Common use of Plan of Allocation Clause in Contracts

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, Authorized Former Participants, and their Beneficiaries or Alternate Payees, in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, an Authorized Former Participant, or a Beneficiary or Alternate Payee of such a person. 6.2.1 Current Participants shall receive their Settlement payments as contributions to one or more of their accounts in the Plans, as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 Authorized Former Participants shall receive their Settlement payments in the form of a check, as provided in Paragraph 6.6 below. 6.2.3 Beneficiaries shall receive payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall receive payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepers. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.

Appears in 3 contracts

Sources: Class Action Settlement Agreement, Class Action Settlement Agreement, Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, the Authorized Former ParticipantsParticipants and those Current Participants covered by Paragraphs 6.6 and 6.7 below, and their Beneficiaries or Alternate Payees, to the Plan for distribution to the Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, Participant or an Authorized Former Participant, or a Beneficiary Beneficiary, or Alternate Payee of such a person. 6.2.1 . Current Participants shall receive their Settlement settlement payments as contributions to one or more of their accounts in the PlansPlan account(s), except as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 6.6 below. Authorized Former Participants shall receive their Settlement settlement payments in the form of a check, as provided in Paragraph 6.6 6.7 below. 6.2.3 6.3 Beneficiaries shall will receive payments by check checks as described in this Article 6 in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall will receive payments by check checks if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms plan of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepers. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and allocation as ordered by the Court, and the Settling Parties shall have no liability for such determinations.if they are a Current

Appears in 3 contracts

Sources: Class Action Settlement Agreement, Class Action Settlement Agreement, Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, Authorized Former ParticipantsParticipants and those Current Participants covered by Paragraphs 6.5, 6.6, and their Beneficiaries or Alternate Payees6.7 below, and to the Plans for distribution to the remaining Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, an Authorized Former Participant, or a Beneficiary or Alternate Payee of such a person. 6.2.1 Current Participants shall receive their Settlement settlement payments as either contributions to one or more of their accounts account(s) in the PlansPlans or by check, as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5Paragraphs 6.4 and 6.5 below. 6.2.2 Authorized Former Participants shall receive their Settlement settlement payments in the form of a check, as provided in Paragraph 6.6 6.5 below. 6.2.3 Beneficiaries shall receive payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall receive payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepersOrder. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.

Appears in 2 contracts

Sources: Class Action Settlement Agreement, Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, the Authorized Former ParticipantsParticipants and those Current Participants covered by Paragraphs 6.6 and 6.7 below, and their Beneficiaries or Alternate Payees, to the Plan for distribution to the Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, Participant or an Authorized Former Participant, or a Beneficiary Beneficiary, or Alternate Payee of such a person. 6.2.1 . Current Participants shall receive their Settlement settlement payments as contributions to one or more of their accounts in the PlansPlan account(s), except as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 6.6 below. Authorized Former Participants shall receive their Settlement settlement payments in the form of a check, as provided in Paragraph 6.6 6.7 below. 6.2.3 6.3 Beneficiaries shall will receive payments by check checks as described in this Article 6 in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall will receive payments by check checks if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepers. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.if they are a Current

Appears in 2 contracts

Sources: Class Action Settlement Agreement, Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, Authorized the Former ParticipantsParticipants as set forth in Paragraph 6.6 below, and their Beneficiaries or Alternate Payeesto the Plans for distribution to the accounts of Current Participants as set forth in Paragraph 6.5 below, both in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, an Authorized Participant or a Former Participant, or a Beneficiary or Alternate Payee of such a person. 6.2.1 . Current Participants shall receive their Settlement settlement payments as contributions to one or more of their accounts account(s) in the Plans, as provided for in Paragraph 6.46.5 below, unless unless, as of the Current Participant is a Zero date of their settlement payments, they no longer have an Active Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 Authorized the Plans, in which case they shall be treated as Former Participants. Former Participants shall receive their Settlement settlement payments in the form of a checkchecks or, if permitted by the Settlement Administrator, in the form of tax-qualified rollovers to an individual retirement account or other eligible employer plan, as provided in Paragraph 6.6 below. 6.2.3 6.3 Beneficiaries shall will receive settlement payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall receive payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepers. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth described in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.in

Appears in 2 contracts

Sources: Class Action Settlement Agreement, Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, the Authorized Former Participants, Participants and their Beneficiaries or Alternate Payees, Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, an Authorized Former Participant, or a Beneficiary or Alternate Payee of such a person.Alternate 6.2.1 6.3 Current Participants shall receive their Settlement settlement payments as contributions to one or more of their accounts account(s) in the Plans, as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 6.4 Authorized Former Participants shall receive their Settlement settlement payments in the form of a check, as provided in Paragraph 6.6 6.10 below. 6.2.3 6.5 Beneficiaries shall receive payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall receive payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepersOrder. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.

Appears in 2 contracts

Sources: Class Action Settlement Agreement, Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, Authorized Former ParticipantsParticipants and those Current Participants covered by Paragraphs 6.5, 6.6, and their Beneficiaries or Alternate Payees6.7 below, and to the Successor Plan for distribution to the remaining Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, an Authorized Former Participant, or a Beneficiary or Alternate Payee of such a person. 6.2.1 Current Participants shall receive their Settlement settlement payments as either contributions to one or more of their accounts account(s) in the PlansSuccessor Plan or by check, as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5Paragraphs 6.4 and 6.5 below. 6.2.2 Authorized Former Participants shall receive their Settlement settlement payments in the form of a check, as provided in Paragraph 6.6 below. 6.2.3 Beneficiaries shall receive payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall receive payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepersOrder. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.

Appears in 1 contract

Sources: Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, the Authorized Former ParticipantsParticipants and those Current Participants covered by Paragraphs 6.6 and 6.7 below, and their Beneficiaries or Alternate Payees, to the Plan for distribution to the Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, Participant or an Authorized Former Participant, or a Beneficiary Beneficiary, or Alternate Payee of such a person. 6.2.1 . Current Participants shall receive their Settlement settlement payments as contributions to one or more of their accounts in the PlansPlan account(s), except as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check Paragraph 6.3 Beneficiaries will receive checks as described in accordance with Paragraph 6.5. 6.2.2 Authorized Former Participants shall receive their Settlement payments in the form of a check, as provided in Paragraph 6.6 below. 6.2.3 Beneficiaries shall receive payments by check this Article 6 in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall will receive payments by check checks if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms Plan of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepersAllocation as if they are a Current Participant or Authorized Former Participant. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.

Appears in 1 contract

Sources: Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, the Authorized Former ParticipantsParticipants and those Current Participants covered by Paragraphs 6.6 and 6.7 below, and their Beneficiaries or Alternate Payees, to the Plan for distribution to the Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, Participant or an Authorized Former Participant, or a Beneficiary Beneficiary, or Alternate Payee of such a person. 6.2.1 . Current Participants shall receive their Settlement settlement payments as contributions to one or more of their accounts in the PlansPlan account(s), except as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 6.6 below. Authorized Former Participants shall receive their Settlement settlement payments in the form of a check, as provided in Paragraph 6.6 6.7 below. 6.2.3 6.3 Beneficiaries shall will receive payments by check checks as described in this Article 6 in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall will receive payments by check checks if and to the extent they are entitled to receive a portion of a Current Participant’s 's or Authorized Former Participant’s 's allocation under this Article 6 in accordance with the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepers. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.if they are a Current

Appears in 1 contract

Sources: Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, the Authorized Former Participants, and their Beneficiaries or Alternate Payees, in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court.Former 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, Participant or an Authorized Former Participant, or a Beneficiary Beneficiary, or Alternate Payee of such a person. 6.2.1 . Current Participants shall receive their Settlement settlement payments as contributions to one or more of their accounts in the PlansPlan account(s), except as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 Paragraphs 6.6 and 6.7 below. Authorized Former Participants shall receive their Settlement settlement payments in the form of a checkchecks, as provided in Paragraph 6.6 6.8 below. 6.2.3 6.3 Beneficiaries shall will receive payments by check checks as described in this Article 6 in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall will receive payments by check checks if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with pursuant to the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepersOrder. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.

Appears in 1 contract

Sources: Class Action Settlement Agreement