Common use of Administrative Simplification Clause in Contracts

Administrative Simplification. Notwithstanding any provision of this Agreement to the contrary, during any period in which no Loan is outstanding the Trustee shall not be required to maintain the Transition Fund, the Suspense Fund, or the Dividend Fund. In the event that no Transition Fund is maintained at any time when an Employer ESOP Contribution is received by the Trustee or a forfeiture arises under the ESOP Feature, the Trustee shall deposit such contribution and hold such forfeiture in the ESOP Fund. In the event that no Dividend Fund is maintained at any time when a dividend is paid with respect to Shares, such dividend shall, subject to the provisions of Section 10.13, be held in the ESOP Fund and credited to the respective Cash Accounts of Participants, former Participants, and Beneficiaries in proportion to the balances of their Stock Accounts as of the record date for such dividend.