Normal Rule Sample Clauses

The "Normal Rule" clause establishes the standard procedures or default terms that govern the agreement unless otherwise specified. In practice, this clause outlines the baseline expectations for the parties, such as standard delivery times, payment terms, or dispute resolution methods, which apply unless an exception is explicitly stated elsewhere in the contract. Its core function is to provide a clear and consistent framework for interpreting the contract, reducing ambiguity and ensuring that all parties understand the default rules that apply to their relationship.
Normal Rule. The Eligibility Computation Period(s) shall be determined under Section 1.24(A) of the Plan.
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Normal Rule. A Participant may elect an Optional Form by making such election before the expiration of thirty (30) days from the date he first becomes eligible to participate in the Plan, provided that he has not, within the preceding twenty-four (24) months, been eligible to participate in any other non-account- based deferred compensation arrangement of the Company (within the meaning of section 409A of the Code).
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Normal Rule. Unless the Adoption Agreement provides otherwise, the Eligibility Computation Period(s) shall be the Computation Period(s) commencing on an Employee's Employment Commencement Date and the anniversaries of the Employee's Employment Commencement Date.
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Normal Rule. (i) Unless the Adoption Agreement provides otherwise, any portion of the Participant's Employer and/or Matching Account which is not vested in accordance with Section 7.6(B)(2) at the time of his separation from service with the Employer shall be forfeited and reallocated to the Employer and/or Matching Accounts of the remaining Participants in accordance with Section 5.5 as of the last day of the Plan Year coinciding with, or if the last day of the Plan Year does not so coincide, the last day of the Plan Year next following, the date the Participant incurs five consecutive One-Year Breaks In Service. (ii) If a distribution is made to a Participant at a time when such Participant has a nonforfeitable right to less than 100 percent of his Employer and/or Matching Account and, at the time of such distribution, the Participant has not incurred five consecutive One-Year Breaks In Service, the Trustee shall retain the nonvested portion of the Participant's Employer and/or Matching Account in his Employer and/or
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Related to Normal Rule

  • General Rule If the Company experiences a Change of Control, then the Company shall promptly pay to Purchaser an amount equal to the Maximum Payment Amount minus the aggregate of all payments made by the Company to Purchaser under this Note, including payments made by the Company pursuant to section 2.3.

  • Transitional Rule Notwithstanding the other requirements of this Section and subject to the requirements of Section 8.2, distribution on behalf of any Employee, including a five percent (5%) owner, may be made in accordance with all of the following requirements (regardless of when such distribution commences): (i) The distribution by the trust is one which would not have disqualified such trust under section 401(a)(9) of the Code as in effect prior to amendment by the Deficit Reduction Act of 1984. (ii) The distribution is in accordance with a method of distribution designated by the Employee whose interest in the trust is being distributed or, if the Employee is deceased, by a Beneficiary of such Employee. (iii) Such designation was in writing, was signed by the Employee or the Beneficiary, and was made before January 1, 1984. (iv) The Employee had accrued a benefit under the Plan as of December 31, 1983. (v) The method of distribution designated by the Employee or the Beneficiary specifies the time at which distribution will commence, the period over which distributions will be made, and in the case of any distribution upon the Employee's death, the Beneficiaries of the Employee listed in order of priority. A distribution upon death will not be covered by this transitional rule unless the information in the designation contains the required information described above with respect to the distributions to be made upon the death of the Employee. For any distribution which commences before January 1, 1984, but continues after December 31, 1983, the Employee, or the Beneficiary, to who such distribution is being made, will be presumed to have designated the method of distribution under which the distribution is being made if the method of distribution was specified in writing and the distribution satisfies the requirements in Subsections (i) through (v) above. If a designation is revoked, any subsequent distribution must satisfy the requirements of section 401(a)(9) of the Code and the regulations thereunder. If a designation is revoked subsequent to the date distributions are required to begin, the trust must distribute by the end of the calendar year following the calendar year in which the revocation occurs the total amount not yet distributed which would have been required to have been distributed to satisfy section 401(a)(9) of the Code and the regulations thereunder, but for the election under section 242(b)(2) of Pub. L. No. 97-248. For calendar years beginning after December 31, 1988, such distributions must meet the minimum distribution incidental benefit requirements in section 1.401(a)(9)-2 of the Income Tax Regulations. Any changes in the designation will be considered to be a revocation of the designation. However, the mere substitution or addition of another Beneficiary (one not named in the designation) under the designation will not be considered to be a revocation of the designation, so long as such substitution or addition does not alter the period over which distributions are to be made under the designation, directly or indirectly (for example, by altering the relevant measuring life). The rules of Q&A J-2 and J-3 of Income Tax Regulations section 1.401(a)(9)-1 shall apply to rollovers and transfers from one plan to another.

  • Special rule Crane operator: Crane rental: The provision specified in Paragraph c) shall not apply to a crane operator in the service of an employer specialized in crane rental.

  • ▇▇▇▇▇▇▇ Rule The Issuer is structured not to be a “covered fund” under the regulations adopted to implement Section 619 of the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act, commonly known as the “▇▇▇▇▇▇▇ Rule.”

  • Additional Rules For purposes of determining the amount of the Tax Reimbursement Payment, the Executive shall be deemed to pay: (A) Federal income taxes at the highest applicable marginal rate of Federal income taxation for the calendar year in which the Tax Reimbursement Payment is to be made, and (B) any applicable state and local income and other taxes at the highest applicable marginal rate of taxation for the calendar year in which the Tax Reimbursement Payment is to be made, net of the maximum reduction in Federal incomes taxes which could be obtained from the deduction of such state or local taxes if paid in such year.