Common use of PARTICIPATING AFFILIATES Clause in Contracts

PARTICIPATING AFFILIATES. If this Plan is adopted as a standardized Plan, each Affiliate shall automatically become a Participating Affiliate effective as of the later of the Effective Date or the date such entity first becomes an Affiliate. If this Plan is adopted as a nonstandardized Plan, an Affiliate of the Employer may adopt the Employer's Plan effective as of any date on or after the Effective Date. An Affiliate's execution of the Adoption Agreement (or a separate signature page to the Adoption Agreement) shall evidence the Participating Affiliate's adoption of the Plan and the effective date of such adoption. In adopting this Plan, each Participating Affiliate is deemed to have authorized the Employer to effect all actions under this Plan on its behalf, including but not limited to the powers reserved to the Employer under this section 14 and the power to enter into such agreements with the Trustee or others as may be necessary or appropriate under the Plan.

PARTICIPATING AFFILIATES. If this Plan is adopted as a standardized Plan, each Affiliate shall automatically become a Participating Affiliate effective effect as of the later of the Effective Date or the date such entity first becomes an Affiliate. If this Plan is adopted as a nonstandardized Plan, an Affiliate of the Employer may adopt the Employer's Plan effective as of any date on or after the Effective Date. An Affiliate's execution of the Adoption Agreement (or a separate signature page to the Adoption Agreement) shall evidence the Participating Affiliate's adoption of the Plan and the effective date of such adoption. In adopting this Plan, each Participating Affiliate is deemed to have authorized the Employer to effect all actions under this Plan on its behalf, including but not limited to the powers reserved to the Employer under this section 14 (S)14 and the power to enter into such agreements with the Trustee or others as may be necessary or appropriate under the Plan.. 107