Common use of Notice to Suspend Clause in Contracts

Notice to Suspend. A Participant may on one occasion while they are participating in the Plan give notice to the School Division stating that the Participant wishes to suspend their participation in the Plan for a period of one year as at September 1 which immediately follows such notice, in which case the School Division shall pay the Current Compensation Amount to the Participant as if they were not participating in the Plan for such year, but the amounts previously retained by the School Division and interest thereon in accordance with clause 3.3 (but less all interest paid to the Participant in accordance with clause 3.4) shall, subject to clause 6.4, continue to be held by the School Division until the Participant withdraws from the Plan or takes a Leave of Absence.

Notice to Suspend. 1. A Participant may on one occasion while they are participating in the Plan give notice to the School Division stating that the Participant wishes to suspend their participation in the Plan for a period of one year as at September 1 which immediately follows such notice, in which case the School Division shall pay the Current Compensation Amount to the Participant as if they were not participating in the Plan for such year, but the amounts previously retained by the School Division and interest thereon in accordance with clause 3.3 (but less all interest paid to the Participant in accordance with clause 3.4) shall, subject to clause 6.4, continue to be held by the School Division until the Participant withdraws from the Plan or takes a Leave of Absence.