Common use of Payments to Current Participants Clause in Contracts

Payments to Current Participants. The Settlement Administrator shall complete all payment calculations for all Current Participants within forty-five (45) calendar days after the Settlement Effective Date. 6.6.1 Within five (5) calendar days after the Settlement Administrator has completed all payment calculations for all Current Participants, the Settlement Administrator will provide the Plan Administrator with an Excel spreadsheet containing the name, Social Security number, and the amount of the settlement payment to be made into the Active Account(s) for each of the Current Participants. 6.6.2 Thereafter, within fourteen (14) calendar days’ written notice to the Plan Administrator, the Settlement Administrator shall effect a transfer from the Qualified Settlement Fund to the Plan’s trustee of the aggregate amount of all settlement payments payable to Current Participants, as reflected in the spreadsheet provided by the Settlement Administrator. The Plan’s trustee will credit the individual Active Account(s) of each Current Participant in an amount equal to that stated on the spreadsheet provided by the Settlement Administrator in relation to such Current Participant. 6.6.3 The settlement payment for each Current Participant will be invested in accordance with and proportionate to such Current Participant’s investment elections then on file. If there is no investment election on file for any Current Participant, then such Current Participant shall be deemed to have directed such payment to be invested in the relevant Plan’s “Qualified Default Investment Alternative,” as defined in 29 C.F.R. § 2550.404c-5. 6.6.4 The Settling Parties understand the Plan’s Recordkeeper will process all Current Participant transactions within thirty (30) calendar days of receiving direction from the Settlement Administrator for any Current Participant. 6.6.5 The Plan may be amended, to the extent necessary, to reflect the settlement allocation to Current Participants’ Active Account(s) in accordance with this § 6.

Payments to Current Participants. The Settlement Administrator shall complete all payment calculations for all Current Participants within forty-five (45) calendar days after the Settlement Effective Datewill not be required to submit a Former Participant Claim Form to receive a settlement payment. 6.6.1 6.4.1 Within five two (52) calendar business days after the Settlement Administrator has completed all payment calculations for all Current Participants, the Settlement Administrator will provide the Plan Administrator with an Excel spreadsheet containing the name, Social Security number, and the amount of the settlement payment to be made into the Active Account(s) for each of the Current Participants.the 6.6.2 6.4.2 Thereafter, within fourteen ten (1410) calendar business days’ written notice to the Plan AdministratorDefendants (or their designee), the Settlement Administrator shall effect a transfer from the Qualified Settlement Fund to each of the Plan’s trustee Plans’ recordkeepers of the aggregate amount of all settlement payments payable to Current ParticipantsParticipants with that recordkeeper, as reflected in the spreadsheet spreadsheets provided by the Settlement Administrator. The Plan’s trustee will . 6.4.3 Defendants (or their designee) shall direct the Plans’ recordkeepers to credit the individual Active Account(s) of each Current Participant in an amount equal to that stated on the spreadsheet spreadsheets provided by the Settlement Administrator in relation to such Current Participant. 6.6.3 6.4.4 The settlement payment for each Current Participant with each recordkeeper will be invested in accordance with and proportionate to such Current Participant’s investment elections then on filefile for new contributions with that recordkeeper. If there is no investment election for new contributions on file for any Current ParticipantParticipant with a recordkeeper, then such Current Participant shall be deemed to have directed such payment to be invested in the relevant Plan’s “Qualified Default Investment Alternative,” as defined in 29 C.F.R. § 2550.404c-5. 6.6.4 6.4.5 The Settling Parties understand the Plan’s Recordkeeper will Plans’ recordkeepers shall process all Current Participant transactions within thirty (30) calendar days of receiving direction from the Settlement Administrator Defendants (or their designee) for any Current Participant. 6.6.5 The Plan may be amended, to the extent necessary, to reflect the settlement allocation to Current Participants’ Active Account(s) in accordance with this § 6.

Payments to Current Participants. The Settlement Administrator shall complete all payment calculations for all Current Participants within forty-five (45) calendar days after the Settlement Effective Datewill not be required to submit a Former Participant Claim Form to receive a settlement payment. 6.6.1 6.5.1. Within five two (52) calendar business days after the Settlement Administrator has completed all payment calculations for all Current Participants, the Settlement Administrator will provide the Plan Administrator Defendants (or their designee) with an Excel spreadsheet containing the name, Social Security number, and the amount of the settlement payment to be made into the Active Account(s) for each of the Current Participants. 6.6.2 6.5.2. Thereafter, within fourteen ten (1410) calendar business days’ written notice to the Plan AdministratorDefendants (or their designee), the Settlement Administrator shall effect a transfer from the Qualified Settlement Fund to the Plan’s trustee of the aggregate amount of all settlement payments payable to Current Participants, as reflected in the spreadsheet provided by the Settlement Administrator. The Defendants (or their designee) shall direct the Plan’s trustee will to credit the individual Active Account(s) of each Current Participant in an amount equal to that stated on the spreadsheet provided by the Settlement Administrator in relation to such Current Participant. 6.6.3 6.5.3. The settlement payment for each Current Participant will be invested in accordance with and proportionate to such Current Participant’s investment elections then on file. If there is no investment election on file for any Current Participant, then such Current Participant shall be deemed to have directed such payment to be invested in the relevant Plan’s “Qualified Default Investment Alternative,” as defined in 29 C.F.R. § 2550.404c-5. 6.6.4 6.5.4. The Settling Parties understand the Plan’s Recordkeeper will recordkeeper shall process all Current Participant transactions within thirty (30) calendar days of receiving direction from the Settlement Administrator Defendants (or their designee) for any Current Participant. 6.6.5 6.5.5. The Plan may be amended, to the extent necessary, to reflect the settlement allocation to Current Participants’ Active Account(s) in accordance with this § Article 6.

Payments to Current Participants. Current Participants will not be required to submit a Former Participant Claim Form to receive a settlement payment. The Settlement Administrator shall complete all payment calculations for all Current Participants and Authorized Former Participants within forty-five thirty (4530) calendar business days after the Settlement Effective Date. 6.6.1 6.5.1 Within five two (52) calendar business days after the Settlement Administrator has completed all payment calculations for all Current Participants, the Settlement Administrator will provide the Plan Administrator administrator with an Excel spreadsheet containing the name, Social Security number, and the amount of the settlement payment to be made into the Active Account(s) for each of the Current Participants. 6.6.2 6.5.2 Thereafter, within fourteen ten (1410) calendar business days’ written notice to the Plan Administratoradministrator, the Settlement Administrator shall effect a transfer from the Qualified Settlement Fund to the Plan’s trustee of the aggregate amount of all settlement payments payable to Current Participants, as reflected in the spreadsheet provided by the Settlement Administrator. The Plan’s trustee will credit the individual Active Account(s) of each Current Participant in an amount equal to that stated on the spreadsheet provided by the Settlement Administrator in relation to such Current Participant.as 6.6.3 6.5.3 The settlement payment for each Current Participant will be invested in accordance with and proportionate to such Current Participant’s investment elections then on file. If there is no investment election on file for any Current Participant, then such Current Participant shall be deemed to have directed such payment to be invested in the relevant Plan’s “Qualified Default Investment Alternative,” as defined in 29 C.F.R. § 2550.404c-5. 6.6.4 6.5.4 The Settling Parties understand the Plan’s Recordkeeper recordkeeper will process all Current Participant transactions within thirty (30) calendar days of receiving direction from the Settlement Administrator for any Current Participant. 6.6.5 6.5.5 The Plan may be amended, to the extent necessary, to reflect the settlement allocation to Current Participants’ Active Account(s) in accordance with this § Article 6.

Payments to Current Participants. Current Participants will not be required to submit a Former Participant Claim Form to receive a settlement payment. The Settlement Administrator shall complete all payment calculations for all Current Participants and Authorized Former Participants within forty-five thirty (4530) calendar business days after the Settlement Effective Date. 6.6.1 6.5.1 Within five two (52) calendar business days after the Settlement Administrator has completed all payment calculations for all Current Participants, the Settlement Administrator will provide the Plan Administrator BB&T Corporation (or its designee) with an Excel spreadsheet containing the name, Social Security numbernumber or other unique identifier, and the amount of the settlement payment to be made into the Active Account(s) Plan account for each of the Current Participants. 6.6.2 6.5.2 Thereafter, within fourteen ten (1410) calendar business days’ written notice to the Plan AdministratorBB&T Corporation (or its designee), the Settlement Administrator shall effect a transfer from the Qualified Settlement Fund to the Plan’s trustee of the aggregate amount of all settlement payments payable to Current Participants, as reflected in the spreadsheet provided by the Settlement Administrator. The BB&T Corporation (or its designee) shall direct the Plan’s trustee will to credit the individual Active Account(s) Plan accounts of each Current Participant in an amount equal to that stated on the spreadsheet provided by the Settlement Administrator in relation to such Current Participant. 6.6.3 6.5.3 The settlement payment for each Current Participant will be invested in accordance with and proportionate to such Current Participant’s investment elections then on filefile for new contributions. If there is no investment election for new contributions on file for any Current Participant, then such Current Participant shall be deemed to have directed such payment to be invested in the relevant directed 6.5.4 The Plan’s “Qualified Default Investment Alternative,” as defined in 29 C.F.R. § 2550.404c-5. 6.6.4 The Settling Parties understand the Plan’s Recordkeeper will recordkeeper shall process all Current Participant transactions within thirty (30) calendar days of receiving direction from the Settlement Administrator BB&T Corporation (or its designee) for any Current Participant. 6.6.5 The Plan may be amended, to the extent necessary, to reflect the settlement allocation to Current Participants’ Active Account(s) in accordance with this § 6.