Plan Distributions. The Disbursing Agent shall make all Plan Distributions. In the event a Plan Distribution is payable on a day other than a Business Day, such Plan Distribution shall instead be paid on the immediately succeeding Business Day, but shall be deemed to have been made on the date otherwise due. For federal income tax purposes, except to the extent a Plan Distribution is made in connection with reinstatement of an obligation pursuant to section 1124 of the Bankruptcy Code, a Plan Distribution will be allocated first to the principal amount of a Claim and then, to the extent the Plan Distribution exceeds the principal amount of the Claim, to the portion of the Claim representing accrued but unpaid interest.
Plan Distributions. Pursuant to the terms and provisions of the Plan, the Disbursing Agent shall make the required Plan Distributions specified under the Plan on the relevant Plan Distribution Date therefor.
Plan Distributions. The Surviving Corporation and its Subsidiaries shall, or Parent shall cause the Surviving Corporation and its Subsidiaries to, cause a distribution of vested account balances from the Company's 401(k) plan, to each employee participating in the plan who terminates employment with the Company and all ERISA Affiliates after the Closing Date, as soon as administratively feasible following such employee's termination of employment, to the extent permissible under applicable law and not inconsistent with any other contractual obligation of the Surviving Corporation, its Subsidiaries or Parent; provided, however, the preceding shall not prohibit the transfer of the assets and liabilities of any Company 401(k) plan to a 401(k) plan of the Parent.
Plan Distributions. Except as provided under Article 9 (Joint and Survivor Annuity Requirements), this Article 8 governs all distributions to Participants under the Plan. Sections 8.1 and 8.2 set forth the available distribution options under the Plan and the amount available for distribution. Section 8.3 sets forth the Participants’ distribution options following termination of employment, Section 8.4 discusses the distribution options upon a Participant’s death, and Sections 8.5 and 8.6 set forth the in-service distribution options under the Plan, including the conditions for receiving a Hardship distribution. Parts 9 and 10 of the Agreement contain the elective provisions for the Employer to identify the timing of distributions and the permitted distribution events under the Plan.
Plan Distributions. The Company Employees shall not be eligible to participate in Buyer's defined benefit pension plan. The Company Employees shall be eligible to participate in Buyer's 401(k) plan from and after the Closing Date. In the event that the Company Employees are provided with the opportunity to elect eligible rollover distributions from their account balances under Parent's 401(k) Plan ( i.e. ,the Plan in which they participate as of the date of this Agreement), Buyer's 401(k) plan shall accept such rollovers from such electing Company Employees into their accounts under the Buyer's 401(k) plan.
Plan Distributions. The Plan Administrator is responsible for notifying PARS of any Participant’s eligibility for a distribution, and PARS accepts the Plan Administrator’s contractual delegation of distribution processing and certain escheatment responsibilities. PARS is entitled to rely on, and is under no duty whatsoever to audit the efficacy of the Agency’s procedures for identifying an employee’s change-in-status or eligibility for a distribution.
Plan Distributions. A Participant may receive a distribution of his/her vested Account Balance at the time and in the manner provided under this Section 8.
Plan Distributions. Notwithstanding the provisions of Section 1.52 regarding the treatment of Differential Pay, an individual shall be treated as having been severed from employment during any period the individual is performing service in the Uniformed Services for purposes of receiving a Plan distribution under Code §401(k)(2)(B)(i)(I). If an individual elects to receive a distribution while on military leave, the individual may not make Salary Deferrals or Employee After-Tax Employee Contributions under the Plan during the 6-month period beginning on the date of the distribution.
Plan Distributions. Notwithstanding the provisions regarding the treatment of Differential Pay and unless otherwise elected under AA §10-1(l), an individual may be treated as having been severed from employment during any period the individual is on active duty for a period of at least 30 days while performing service in the Uniformed Services for purposes of receiving a Plan distribution under Code §401(k)(2)(B)(i)(I). If an individual elects to receive a distribution while on military leave, the individual may not make Salary Deferrals or Employee After-Tax Employee Contributions under the Plan during the 6-month period beginning on the date of the distribution. However, a distribution under this provision that is also a Qualified Reservist Distribution is not subject to the 6-month suspension.
Plan Distributions. Notwithstanding any other provisions of this Article, distributions to this Trust or to any beneficiary of this Trust, of or from any employee benefit plan, qualified pension or profit sharing plan, individual retirement account (XXX), or similar plan, with respect to distributions under such plan or XXX to which this Trust may be entitled, may be paid out over a period in excess of the distribution periods otherwise applicable under the other provisions of this Article. See Section 5.10 regarding Trustee discretion to make plan and XXX instructions. If received over a period longer than the periods set forth in this Article, this Trust will continue as to the plan or XXX until all distributions are received, unless the Trustee in its discretion pursuant to Section 5.7 or 5.10 below, elects otherwise.
