Payment Eligibility Date definition

Payment Eligibility Date means the first day of the month following the end of the calendar quarter in which a Participant terminates employment for any reason with all Employers or dies.

Payment Eligibility Date means the first day of the month following the day on which a Participant terminates employment or dies.

Payment Eligibility Date means the first day of the month following the end of the quarter following the quarter in which a Participant terminates employment or dies.

Examples of Payment Eligibility Date in a sentence

• In the event that the Committee is unable to locate a Participant or Beneficiary within two years following the Participant’s Payment Eligibility Date, the amounts allocated to the Participant’s Deferral Account shall be forfeited.

• Such installment payments shall commence on the Participant's Payment Eligibility Date or as soon thereafter as is practicable and shall continue on the first day of each of the 59 calendar quarters thereafter.

• If the Participant has elected payment in installments with respect to a Plan Year Subaccount, the first installment shall be paid within 90 days following the Payment Eligibility Date, and each subsequent quarterly installment shall be paid within 90 days following the first day of the applicable calendar quarter.

• The amount credited to a Participant's Deferral Account and the amount credited to his or her Company Matching Account shall be paid to the Participant (or, in the case of his or her death, Beneficiary) in the form of a cash lump sum payment on his or her Payment Eligibility Date.

• A Retirement Payment Eligibility Date that has been so extended may be further extended by submitting another Election Form in the manner and at the times specified in this Section 6.1.4. In no event, however, will a Plan payment be made more than thirty years following the initial Retirement Eligibility Date.

More Definitions of Payment Eligibility Date

Payment Eligibility Date means the first day of the month following the day on which a Participant terminates employment or dies; provided, however, that if a Participant is a Key Employee and his or her employment terminates for any reason other than death, then the Payment Eligibility Date shall mean the last day of the six-month period immediately following the Participant’s termination of employment (or, if the Participant dies prior to the end of such six-month period, the date of the Participant’s death). Notwithstanding the foregoing, a termination of employment shall not be deemed to have occurred for any purpose under the Plan unless such termination of employment constitutes a “separation from service” as defined under Section 409A (or other applicable section) of the Code and any regulations promulgated thereunder.

Payment Eligibility Date means (1) with respect to a Participant who is not a Key Employee, the first day of the first calendar quarter following the termination of the Participant’s employment with the Company, or (2) with respect to a Participant who is a Key Employee, the first day of the seventh month following the termination of the Participant’s employment with the Company.

Payment Eligibility Date means the date elected by the Participant pursuant to Section 3.1(h).

Payment Eligibility Date means the first day of the month following the end of the calendar quarter in which a Participant ceases to provide service to the Bank as an Eligible Director, incurs a Disability or dies.

Payment Eligibility Date means the first day of the month following the end of the calendar quarter in which a Participant ceases to be employed by the Bank, incurs a Disability or dies.

Payment Eligibility Date means the first day of the month following the end of the calendar quarter in which a Participant has a Separation from Service with the Bank for any reason, including by reason of Disability or death, subject to the provisions of Section 3.1(h).

Payment Eligibility Date means the first day of the month following the calendar quarter in which a Participant terminates employment or dies, or if not such date, as soon as administratively possible thereafter.