Required Commencement Date Sample Clauses

Required Commencement Date. (1) Notwithstanding any contrary provision of the Plan, distribution of the Account balance of a Participant shall commence by April 1 of the calendar year next following the later of: (i) the calendar year on which the Participant attains age 70½ or (ii) the calendar year in which the Participant’s Settlement Date occurs (“Required Commencement Date”); provided, however, that the Required Commencement Date of a Participant who is a five-percent owner (as defined in Code Section 416) of an Employer or Related Company in the calendar year in which the Participant attains age 70½ shall be April 1 of the calendar year next following the calendar year which the Participant attains age 70½. (2) All distributions required under this subsection will be determined and made in accordance with the Treasury Regulations under Code Section 401(a)(9). (3) If the Participant dies before distributions begin, the Participant’s entire interest will be distributed in accordance with the otherwise applicable provisions of the Plan; provided, however, that in no event will such entire interest be distributed to the Designated Beneficiary later than December 31 of the calendar year containing the fifth anniversary of the Participant’s death, unless an election is made by the Designated Beneficiary involved to receive distributions in accordance with (A) or (B) below. Any such election must be made no later than the earlier of September 30 of the calendar year in which distributions would be required to begin under this Subsection (d)(3), or, if applicable, by September 30 of the calendar year which contains the 5th anniversary of the Participant’s (or if applicable, Surviving Spouse’s) death. (A) If the Participant’s Surviving Spouse is the Participant’s sole Designated Beneficiary, then distributions to the Surviving Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later. (B) If the Participant’s Surviving Spouse is not the Participant’s sole Designated Beneficiary, then distributions to the Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died. (C) If there is no Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by Dece...

Required Commencement Date. The April 1 of the calendar year following the calendar year in which the Participant attains age seventy and one-half (70 1/2).

Required Commencement Date. 16th May 2022 UK Research and Innovation (UKRI) has established the target for the organisation to reach zero carbon status by 2040. The Medical Research Council (MRC) wants to set out its strategy in how to achieve this target in terms of its facilities. We felt it prudent to undertake a feasibility study for our estate, assessing each and every building to support our thinking on strategic management of our estate. In understanding the technical and financial implications for transforming our estate, we need to consider the impact on operations and research/ business continuity and associated risks.