Common use of Payment of Contributions Clause in Contracts

Payment of Contributions. The amount of the Employer's contribution to the Plan for each Plan Year shall be paid to the Trustee either in a single payment or in installments. [Note: Failure to make quarterly contributions required under section 412(m) of the Code will result in he imposition of interest on the Employer]. In order to ensure a deduction for each Plan Year, the total amount of its contributions shall be made no later than the time prescribed by law for filing its federal income tax return for the fiscal year of the Employer ending with or within such Plan Year, including extensions thereof. All contributions made by an Employer shall be conditional upon their deductibility by the Employer for income tax purposes; provided, however, that no contributions shall be returned to the Employer except as otherwise provided in this Plan.