Date for Reallocation Sample Clauses
The 'Date for Reallocation' clause establishes the specific date on which assets, responsibilities, or obligations are to be reassigned between parties under an agreement. In practice, this clause sets a clear timeline for when the transfer of items such as property, funds, or contractual duties will take effect, ensuring all parties are aware of when their respective rights or obligations change. By defining this date, the clause provides certainty and helps prevent disputes over when the reallocation should occur, thereby ensuring a smooth transition and clear record-keeping.
Date for Reallocation. NOTE: If no distribution has been made to a former Participant, sub-section (i) below will apply to such Participant even if the Employer elects (ii) or (iii) below as its normal administrative policy. o (i) Forfeiture shall be reallocated at the end of the Plan Year during which the former Participant incurs his or her fifth consecutive one year Break In Service. o
Date for Reallocation. Forfeitures shall be reallocated to eligible Employees on the earlier of: (1) the end of the Plan Year during which the Participant receives distribution of his or her benefit, or (ii) the end of the Plan Year during which the Participant incurs five consecutive one year Breaks in Service.
Date for Reallocation. NOTE: If no distribution has been made to a former Participant, subsection (i) below will apply to such Participant even if the Employer elects (ii) or (iii) below as its normal administrative policy. [ ] (i) Forfeitures shall be reallocated at the end of the Plan Year during which the former Participant incurs his or her fifth consecutive one year Break in Service. [X] (ii) Forfeitures will be reallocated immediately (as of the next Valuation Date)(year end). [ ] (iii) Forfeitures shall be reallocated at the end of the Plan Year during which the former Employee incurs his or her _______ (1st, 2nd, 3rd, or 4th) consecutive one year Break in Service.