Transmittal of Contributions Clause Samples
The "Transmittal of Contributions" clause defines the process and obligations for transferring funds or assets, typically from an employer or contributor to a designated recipient such as a retirement plan or trust. This clause outlines the timing, method, and documentation required for making these contributions, ensuring that payments are made accurately and within specified deadlines. Its core practical function is to ensure that contributions are properly and promptly delivered, reducing the risk of delays, misallocation, or non-compliance with legal or contractual requirements.
Transmittal of Contributions. The Retiree Medical Trust shall remain separate and apart from any other retiree health insurance funding program which may be established by the Employer, unless changed by mutual agreement of the parties to this Agreement. Contributions to the Retiree Medical Trust shall be due to the Retiree Medical Trust on the 10th of the month following the month for which the contributions are made.
Transmittal of Contributions. (a) Employer contributions to the various Funds as specified and provided for above shall be paid or postmarked by the 25th day of the month immediately following the month for which the contributions are due, but an Employer shall not be deemed delinquent if full payment of amounts due are actually received or postmarked and mailed by the 25th day of said month.
(b) A monthly consolidated transmittal report form as provided by the Administrative Office, showing, among other things, the monthly total of hours worked by each Employee covered by this Agreement, shall be submitted each month and accompany such payment, if any.
(c) The monthly consolidated transmittal report form must be submitted or postmarked by the 25th day of the month immediately following the month being reported even if no Employees were employed by the Employer.
Transmittal of Contributions. The Employer will contribute the amounts established pursuant to Sections 3.2 and 3.3 to the Plan as soon as practicable following each payroll period.