Distributable Benefit Sample Clauses
The "Distributable Benefit" clause defines the portion of profits or financial gains that are available to be distributed among stakeholders, such as shareholders or partners, after certain deductions or obligations have been met. Typically, this clause outlines how distributable amounts are calculated, specifying which revenues, expenses, taxes, or reserves are included or excluded from the calculation. Its core practical function is to ensure transparency and fairness in the allocation of profits, preventing disputes by clearly establishing what funds are eligible for distribution.
Distributable Benefit. At such time that the employment of a Participant terminates for any reason, he or his Beneficiary shall be entitled to a benefit equal to the vested and nonforfeitable interest in his Accounts as of the Distribution Date. Such Accounts shall include the allocable share of contributions and forfeitures, if any, which may be allocated to said Accounts as of such Distribution Date and shall be determined after making the adjustments for which provision is made in the Plan.
Distributable Benefit. At such time that the employment of a Participant terminates for any reason, he or his Beneficiary shall be entitled to a benefit equal to the vested and nonforfeitable interest in his Accounts as of the Distribution Date. Such Accounts shall include the allocable share of contributions and Forfeitures, if any, which may be allocated to said Accounts as of such Distribution Date and shall be determined after making the adjustments for which provision is made in the Plan. The vested and nonforfeitable interest of the Participant in any of his Accounts subject to the vesting schedule selected in the Adoption Agreement shall not increase after the date of the Participant's termination of employment.
Distributable Benefit. Distributable Benefit" shall mean the Vested Interest of a Participant in this Plan which is determined and distributable to the Participant in accordance with the provisions of Articles 8., 9. and 10.