Common use of Withdrawal by Member Clause in Contracts

Withdrawal by Member. A Member may withdraw from participation in the entire Trust on the following terms and conditions: (a) Except as provided in this section, any Member which intends to withdraw from participation in the Trust must give at least ninety (90) days advance written notice to the Board of Trustees. Upon a Member’s withdrawal from the Trust, any Trustees who are employees of such Member shall no longer serve as Trustees. (b) Upon withdrawal, the Member shall be deemed to have withdrawn from participation in the entire Trust. Upon the effective date of withdrawal, the Member’s Participants shall cease to participate in the Plan, provided, that if required by law, a Participant’s benefits may be extended pursuant to, if and to the extent applicable, the terms and provisions of the Plan, including those Participants who have filed a claim for or are receiving benefits under the terms of the Plan prior to the effective date of the Member’s withdrawal, in which case benefits shall continue subject to the withdrawing Member’s payment of required contributions. (c) Upon withdrawal, the Board of Trustees also has the right to notify the Participants of such withdrawing Member that such Member’s participation in the Plan and Trust has ceased or will cease. (d) In the event of a Member’s withdrawal pursuant to this section, such withdrawing Member shall have no right to any of the assets, income or reserves of the Trust at any time, nor shall such Member have any right to a refund or rebate of any of its contributions to the Trust.

Withdrawal by Member. A Member may withdraw from participation in the entire Trust on the following terms and conditions: (a) Except as provided in this sectionSection, any Member which intends to withdraw from participation in the Trust must give at least ninety (90) days advance written notice to the Board of TrusteesTrust Committee. Upon a Member’s withdrawal from the Trust, any Trustees who are employees of such Member shall no longer serve as Trustees. (b) Upon withdrawal, the Member shall be deemed to have withdrawn from participation in the entire Trust. Upon the effective date of withdrawal, the Member’s Participants shall cease to participate in the Plan, provided, that if required by law, a Participant’s benefits may be extended pursuant to, if and to the extent applicable, the terms and provisions of the Plan, including those Participants who have filed a claim for or are receiving benefits under the terms of the Plan prior to the effective date of the Member’s withdrawal, in which case benefits shall continue subject to the withdrawing Member’s payment of required contributions. (c) Upon withdrawal, the Board of Trustees Trust Committee also has the right to notify the Participants of such withdrawing Member that such Member’s participation in the Plan and Trust has ceased or will cease. (d) In the event of a Member’s withdrawal pursuant to this sectionSection, such withdrawing Member shall have no right to any of the assets, income or reserves of the Trust at any time, nor shall such Member have any right to a refund or rebate of any of its contributions to the Trust.