Procedures at Contract Termination Date, Except at Plan Termination Sample Clauses

Procedures at Contract Termination Date, Except at Plan Termination. The provisions of this section will apply to Contract Termination for any reason excluding termination of the Plan. After the Contract Termination Date has been declared, no benefit payment will commence, no Transfers will be made, no payment option may be elected by a Participant, and no Contributions will be accepted under the provisions of the Group Annuity Contract. If a Contract Termination Date has been declared and there are outstanding charges and fees, if any, as set forth in the Group Annuity Contract Section 7, Contract Charges and Fees and/or the Group Annuity Contract Schedule of Terms and Fees, as applicable, the Company will on the Contract Termination Date debit each account with its share of the amount of outstanding expenses. No later than 30 days after the Contract Termination Date, provided that the Company has received payment of the Loss of Interest adjustment, if any, and the Contract Termination Charge, the Company will pay to any one trustee or investment provider named by the Group Contractholder one sum equal to the value of all moneys held in the accounts. Notwithstanding the above, if the Company is instructed to bill the Group Contractholder for the Contract Termination Charge, if applicable, and the Group Contractholder has not paid the Contract Termination Charges within 30 days of the instruction date, the Group Contractholder is deemed to have instructed the Company to pay to any trustee or investment provider named by the Group Contractholder one sum equal to:
Sample 1
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Related to Procedures at Contract Termination Date, Except at Plan Termination

  • Effective Date of Agreement; Termination (a) This Agreement shall become effective when the parties hereto have executed and delivered this Agreement.

  • Termination Date, Etc “Termination Date” shall mean in the case of the Executive’s death, his date of death, or in all other cases, the date specified in the Notice of Termination subject to the following:

  • Effective Date; Termination This Agreement shall become effective upon execution by all of the Parties and shall continue in force until terminated in accordance with Clause 8.2(a).

  • CONTRACT TERMINATION This Contract will terminate:

  • Effective Date Term and Termination A. This Agreement covers individual ANNUITY CONTRACTs issued by the CEDING COMPANY that:

  • Termination Giving Rise to a Termination Payment If there is a Covered Termination by the Executive for Good Reason, or by the Company other than by reason of (i) death, (ii) disability pursuant to Section 11, or (iii) Cause, then the Executive shall be entitled to receive, and the Company shall promptly pay, Accrued Benefits and, in lieu of further base salary for periods following the Termination Date, as liquidated damages and additional severance pay and in consideration of the covenant of the Executive set forth in Section 13(a), the Termination Payment pursuant to Section 8(a).

  • Effective Date of Termination Executive’s employment will terminate on the 30th day after Executive gives written notice to the Company stating that Executive is resigning his employment with the Company for any reason other than Good Reason, unless the Company waives in writing all or part of this notice period (in which case the termination of employment is effective as of the date of the waiver).

  • Normal Termination Date Unless earlier terminated pursuant to Section 3(b) or Section 5, the Options shall terminate on the tenth anniversary of the Grant Date (the “Normal Termination Date”), if not exercised prior to such date.

  • Earlier Termination Your employment hereunder shall terminate prior to the Initial Term (or any renewal term, in the event of renewal) on the following terms and conditions:

  • Effective Date; Termination of Prior Intercompany Tax Allocation Agreements This Agreement shall be effective as of the Effective Time. As of the Effective Time, (i) all prior intercompany Tax allocation agreements or arrangements solely between or among BGC Partners and/or any of its Subsidiaries shall be terminated, and (ii) amounts due under such agreements as of the date on which the Effective Time occurs shall be settled. Upon such termination and settlement, no further payments by or to the BGC Group, or by or to the Newmark Group, with respect to such agreements shall be made, and all other rights and obligations resulting from such agreements between the Companies and their Affiliates shall cease at such time. Any payments pursuant to such agreements shall be disregarded for purposes of computing amounts due under this Agreement; provided, that to the extent appropriate, as determined by BGC Partners, payments made pursuant to such agreements shall be credited to the Newmark Entities or the BGC Entities, respectively, in computing their respective obligations pursuant to this Agreement, in the event that such payments relate to a Tax liability that is the subject matter of this Agreement for a Tax Period that is the subject matter of this Agreement.

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