TERMINATION OF ELECTION Sample Clauses
TERMINATION OF ELECTION. The Director’s election to defer compensation shall continue in effect, pursuant to the terms of this Agreement unless and until the Director files with the Association a Notice of Discontinuance (Exhibit B attached hereto). A Notice of Discontinuance shall be effective if filed at least twenty (20) days prior to any January 1st, April 1st, July 1st or October 1st. Such Notice of Discontinuance shall be effective commencing with the January 1st, April 1st, July 1st or October 1st following its filing, whichever applies, and shall apply only with respect to the Director’s compensation attributable to services not yet performed.
TERMINATION OF ELECTION. A Participant shall have the right to completely terminate an election under this section 5.3 at any time, and any such termination shall become effective as of the first day of the first pay period following the date he or she timely files a properly completed Election Form terminating such election. Any Participant whose status as an Eligible Employee terminates shall be deemed to have completely terminated his or her election, if any, under this section 5.3 as of the date the Participant's status as such so terminates.
TERMINATION OF ELECTION. A Trustee’s Election shall continue in effect until terminated by the Trustee in writing. A termination of an Election shall take effect on the first day of the calendar year following the receipt of the notice of termination by the Treasurer. A Trustee may make an Election for any subsequent year in accordance with Section 3.2.1.
TERMINATION OF ELECTION. Pankuch's initial Electixx xx Xxxerral shall continue in effect, pursuant to the terms of the Election of Deferral, unless and until Pankuch files with the Bxxx x Xotice of Discontinuance or a subsequent Election of Deferral specifying a different amount of deferral. Each Election of Deferral filed subsequent to the initial Election of Deferral shall similarly continue in effect until Pankuch files a Notice ox Xxxxxntinuance or a new Election of Deferral. Any new Election of Deferral, to be effective, must be filed at least thirty (30) days prior to the beginning of the Fiscal Year in which deferral is sought. A Notice of Discontinuance shall be effective if filed at least twenty (20) days prior to any January 1st, April 1st, July 1st or October 1st. Such Notice of Discontinuance shall be effective commencing with the January 1st, April 1st, July 1st or October 1st following its filing, whichever applies, and shall apply only with respect to Pankuch's Compensation axx xxxxxxs attributable to services not yet performed.
TERMINATION OF ELECTION. The Company's election to be taxed as an S corporation under the provisions of the Code shall terminate upon either of the following events: (i) the approval of such termination by written consent of the holders of a majority of the outstanding Company common shares at any time, or (ii) upon the closing of an IPO. After such termination, if you are a holder of Company common shares, you shall file such documents with the IRS and any other authorities consenting to the Company's termination of its S corporation election. If the S corporation election is terminated, but this Section 8 is not terminated, all references in this Section 8 to actions required or permitted in connection with the S corporation election shall be of no further force or effect, including, without limitation, all of the provisions of this Section 8 providing restrictions relating to the Company's maintenance of its status as an S corporation, this Section 8.(g) and Section 9.
TERMINATION OF ELECTION. M-GAB shall have taken all necessary steps, including obtaining shareholder approval and making all necessary governmental filings, to terminate its election to be treated as a Business Development Company under the Investment Company Act of 1940;
TERMINATION OF ELECTION. The Employee's initial Election of Deferral shall continue in effect, pursuant to the terms of the Election of Deferral, unless and until the Employee files with the Corporation a Notice of Discontinuance or a subsequent Election of Deferral specifying a different amount of deferral. Each Election of Deferral filed subsequent to the initial Election of Deferral shall similarly continue in effect until the Employee files a Notice of Discontinuance or a new Election of Deferral. Any new Election of Deferral, to be effective, must be filed at least twenty (20) days prior to the beginning of the Plan Year in which deferral is sought. A notice of Discontinuance shall be effective if filed at least twenty (20) days prior to any 1st day of the first month, 1st day of the fourth month, 1st day of the seventh month, or 1st day of the tenth month of the Plan Year. Such Notice of Discontinuance shall be effective commencing with the 1st day of the first month, 1st day of the fourth month, 1st day of the seventh month, or 1st day of the tenth month of the Plan Year following its filing, whichever applies, and shall apply only with respect to the Employee's Compensation attributable to services not yet performed.
TERMINATION OF ELECTION. Nothing in this Agreement shall be construed to prevent the Corporation or persons holding a majority of the Corporation's voting common stock from terminating the Corporation's S Election, if the Corporation's directors determine that such termination is desirable.
TERMINATION OF ELECTION. The Director’s election to defer compensation shall continue in effect, pursuant to the terms of this Agreement unless and until the Director files with the Bank a Notice of Discontinuance (Exhibit C attached hereto). A Notice of Discontinuance shall be effective if filed at least five (5) days prior to any January 1st. Such Notice of Discontinuance shall be effective commencing with the January 1st following its filing, whichever applies, and shall apply only with respect to the Director’s compensation attributable to services not yet performed.
TERMINATION OF ELECTION. Termination by revocation—(1) In general. An election made under section 1362(a) is terminated if the corporation revokes the election for any taxable year of the corporation for which the election is effective, including the first taxable year. A revocation may be made only with the consent of share- holders who, at the time the revocation is made, hold more than one-half of the number of issued and outstanding shares of stock (including non-voting stock) of the corporation. See § 1.1362– 6(a) for rules concerning the time and manner of revoking an election made under section 1362(a).