Common use of Participating Employers Clause in Contracts

Participating Employers. (a) With the consent of the adopting Employer and Trustee, and by duly authorized action, any Affiliated Employer may adopt this Plan and become a Participating Employer. Unless the context clearly indicates otherwise the work "Employer" shall be deemed to include each Participating Employer as related to its adoption of the Plan. (b) Each such Participating Employer shall be required to select the same Adoption Agreement provisions as those selected by the Employer, and to ▇▇▇ the same Trustee as the Employer. (c) The Trustee may, but shall not be required to, commingle, hold and invest as one Trust Fund all contributions made by Participating Employers, as well as all increments thereof. (d) With respect to its relations with the Trustee and Committee for the purposes of this Plan, each Participating Employer shall be deemed to have irrevocably designated the Employer as its agent. Amendment of this Plan at any time when there shall be a Participating Employer shall only be by written action of the adopting Employer and such amendment shall be binding upon each Participating Employer. (e) Any Participating Employer may, at any time, by written notice to the Trustee in such form as is acceptable to the Trustee, discontinue its participation in the Plan and discontinue all contributions hereunder. The Trustee shall thereafter transfer, deliver and assign Fund assets to the Participants of such Participating Employer to such successor trustee as shall have been designated by such Participating Employer, in the event that it has established a separated plan for its Employees. If no successor trustee is designated, the Trustee shall retain such assets for the Employees of said Participating Employer pursuant to the provisions of this Plan.

Participating Employers. (a) With the consent of the adopting Employer and Trustee, and by duly authorized action, any Affiliated Employer may adopt this Plan and become a Participating Employer. Unless the context clearly indicates otherwise the work "Employer" shall be deemed to include each Participating Employer as related to its adoption of the Plan. (b) Each such Participating Employer shall be required to select the same Adoption Agreement provisions as those selected by the Employer, and to ▇▇▇ sue the same Trustee as the EmployerEmplo▇▇▇. (c) The Trustee may, but shall not be required to, commingle, hold and invest as one Trust Fund all contributions made by Participating Employers, as well as all increments thereof. (d) With respect to its relations with the Trustee and Committee for the purposes of this Plan, each Participating Employer shall be deemed to have irrevocably designated the Employer as its agent. Amendment of this Plan at any time when there shall be a Participating Employer shall only be by written action of the adopting Employer and such amendment shall be binding upon each Participating Employer. (e) Any Participating Employer may, at any time, by written notice to the Trustee in such form as is acceptable to the Trustee, discontinue its participation in the Plan and discontinue all contributions hereunder. The Trustee shall thereafter transfer, deliver and assign Fund assets to the Participants of such Participating Employer to such successor trustee as shall have been designated by such Participating Employer, in the event that it has established a separated plan for its Employees. If no successor trustee is designated, the Trustee shall retain such assets for the Employees of said Participating Employer pursuant to the provisions of this Plan.