Common use of Deemed Distribution Clause in Contracts

Deemed Distribution. For purposes of Section 8.4, if at the time a Participant's employment with all Related Companies has terminated, the Participant's vested Account balance attributable to Accounts subject to vesting as described in Section 8, is zero, his or her vested Account balance shall be deemed distributed as of the Settlement Date following the Sweep Date on which the Administrator has reported to the Trustee that the Participant's employment with all Related Companies has terminated.

Deemed Distribution. For purposes of Section 8.48.4 (“Forfeitures”), if at the time a Participant's ’s employment with all Related Companies has terminated, the Participant's ’s vested Account balance is zero in all Accounts attributable to Accounts subject to vesting as described in Section 8Employer contributions (including, is zerofor this purpose, Salary Deferral Contributions), his or her vested Account balance shall be deemed distributed as of the Settlement Date following the Sweep Date date on which the Administrator has reported to the Trustee that the Participant's ’s employment with all Related Companies has terminated.