Administrator-Directed Disbursements Sample Clauses

Administrator-Directed Disbursements. The Trustee shall make disbursements in the amounts and in the manner that the Administrator directs from time to time in writing. The Trustee shall have no responsibility to ascertain such direction's compliance with the terms of the Plan or of any applicable law or the direction's effect for tax purposes or otherwise; nor shall the Trustee have any responsibility to see to the application of any disbursement.
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Administrator-Directed Disbursements. The Trustee through the Recordkeeper shall make disbursements in the amounts and in the manner that the Administrator directs from time to time in writing. The Trustee and the Recordkeeper shall have no responsibility to ascertain such direction's compliance with the terms of the Plan (except to the extent the terms of the Plan have been communicated to the Trustee and the Recordkeeper in writing) or of any applicable law or the direction's effect for tax purposes or otherwise; nor shall the Trustee and the Recordkeeper have any responsibility to see to the application of any disbursement.
Administrator-Directed Disbursements. THE TRUSTEE SHALL MAKE DISBURSEMENTS IN THE AMOUNTS AND IN THE MANNER THAT THE ADMINISTRATOR DIRECTS FROM TIME TO TIME IN WRITING. THE TRUSTEE SHALL HAVE NO RESPONSIBILITY TO ASCERTAIN SUCH DIRECTION'S COMPLIANCE WITH THE TERMS OF THE PLAN OR OF ANY APPLICABLE LAW OR THE DIRECTION'S EFFECT FOR TAX PURPOSES OR OTHERWISE; NOR SHALL THE TRUSTEE HAVE ANY RESPONSIBILITY TO SEE TO THE APPLICATION OF ANY DISBURSEMENT.

Related to Administrator-Directed Disbursements

  • Administrator Duties The Administrator has a duty to perform or observe all tasks to be performed or observed by the Administrator contained in this Agreement or otherwise.

  • Administrator Discretion The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Option at any time, subject to the terms of the Plan. If so accelerated, such Option will be considered as having vested as of the date specified by the Administrator.

  • Vacation and Sick Leave Administration (a) for the purposes of administration of clauses 34.11 and 34.12, where an employee does not work the same number of hours each week, the normal workweek shall be the weekly average calculated on a monthly basis.

  • Compensation Benefits and Expenses During the Term, Company shall compensate Employee for his services as follows:

  • Shared Leave Administration A. The calculation of the recipient’s leave value will be in accordance with applicable Office of Financial Management policies, regulations, and procedures. The leave received will be coded as shared leave and be maintained separately from all other leave balances. All paid leave accrued must be used prior to using shared leave when the employee qualifies for shared leave under 13.2 A.1. Accrued vacation leave and paid military leave allowed under RCW 38.40.060 must be used prior to using shared leave for employees qualified under 13.2 A.2. All paid leave, except sick leave, must be used prior to using shared leave when the employee qualifies for shared leave under 13.2 A.3 and 13.2 A.4.

  • Plan Administrator Duties The Plan Administrator shall administer this Agreement according to its express terms and shall also have the discretion and authority to (i) make, amend, interpret and enforce all appropriate rules and regulations for the administration of this Agreement and (ii) decide or resolve any and all questions, including interpretations of this Agreement, as may arise in connection with this Agreement to the extent the exercise of such discretion and authority does not conflict with Code Section 409A.

  • Timing of Reimbursements and In-kind Benefits If Executive is entitled to be paid or reimbursed for any taxable expenses under this Agreement, and such payments or reimbursements are includible in Executive’s federal gross taxable income, the amount of such expenses reimbursable in any one calendar year shall not affect the amount reimbursable in any other calendar year, and the reimbursement of an eligible expense must be made no later than December 31 of the year after the year in which the expense was incurred. No right of Executive to reimbursement of expenses under this Agreement shall be subject to liquidation or exchange for another benefit.

  • Non-Ministerial Matters; Exceptions to Administrator Duties (i) Notwithstanding anything to the contrary in this Agreement, with respect to matters that in the reasonable judgment of the Administrator are non-ministerial, the Administrator shall not take any action unless, within a reasonable time before the taking of such action, the Administrator shall have notified the Issuer of the proposed action and the Issuer shall not have withheld consent or provided an alternative direction. For the purpose of the preceding sentence, “non-ministerial matters” shall include, without limitation:

  • Reimbursements and In-Kind Benefits Notwithstanding anything to the contrary in this Agreement, all reimbursements and in-kind benefits provided under this Agreement that are subject to Section 409A of the Code shall be made in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement that (A) any reimbursement is for expenses incurred during Executive’s lifetime (or during a shorter period of time specified in this Agreement); (B) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year; (C) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred; and (D) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

  • Compensating Time Off ‌ At the time an employee is required or requested to work overtime, the employee may opt for compensating time off at the applicable overtime rate in lieu of overtime pay. If an employee opts for compensating time off in lieu of overtime pay, the time shall be taken at a time mutually agreed to by the employee and the Employer and shall be taken within 24 calendar weeks of the occurrence of the overtime. The Employer will make a reasonable effort to allow time off when requested by the employee. If such time off is not taken by the end of the 24 week period, overtime at the applicable overtime rate shall be paid on the employee's next regular paycheque.

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