Responsibility for Distributions. Distribution of the assets of the Custodial Account shall be made at such time and to such person or entity as the Student shall elect by written order to the Custodian. The Student will be responsible for (and the Custodian will have no responsibility for) including and reporting any distribution from the Custodial Account in the gross income of the Student in a manner consistent with the requirements of Code section 72 and Code Section 530 (which sections provide that distributions shall be considered to consist partly of principal contributions and partly of earnings and appreciation (or depreciation) in value) and any other applicable Code requirements. In general, the portion of a withdrawal considered to be principal is not subject to income tax, and the portion considered to be earnings and appreciation is generally subject to income tax and a potential penalty tax unless such withdrawal is used to pay the qualified education expenses of the Student (as defined in Code Section 530) and such qualified education expenses for the tax year are not less than the aggregate withdrawals from the Custodial Account during the tax year. In addition, such Code sections provide that, if the aggregate withdrawals exceed the qualified education expenses for the Student for that year, the amount that must be included as income for tax purposes is determined by first determining the ratio that the qualified education expenses bear to the actual withdrawal. The portion of the withdrawal that is potentially subject to taxation – the amount of earnings or appreciation – is then multiplied by that percentage amount. The resultant sum is the amount excludable from income. Notwithstanding the foregoing general information about the tax treatment of distributions from the Custodial Account, the Student will be responsible for properly reporting and, to the extent applicable, paying income taxes or applicable penalties on, any distribution from the Custodial Account.
Responsibility for Distributions. The Settlement Administrator will be responsible for making all distributions required under this Agreement. The Settlement Administrator will have authority to make the computations necessary to determine the Claimant Award for each Eligible Claimant, as well as the authority to make all decisions reasonably necessary for the orderly implementation and administration of this Agreement and the distribution of all payments prescribed in this Agreement. The Settlement Administrator shall have no liability for any computation or Settlement Administration decision made in good faith and not inconsistent with the express terms of this Agreement.
Responsibility for Distributions. Newsvine and/or the claims administrator will be responsible for making all distributions required under this Agreement. Newsvine and the claims administrator will have authority to make the computations necessary to determine the Claim Payment for each Eligible Claimant, as well as the authority to make all decisions reasonably necessary for the orderly implementation and administration of the Settlement Agreement and the distribution of all payments prescribed in this Agreement. Subject to the dispute resolution provisions of Paragraph 4.09 below, neither Newsvine nor the claims administrator shall have any liability for any computation or settlement administration decision made in good faith and not inconsistent with the express terms of this Agreement.
Responsibility for Distributions. The Parties have agreed on the computations to determine the Settlement Payment for each Class Member, subject to confirmation by CPT and approval of Class Counsel. No later than thirty (30) days before the Distribution Date, CDR and Class Counsel shall provide CPT with the names and last known addresses of Class Members, and a calculation of the Settlement Payment payable to each Class Member, in an Excel spreadsheet or Access database. CPT shall within a reasonable time confirm the calculations of Settlement Payments owed to each Class Member, and take necessary steps to confirm or update Class Member addresses as described in Section 4.03, and will provide, no later than ten (10) days before the Distribution Date, a spreadsheet of final Settlement Payment amounts and addresses to CDR and Class Counsel. Should Class Counsel timely object to the Settlement Payment amount or computations, CDR and Class Counsel promptly shall seek to resolve any dispute as to these computations. If they cannot reach agreement within five (5) days of CDR’s receipt of a timely objection from Class Counsel, the Parties shall submit their disagreement to the Court for disposition. CPT will be responsible for making all distributions required under this Agreement. CPT will have authority to make all decisions reasonably necessary for the orderly implementation and administration of the Settlement Agreement and the distribution of all payments prescribed in this Agreement. CPT shall have no liability for any settlement administration decision made in good faith and not inconsistent with the express terms of this Agreement.
Responsibility for Distributions. Clearwire will be responsible for making all distributions required under this Agreement. Clearwire will have authority to make the computations necessary to determine the Distribution Amount for each Eligible Claimant, as well as the authority to make all decisions reasonably necessary for the orderly implementation and administration of the Settlement Agreement and the distribution of all payments prescribed in this Agreement. Clearwire shall have no liability for any computation or settlement administration decision made in good faith and not inconsistent with the express terms of this Agreement.
Responsibility for Distributions. Swedish will be responsible for making all distributions required under this Agreement. Swedish will have authority to make the computations necessary to determine the Claim Payment for each Eligible Claimant, as well as the authority to make all decisions reasonably necessary for the orderly implementation and administration of the Settlement Agreement and the distribution of all payments prescribed in this Agreement. Swedish shall have no liability for any computation or settlement administration decision made in good faith and not inconsistent with the express terms of this Agreement.
Responsibility for Distributions. Distribution of the assets of the Custo- dial Account shall be made at such time and to such person or entity as the Student shall elect by written order to the Custodian. The Student will be responsible for (and the Custodian will have no responsibility for) including and reporting any distribution from the Custodial Account in the gross income of the Student in a manner consistent with the re- quirements of Code section 72 and Code Section 530 (which sections provide that distributions shall be considered to consist partly of princi- pal contributions and partly of earnings and appreciation (or deprecia- tion) in value) and any other applicable Code requirements. In general, the portion of a withdrawal considered to be principal is not subject to income tax, and the portion considered to be earnings and appreciation is generally subject to income tax and a potential penalty tax unless such withdrawal is used to pay the qualified education expenses of the Student (as defined in Code Section 530) and such qualified education expenses for the tax year are not less than the aggregate withdrawals from the Custodial Account during the tax year. In addition, such Code sections provide that, if the aggregate withdrawals exceed the qualified education expenses for the Student for that year, the amount that must Xxxxxxxxx Investment Management be included as income for tax purposes is determined by first determin- ing the ratio that the qualified education expenses bear to the actual withdrawal. The portion of the withdrawal that is potentially subject to taxation – the amount of earnings or appreciation – is then multiplied by that percentage amount. The resultant sum is the amount excludable from income. Notwithstanding the foregoing general information about the tax treat- ment of distributions from the Custodial Account, the Student will be responsible for properly reporting and, to the extent applicable, paying income taxes or applicable penalties on, any distribution from the Cus- todial Account.
Responsibility for Distributions. The Custodian shall, from time to time, in accordance with instructions in writing from the Employee, made distributions out of the Account to the Employee in the manner and amounts as may be specified in such instructions. Notwithstanding any provision of this Article to the contrary, the Custodian assumes and shall have no responsibility to make any distribution to the Employee (or to the Employee's Beneficiary if the Employee is deceased) unless and until such written instructions specify the occasion for such distribution, the elected manner of distribution, and any other information that may be required. Prior to making any such distribution from the Account, the Custodian shall be furnished with any and all applications, certificates, tax waivers, signature guarantees, and other guarantees, and other documents (including proof of any legal representative's authority) deemed necessary or advisable by the Custodian, but the Custodian shall not be liable for complying with written instructions which appear on their face to be genuine, or for refusing to comply if not satisfied such instructions are genuine, and assumes no duty of further inquiry. Neither the Custodian, the Investment Provider, nor any of their respective affiliates shall have any duty: (a) to ascertain whether a Rollover or a Transfer is properly made in accordance with applicable provisions of the Code or any Plan or other retirement arrangement; (b) to ascertain whether any distribution is sufficient for purposes of the rules described in this Article V; (c) to make distributions in the form of an annuity contract under this Article V; (d) to confirm the existence of a Disability; (e) to pay any tax penalty or other damages resulting from any inadvertent failure by the Custodian to make a distribution under this Agreement; or (f) to determine the amount, character, or timing of any distribution to the Employee or any Beneficiary or any other person (in particular, whether and to what extent distribution is required under Section 401(a)(9) of the Code or whether distribution must be made in the form of a qualified joint and survivor annuity or a qualified preretirement survivor annuity under the spousal survivor annuity requirements of ERISA). Upon receipt of proper written instructions as required above, the Custodian shall cause the assets of the Account to be distributed in cash, as specified in such written order. If the Employee (or, following the Employee's death, the Employee's ...
Responsibility for Distributions. Except to the extent otherwise -------------------------------- expressly provided herein, Buyer shall not have any responsibility to distribute all or any portion of the Escrow Fund to the Shareholders but shall provide written instructions to the Escrow Agent to do so.
