Distributions and Withdrawals Clause Samples

Distributions and Withdrawals. No Partner shall be entitled to make withdrawals from the Partnership except to the extent of distributions made pursuant to the express provisions of this Agreement. Distributions may be made in cash or in property, or partly in each, but no Partner shall have the right to require that a distribution be made other than in immediately available funds.

Distributions and Withdrawals. Subject to applicable laws and regulations and upon the direction of the Employer or Participant, as the case may be, State Street shall in accordance with the terms, as applicable, of the ABA Members Plans, Individually Designed Plans that are Individual Recordkeeping Plans and the Trusts, distribute the account balance or accrued benefit of each Participant. State Street shall make available to each Participant such arrangements as are necessary for the payment of benefits in accordance with applicable law and with the terms, as applicable, of the ABA Members Plans, Individually Designed Plans that are Individual Recordkeeping Plans, and the Trusts. In the case of an Individually Designed Plan that is an Aggregate Recordkeeping Plan, State Street shall make all payments to the trustee of such Plan. In accordance with the applicable Service Standards, State Street shall, subject to Section 11.01, provide each Investor under an Individual Recordkeeping Plan with a written confirmation of each distribution and any withdrawal from the assets for which such Investor is responsible.

Distributions and Withdrawals. A. Upon Separation from Service, attainment of Normal Retirement Age, death, or Disability the permissible forms of distribution under the Plan are as follows: 1. lump sum pursuant to Plan Section 7.08(a)(1); 2. Partial payment; 3. Qualified Joint and Survivor Annuity as described in Article VIII of the Plan; or 4. Monthly, Quarterly, Annual, or Semi-Annual Installment Payments. 5. Champion International Corporation stock is distributable in cash or in kind, at the election of Participant. If Participant fails to make an election, stock will be distributed in cash.

Distributions and Withdrawals. No Member shall be entitled to make withdrawals from the Company except to the extent of Distributions made pursuant to express provisions of this Agreement. Distributions may be made in cash or in property or partly in each. No Member shall have the right to require that a Distribution be made other than in cash, except as expressly provided otherwise in this Agreement.

Distributions and Withdrawals. The Employer is responsible for obtaining the ----------------------------- required completed Plan withdrawal documentation from the Participant and the spouse, if applicable, for any benefits payable under the Plan. The Employer must provide the Participant, beneficiary and spouse, if

Distributions and Withdrawals. Distributions in cash or in kind, whether of profits or otherwise, shall be made from time to time to the extent a majority-in-interest of the Partners shall agree that such assets are available for distribution and shall be made to the Partners in proportion to each Partner’s respective Capital Account, as revised from time to time, unless a majority-in-interest of the Partners decides otherwise.

Distributions and Withdrawals. Distribution, or withdrawals, of funds from the MSA may be made via ACH at any time upon the direction or instruction of you or your authorized Agent to Piedmont via the Custodian. Distributions may be in any amount, however, you agree not to initiate any withdrawal in excess of the funds available in your MSA, including the balance less any holds applicable to funds in the MSA as described in the MSA Documentation.

Distributions and Withdrawals. A. The permissible forms of distribution under the Plan shall be those included in Plan Section 7.08(a)(1)-(3). The joint and survivor annuity provisions set forth in Appendix A of the basic plan document shall apply. Therefore spousal consent will be required for any distribution, loan or withdrawal under the Plan. B. Financial Hardship 1. A Participant may request a withdrawal from his Salary Deferral Account for purposes of Financial Hardship. The amount of the withdrawal will be limited in accordance with Plan Section 7.11(f). The permissible reasons for obtaining a Financial Hardship Withdrawal are limited to those permitted under Plan Section 7.11(b). The determination of resources readily available shall be based on the provisions described in Plan Section 7.11(e). C. Inservice Withdrawals 1. A Participant may withdraw all or a portion of his Rollover Account at any time. 2. A Participant may withdraw all or a portion of his Nondeductible Employee Account at any time. 3. Upon attainment of age 591/2, a Participant may withdraw 100% of his vested Account balances under the Plan.

Distributions and Withdrawals. (a) Distributions from your Account may be made at any time upon your direction. Only your balance in the Bank Portion of your Account is eligible for withdrawal or distribution. Any assets invested in the Funds must be transferred to the Bank Portion before such assets are eligible for withdrawal or distribution. The Custodian is not responsible for determining whether the distributions for the Account Owner, spouse and dependents are for qualified medical expenses as defined in Section 213(d) of the Code. In situations where the requested withdrawal of funds is greater than the available balance in the Bank Portion, the Custodian will not permit the withdrawal or transfer. If your Account becomes overdrawn for any reason, you agree to make an immediate deposit of funds sufficient to cover the overdraft. In such cases where your balance in the Bank Portion becomes overdrawn, we may charge a fee for such overdrafts. (b) The Custodian reserves the right to limit the frequency and minimum dollar amount of withdrawals. The Custodian may request any withdrawals or transfers must be in writing on the form provided by the Custodian. The Account Owner is responsible for making all withdrawals in accordance with the Code and applicable regulations. Distributions shall be made in accordance with this Agreement and applicable law in the event of the Account Owner’s death. The Custodian shall not be liable for any penalties or taxes related to withdrawals or distributions from the Account. (c) Each Account Owner will be issued a debit card(s) to access the funds available in the Bank Portion. The debit card and accompanying cardholder agreement which describes the terms and conditions governing use of the card (including all limitations of liability) will arrive under separate cover and are incorporated into and made part of this Agreement. (d) The Custodian may permit you to appoint, through written notice acceptable to the Custodian, an authorized agent to act on your behalf with respect to this Agreement (e.g., attorney-in-fact); however, the Custodian has no duty to determine the validity of such appointment or any power of attorney or other instrument appointing such authorized agent. The Custodian shall not be responsible for losses of any kind that may result from direction, actions or failures to act by your authorized agent, and you agree to reimburse the Custodian for any loss the Custodian may incur as a result of such directions, actions or failures to ac...