PAYMENTS TO PARTICIPANTS AND BENEFICIARIES Sample Clauses

PAYMENTS TO PARTICIPANTS AND BENEFICIARIES. 3.1 Schedule 1 lists the Agreements covered by the Trust as of the Effective Date. The Company may amend Schedule 1 at any time to add one or more Agreements, or remove one or more Agreements only after all payments under each such Agreement has been made in full and the Company certifies the same in writing to the Trustee and the Participant. Such removal shall become effective ten (10) days after receipt of such notice unless the Participant sends a written notice to the Company with a copy to the Trustee objecting to such removal. In the event such an objection is made in accordance with the preceding sentence, the Trustee shall not distribute any assets credited to such Participant’s Account until the dispute is resolved in accordance with Section 9.6 hereof. The Agreements may be amended in accordance with their terms at any time.
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PAYMENTS TO PARTICIPANTS AND BENEFICIARIES. (a) The Corporation shall provide the Trustee with a copy of each amendment to the Plan within a reasonable period after the adoption thereof. The Corporation shall maintain adequate records identifying each Employer's obligations to each Participant and Beneficiary under the Plan. At any time reasonably requested by the Trustee after a Change of Control, the Corporation shall provide the Trustee with copies of such records.
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PAYMENTS TO PARTICIPANTS AND BENEFICIARIES. (a) Notwithstanding the other provisions of this Section 2, the Trustee shall not make any distribution as provided in this Section 2 if, at the time of the distribution, the Trustee is required to suspend such distributions (as provided in Paragraph 3(c)) by reason of having received notice or allegations of the Company's insolvency.
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PAYMENTS TO PARTICIPANTS AND BENEFICIARIES. Section 6. Trustee Responsibility Regarding Payments to Participants When Corporation Insolvent.
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PAYMENTS TO PARTICIPANTS AND BENEFICIARIES. The Company shall deliver to the Trustee a Payment Schedule and, except as otherwise provided herein, the Trustee shall make payments to Participants and Beneficiaries in accordance with such Payment Schedule. The entitlement of a Participant or Beneficiary to benefits under the Plan shall be determined by the Company and any claim for such benefits shall be considered and reviewed under the procedures set out in the Plan(s). The Company may make benefit payments directly to Participants and Beneficiaries as they become due under the terms of the Plan(s). The Company shall notify the Trustee of its decision to make payment of benefits directly prior to the time amounts are payable to Participants or Beneficiaries. The Company may request reimbursement from the Trustee for any amounts paid directly to Participants or Beneficiaries by providing a certification of the amounts paid and satisfactory evidence of such payments to the Trustee. Trustee may rely on such certification and evidence and shall have no obligation for otherwise verifying payment. If the principal of the Trust, and any earnings thereon, are not sufficient to make payments of benefits in accordance with the terms of the Plan(s), the Company shall make the balance of each such payment as it falls due. The Trustee shall notify the Company where principal and earnings are not sufficient.
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PAYMENTS TO PARTICIPANTS AND BENEFICIARIES. (a) Company shall deliver to Trustee a schedule (the "Payment Schedule") that indicates the amounts payable in respect of each Participant (and his Beneficiaries), pursuant to the Plan that provides a formula or other instructions acceptable to Trustee for determining the amounts 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, all in accordance with the Plan. Except as otherwise provided herein, Trustee shall make payments to the Participants and Beneficiaries in accordance with the Payment Schedule. 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, or cause to be paid, amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by Company.
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PAYMENTS TO PARTICIPANTS AND BENEFICIARIES. Schedule 1 lists the Agreements covered by the Trust as of the Effective Date. The Company may amend Schedule 1 at any time to add one or more Agreements, or remove one or more Agreements only after all payments under each such Agreement has been made in full and the Company certifies the same in writing to the Trustee and the Participant. Such removal shall become effective ten (10) days after receipt of such notice unless the Participant sends a written notice to the Company with a copy to the Trustee objecting to such removal. In the event such an objection is made in accordance with the preceding sentence, the Trustee shall not distribute any assets credited to such Participant’s Account until the dispute is resolved in accordance with Section 9.6 hereof. The Agreements may be amended in accordance with their terms at any time. No later than ten (10) days prior to the end of the Six Month Period with respect to a Participant, the Company shall certify to the Trustee in writing the date as of which such Six Month Period will end, the form in which the Participant’s severance is to be paid and the amount of severance to be paid and the amounts of any federal, state or local taxes required to be withheld with respect to the payment of benefits pursuant to the terms of an Agreement. Within ten (10) days after receipt of such notice, unless the Trustee is informed of a dispute by written notice from either the Company or the Participant, the Trustee shall make payment to the Participant of the amount credited to the Account of such Participant including any Interest earned thereon from the date of the Participant’s separation from service, reduced by all taxes required to be withheld in accordance with the aforesaid certification. The Trustee shall transmit such withheld amounts to the Company, which shall pay such amounts to the appropriate taxing authorities. In the event of the Participant’s death after a separation from service, any amounts payable from the Trust to the Participant shall be paid to the Participant’s beneficiary as soon as administratively practicable after the death of the Participant. A Participant may designate or change a beneficiary in the form set forth in Schedule 2 hereto. If the amount credited to a Participant’s Account under the Trust is not sufficient to make payments of benefits in accordance with the terms of any Agreement, the Company shall promptly contribute to the Trust an amount equal to the shortfall or pay such amoun...
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PAYMENTS TO PARTICIPANTS AND BENEFICIARIES. (a) The Employer shall provide instructions acceptable to the Trustee for determining the amount of Designated Property and the time for payment. Except as otherwise provided herein, the Trustee shall make payments to the Plan Participants and their Beneficiaries in accordance with such instructions.
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PAYMENTS TO PARTICIPANTS AND BENEFICIARIES 
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Related to PAYMENTS TO PARTICIPANTS AND BENEFICIARIES

  • Payments to Plan Participants and Their Beneficiaries (a) Company shall deliver to Trustee a schedule (the "Payment Schedule") that indicates the amounts payable in respect of each Plan participant (and his or her beneficiaries), that provides a formula or other instructions acceptable to Trustee for determining the amounts 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, Trustee shall make payments to the Plan participants and their beneficiaries in accordance with such Payment Schedule. 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 Company.

  • Distributions to Participants Whenever LC Issuer has in accordance with this section received from any Lender payment of such Lender's Percentage Share of any Matured LC Obligation, if LC Issuer thereafter receives any payment of such Matured LC Obligation or any payment of interest thereon (whether directly from Borrower or by application of LC Collateral or otherwise, and excluding only interest for any period prior to LC Issuer's demand that such Lender make such payment of its Percentage Share), LC Issuer will distribute to such Lender its Percentage Share of the amounts so received by LC Issuer; provided, however, that if any such payment received by LC Issuer must thereafter be returned by LC Issuer, such Lender shall return to LC Issuer the portion thereof which LC Issuer has previously distributed to it.

  • Payments to Beneficiary If the Executive dies before receiving amounts to which the Executive is entitled under this Agreement, such amounts shall be paid in a lump sum to the beneficiary designated in writing by the Executive, or if none is so designated, to the Executive’s estate.

  • Compensation Benefits and Expenses During the Term, the Bank shall compensate the Executive for his services as provided in this Section 3. Unless otherwise determined by the Company Board, all payments and benefits provided in this Agreement shall be paid or provided solely by the Bank. Notwithstanding anything in this Agreement to the contrary, no provision of this Agreement shall be construed so as to result in the duplication of any payment or benefit. Unless otherwise determined by the Company Board, the Company’s sole obligation under this Agreement shall be to unconditionally guarantee the payment and provision of all amounts and benefits due hereunder to Executive, and the affirmative obligations of the Company as set forth at Section 3(h), herein, with respect to Indemnification, and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the Company.

  • VALUE OF PARTICIPANT'S ACCRUED BENEFIT If a distribution (other than a distribution from a segregated Account) occurs more than 90 days after the most recent valuation date, the distribution will include interest at: (Choose (a), (b) or (c))

  • Acknowledgement of Discretionary Nature of the Plan; No Vested Rights By accepting the Restricted Stock Units, the Participant consents to participation in the Plan and acknowledges receipt of a copy of the Plan. The Participant understands that the Company has unilaterally, gratuitously and in its sole discretion granted Restricted Stock Units under the Plan to individuals who may be Participants of the Company or its subsidiaries throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Company or any of its subsidiaries on an ongoing basis. Consequently, the Participant understands that the Restricted Stock Units are granted on the assumption and condition that the Restricted Stock Units and the Shares acquired upon settlement of the Restricted Stock Units shall not become a part of any employment contract (either with the Company or any of its subsidiaries) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. In addition, the Participant understands that this grant would not be made to the Participant but for the assumptions and conditions referenced above; thus, the Participant acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason the Restricted Stock Units shall be null and void. The Participant understands and agrees that, as a condition of the Restricted Stock Units, unless otherwise provided in Section 4 (Termination of Employment) of the Agreement, any unvested Restricted Stock Units as of the date the Participant ceases active employment will be forfeited without entitlement to the underlying Shares or to any amount of indemnification in the event of termination of employment or service. The Participant acknowledges that the Participant has read and specifically accepts the conditions referred to in the Agreement regarding the impact of a termination on the Restricted Stock Units.

  • METHOD OF PAYMENT OF ACCRUED BENEFIT The Advisory Committee will apply Section 6.02 of the Plan with the following modifications: (Choose (a) or at least one of (b), (c), (d) and (e))

  • PAYMENTS AND BENEFITS UPON TERMINATION (a) If within eighteen (18) months after a Change in Control, the Company terminates Employee's employment other than by reason of Employee's death, Disability, Retirement or for Cause, or if Employee terminates Employee's employment for Good Reason, then the Employee shall be entitled to the following payments and benefits:

  • Intended Beneficiaries Nothing in this Agreement shall be construed to give any person or entity other than the parties hereto any legal or equitable claim, right or remedy. Rather, this Agreement is intended to be for the sole and exclusive benefit of the parties hereto.

  • Timing of Reimbursements and In-kind Benefits If Executive is entitled to be paid or reimbursed for any taxable expenses under this Agreement, and such payments or reimbursements are includible in Executive’s federal gross taxable income, the amount of such expenses reimbursable in any one calendar year shall not affect the amount reimbursable in any other calendar year, and the reimbursement of an eligible expense must be made no later than December 31 of the year after the year in which the expense was incurred. No right of Executive to reimbursement of expenses under this Agreement shall be subject to liquidation or exchange for another benefit.

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