Payments to Current Clause Samples

The "Payments to Current" clause requires that all outstanding payments or financial obligations under the agreement are brought up to date by a specified time, typically before a particular event such as closing or transfer of ownership. In practice, this means that any overdue amounts, interest, or fees must be settled so that no arrears remain at the critical moment. This clause ensures that the parties start from a clean financial slate, preventing disputes over unpaid amounts and clarifying each party’s obligations at a key transition point.
Payments to Current. Participants Who Have a Zero Account Balance as of the Date the Settlement Payments Are Made. For each Current Participant who has an account balance of zero as of the date the settlement payments are made, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Current Participant then on file. A Current Participant who has an account balance of zero as of the date the settlement payments are made need not complete a Former Participant Claim Form. The checks shall be issued as follows: 6.5.1 For each check issued, the Settlement Administrator shall (i) calculate and withhold any applicable taxes associated with the payments allocable to the Current Participant; (ii) report such payments and remit such tax withholdings to the Internal Revenue Service and applicable state revenue agents; and (iii) issue appropriate tax forms to the Current Participant. 6.5.2 Settlement payments that cannot be made by the Plan’s recordkeeper(s) within thirty (30) calendar days of receiving direction from Defendant (or designee), as described in Paragraph 6.4, because the Current Participant has an account balance of zero in the Plan, shall be returned by the Plan’s recordkeeper(s) to the Settlement Administrator for distribution pursuant to this Paragraph 6.5 within twenty (20) calendar days thereafter.
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Payments to Current. Participants Who Have a $0 Account Balance as of the Date the Settlement Payments Are Made. For each Current Participant with an Active Account that has an account balance of zero as of the date the settlement payments are made, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Current Participant then on file with the recordkeeper for the Plan. A Current Participant who has an account balance of zero as of the date the settlement payments are made need not complete a Former Participant Claim Form. The checks shall be issued as follows: 6.6.1 For each check issued, the Settlement Administrator shall (i) calculate and withhold any applicable taxes associated with the payments allocable to the Current Participant; (ii) report such payments and remit such tax withholdings to the Internal Revenue Service and applicable state revenue agents; and (iii) issue appropriate tax forms to the Current Participant. 6.6.2 Settlement payments that cannot be made by the Plan’s trustee within thirty (30) calendar days of receiving direction from Philips (or its designee), as described in Paragraph 6.5, because the Current Participant has an account balance of zero in the Plan shall be returned by the Plan’s trustee to the Settlement Administrator for distribution pursuant to this Paragraph 6.6 within ten (10) calendar days thereafter.
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Payments to Current. Participants Who Have a $0 Account Balance as of the Date the Settlement Payments Are Made. For each Current Participant who has an account balance of zero as of the date the settlement payments are made, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Current Participant then on file with the recordkeeper for the Plan. A Current Participant who has an account balance 6.6.1 For each check issued, the Settlement Administrator shall (i) calculate and withhold any applicable taxes associated with the payments allocable to the Current Participant; (ii) report such payments and remit such tax withholdings to the Internal Revenue Service and applicable state revenue agents; and (iii) issue an IRS Form 1099 to the Current Participant. 6.6.2 Settlement payments that cannot be made by the Plan’s trustee within thirty (30) calendar days of receiving direction from ATH Holding Company, LLC (or its designee), as described in Paragraph 6.5, because the Current Participant has an account balance of zero in the Plan shall be returned by the Plan’s trustee to the Settlement Administrator for distribution pursuant to this Paragraph 6.6 within twenty (20) calendar days thereafter.
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Payments to Current. Participants Who Have a $0 Account Balance as of the Date the Settlement Payments are Made. For each Current Participant who has an account balance of zero as of the date the settlement payments are made, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Current Participant then on file. The checks shall be issued as follows: 6.7.1 For each check issued, the Settlement Administrator shall: (i) calculate and withhold any applicable taxes associated with the payments allocable to the Current Participant; (ii) report such payments and remit such tax withholdings to the Internal Revenue Service and applicable state revenue agents; and (iii) issue appropriate tax forms to the Current Participant. 6.7.2 Settlement payments that cannot be made by the Plan’s Recordkeeper within thirty (30) calendar days of receiving direction from the Settlement Administrator, as described in § 6.6, because the Current Participant has an account balance of zero in the Plan, shall be returned by the Plan’s trustee to the Settlement Administrator for distribution pursuant to this § 6.7 within twenty (20) calendar days thereafter.
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Payments to Current. Participants with an Active Account in the 457(f) Plan. For each Current Participant entitled to a settlement payment allocable to his or her Active Account in the 457(f) Plan, the Settlement Administrator shall issue a single check from the Qualified Settlement Fund and mail it to the address of the Current Participant then on file with the recordkeeper for the Plans. The Settlement Administrator shall: (i) calculate and withhold any applicable taxes associated with the payments allocable to the Current Participant’s 457(f) account; (ii) report such payments and remit such tax withholdings and employer-tax payments to the Internal Revenue Service and applicable state revenue agents; and (iii) issue appropriate tax forms to the Current Participants.
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Related to Payments to Current

  • Payments to Company Except as provided in Section 3 hereof, after the Trust has become irrevocable, Company shall have no right or power to direct Trustee to return to Company or to divert to others any of the Trust assets before all payment of benefits have been made to Plan participants and their beneficiaries pursuant to the terms of the Plan.

  • Payments to Lenders If a Lender (a "Recovering Lender") receives or recovers any amount from the Borrower other than in accordance with clause 27 (Payment mechanics) and applies that amount to a payment due under the Finance Documents then: (A) the Recovering Lender shall, within three Business Days, notify details of the receipt or recovery, to the Agent; (B) the Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Agent and distributed in accordance with clause 27 (Payment mechanics), without taking account of any Tax which would be imposed on the Agent in relation to the receipt, recovery or distribution; and (C) the Recovering Lender shall, within three Business Days of demand by the Agent, pay to the Agent an amount (the "Sharing Payment") equal to such receipt or recovery less any amount which the Agent determines may be retained by the Recovering Lender as its share of any payment to be made, in accordance with clause 27.5 (Partial payments).

  • Payments to Agent A payment by the Borrower to the Agent hereunder or any of the other Loan Documents for the account of any Bank shall constitute a payment to such Bank. The Agent agrees promptly to distribute to each Bank such Bank's pro rata share of payments received by the Agent for the account of the Banks except as otherwise expressly provided herein or in any of the other Loan Documents.

  • Payments to Finance Parties (a) Subject to paragraph (b) below, if a Finance Party (a “Recovering Finance Party”) receives or recovers any amount from an Obligor other than in accordance with Clause 33 (Payment mechanics) (a “Recovered Amount”) and applies that amount to a payment due under the Finance Documents then: (i) the Recovering Finance Party shall, within three (3) Business Days, notify details of the receipt or recovery to the Agent; (ii) the Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Finance Party would have been paid had the receipt or recovery been received or made by the Agent and distributed in accordance with Clause 33 (Payment mechanics), without taking account of any Tax which would be imposed on the Agent in relation to the receipt, recovery or distribution; and (iii) the Recovering Finance Party shall, within three (3) Business Days of demand by the Agent, pay to the Agent an amount (the “Sharing Payment”) equal to such receipt or recovery less any amount which the Agent determines may be retained by the Recovering Finance Party as its share of any payment to be made, in accordance with Clause 33.6 (Partial payments). (b) Paragraph (a) above shall not apply to any amount received or recovered by an Ancillary Lender in respect of any cash cover provided for the benefit of that Ancillary Lender.

  • Payments to Owner Section 4.01 Remittances...................................................29 Section 4.02 Statements to Owner...........................................29 Section 4.03 Monthly Advances by Servicer..................................30 Section 4.04 Due Dates Other Than the First of the Month...................30 ARTICLE V