Approval Required Before Payment of Benefits Sample Clauses

Approval Required Before Payment of Benefits. (a) Bureau of Internal Revenue. No Benefits will be put into effect until the Contributions or payments hereunder by the Employers shall have been approved by the U.S. Treasury Department, Bureau of Internal Revenue, as proper deductions by the Employers as business expenses for income tax purposes. In the event such approval is not obtained, the Union and the Employers agree to make such amendments and revisions of this Agreement and Declaration of Trust as are necessary to obtain such approval. For the purpose of this Section, the Employers agree to have one Employer promptly file a request for such approval and request the Bureau to rule, in addition, that all other Employers contributing to this Plan may be deemed covered by the same ruling. Upon receipt of such ruling from the Bureau, the Employer shall promptly notify the Directors and the Directors shall consider same as compliance with this Section. 60 Section AMENDED 9/26/74 (Amendment XXV) 61 Section AMENDED 3/9/55 (Amendment I) Section AMENDED 12/1/59 (Amendment IV) Section AMENDED 3/26/61 (Amendment VI) Agreement and Declaration of Trust (Inclusive of Amendments I through CXXX)
Sample 1See All (4)
AutoNDA by SimpleDocs
Approval Required Before Payment of Benefits. No Benefits under this Article XIII will be put into effect until the contributions or payments for such Benefits hereunder by the Employers shall have been approved by the U.S. Treasury Department, Bureau of Internal Revenue, as proper deductions by the Employers as business expenses for income tax purposes. In the event such approval is not obtained, the Union and the Employers agree to make such amendments and revisions of this Agreement and Declaration of Trust are necessary to obtain such approval. For the purpose of this Section, the Employers agree to have one Employer promptly file a request for such approval and request the Bureau to rule, in addition, that all other Employers contributing to this Plan may be deemed covered by the same ruling. Upon receipt of such ruling from the Bureau, the Employer shall promptly notify the Directors and the Directors shall consider same as compliance with this Section. 86Section 9. Producer-Writers Guild of America Pension Plan Wherever in this Article XIII reference is made to the Motion Picture Industry Pension Plan or the Pension Plan or to the Board of Directors or Administrative Director of said Pension Plan such reference shall, effective December 13, 1966, thereafter apply in like manner and with equal force and effect respectively to the Producer-Writers Guild of America Pension Plan, its Board of Directors or its Administrator with respect to persons who are or become participants under such Producer-Writers Guild of America Pension Plan, subject to the following: 85 Section AMENDED 7/1/66 (Amendment XVII) Section AMENDED 7/1/68 (Amendment XX) Section AMENDED 6/30/83 (Amendment XXXVI) Section AMENDED 1/9/84 (Amendment XXXVII) Section AMENDED 12/15/99 (Amendment LXIII), effective 12/26/99 86 ADDED 12/13/66 (Amendment XVII) Section AMENDED 7/1/68 (Amendment XVIII) Section AMENDED 2/13/74 (Amendment XXII Agreement and Declaration of Trust (Inclusive of Amendments I through CXXX) Such persons who are participants under the Producer-Writers Guild of America Pension Plan and who are certified by the Board of Directors of said Pension Plan or by its Administrator if authorized by said Board of Directors, to the Directors of this Plan as having been eligible to retire and as having retired on a date specified, and who have become pensioners within the meaning and provisions of Article IV, Sections 1 or 2 of such Producer-Writers Guild of America Pension Plan and who meet the provisions of Article IV, Section 1...
Sample 1See All (4)

Related to Approval Required Before Payment of Benefits

  • Payment of Benefits Any amounts due under this Agreement shall be paid in one (1) lump sum payment as soon as administratively practicable following the later of: (i) Xx. Xxxxxx'x Termination Date, or (ii) upon Xx. Xxxxxx'x tender of an effective Waiver and Release to the Company in the form of Exhibit A attached hereto and the expiration of any applicable revocation period for such waiver. In the event of a dispute with respect to liability or amount of any benefit due hereunder, an effective Waiver and Release shall be tendered at the time of final resolution of any such dispute when payment is tendered by the Company.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • Release Prior to Payment of Benefits Upon the occurrence of a Change in Control Termination or a Covered Termination, as applicable, and prior to Executive earning any entitlement to any severance or separation benefits under this Agreement on account of such Change in Control Termination or Covered Termination, as applicable, Executive must execute the appropriate Release, and such Release must become effective in accordance with its terms, but in no event later than the Release Deadline Date. No amount shall be paid prior to such date. Instead, on the first regularly-scheduled payroll date occurring on or after the Release Deadline Date, the Company will pay Executive the severance amount that Executive would otherwise have received on or prior to such date but for the delay in payment related to the effectiveness of the Release, with the balance of the severance amount being paid as originally scheduled. The Company may modify the Release in its discretion to comply with changes in applicable law at any time prior to Executive’s execution of such Release. Such Release shall specifically relate to all of Executive’s rights and claims in existence at the time of such execution and shall confirm Executive’s obligations under the Confidentiality Agreement and any similar obligations under applicable law. It is understood that, as specified in the applicable Release, Executive has a certain number of calendar days to consider whether to execute such Release. If Executive does not execute and deliver such Release within the applicable period, no benefits shall be provided or payable under this Agreement, and Executive shall have no further rights, title or interests in or to any severance benefits or payments pursuant to this Agreement. It is further understood that if Executive is age 40 or older at the time of a Change in Control Termination or a Covered Termination, as applicable, Executive may revoke the applicable Release within seven (7) calendar days after its execution by Executive. If Executive revokes such Release within such subsequent seven (7) day period, no benefits shall be provided or payable under this Agreement pursuant to such Change in Control Termination or Covered Termination, as applicable.

  • Commencement of Benefits (a) Unless the Participant elects otherwise, distribution of benefits will begin no later than the sixtieth day after the close of the Plan Year in which the latest of the following events occurs:

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • Amount of Benefits The vested amount credited to a Participant’s Account as determined under Articles 6, 7 and 8 shall determine and constitute the basis for the value of benefits payable to the Participant under the Plan.

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Transition to Retirement 24.1 An Employee may advise their Employer in writing of their intention to retire within the next five years and participate in a retirement transition arrangement.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Non-Duplication of Benefits Executive is not eligible to receive benefits under this Agreement more than one time.

Time is Money Join Law Insider Premium to draft better contracts faster.