Procedures at Contract Termination Due to Plan Termination Sample Clauses

Procedures at Contract Termination Due to Plan Termination. The provisions of this section will apply to Contract Termination due to termination of the Plan for any reason. In the event that the Employer terminates the Plan for any reason, the Group Contractholder shall notify the Company of the Plan Termination Date and the date upon which the final Plan contributions will be remitted to the Company. The Contract Termination Charge as described in the Group Annuity Contract Section 7, Contract Charges and Fees, and/or the Group Annuity Contract Schedule of Terms and Fees will apply. The Code requires all participant accounts to be 100% vested upon Plan termination and the forfeiture account, if any, to be allocated in accordance with the terms of the Plan upon termination. After the Company has been notified of a Plan termination, 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. All amounts under the Group Annuity Contract shall be paid in a lump sum to each Participant or Beneficiary by reason of Plan Termination upon the Company's receipt of certain representations and instructions from the Group Contractholder, and all applicable charges and fees, if any, as described in the Group Annuity Contract Section 7, Contract Charges and Fees, and/or the Group Annuity Contract Schedule of Terms and Fees, will apply. The Group Contractholder shall provide to the Company evidence or representations that:
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Related to Procedures at Contract Termination Due to Plan Termination

  • CONTRACT TERMINATION This Contract will terminate:

  • Performance Termination Commencing with the expiration of Fiscal Year 2014, in the event that Adjusted NOI does not equal or exceed the Performance Threshold, then the Tenant shall have the option to terminate this Agreement by providing a ninety (90) day written notice to the Management Company. To terminate this Agreement, Tenant must deliver written notice of such election to Management Company no later than sixty (60) days following Tenant’s receipt of the annual financial reports for such Fiscal Year.

  • 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).

  • Company Termination The Company may at any time in its sole discretion terminate (a “Company Termination”) this Agreement and its right to initiate future Tranches by providing 30 days advanced written notice (“Termination Notice”) to Investor.

  • Termination Due to Change in Control If the Company terminates Executive's employment without Cause (and for reasons other than death or Disability) in conjunction with a Change in Control (as defined below), Executive shall be entitled to receive all accrued but unpaid salary and benefits through the date of termination plus the Change in Control Benefit (as defined below).

  • Trade Settlement at Termination Termination will be without prejudice to the completion of any transaction already initiated. On, or after, the effective date of termination, the Sub-Adviser shall be entitled, without prior notice to the Adviser or a Fund, to direct the Fund’s custodian to retain and/or realize any assets of the Fund as may be required to settle transactions already initiated. Following the date of effective termination, any new transactions will only be executed by mutual agreement between the Adviser and the Sub-Adviser.

  • Plan Terminations Promptly and in any event within two Business Days after receipt thereof by any Loan Party or any ERISA Affiliate, copies of each notice from the PBGC stating its intention to terminate any Plan or to have a trustee appointed to administer any Plan.

  • Plan Termination The Plan Sponsor reserves the right to terminate this Plan in accordance with one of the following, subject to the restrictions imposed by Section 409A and authoritative guidance:

  • Cross-Termination Notwithstanding any other provision of this Agreement, (1) BNY Mellon may terminate this Agreement by written notice to Voya if the accounting agreement between the Voya Funds and The Bank of New York Mellon is terminated by either the Voya Funds or The Bank of New York Mellon, effective on the date of termination of such accounting agreement, and (2) Voya may terminate this Agreement if the Voya Funds terminate their accounting agreement with The Bank of New York Mellon for cause, effective on the date of termination of such accounting agreement.

  • Duration Termination This Agreement shall become effective as of the date first set forth above. Unless terminated in accordance with this Section 9, the Agreement shall remain in full force and effect for two (2) years from the date hereof. Subsequent to such initial period of effectiveness, this Agreement shall continue in full force and effect for period(s) of one (I) year thereafter unless terminated by either party upon ten (10) days' written notice to the other.

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