RIGHTS OF PARTICIPATING EMPLOYER. Any provision in this Plan to the contrary notwithstanding, any entity which adopts this Plan by execution of a Participation Agreement, participates in the Plan as a Participating Employer effective as of the date of such adoption and as modified from time to time, with such participation conditioned on the timely payment by the Participating Employer of its proportional share of premiums, benefits and/or contributions under the Plan, and as required by the Association, and on the timely payment by the Participating Employer of its proportional share of expenses resulting from administration of the Plan. For the purpose of this Plan, each Participating Employer, by adopting the Plan, irrevocably designates the Association as its agent.
RIGHTS OF PARTICIPATING EMPLOYER. Any provision in this Plan to the contrary notwithstanding, any entity which adopts this Plan by execution of a Participation Agreement, participates in the Plan as a Participating Employer effective as of the date of such adoption and as modified from time to time, with such participation conditioned on the timely payment by the Participating Employer of its Participant Annual Deferrals and Employer Contributions under the Plan (if any). The Participating Employer has no power or obligation to amend the Plan or consent to any amendment made by the Association, and agrees to be bound by all the provisions, conditions, and limitations of the Plan, as amended from time to time, as fully as if the Participating Employer was an original party to the Plan. For the purpose of this Plan, each Participating Employer, by adopting the Plan, irrevocably designates the Association as its agent.
