{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "subject-to-section", "type": "clause", "offset": [0, 18]}, {"key": "form-of-distribution", "type": "definition", "offset": [41, 61]}, {"key": "account-balances", "type": "clause", "offset": [66, 82]}, {"key": "direct-rollover", "type": "clause", "offset": [118, 133]}], "samples": [{"hash": "84V1OAS7vfD", "uri": "/contracts/84V1OAS7vfD#automatic-rollover", "label": "Volume Submitter Adoption Agreement", "score": 23.6525091852, "published": true}, {"hash": "cSnIJ8j0Z1", "uri": "/contracts/cSnIJ8j0Z1#automatic-rollover", "label": "Volume Submitter Adoption Agreement", "score": 21.0, "published": true}, {"hash": "aZgEbr3IT23", "uri": "/contracts/aZgEbr3IT23#automatic-rollover", "label": "Adoption Agreement", "score": 21.0, "published": true}], "snippet": "Subject to Section 2.5.6(d), the default form of distribution for Account balances that are greater than $ shall be a Direct Rollover. (Must be $1000 or less)", "size": 6, "hash": "5e3f60a18d5a6bcce12090e784887600", "id": 1}, {"snippet_links": [{"key": "subject-to-the-terms", "type": "clause", "offset": [0, 20]}, {"key": "expiration-of", "type": "clause", "offset": [38, 51]}, {"key": "an-interest-period-for", "type": "clause", "offset": [52, 74]}, {"key": "applicable-sofr", "type": "definition", "offset": [92, 107]}, {"key": "loan-shall", "type": "definition", "offset": [108, 118]}, {"key": "applicable-rate", "type": "definition", "offset": [210, 225]}, {"key": "equal-to", "type": "definition", "offset": [243, 251]}, {"key": "the-principal-amount", "type": "definition", "offset": [252, 272]}, {"key": "principal-repayments", "type": "definition", "offset": [308, 328]}, {"key": "by-the-borrower", "type": "clause", "offset": [334, 349]}, {"key": "daily-sofr-loan", "type": "definition", "offset": [436, 451]}], "samples": [{"hash": "dzmVx9snbMJ", "uri": "/contracts/dzmVx9snbMJ#automatic-rollover", "label": "Credit Agreement (Moog Inc.)", "score": 34.8672142368, "published": true}], "snippet": "Subject to the terms hereof, upon the expiration of an Interest Period for a SOFR Loan, the applicable SOFR Loan shall automatically be continued as a SOFR Loan for the same Interest Period at the then current applicable rate and in an amount equal to the principal amount of the expiring SOFR Loan less any principal repayments made by the Borrower, if any. Subject to the terms hereof, upon the expiration of an Interest Period for a Daily SOFR Loan, the applicable Daily SOFR Loan shall automatically be continued as a Daily SOFR Loan at the then current applicable rate and in an amount equal to the principal amount of the expiring Daily SOFR Loan less any principal repayments made by the Borrower, if any.", "size": 1, "hash": "7c8202a1b463f3fa86318ea91a761af9", "id": 7}, {"snippet_links": [{"key": "subject-to-section", "type": "clause", "offset": [0, 18]}, {"key": "form-of-distribution", "type": "definition", "offset": [41, 61]}, {"key": "eligible-rollover-distributions", "type": "clause", "offset": [66, 97]}, {"key": "direct-rollover", "type": "clause", "offset": [133, 148]}], "samples": [{"hash": "fek3JMqidab", "uri": "/contracts/fek3JMqidab#automatic-rollover", "label": "Volume Submitter Adoption Agreement", "score": 34.3282427477, "published": true}], "snippet": "Subject to Section 2.5.3(d), the default form of distribution for Eligible Rollover Distributions that are greater than $ shall be a Direct Rollover. (Must be $1,000 or less.)", "size": 1, "hash": "ce28a6a8b8fd17fe5f46e844d23ce1b5", "id": 8}, {"snippet_links": [{"key": "the-employer", "type": "definition", "offset": [3, 15]}, {"key": "provide-for", "type": "clause", "offset": [52, 63]}, {"key": "mandatory-distributions", "type": "clause", "offset": [64, 87]}, {"key": "section-601a", "type": "clause", "offset": [101, 115]}, {"key": "the-plan-administrator", "type": "clause", "offset": [118, 140]}, {"key": "the-participant", "type": "clause", "offset": [216, 231]}, {"key": "normal-retirement-age", "type": "definition", "offset": [263, 284]}, {"key": "to-apply", "type": "clause", "offset": [344, 352]}, {"key": "specified-amount", "type": "definition", "offset": [379, 395]}, {"key": "in-the-event-of", "type": "definition", "offset": [481, 496]}, {"key": "subject-to", "type": "definition", "offset": [524, 534]}, {"key": "after-march", "type": "clause", "offset": [571, 582]}, {"key": "an-eligible-retirement-plan", "type": "definition", "offset": [670, 697]}, {"key": "direct-rollover", "type": "clause", "offset": [729, 744]}, {"key": "to-receive", "type": "definition", "offset": [748, 758]}, {"key": "the-distribution", "type": "clause", "offset": [759, 775]}, {"key": "in-accordance-with", "type": "definition", "offset": [785, 803]}, {"key": "individual-retirement-plan", "type": "definition", "offset": [902, 928]}, {"key": "in-the-case", "type": "clause", "offset": [987, 998]}, {"key": "restated-plan", "type": "definition", "offset": [1004, 1017]}, {"key": "restated-effective-date", "type": "definition", "offset": [1025, 1048]}, {"key": "terms-of-the", "type": "clause", "offset": [1227, 1239]}, {"key": "document-control", "type": "definition", "offset": [1251, 1267]}, {"key": "disposition-of", "type": "clause", "offset": [1278, 1292]}, {"key": "the-account", "type": "clause", "offset": [1293, 1304]}], "samples": [{"hash": "9L3A04hm96N", "uri": "/contracts/9L3A04hm96N#automatic-rollover", "label": "401(k) Profit Sharing Plan (Nci Building Systems Inc)", "score": 24.9753593429, "published": true}], "snippet": "If the Employer elects in its Adoption Agreement to provide for Mandatory Distributions described in Section 6.01(A), the Plan Administrator will apply this Section 6.08(D) to all Mandatory Distributions made before the Participant attains the later of age 62 or Normal Retirement Age. The Employer in its Adoption Agreement will elect whether to apply this Section 6.08(D) to a specified amount or will apply this Section only to such Mandatory Distributions which exceed $1,000. In the event of any Mandatory Distribution subject to this Section 6.08(D) and made on or after March 28, 2005, if the Participant does not elect to have such distribution paid directly to an Eligible Retirement Plan the Participant specifies in a Direct Rollover or to receive the distribution directly in accordance with Section 6.01(A), then the Plan Administrator will pay the distribution in a Direct Rollover to an Individual Retirement Plan the Plan Administrator designates (\"Automatic Rollover\"). In the case of a Restated Plan with a restated Effective Date before March 29, 2005, as to any Mandatory Distribution which otherwise would be subject to this Section 6.08(D) except that the distribution occurred before March 29, 2005, the terms of the prior plan document control as to the disposition of the Account.", "size": 3, "hash": "2f712265688d67f1db2cacb8875d2226", "id": 4}, {"snippet_links": [{"key": "subject-to-the-terms", "type": "clause", "offset": [0, 20]}, {"key": "expiration-of", "type": "clause", "offset": [38, 51]}, {"key": "an-interest-period-for", "type": "clause", "offset": [60, 82]}, {"key": "applicable-libor-rate", "type": "definition", "offset": [100, 121]}, {"key": "loan-shall", "type": "definition", "offset": [127, 137]}, {"key": "libor-interest-period", "type": "definition", "offset": [204, 225]}, {"key": "equal-to", "type": "definition", "offset": [281, 289]}, {"key": "the-principal-amount", "type": "definition", "offset": [290, 310]}, {"key": "principal-repayments", "type": "definition", "offset": [357, 377]}, {"key": "by-the-borrower", "type": "clause", "offset": [383, 398]}, {"key": "la-interest-period", "type": "definition", "offset": [463, 481]}, {"key": "daily-sofr-loan", "type": "definition", "offset": [488, 503]}, {"key": "libor-advantage-rate", "type": "definition", "offset": [520, 540]}], "samples": [{"hash": "kFPcsxy8H3e", "uri": "/contracts/kFPcsxy8H3e#automatic-rollover", "label": "Credit Agreement (Moog Inc.)", "score": 32.8672142368, "published": true}], "snippet": "Subject to the terms hereof, upon the expiration of a LIBOR an Interest Period for a SOFR Loan, the applicable LIBOR Rate SOFR Loan shall automatically be continued as a LIBOR Rate SOFR Loan for the same LIBOR Interest Period at the then current Aapplicable Rrate and in an amount equal to the principal amount of the expiring LIBOR Rate SOFR Loan less any principal repayments made by the Borrower, if any. Subject to the terms hereof, upon the expiration of an LA Interest Period for a Daily SOFR Loan, the applicable LIBOR Advantage Rate Daily SOFR Loan shall automatically be continued as a LIBOR Advantage Rate Daily SOFR Loan at the then current Aapplicable Rrate and in an amount equal to the principal amount of the expiring LIBOR Advantage Rate Daily SOFR Loan less any principal repayments made by the Borrower, if any.", "size": 1, "hash": "dce83cd24d71c8a12463f85386ea3cbf", "id": 6}, {"snippet_links": [{"key": "subject-to-section", "type": "clause", "offset": [0, 18]}, {"key": "form-of-distribution", "type": "definition", "offset": [39, 59]}, {"key": "accrued-benefits", "type": "clause", "offset": [71, 87]}, {"key": "direct-rollover", "type": "clause", "offset": [123, 138]}], "samples": [{"hash": "gyt1Ak5F5oq", "uri": "/contracts/gyt1Ak5F5oq#automatic-rollover", "label": "Adoption Agreement", "score": 21.6607212879, "published": true}, {"hash": "gPSWKXd4kE5", "uri": "/contracts/gPSWKXd4kE5#automatic-rollover", "label": "Volume Submitter Adoption Agreement", "score": 21.6525091852, "published": true}], "snippet": "Subject to Section 2.3.13, the default form of distribution for Vested Accrued Benefits that are greater than $ shall be a Direct Rollover. (Must be $1000 or less)", "size": 4, "hash": "44955c77cd616fac04af99691ccb8c55", "id": 2}, {"snippet_links": [{"key": "to-the-extent", "type": "clause", "offset": [0, 13]}, {"key": "terms-of-the", "type": "clause", "offset": [33, 45]}, {"key": "a-distribution", "type": "clause", "offset": [70, 84]}, {"key": "the-participant", "type": "clause", "offset": [105, 120]}, {"key": "total-account-balance", "type": "definition", "offset": [152, 173]}, {"key": "by-the-employer", "type": "clause", "offset": [222, 237]}, {"key": "code-section", "type": "definition", "offset": [296, 308]}, {"key": "in-accordance-with", "type": "definition", "offset": [359, 377]}], "samples": [{"hash": "5WCgK2d7gIC", "uri": "/contracts/5WCgK2d7gIC#automatic-rollover", "label": "Custodial Account Agreement", "score": 24.4305270363, "published": true}, {"hash": "hDB71vIN7jd", "uri": "/contracts/hDB71vIN7jd#automatic-rollover", "label": "403(b)(7) and Roth 403(b)(7) Custodial Account Agreement", "score": 23.0588637919, "published": true}], "snippet": "To the extent provided under the terms of the Employer\u2019s 403(b) Plan, a distribution may be made without the Participant\u2019s consent if the Participant\u2019s total Account balance under the Employer\u2019s 403(b) Plan (as determined by the Employer or Administrator) does not exceed the amount described in Code Section 411(a)(11). Any such distribu- tion shall be made in accordance with Code Section 401(a)(31).", "size": 3, "hash": "eb264978957ab06e37012138c57157dd", "id": 3}, {"snippet_links": [{"key": "the-employer", "type": "definition", "offset": [3, 15]}, {"key": "provide-for", "type": "clause", "offset": [52, 63]}, {"key": "mandatory-distributions", "type": "clause", "offset": [64, 87]}, {"key": "section-601a", "type": "clause", "offset": [101, 115]}, {"key": "the-plan-administrator", "type": "clause", "offset": [118, 140]}, {"key": "the-participant", "type": "clause", "offset": [216, 231]}, {"key": "normal-retirement-age", "type": "definition", "offset": [263, 284]}, {"key": "to-apply", "type": "clause", "offset": [344, 352]}, {"key": "specified-amount", "type": "definition", "offset": [379, 395]}, {"key": "in-the-event-of", "type": "definition", "offset": [481, 496]}, {"key": "subject-to", "type": "definition", "offset": [524, 534]}, {"key": "an-eligible-retirement-plan", "type": "definition", "offset": [634, 661]}, {"key": "direct-rollover", "type": "clause", "offset": [693, 708]}, {"key": "to-receive", "type": "definition", "offset": [712, 722]}, {"key": "the-distribution", "type": "clause", "offset": [723, 739]}, {"key": "in-accordance-with", "type": "definition", "offset": [749, 767]}, {"key": "individual-retirement-plan", "type": "definition", "offset": [866, 892]}], "samples": [{"hash": "dC00WyzAfD1", "uri": "/contracts/dC00WyzAfD1#automatic-rollover", "label": "Defined Contribution Pre Approved Plan (J&j Snack Foods Corp)", "score": 35.9185489391, "published": true}, {"hash": "bArhE01jhK3", "uri": "/contracts/bArhE01jhK3#automatic-rollover", "label": "Defined Contribution Prototype Plan and Trust Agreement (Bob Evans Farms Inc)", "score": 25.4750171116, "published": true}], "snippet": "If the Employer elects in its Adoption Agreement to provide for Mandatory Distributions described in Section 6.01(A), the Plan Administrator will apply this Section 6.08(D) to all Mandatory Distributions made before the Participant attains the later of age 62 or Normal Retirement Age. The Employer in its Adoption Agreement will elect whether to apply this Section 6.08(D) to a specified amount or will apply this Section only to such Mandatory Distributions which exceed $1,000. In the event of any Mandatory Distribution subject to this Section 6.08(D), if the Participant does not elect to have such distribution paid directly to an Eligible Retirement Plan the Participant specifies in a Direct Rollover or to receive the distribution directly in accordance with Section 6.01(A), then the Plan Administrator will pay the distribution in a Direct Rollover to an Individual Retirement Plan the Plan Administrator designates (\"Automatic Rollover\").", "size": 2, "hash": "5fb44043cec22dbcf0b85450d195f091", "id": 5}, {"snippet_links": [{"key": "subject-to-the-terms", "type": "clause", "offset": [0, 20]}, {"key": "expiration-of", "type": "clause", "offset": [38, 51]}, {"key": "libor-interest-period", "type": "definition", "offset": [54, 75]}, {"key": "loan-shall", "type": "definition", "offset": [103, 113]}, {"key": "applicable-rate", "type": "definition", "offset": [217, 232]}, {"key": "equal-to", "type": "definition", "offset": [250, 258]}, {"key": "the-principal-amount", "type": "definition", "offset": [259, 279]}, {"key": "principal-repayments", "type": "definition", "offset": [321, 341]}, {"key": "by-borrower", "type": "clause", "offset": [347, 358]}, {"key": "la-interest-period", "type": "definition", "offset": [423, 441]}, {"key": "libor-advantage-rate-loan", "type": "definition", "offset": [458, 483]}], "samples": [{"hash": "g0g0wu0d4pR", "uri": "/contracts/g0g0wu0d4pR#automatic-rollover", "label": "Credit Agreement (Moog Inc.)", "score": 29.9281314168, "published": true}], "snippet": "Subject to the terms hereof, upon the expiration of a LIBOR Interest Period, the applicable LIBOR Rate Loan shall automatically be continued as a LIBOR Rate Loan for the same LIBOR Interest Period at the then current Applicable Rate and in an amount equal to the principal amount of the expiring LIBOR Rate Loan less any principal repayments made by Borrower, if any. Subject to the terms hereof, upon the expiration of an LA Interest Period, the applicable LIBOR Advantage Rate Loan shall automatically be continued as a LIBOR Advantage Rate Loan at the then current Applicable Rate and in an amount equal to the principal amount of the expiring LIBOR Advantage Rate Loan less any principal repayments made by Borrower, if any.", "size": 1, "hash": "d48349d084de0eeded119815d3f4fd54", "id": 9}, {"snippet_links": [{"key": "pursuant-to-plan", "type": "clause", "offset": [0, 16]}, {"key": "the-plan-administrator", "type": "clause", "offset": [40, 62]}, {"key": "an-individual", "type": "clause", "offset": [102, 115]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [139, 157]}, {"key": "a-participant", "type": "definition", "offset": [158, 171]}, {"key": "affirmative-election", "type": "definition", "offset": [197, 217]}, {"key": "to-receive", "type": "definition", "offset": [218, 228]}, {"key": "vested-benefit", "type": "definition", "offset": [233, 247]}], "samples": [{"hash": "agsA1Oj1ATf", "uri": "/contracts/agsA1Oj1ATf#automatic-rollover", "label": "Adoption Agreement (Fairfax Financial Holdings LTD/ Can)", "score": 19.6132785763, "published": true}], "snippet": "Pursuant to Plan Section 7.03(b)(2)(B), the Plan Administrator shall provide an automatic rollover to an individual retirement arrangement for the benefit of a Participant who (1) does not make an affirmative election to receive his vested benefit and (2) whose vested benefit is greater than $1,000 but does not exceed $5,000.", "size": 1, "hash": "37ea2830a3001ec00c05087725a196c1", "id": 10}], "next_curs": "ClsSVWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjcLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhthdXRvbWF0aWMtcm9sbG92ZXIjMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["definitions", "DEFINITIONS"], ["testing-year", "Testing Year"], ["deductible-employee-contributions-decs", "DEDUCTIBLE EMPLOYEE CONTRIBUTIONS (DECs)"], ["direct-rollover-of-eligible-rollover-distributions", "Direct Rollover of Eligible Rollover Distributions"], ["userra", "USERRA"]], "title": "Automatic Rollover", "children": [["rollovers-count", "Rollovers count"], ["determination-of-mandatory-distribution-amount", "Determination of Mandatory Distribution Amount"], ["\u2587\u2587\u2587\u2587-and-pre-tax-deferrals", "\u2587\u2587\u2587\u2587 and Pre-Tax Deferrals"], ["r\u2587\u2587\u2587-and-non-r\u2587\u2587\u2587-accounts", "R\u2587\u2587\u2587 and non-R\u2587\u2587\u2587 Accounts"], ["involuntary-cash-out-distribution", "Involuntary Cash-Out Distribution"]], "size": 25, "id": "automatic-rollover", "related": [["rollover-contributions", "Rollover Contributions", "Rollover Contributions"], ["rollover-contributions-and-transfers", "Rollover Contributions and Transfers", "Rollover Contributions and Transfers"], ["rollover", "Rollover", "Rollover"], ["direct-rollover", "Direct Rollover", "Direct Rollover"], ["death-during-distribution-of-a-benefit", "Death During Distribution of a Benefit", "Death During Distribution of a Benefit"]], "related_snippets": [], "updated": "2025-07-07T12:35:11+00:00", "also_ask": ["What negotiation leverage does an automatic rollover clause provide to each party?", "What essential terms must be included to avoid ambiguity in an automatic rollover provision?", "What are the most common legal pitfalls or unenforceability risks with automatic rollover clauses?", "How do automatic rollover clauses compare across different jurisdictions or contract types?", "What factors do courts consider when determining the enforceability of automatic rollover clauses?"], "drafting_tip": "Specify rollover conditions and notice requirements to prevent unintended extensions; define termination rights to ensure parties can exit as needed.", "explanation": "An Automatic Rollover clause defines the process by which a contract or agreement is automatically renewed for an additional term if neither party provides notice of termination before the current term expires. In practice, this means that unless one party actively notifies the other of their intent to end the agreement\u2014often within a specified notice period\u2014the contract continues under the same terms for another cycle, such as a year or month. This clause ensures continuity of service or obligations and helps prevent accidental lapses in agreements due to oversight or missed deadlines."}, "json": true, "cursor": ""}}