Common use of Payments to Current Clause in Contracts

Payments to Current. Participants Who Have a $0 Account Balance as of the Date the Settlement Payments Are Made. For each Current Participant with an Active Account that has an account balance of zero as of the date the settlement payments are made, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Current Participant then on file with the recordkeeper for the Plan. A Current Participant who has an account balance of zero as of the date the settlement payments are made need not complete a Former Participant Claim Form. The checks shall be issued as follows: 6.6.1 For each check issued, the Settlement Administrator shall (i) calculate and withhold any applicable taxes associated with the payments allocable to the Current Participant; (ii) report such payments and remit such tax withholdings to the Internal Revenue Service and applicable state revenue agents; and (iii) issue appropriate tax forms to the Current Participant. 6.6.2 Settlement payments that cannot be made by the Plan’s trustee within thirty (30) calendar days of receiving direction from Philips (or its designee), as described in Paragraph 6.5, because the Current Participant has an account balance of zero in the Plan shall be returned by the Plan’s trustee to the Settlement Administrator for distribution pursuant to this Paragraph 6.6 within ten (10) calendar days thereafter.

Payments to Current. Participants Who Have a $0 Account Balance as of the Date the Settlement Payments Are Made. For each Current Participant with an Active Account that who has an account balance of zero as of the date the settlement payments are made, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Current Participant then on file with the recordkeeper for the Planfile. A Current Participant who has an account balance of zero as of the date the settlement payments are made need not complete a Former Participant Claim Form. The checks shall be issued as follows: 6.6.1 For each check issued, the Settlement Administrator shall (i) calculate and withhold any applicable taxes associated with the payments allocable to the Current Participant; (ii) report such payments and remit such tax withholdings to the Internal Revenue Service and applicable state revenue agents; and (iii) issue appropriate tax forms to the Current Participant. 6.6.2 Settlement payments that cannot be made by the Plan’s trustee primary recordkeeper within thirty (30) calendar days of receiving direction from Philips the Duke Defendants (or its designee), as described in Paragraph 6.5, because the Current Participant has an account balance of zero in the Plan Plan, shall be returned by the Plan’s trustee primary recordkeeper to the Settlement Administrator for distribution pursuant to this Paragraph 6.6 within ten twenty (1020) calendar days thereafter.

Payments to Current. Participants Who Have a $0 Account Balance as of the Date the Settlement Payments Are Made. For each Current Participant with an Active Account that who has an account balance of zero as of the date the settlement payments are made, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Current Participant then on file with the recordkeeper for the Planfile. A Current Participant who has an account balance of zero as of the date the settlement payments are made need not complete a Former Participant Claim Form. The checks shall be issued as follows: 6.6.1 6.6.1. For each check issued, the Settlement Administrator shall (i) calculate and withhold any applicable taxes associated with the payments allocable to the Current Participant; (ii) report such payments and remit such tax withholdings to the Internal Revenue Service and applicable state revenue agents; and (iii) issue appropriate tax forms to the Current Participant. 6.6.2 6.6.2. Settlement payments that cannot be made by the Plan’s trustee recordkeeper(s) within thirty (30) calendar days of receiving direction from Philips Defendants (or its designee), as described in Paragraph 6.5, because the Current Participant has an account balance of zero in the Plan Plan, shall be returned by the Plan’s trustee recordkeeper(s) to the Settlement Administrator for distribution pursuant to this Paragraph 6.6 within ten twenty (1020) calendar days thereafter.

Payments to Current. Participants Who Have a $0 Account Balance as of the Date the Settlement Payments Are Made. For each Current Participant with an Active Account that who has an account balance of zero as of the date the settlement payments are made, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Current Participant then on file with the recordkeeper for the Planfile. A Current Participant who has an account balance of zero as of the date the settlement payments are made need not complete a Former Participant Claim Form. The checks shall be issued as follows: 6.6.1 For each check issued, the Settlement Administrator shall shall: (i) calculate and withhold any applicable taxes associated with the payments allocable to the Current Participant; (ii) report such payments and remit such tax withholdings to the Internal Revenue Service and applicable state revenue agents; and (iii) issue appropriate tax forms to the Current Participant. 6.6.2 Settlement payments that cannot be made by the Plan’s trustee recordkeeper within thirty (30) calendar days of receiving direction from Philips (or its designee)the Settlement Administrator, as described in Paragraph 6.5, because the Current Participant has an account balance of zero in the Plan Plan, shall be returned by the Plan’s trustee to the Settlement Administrator for distribution pursuant to this Paragraph 6.6 within ten twenty (1020) calendar days thereafter.

Payments to Current. Participants Who Have a $0 Account Balance as of the Date the Settlement Payments Are Made. For each Current Participant with an Active Account that who has an account balance of zero as of the date the settlement payments are made, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Current Participant then on file with the recordkeeper for the Plan. A Current Participant who has an account balance of zero as of the date the settlement payments are made need not complete a Former Participant Claim Form. The checks shall be issued as follows: 6.6.1 For each check issued, the Settlement Administrator shall (i) calculate and withhold any applicable taxes associated with the payments allocable to the Current Participant; (ii) report such payments and remit such tax withholdings to the Internal Revenue Service and applicable state revenue agents; and (iii) issue appropriate tax forms to the Current Participant. 6.6.2 Settlement payments that cannot be made by the Plan’s trustee within thirty (30) calendar days of receiving direction from Philips BB&T Corporation (or its designee), as described in Paragraph 6.5, because the Current Participant has an account balance of zero in the Plan shall be returned by the Plan’s trustee to the Settlement Administrator for distribution pursuant to this Paragraph 6.6 within ten twenty (1020) calendar days thereafter.