Entitlement to Distribution Sample Clauses
The Entitlement to Distribution clause defines the conditions under which parties are eligible to receive distributions, such as profits, assets, or dividends, from a company or trust. It typically outlines who qualifies for these distributions, the timing and method of payment, and any prerequisites or limitations that may apply. For example, it may specify that only shareholders of record as of a certain date are entitled to receive declared dividends. The core function of this clause is to ensure clarity and fairness in the allocation of distributions, preventing disputes over who is rightfully entitled to receive them.
Entitlement to Distribution. The Vested portion of a Participant's Individual Account shall be distributable to the Participant upon (1) the occurrence of any of the distributable events specified in the Adoption Agreement; (2) the Participant's Termination of Employment after attaining Normal Retirement Age; (3) the termination of the Plan; and (4) the Participant's Termination of Employment after satisfying any Early Retirement Age conditions. If a Participant separates from service before satisfying the Early Retirement Age requirement, but has satisfied the service requirement, the Participant will be entitled to elect an early retirement benefit upon satisfaction of such age requirement.
Entitlement to Distribution. The Executive shall be entitled to an amount calculated in accordance with paragraph 3 hereof (the “Distribution”).
Entitlement to Distribution. The Vested portion of a Participant's Individual Account shall be distributable to the Participant upon (1) the occurrence of any of the distributable events specified in the Adoption Agreement; (2) the Participant's
Entitlement to Distribution. The Vested portion of a Participant's Individual Account shall be distributable to the Participant upon the occurrence of any of the following events:
a. the Participant's Termination of Employment;
b. the Participant's attainment of Normal Retirement Age;
c. the Participant's Disability; or
d. the termination of the Plan.
Entitlement to Distribution. The Vested portion of a Participant's Individual Account attributable to Employer Contributions other than those described in Section 5.01(A)(2) of the Plan shall be distributable to the Participant upon (1) the occurrence of any of the distributable events specified in the Adoption Agreement; (2) the Participant's Termination of Employment after attaining Normal Retirement Age; (3) the termination of the Plan; and (4) the Participant's Termination of Employment after satisfying any Early Retirement Age conditions. If a Participant separates from service before satisfying the Early Retirement Age requirement, but has satisfied the service requirement, the Participant will be entitled to elect an early retirement benefit upon satisfaction of such age requirement. With respect to item (1) above, if the Adoption Agreement does not allow an Employer to specify distributable events, the Vested portion of a Participant's Individual Account shall be distributable to the Participant upon the Participant's Termination of Employment; the Participant's attainment of Normal Retirement Age; the Participant's Disability; or the termination of the Plan. Notwithstanding the foregoing, the following rules shall apply with respect to entitlement to distribution of rollover and transfer contributions and Nondeductible Employee Contributions. Except as otherwise provided in the Adoption Agreement, rollover and transfer contributions and earnings thereon shall be subject to the Plan's provisions governing distributions of either Employer Profit Sharing Contributions (if this Plan is a profit sharing plan), Employer Money Purchase Pension Contributions (if this Plan is a money purchase pension plan) or Employer Target Benefit Pension Contributions (if this Plan is a target benefit pension plan). However, to the extent that any optional form of benefit under this Plan permits a distribution prior to the Employee's retirement, death, Disability, attainment of Normal Retirement Age or severance from employment, and prior to Plan termination, the optional form of benefit is not available with respect to benefits attributable to assets (including the post-transfer earnings thereon) and liabilities that are transferred, within the meaning of Section 414(1) of the Code, to this Plan from a money purchase pension plan or a target benefit pension plan qualified under Section 401 (a) of the Code (other than any portion of those assets and liabilities attributable to voluntary employee co...
Entitlement to Distribution. The Vested portion of a Participant’s Individual Account attributable to Employer Contributions (including ACP Test Safe Harbor Matching Contributions) other than those described in Plan Section 5.01(A)(2) shall be distributable to the Participant upon 1) the Participant satisfying the distribution eligibility requirements specified in the Adoption Agreement, 2) the Participant’s Termination of Employment after attaining Normal Retirement Age, 3) the termination of the Plan, and 4) if the Plan designates an Early Retirement Age, the Participant’s Termination of Employment after satisfying any Early Retirement Age conditions. If a Participant separates from service before satisfying the Early Retirement Age requirement, but has satisfied the service requirement, the Participant will be entitled to elect an early retirement benefit upon satisfying such age requirement. With respect to item 1) above, if the Adoption Agreement does not allow an Employer to specify distribution eligibility requirements, the Vested portion of a Participant’s Individual Account shall be distributable to the Participant upon the Participant’s Termination of Employment, attainment of Normal Retirement Age, Disability, attainment of age 59½, or the termination of the Plan. If a Participant who is entitled to a distribution is not legally competent to request or consent to a distribution, the Participant’s court-appointed guardian, an attorney in fact acting under a valid power of attorney, or any other individual or entity authorized under state law to act on behalf of the Participant, may request and accept a distribution of the Vested portion of a Participant’s Individual Account under this Plan Section 5.01(A).
Entitlement to Distribution. A Participant shall be entitled to distribution due to separation from service on account of death, Disability, Early Retirement, Retirement or any other reason, provided the Participant is vested in his Account.
Entitlement to Distribution. If a Member incurs a Severance from Service or becomes Disabled, he may elect to receive the vested portion of his Account as provided herein. Notwithstanding the foregoing, a Member who is laid off with rights of recall may not elect to receive the vested portion of his Account until his recall rights have expired.
Entitlement to Distribution. A Participant's Account shall not be distributable to the Participant or anyone else before the Participant's Severance From Employment from the Employer, unless any of the following events occurs:
a. the Participant incurs an Unforeseeable Emergency and distribution is permitted under Section 4.01(B);
b. a distribution is permitted under Section 4.12 regarding small amounts;
c. the Plan is terminated as provided in Section 6.02;
d. distribution is to be made pursuant to a qualified domestic relations order described in Section 4.09; or
e. a distribution made from a State Plan that elected to allow loans in the Adoption Agreement, to a Participant in accordance with the loan provisions in Section 6.20.
Entitlement to Distribution. The Vested portion of a Participant's Individual Account is distributable to him or her as of the earliest to occur of any of the following: (a) His or her Termination of Employment;