Termination or Complete Discontinuance of Contributions. Without regard to any other provision of the Plan, if there is a partial or total termination of the Plan or there is a complete discontinuance of the Employer's Contributions, each of the affected Members shall immediately have a 100 percent Nonforfeitable Interest in his Account as of the end of the last Plan Year for which a substantial Employer Contribution was made and in any amounts later allocated to his Account. If the Employer then resumes making substantial Contributions at any time, the appropriate vesting schedule shall again apply to all amounts allocated to each affected Member's Account beginning with the Plan Year for which they were resumed.

Appears in 2 contracts

Samples: 401(k) Savings Plan (Kaneb Services LLC), 401(k) Savings Plan (Kaneb Services LLC)

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Partial or Complete Termination or Complete Discontinuance of Contributions. Without regard to any other provision of the Plan, if there is a partial or total termination of the Plan or there is a complete discontinuance of the Employer's ’s Contributions, each of the affected Members shall immediately have a 100 percent fully Nonforfeitable Interest in amounts credited to his Account Accounts as of the end of the last Plan Year for which a substantial Employer Contribution was made and in any amounts later allocated to his Account. If the Employer then resumes making substantial Contributions at any time, the appropriate vesting schedule shall again apply to all amounts allocated to each affected Member's ’s Account beginning with the Plan Year for which they were resumed.

Appears in 1 contract

Samples: 401(k) Savings Plan (Mens Wearhouse Inc)

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Partial or Complete Termination or Complete Discontinuance of Contributions. Without regard to any other provision of the Plan, if there is a partial or total termination of the Plan or there is a complete discontinuance of the Employer's Contributions, each of the affected Members Participants shall immediately have a 100 percent fully Nonforfeitable Interest in his Account as of the end of the last Plan Year for which a substantial Employer Contribution was made and in any amounts later allocated to his Account. If the Employer then resumes making substantial Contributions at any time, the appropriate vesting schedule shall again apply to all amounts allocated to each affected MemberParticipant's Account beginning with the Plan Year for which they were resumed.

Appears in 1 contract

Samples: Employee Savings Plan (Quanex Corp)

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