Termination by the Plan Clause Samples

The 'Termination by the Plan' clause grants the plan administrator or sponsor the authority to end the plan under specified circumstances. Typically, this clause outlines the conditions under which the plan may be terminated, such as changes in law, financial necessity, or organizational restructuring, and describes the process for notifying participants and distributing any remaining benefits. Its core function is to provide a clear mechanism for winding down the plan in an orderly manner, ensuring all parties understand the circumstances and procedures for termination, and thereby reducing uncertainty and potential disputes.
Termination by the Plan. (i) The failure of the Contributing Employer (or where applicable its Payroll Service) to fully and timely comply with any provision, condition, covenant, promise, term, obligation representation, warranty, payment, delinquency (including liquidated damages, interest, audit and collection fees) required by or contained in this Participation Agreement (or any under any prior Participation Agreement) whether expressly recited or incorporated by reference; or to fully comply with any provision of the Trust Agreement or other Plan rule applicable to the Contributing Employer; or to or fully comply with any applicable provision of the Plan’s Audit, Delinquency and Collection Procedures (as all of the foregoing may be amended from time to time): shall be deemed a material breach of this Participation Agreement. In the event of such breach, the Plan, by its Trustees, shall have the right (in addition to all legal and equitable rights and remedies all of which the Trustees expressly reserve) to terminate this Participation Agreement and all coverage under the Plan of Benefits effective on thirty (30) days prior written notice to the Contributing Employer, unless in the sole judgment of the Trustees the Contributing Employer has completely cured such breach. (ii) Where the Trustees, as fiduciaries, deem it in the best interests of the Plan and its participants, in their sole judgment, or as otherwise required or permitted under the Trust Agreement, applicable law or in the event the Plan or its Plan of Benefits is terminated, upon sixty
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Termination by the Plan. In addition to termination pursuant to Contract Period, in the event The Plan determines that applicable laws, rules, regulations, statutes, orders, or standards, as are adopted, amended, or issued from time to time, of the United States of America, the states or any department or agency thereof, including but not limited to the Centers for Medicare and Medicaid Services and the Indian Health Service (“Laws”), render material obligations of this NativeBlue Addendum or the NativeBlue plans unenforceable or commercially unreasonable, or require additional material obligations in order to implement and comply with the requirements of such Laws, then The Plan may terminate this NativeBlue
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Related to Termination by the Plan

  • Termination by the HSP (a) The HSP may terminate this Agreement at any time, for any reason, upon giving 6 months’ Notice (or such shorter period as may be agreed by the HSP and the Funder) to the Funder provided that the Notice is accompanied by: satisfactory evidence that the HSP has taken all necessary actions to authorize the termination of this Agreement; and a Transition Plan, acceptable to the Funder, that indicates how the needs of the HSP’s clients will be met following the termination and how the transition of the clients to new service providers will be effected within the six-month Notice period. (b) In the event that the HSP fails to provide an acceptable Transition Plan, the Funder may reduce Funding payable to the HSP prior to termination of this Agreement to compensate the Funder for transition costs.

  • TERMINATION BY THE PARTIES This Agreement may be terminated upon sixty (60) days’ written notice (a) by the Independent Directors of the Company or the Advisor, without Cause and without penalty, (b) by the Advisor for Good Reason, or (c) by the Advisor upon a Change of Control. The provisions of Sections 19 through 31 of this Agreement shall survive termination of this Agreement.

  • Termination by the Employer The Employer may terminate the Employment Period (i) immediately upon the delivery of a Notice of Termination (as defined in Section 4.01(d) of this Agreement) by the Employer to the Executive setting forth the facts that indicate that a determination has been made that the Executive has a Disability in accordance with Section 4.02 of this Agreement; (ii) immediately upon delivery of a Notice of Termination by the Employer to the Executive setting forth the facts that indicate that an event constituting Cause (as defined in Section 4.03 of this Agreement) has occurred, or on such later date as may be set forth in such Notice of Termination; or (iii) at any time without Cause effective as of the 30th day following the delivery of a Notice of Termination by the Employer to the Executive, or on such later date as may be set forth in such Notice of Termination.

  • Termination by the Owner for Cause § 16.2.1 The Owner may terminate the Contract if the Contractor .1 repeatedly refuses or fails to supply enough properly skilled workers or proper materials;