New distributable event Clause Samples

The "New distributable event" clause defines circumstances under which a new event or occurrence qualifies as distributable under the terms of an agreement. Typically, this clause outlines the criteria or triggers that must be met for an event to be recognized as one that entitles parties to a distribution, such as a payment, allocation of assets, or other benefits. For example, it may specify that a new product launch, acquisition, or regulatory approval constitutes a distributable event. The core function of this clause is to provide clarity and certainty about when distributions are triggered, thereby reducing disputes and ensuring all parties understand their rights and obligations regarding new qualifying events.
New distributable event. A participant’s elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant’s severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed.
View SourceView Similar (5)
New distributable event. A participant’s elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant’s severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed. This amendment has been executed this _________________ day of ______________________________, ________. Name of Employer: America’s Car-Mart, Inc. By: _________________________________________ EMPLOYER Name of Plan: Colonial Auto Finance, Inc. 401(k) Plan
View SourceView Similar (2)
New distributable event. A participants elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant’s severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed. Addendum to EGTRRA Amendment to the Prudential Retirement Services Defined Contribution Plan and Trust The following should be added to item 2.4 of the EGTRRA Amendment to the Prudential Retirement Services Defined Contribution Plan and Trust: Employer Matching Contributions. The plan permits Employer Matching Contributions for catch-up contributions (Article VI of EGTRRA Amendment) unless the option below is elected. [ ] The plan does not permit Employer Matching Contributions for catch-up contributions to be made. Except with respect to any election made to the above, this amendment is hereby adopted by the prototype sponsor on behalf of all adopting employers on January 1, 2002. Sponsor Name: Prudential Retirement Services By:_______________________ This amendment has been executed this 19th day of July, 2007. Name of Employer: National Penn Bancshares, Inc. By:___________ /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇________________ EMPLOYER Name of Plan: National Penn Bancshares, Inc. Capital Accumulation Plan
View Source
New distributable event. A participant’s elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant’s severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation front service before such amounts may be distributed. This amendment has been executed this 1st day of January, 2008. Name of Plan: THE J. ▇▇▇▇ GROUP 401(k) PLAN Name of Employer: The Talbots Group, LP By: /s/ ▇▇▇▇ ▇▇▇▇▇, III Name of Participating Employer: J. ▇▇▇▇, LLC By: /s/ ▇▇▇▇ ▇▇▇▇▇, III
View Source
New distributable event. A participant’s elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant’s severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed. This amendment has been executed this ____________ day of ________________________, _________. Name of Plan: Lexington State Bank Employees’ 401(k) Plan Name of Employer: Lexington State Bank By: Name of Participating Employer: LSB Investment Services, Inc. By: Name of Participating Employer: Peoples Finance Company of Lexington, Inc. By:
View Source
New distributable event. A participant's elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant's severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed. Except with respect to any election made by the employer in Article II, this amendment is hereby adopted by the prototype sponsor on behalf of all adopting employers on: [SPONSOR'S SIGNATURE AND ADOPTION DATE ARE ON FILE WITH SPONSOR] NOTE: THE EMPLOYER ONLY NEEDS TO EXECUTE THIS AMENDMENT IF AN ELECTION HAS BEEN MADE IN ARTICLE II OF THIS AMENDMENT. This amendment has been executed this _________________ day of ______________________________, ________. Name of Employer: ▇▇▇▇▇ Corporation ------------------------------ By: ____________________________________________ EMPLOYER Name of Plan: ▇▇▇▇▇ Corporation 401(k) Retirement Plan ------------------------------------------- 401(A)(9) MODEL AMENDMENT TO THE ▇▇▇▇▇ CORPORATION 401(K) RETIREMENT PLAN MINIMUM DISTRIBUTION REQUIREMENTS AMENDMENT
View Source
New distributable event. A Participant's elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the Participant's severance from employment. However, such a distribution shall be subject to the other provisions of the Plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed. This Section, DISTRIBUTION UPON SEVERANCE FROM EMPLOYMENT, shall apply for distributions after December 31, 2001, regardless of when the severance from employment occurred.
View Source

Related to New distributable event

  • Qualified HSA Funding Distribution If you are eligible to contribute to a health savings account (HSA), you may be eligible to take a one-time tax-free HSA funding distribution from your IRA and directly deposit it to your HSA. The amount of the qualified HSA funding distribution may not exceed the maximum HSA contribution limit in effect for the type of high deductible health plan coverage (i.e., single or family coverage) that you have at the time of the deposit, and counts toward your HSA contribution limit for that year. For further detailed information, you may wish to obtain IRS Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans.

  • Final Distribution The Issuer shall give the Indenture Trustee at least 30 days written notice of the Payment Date on which the Noteholders of any Series, Class or Tranche may surrender their Notes for payment of the final distribution on and cancellation of such Notes. Not later than the fifth day of the month in which the final distribution in respect of such Series, Class or Tranche is payable to Noteholders, the Indenture Trustee shall provide notice to Noteholders of such Series, Class or Tranche specifying (i) the date upon which final payment of such Series, Class or Tranche will be made upon presentation and surrender of Notes of such Series, Class or Tranche at the office or offices therein designated, (ii) the amount of any such final payment and (iii) that the Record Date otherwise applicable to such payment date is not applicable, payments being made only upon presentation and surrender of such Notes at the office or offices therein specified (which, in the case of Bearer Notes, shall be outside the United States). The Indenture Trustee shall give such notice to the Note Registrar and the Paying Agent at the time such notice is given to Noteholders. (a) Notwithstanding a final distribution to the Noteholders of any Series, Class or Tranche of Notes (or the termination of the Issuer), except as otherwise provided in this paragraph, all funds then on deposit in any Issuer Account allocated to such Noteholders shall continue to be held in trust for the benefit of such Noteholders, and the Paying Agent or the Indenture Trustee shall pay such funds to such Noteholders upon surrender of their Notes, if certificated. In the event that all such Noteholders shall not surrender their Notes for cancellation within 6 months after the date specified in the notice from the Indenture Trustee described in paragraph (a), the Indenture Trustee shall give a second notice to the remaining such Noteholders to surrender their Notes for cancellation and receive the final distribution with respect thereto (which surrender and payment, in the case of Bearer Notes, shall be outside the United States). If within one year after the second notice all such Notes shall not have been surrendered for cancellation, the Indenture Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the remaining such Noteholders concerning surrender of their Notes, and the cost thereof shall be paid out of the funds in the Collection Account or any Supplemental Issuer Accounts held for the benefit of such Noteholders. The Indenture Trustee and the Paying Agent shall pay to the Issuer any monies held by them for the payment of principal or interest that remains unclaimed for two years. After payment to the Issuer, Noteholders entitled to the money must look to the Issuer for payment as general creditors unless an applicable abandoned property law designates another Person.

  • Final Distributions Upon the winding up of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

  • Are There Penalties for Early Distribution from a ▇▇▇▇ ▇▇▇ As indicated above, earnings on your contributions, as well as amounts contributed to a ▇▇▇▇ ▇▇▇ as a rollover from a Traditional IRA, that are distributed before certain events are subject to various taxes. Please see IRS Publication 590 for further information about ▇▇▇▇ ▇▇▇ rules and restrictions.

  • Residual Distributions If the Liquidation Preference has been paid in full to all holders of Designated Preferred Stock and the corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred Stock as to such distribution has been paid in full, the holders of other stock of the Issuer shall be entitled to receive all remaining assets of the Issuer (or proceeds thereof) according to their respective rights and preferences.