Distributable event Transfer Clause Samples
The Distributable Event Transfer clause defines the process by which rights or obligations related to a distributable event are transferred from one party to another. Typically, this clause outlines the conditions under which such a transfer can occur, such as requiring prior written consent or notification, and may specify the types of events or assets that are eligible for transfer. Its core practical function is to provide a clear mechanism for the reassignment of interests or responsibilities, thereby ensuring continuity and reducing uncertainty in the event of changes in ownership or participation.
Distributable event Transfer. A distributable event Transfer means a Transfer under Treas. Reg. §1.411(d)-4 Q/A-3(c), between Code §401(a) plans, and which a Participant elects. Under this Section 11.06(E)(3), the Account must be distributable at the time of Transfer, but not entirely as a Lump-Sum which is an Eligible Rollover Distribution. Protected Benefits do not carry over to the transferee plan.