Effect of Adoption Sample Clauses

Effect of Adoption. Upon the adoption of the Plan by an adopting business entity as heretofore provided, the adopting business entity shall be an Employer hereunder in all respects. Each adopting business entity, as a condition of continued participation in the Plan, delegates to the Principal Sponsor the sole power and authority over all Plan matters except that the board of directors of each adopting business entity shall have the power to amend this Plan Statement as applied to it by establishing a successor plan to which assets and liabilities may be transferred as provided in Section 9.3 and to terminate the Plan as applied to it. Each reference herein to the Employer shall include the Principal Sponsor and all adopting business entities unless the context clearly requires otherwise.
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Effect of Adoption. Upon the adoption of the Plan by an adopting business entity as heretofore provided, the adopting business entity shall be an Employer hereunder in all respects. Each business entity listed in Schedule I and each other adopting business entity, as a condition of continued participation in the Plan, delegates to the Company the sole power and authority: (a) To terminate the Plan (except that each adopting business entity shall have the power to terminate the Plan as applied to it); to amend the Plan (except that each adopting business entity shall have the power to amend the Plan as applied to it by establishing a successor plan to which assets and liabilities may be transferred as provided in Section 10.3); (b) To appoint, remove and accept the resignation of a Trustee; to appoint or remove members of the Benefits Administration Committee and the Retirement Investment Committee; and to act as the plan administrator; (c) To direct the Trustee to return an Employer contribution that was made by mistake or which is not deductible;
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Effect of Adoption. If University, in its sole discretion, adopts the Committee recommendation after the evaluation process described in Section 1.3(a), the parties shall observe the following procedures: (i) University shall inform the Committee of such acceptance in writing. (ii) University shall negotiate, within the Committee’s recommended parameters, on behalf of CHOC and UCIMC with the identified Payor. (iii) If University secures terms from the Payor that are within the parameters recommended by the Committee, University shall execute the agreements — on behalf of UCIMC and on behalf of CHOC — with the Payor. The Payor will maintain separate contracts with CHOC and UCIMC. (iv) If University determines, in its discretion, that University cannot secure terms from the Payor within the parameters recommended by the Committee: (A) University shall provide the Committee with the terms of the most recent proposal from the Payor. (B) The Committee shall then have ten days to determine whether the proposal is acceptable. (C) If the Committee unanimously agrees to recommend acceptance the proposal, University shall execute Agreements — on behalf of UCIMC and on behalf of CHOC — with the Payor. The Payor will maintain separate contracts with CHOC and UCIMC. (D) If the Committee cannot reach consensus within the allotted ten days, each party is free to negotiate independently with the pertinent Payor to secure the best terms it can get with such Payor. (v) If the parties decide to pursue independent negotiations with a given Payor pursuant to Sections 1.3(b)(iv)(D) of this Agreement, they shall exchange no further information regarding their contracting efforts with the Payor unless they receive approval from their respective legal counsel.
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Effect of Adoption. An Affiliate that adopts the Plan is thereafter an Employer with respect to its eligible Employees. Appendix A hereto sets forth a list of Employers, which list may be modified from time to time by the Plan Administrator.
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Effect of Adoption. An Affiliated Employer which adopts the Plan and the Trust Agreement is thereafter a Participating Company with respect to its Eligible Employees.
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Effect of Adoption. Upon the adoption of this Plan by an adopting business entity as heretofore provided, the adopting business entity shall be an Employer hereunder in all respects. Each adopting business entity (and each other business entity joining the principal employer in the execution of the Adoption Agreement), as a condition of continued participation in this Plan, delegates to the principal employer the sole power and authority:
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Related to Effect of Adoption

  • Effect of Addendum THIS ADDENDUM AMENDS AND SUPPLEMENTS THE CONTRACT AND, IF APPLICABLE, ESCROW INSTRUCTIONS. IN THE EVENT THERE IS ANY CONFLICT BETWEEN THIS ADDENDUM AND THE CONTRACT OR ESCROW INSTRUCTIONS OR NOTICE OR OTHER DOCUMENTS ATTACHED AND MADE A PART OF THE AGREEMENT, THE TERMS OF THIS ADDENDUM TAKE PRECEDENCE AND SHALL PREVAIL EXCEPT AS OTHERWISE PROVIDED BY LAW.

  • Effect of Agreement Nothing herein contained shall be deemed to require to the Trust to take any action contrary to its Declaration of Trust or its By-Laws or any applicable law, regulation or order to which it is subject or by which it is bound, or to relieve or deprive the Trustees of the Trust of their responsibility for and control of the conduct of the business and affairs of the Trust.

  • Effect of Approval Approval of any insurance by City shall not relieve or decrease the liability of Grantee hereunder.

  • Effect of Consent (a) After an amendment, supplement or waiver becomes effective, it will bind every Holder unless it is of the type requiring the consent of each Holder affected. If the amendment, supplement or waiver is of the type requiring the consent of each Holder affected, the amendment, supplement or waiver will bind each Holder that has consented to it and every subsequent Holder of a Note that evidences the same debt as the Note of the consenting Holder. (b) If an amendment, supplement or waiver changes the terms of a Note, the Trustee may require the Holder to deliver it to the Trustee so that the Trustee may place an appropriate notation of the changed terms on the Note and return it to the Holder, or exchange it for a new Note that reflects the changed terms. The Trustee may also place an appropriate notation on any Note thereafter authenticated. However, the effectiveness of the amendment, supplement or waiver is not affected by any failure to annotate or exchange Notes in this fashion.

  • Effect of Absence Where any leave of absence without pay exceeds thirty (30) continuous calendar days, the following shall apply: (a) The Employer shall pay its share of the health and welfare benefits for the calendar month in which the leave commences and in the month immediately following. (b) If the leave of absence exceeds thirty (30) consecutive calendar days, benefit coverage may be continued by the employee, provided that she pays the total cost of the premiums to the Employer for each monthly period in excess of the thirty (30) consecutive calendar days leave of absence except as modified by (a). (c) Benefits will accrue from the date of return to employment following such leave of absence. (d) The employee's anniversary date for salary increases shall be adjusted by the period of time in excess of the thirty (30) continuous calendar days, and the new anniversary date shall prevail thereafter. (e) Seniority, service, vacation credits or any other benefits under any provision of the collective agreement or elsewhere will not accumulate, but will remain fixed at the amount held at the commencement of the leave. (f) Notwithstanding the above, the Employer shall continue to pay its share of the premium for the benefit plans for employees who are on paid leave of absence or WSIB, and will continue to pay its share of the premium for the benefit plans in accordance with the Employment Standards Act for employees who are on pregnancy/parental leave (currently a maximum of twelve (12) months) or family medical leave (currently a maximum of eight