Forms of Distributions Clause Samples
The "Forms Of Distributions" clause defines the various ways in which assets, profits, or proceeds may be distributed among parties under an agreement. It typically outlines whether distributions will be made in cash, in kind (such as property or securities), or through a combination of both, and may specify the process for valuing non-cash assets. This clause ensures clarity and fairness in how distributions are handled, preventing disputes by setting clear expectations for all parties involved.
Forms of Distributions. Unless the Participant’s interest is distributed in the form of an annuity purchased from an insurance company or in a single sum on or before the Required Beginning Date, as of the First Distribution Calendar Year distributions will be made in accordance with paragraph 7.8 through paragraph 7.11. If the Participant’s interest is distributed in the form of an annuity purchased from an insurance company, distributions thereunder will be made in accordance with the requirements of Code Section 401(a)(9) and the corresponding Treasury Regulations.
Forms of Distributions. Unless the Individual’s interest is distributed in a single sum on or before the Required Beginning Date, as of the First Distribution Calendar Year distributions will be made in accordance with paragraph 18.14 through paragraph 18.16.
Forms of Distributions. (1) In addition to the distribution form in Section 6.1.1 and 6.1.2 of the Base Plan Document (select one):
(a) installments are offered as an optional form of benefit. þ (b) installments are not offered as an optional form of benefit.
(2) Distributions shall be made (select one):
(a) in cash. þ (b) in cash or in-kind.
Forms of Distributions. The General Partner may, in its sole discretion, make distributions (following similar payments of withdrawal proceeds from the Aggregators and/or Designated Parallel Vehicles) in cash, in kind, or in a combination thereof, in connection with a withdrawal of capital from the Partnership by a Partner or pursuant to Section 6.03 (Required Withdrawals), or Section 6.05(b) (Quarterly Interest Distributions). In each case, the assets to be distributed in kind to any withdrawing Partners or Partners that have elected to receive Quarterly Distributions may be allocated among such withdrawing Partners or Partners that have elected to receive Quarterly Distributions (as the case may be) in such proportions as may be determined by the General Partner, in its sole discretion (which, for the avoidance of doubt, may be different than if such distributions were made pro rata in accordance with such Partners’ Partnership Percentages). The General Partner also may, in its sole discretion, make distributions in cash or in kind, or in a combination thereof, at any time to all of the Partners, and such distributions shall not be required to be made on a pro rata basis in accordance with the Partners’ Partnership Percentages.
Forms of Distributions. Unless the Participant’s interest is distributed in the form of an annuity purchased from an insurance company or in a single sum on or before the required beginning date, as of (i) for distributions beginning prior to the Participant’s death, the calendar year containing such Participant’s required beginning date, or (ii) for distributions beginning after a Participant’s death, the calendar year distributions must begin under Code Section 401(a)(9) (the “first distribution calendar year”), distributions will be made in accordance with this Section 6.4. If the Participant’s interest is distributed in the form of an annuity purchased from an insurance company, distributions thereunder will be made in accordance with the requirements of Code Section 401(a)(9).
Forms of Distributions. Subject to the required distribution rules discussed in Paragraph 13 below, you may elect that distributions from your Education Account be made to the Responsible Person, or any other individual or entity, for the benefit of the Beneficiary, in any form that is deemed acceptable by the Trustee.
Forms of Distributions. The General Partner may, in its sole discretion, cause the Partnership to make distributions in cash or in kind, or in a combination thereof, in connection with a withdrawal of capital from the Partnership by a Partner or pursuant to Section 6.03 (Required Withdrawals). For the avoidance of doubt, the General Partner is under no obligation to cause the Partnership to make any distributions, and may retain and reinvest any and all assets of the Partnership, in accordance with the terms hereunder.
Forms of Distributions. Effective for distributions occurring on or after September 1, 1997, Section 7.3.2 of the Plan Statement shall be amended to read in full as follows:
Forms of Distributions. The Custodian shall process distributions from the Account in any of the following forms at the Participant’s or, if applicable, a Beneficiary’s election, provided that such distribution form is required or permitted under the Plan or the Plan’s distribution election/direction forms:
(a) A total distribution of the Account;
(b) An Eligible Rollover Distribution (as further described in Article 6 of this Agreement);
(c) Periodic installment payments;
(d) A specific dollar amount as directed from time to time;
(e) If the Plan is a governmental plan and the distributee is a Participant and not a Beneficiary, distributions for certain retired public safety officers made for the direct payment of certain premiums as provided in Code sections 402(l) and 403(b)(2);
(f) A fixed or variable annuity contract purchased from an insurance company at the Participant’s instruction and distributed to the Participant, providing for periodic payments over any of the following periods as specified by the Participant: the life of the Participant, the lives of the Participant and the Participant’s surviving spouse or other beneficiary, or a period certain not to exceed the period permitted under Code section 401(a)(9) and the regulations thereunder;
(g) Substantially equal periodic payments as provided for in Code section 72(t)(2)(A)(iv) or its successor, provided the Participant has a severance from employment with the Employer (regardless of when it occurred), before the attainment of age 59½.