PLAN CHANGE OR AMENDMENT Sample Clauses
The "Plan Change or Amendment" clause defines the process by which modifications can be made to an existing plan, such as an employee benefit or retirement plan. Typically, this clause outlines who has the authority to make changes, the procedures that must be followed, and any limitations or notice requirements involved. For example, it may specify that the employer can amend the plan at any time, provided participants are notified in advance. The core function of this clause is to provide flexibility for the plan sponsor to adapt the plan to changing circumstances or legal requirements while ensuring that all parties understand how changes can be implemented.
PLAN CHANGE OR AMENDMENT. You agreed to provide Us with reasonable advance notice of any change or amendment to the Plan.
PLAN CHANGE OR AMENDMENT. The Investor agrees to provide Effective Communication at least sixty (60) days in advance of the effective date of any change in Plan operation, including changes in investment allocation, the establishment or activation of, or material change in, any Plan investment fund or any change in administrative procedures or any amendment to the Plan. The notice shall include a description of the proposed change or amendment. MassMutual shall have forty-five (45) days from the date of receipt of the notice to determine whether it can continue to operate the Agreement under its current terms following the proposed change or amendment. If MassMutual determines that the proposed change or amendment has an adverse effect on MassMutual's administrative procedures or the financial experience of MassMutual or other investors with investment agreements in the same class as this Agreement, MassMutual shall either:
(i) propose an amendment to this Agreement that it deems necessary as a result of the change or amendment; or
(ii) terminate the Agreement, before the effective date of the change or amendment if MassMutual and the Investor are unable to reach agreement, including agreement upon any amendment to this Agreement, that MassMutual deems necessary. The Investor agrees that it will be a breach of this Agreement for the Plan Sponsor to adopt any change or amendment that would have an adverse effect on MassMutual's administrative procedures or the financial experience of MassMutual or other investors with investment agreements in the same class as this Agreement unless the Investor and MassMutual have agreed to any such amendment to this Agreement that MassMutual deems necessary as a result of the change or amendment.