Event of Forfeiture definition

Event of Forfeiture has the meaning set forth in Section 4.04.

Event of Forfeiture means with respect to a Participant who terminates employment, either the incurring of five consecutive One-Year Breaks in Service or a cash-out payment in full in a single lump sum of all of his vested Accrued Benefit, subject to the reinstatement of forfeitures requirements of Article V, Paragraph F. A Participant who terminates employment with no vested Accrued Benefit shall be deemed to have received a cash-out payment.

Event of Forfeiture means and shall be deemed to have occurred with respect to an Associate Member in the event that there occurs with respect to such Associate Member a Separation Event.

Examples of Event of Forfeiture in a sentence

• In the event that the Funder or its nominee has not remedied the Event of Forfeiture and/or paid all sums due and payable under clause 8.1.3(a) and (b) within 40 Working Days of the date of the Funder's notice, the Landlord shall be free to exercise its right of re-entry at any time thereafter.

• If applicable the Tenant will notify the Landlord within ten Working Days of the death of any surety or occurrence of an Event of Forfeiture (as defined in clause 8.2) to any surety, such notice to be given in writing.

• Amounts held in escrow pursuant to this Section 4.02 shall be irrevocably forfeited by an Associate Member from and after the date of any Event of Forfeiture with respect to such Associate Member.

• If the Event of Forfeiture is a Clause Z Event, such Associate Member’s Percentage Interest shall be reduced to zero, and the Percentage Interest in the LLC of the Managing Member shall, from and after the date of the Clause Z Event, be increased by an aggregate amount equal to the amount by which the Associate Member’s Percentage Interest is so reduced.

• If the Event of Forfeiture is a Clause Z Event, such Associate Member’s Percentage Interest and Pre-2007 Percentage Interest shall be reduced to zero, and the Percentage Interest and Pre-2007 Percentage Interest in the LLC of the Managing Member shall, from and after the date of the Clause Z Event, be increased by an aggregate amount equal to the amount by which the Associate Member’s Percentage Interest and Pre-2007 Percentage Interest are so reduced.

More Definitions of Event of Forfeiture

Event of Forfeiture means and shall be deemed to have occurred in the event that:

Event of Forfeiture has the meaxxxx set forth in Section 4.04.

Event of Forfeiture means, with respect to any Member, that such Member has failed to take any action required by, or has taken any action prohibited by, Section 8.1.

Event of Forfeiture means, with respect to any Member, that such Member has breached Section 8.1, and such breach has not been cured, if curable, within 15 days following notice by the Managing Member of such breach.

Event of Forfeiture means and shall be deemed to have occurred with respect to an Associate Member in the event that there occurs with respect to such Associate Member a Separation Event of the type described in clause (w), (x) or (z) of the definition of “Separation Event.” An Event of Forfeiture for an Associate Member whose relationship with the Employer has been terminated may thereafter occur if any Clause Z Event occurs with respect to such Associate Member.

Event of Forfeiture has the meanxxx set forth in Section 4.04.

Event of Forfeiture means the termination of the Employee's employment with the Employer pursuant to Paragraph 8.6 or 8.8 of this Agreement