Payments to Participants. Administrative Agent-Servicer shall facilitate payments from the Borrower to each Participant. Administrative Agent-Servicer will promptly pay to the Participant an amount equal to the Participant's share of each amount received and applied by the Administrative Agent-Servicer in payment of principal of, or interest on, each Loan, such share to be (i) in the case of principal, the related Participation Percentage thereof, (ii) in the case of interest, the Participation Percentage of the interest on the unpaid principal amount of the Loan, computed at the related Participation Rate for the period for which such interest was paid (or, if the related Loan Participation has been outstanding for a shorter period, for such shorter period); provided that, if the amount of interest so received and applied is less than the interest on such unpaid principal amount computed at the stated Participation Rate therefor for the period for which such interest was paid, then the amount payable under this clause (ii) shall be reduced proportionately
Payments to Participants. (a) The Employer shall deliver to the Trustee a schedule (the “Payment Schedule”) that indicates the amounts payable in respect of each Participant, that provides a formula or other instructions acceptable to the Trustee for determining the amount so payable, the form in which such amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. Except as otherwise provided herein, the Trustee shall make payments to the Participants in accordance with such Payment Schedule. If so directed by the Employer, the Trustee shall make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Plan and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by the Employer.
(b) The entitlement of a Participant to benefits under the Plan shall be determined by the Employer or such party as shall be designated under the Plan, and any claim for such benefits shall be considered and reviewed under the procedures set out in the Plan.
(c) The Employer may make payment of benefits directly to Participants as they become due under the terms of the Plan. The Employer shall notify the Trustee of its decision to make payment of benefits directly prior to the time amounts are payable to Participants. In addition, if the principal of the Trust, and earnings thereon, are not sufficient to make payments of benefits in accordance with the terms of the Plan, the Employer shall make the balance of each such payment as it falls due. The Trustee shall notify the Employer where principal and earnings are not sufficient. The Trustee shall have no duty or obligation to enforce or compel the Employer to make payments hereunder. The Employer may direct the Trustee to reimburse the Employer for payments made directly by Employer to Participants and shall provide the Trustee with such documentation to evidence those direct payments as the Trustee may reasonably request.
(1) In the event payments are made by the Employer directly to Participants, the Employer shall have sole responsibility for the reporting and withholding of any federal, state, or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Plan and shall pay amounts withheld to the appropriate taxing author...
Payments to Participants. A Participant shall not be entitled to receive any greater payment under §§3.3, 3.4 and 3.5 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant.
Payments to Participants. A Participant shall not be entitled to receive any greater payment under Sections 6.3, 6.8, 6.9 and 6.12 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant.
Payments to Participants. A Participant shall not be entitled to receive any greater payment under Sections 4.1.2, 4.3 and 4.4 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Non-U.S. Lender if it were a Lender shall not be entitled to the benefits of Section 4.1.2 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 4.1.3 as though it were a Lender.
Payments to Participants. (a) The Company shall be solely responsible for keeping, and providing to the Recordkeeper, accurate books and records with respect to the employees of the Company, their compensation and their and their beneficiaries' rights and interests in the Trust pursuant to the Plan(s). As soon as practicable after the establishment of this Trust and the addition of any nonqualified deferred compensation plan to Appendix A, or the amendment of any Plan, the Company shall provide the Recordkeeper with certified copies of such Plans and/or amendments, and all related documents. The Trustee shall not be required to maintain any separate records or accounts with respect to any Participant, and any records or accounts required to be maintained pursuant to the terms of any Plan shall be the responsibility of the Company or Recordkeeper.
(b) As soon as practicable after the establishment of this Trust, the Company shall deliver a Payment Schedule to the Trustee. The Company shall regularly revise or update the Payment Schedule, as required. Except as otherwise provided in Section 3, upon receipt from the Company of such Payment Schedule, which shall include the amount of Federal, state and local tax required to be withheld, the Trustee shall make payments at the times and in the manner and form specified in such Payment Schedule to Participants and to the Company with respect to any taxes withheld from such payments in accordance with the Company's instructions, all to the extent funds are available in the Trust with respect to the applicable Plan(s). The Trustee shall not make any payments to Participants from the Trust other than as required by the Payment Schedule.
(c) The Company may make payment of benefits directly to Participants as they become due under the terms of the Plan(s). In such event, the Company shall also provide for the reporting and withholding of any Federal, state or local taxes that may be required to be withheld with respect to such benefit payments. The Company shall notify the Trustee of its decision to pay such benefits directly prior to the time amounts are payable to Participants, and any such notice received by the Trustee shall constitute an amendment of the affected Payment Schedule.
(d) If the principal of the Trust, and any earnings thereon, allocated to a Plan are not sufficient to make payments of all benefits then payable as of a payment date in accordance with the Payment Schedule, the Trustee shall allocate the available assets pro r...
Payments to Participants. Servicer shall pay to each Participant within three business days after the date of this Agreement the Participant’s Participant Share of the interest on the Loan for the month in which the Closing occurred, calculated from the Closing Date through the last day of that month.
Payments to Participants. 4.01 Prior to a Termination and Change of Control or a Failure to Pay. Prior to a Termination and Change of Control or a Failure to Pay:
(a) Distributions from the Trust shall be made by the Trustee to Participants only at the direction of the Company. The Company shall provide such directions annually for each Plan, and such directions (when considered together with payments to Participants by the Company from sources other than Trust assets) must provide for payments to Participants which are in accordance with the Benefit Schedule and the Plans. Such directions may not provide for distributions from a Participant's Plan account which bear a greater proportion to the total payment then being made to the Participant, than the amount in the Participant's Plan account under the Trust bears to the Plan Participant's accrued benefit under the Plan ("Prorata Payment"). If no directions are given or if the directions provide for a distribution from the Trust to a Participant which is less than a Prorata Payment, then in either case an amount necessary to achieve a Prorata Payment will be removed from the Participant's Plan account by the Trustee and reallocated amongst the accounts of all the Participants in the Plan in proportion to the balances in their respective accounts, including the Participant from whom the Trustee removed an amount in accordance with this sentence.
(b) The Company may make benefit payments pursuant to the Plans (other than distributions from the Trust) directly to Participants as the payments become due, or it may remit the amount needed for such payments to the Trustee, in which case the Trustee will make such payments. The Company shall notify the Trustee of its decision prior to the time amounts are payable to the Participant. The Company shall be responsible for all tax withholdings and reportings for payments it makes. The Trustee shall make all tax withholdings or payments from the Trust assets. Such withholdings shall be remitted to the tax authorities, or to the Company for remission to the tax authorities, as the Trustee and the Company may agree.
Payments to Participants. A Participant shall not be entitled to receive any greater payment under Sections 7.3.2, 7.7 and 7.8 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrowers' prior written consent.
Payments to Participants. Direct the Trustee to make payments to, or on behalf of, participants and/or their dependents of amounts payable to them under the terms of each Plan.
