Common use of Termination of Participating Plan Clause in Contracts

Termination of Participating Plan. Upon receipt of notice from the Participant or Employer that the Participating Plan is terminated in whole or in part, assets attributable to the wholly or partially terminated Participant’s account in the Participating Plan shall be segregated in accordance with Article VIII and held and/or disposed of by the Master Custodial Administration Agreement Administrator’s instructions to the Custodian in accordance with the written direction of the Employer. The Master Custodial Administration Agreement Administrator may condition its instructions to the Custodian for the delivery, transfer or distribution of any assets upon the Master Custodial Administration Agreement Administrator’s receiving assurances satisfactory to it that the approval of appropriate governmental or other authorizes has been secured and that all notices and other procedures required by applicable law have been complied with.