Participant Liability Generally Sample Clauses

The 'Participant Liability Generally' clause defines the extent to which participants in an agreement are responsible for losses, damages, or obligations arising from their actions or omissions. Typically, this clause outlines the circumstances under which a participant may be held liable, such as breaches of contract, negligence, or willful misconduct, and may specify any limitations or exclusions to that liability. Its core practical function is to allocate risk among the parties, ensuring that each participant understands their potential exposure and responsibilities, thereby promoting fairness and reducing disputes over liability.
Participant Liability Generally. In the event Participant exercises its rights pursuant to Article X, neither Participant nor any of its officers, directors, employees, attorneys or agents, including any Servicer and any Subservicer, shall be liable for any action taken or omitted to be taken by them or any one of them under this Agreement or in connection with any Loan or Collateral or any portion thereof, except for any act or omission constituting willful misconduct.
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Related to Participant Liability Generally

  • ' Compensation & Employer's Liability The Service Provider shall maintain during the life of this Agreement for all of the Service Provider's employees engaged in work performed under this agreement:

  • Participation in Benefit Plans The Executive shall be eligible to participate in the employee benefit plans and programs maintained by the Company from time to time for its executives, or for its employees generally, including without limitation any life, medical, dental, accidental and disability insurance and profit sharing, pension, retirement, savings, stock option, incentive stock and deferred compensation plans, in accordance with the terms and conditions as in effect from time to time.

  • Participation in Retirement and Employee Benefit Plans The Employee shall be entitled to participate in all plans relating to pension, thrift, profit-sharing, group life and disability insurance, medical and dental coverage, education, cash bonuses, and other retirement or employee benefits or combinations thereof, in which the Bank's executive officers participate.

  • Other Compensation or Benefits You acknowledge that, except as expressly provided in this Agreement, you will not receive any additional compensation, severance or benefits after the Separation Date.

  • Can I Roll Over or Transfer Amounts from Other IRAs or Employer Plans If properly executed, you are allowed to roll over a distribution from one Traditional IRA to another without tax penalty. Rollovers between Traditional IRAs may be made once every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, ▇▇▇▇, SEP, and SIMPLE IRAs owned. Under certain conditions, you may roll over (tax-free) all or a portion of a distribution received from a qualified plan or tax-sheltered annuity in which you participate or in which your deceased spouse participated. In addition, you may also make a rollover contribution to your Traditional IRA from a qualified deferred compensation arrangement. Amounts from a ▇▇▇▇ ▇▇▇ may not be rolled over into a Traditional IRA. If you have a 401(k), ▇▇▇▇ 401(k) or ▇▇▇▇ 403(b) and you wish to rollover the assets into an IRA you must roll any designated ▇▇▇▇ assets, or after tax assets, to a ▇▇▇▇ ▇▇▇ and roll the remaining plan assets to a Traditional IRA. In the event of your death, the designated beneficiary of your 401(k) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary IRA account. In general, strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing rollovers. Most distributions from qualified retirement plans will be subject to a 20% withholding requirement. The 20% withholding can be avoided by electing a “direct rollover” of the distribution to a Traditional IRA or to certain other types of retirement plans. You should receive more information regarding these withholding rules and whether your distribution can be transferred to a Traditional IRA from the plan administrator prior to receiving your distribution.