Restrictions on Reversion Clause Samples

The "Restrictions on Reversion" clause defines limitations or conditions under which rights, property, or interests that have been transferred may revert back to the original owner. In practice, this clause may specify certain events or breaches that must occur before reversion is triggered, or it may set timeframes and procedural requirements for reversion to take place. Its core function is to provide clarity and predictability regarding when and how reversion can occur, thereby protecting both parties from unexpected or arbitrary reversals of transferred rights.
Restrictions on Reversion. No Plan Sponsor shall have any right, title, or interest in the assets of the Trust, nor will any part of the assets of the Trust revert or be repaid to a Plan Sponsor.
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Restrictions on Reversion. The Company shall not have any right, title or interest in the assets of the Trust Fund, nor will any part of the assets of the Trust Fund revert or be repaid to the Company until all benefits due under the Plan and fees and expenses of the Trust have been paid pursuant to the terms of the Plan and in accordance with the provisions of paragraphs 4.5 and 7.2, except as follows: a) The assets of the Trust Fund shall be available for the claims of the Company's creditors under the circumstances specified in Article V; b) If the Company ceases to maintain the Plan, any balance remaining in the Trust Fund after all benefits have been paid pursuant to the terms of the Plan and in accordance with the provisions of paragraph 4.5 shall revert to the Company; c) Except after a Change in Control, upon the written request of the Committee at any time, the Trustee shall repay to the Company any excess assets (as defined below) in the Trust Fund, provided that the Committee furnishes to the Trustee a statement acceptable to the Trustee as to the Company's Accrued Liability under the Plan. For these purposes, "excess assets" means any amount by which the Fund Value exceeds one hundred ten percent (110%) of the Company's Accrued Liability under the Plan. In the event of a Change in Control , no assets of the Trust Fund shall revert or be repaid to the Company, under any circumstances, until all benefits due under the Plan and fees and expenses of the Trust have been paid pursuant to the terms of the Plan and in accordance with the provisions of paragraph 4.5.
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Restrictions on Reversion. The Company shall not have any right, title or interest in the assets of the Trust Fund, nor will any part of the assets of the Trust Fund revert or be repaid to the Company until all benefits due under the Plans have been paid pursuant to the terms of the Plans and in accordance with the provisions of paragraph 4.05, except as follows:
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Restrictions on Reversion. Except to the extent permitted by the plan, the employers shall have no right, title or interest in the assets of the trust fund, nor will any part of the assets of the trust fund revert or be repaid to any employer or be diverted to any purpose other than as permitted under the plan.
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Restrictions on Reversion. Except as provided in this Article 4, the Company shall have no right or power to direct the Trustee to return to the Company or to divert to others any of the assets in the Trust before payment of all benefits have been made to Participants pursuant to the terms of the Plans.
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Related to Restrictions on Reversion

  • Restrictions on Testing If the Engineer will perform commercial laboratory testing under this contract, on any project the Engineer may not perform more than one of the following types of testing: 1. verification testing; 2. quality control testing; or 3. independent assurance testing

  • Restrictions on Lobbying The subrecipient shall not use funds made available to it under this Agreement to pay for, influence, or seek to influence any officer or employee of a State or Federal government.

  • Restrictions on U.S Transfers. Transfers of interests in the Regulation S Global Security to U.S. persons (as defined in Regulation S) shall be limited to transfers made pursuant to the provisions of Section 3.03(h)(C).

  • Restrictions on Exercise This Option may not be exercised if the issuance of the Shares upon such exercise would constitute a violation of any applicable federal or state securities or other law or valid regulation. As a condition to the Optionee's exercise of this Option, the Company may require the person exercising this Option to make any representation and warranty to the Company as may be required by any applicable law or regulation.

  • Restrictions on Resale The Awardee agrees not to sell any Shares at a time when Applicable Laws, Company policies, or an agreement between the Company and its underwriters prohibit a sale. This restriction shall apply as long as the Awardee is a Service Provider and for such period after the Awardee's Termination of Service as the Administrator may specify.