Exclusive Benefit of Participants. Notwithstanding anything in the Plan to the contrary, the Trust Fund shall be held for the benefit of all persons who shall be entitled to receive payments under the Plan. Subject to Section 3.10, it shall be prohibited at any time for any part of the Trust Fund (other than such part as is required to pay expenses) to be used for, or diverted to, purposes other than for the exclusive benefit of Participants or their Beneficiaries.
Exclusive Benefit of Participants. Neither the segregation and transfer of the Trust assets upon the withdrawal of a Participating Company nor the execution of a new agreement and declaration of trust by such withdrawing Participating Company shall operate to permit any part of the Trust Fund to be used for or diverted to purposes other than for the exclusive benefit of the Participants.
Exclusive Benefit of Participants. Employer Contributions under the Plan shall be irrevocably made for the exclusive benefit of the Participants and their Beneficiaries and no part of said contributions or earnings thereon shall in any event revert to the Employer, except as otherwise provided herein. If an Employer Contribution is non-deductible or was made due to a mistake in fact, then the non-deductible or mistaken contribution may be returned to the Employer, provided that the return is accomplished within one year after the date the contribution is determined to be non-deductible or the mistaken contribution was made. With respect to contributions returned pursuant to this section, earnings attributable to the contributions shall not be returned to the Employer but losses attributable thereto shall reduce the amount to be returned. In addition, if the return of contributions pursuant to this section would reduce the Account of any Participant to an amount that is less than the balance that would have been in the Account if the mistaken or nondeductible amount not been contributed, then the amount to be returned to the Employer shall be limited to avoid such reduction.
Exclusive Benefit of Participants. Except in the case of a Qualified Domestic Relations Order as defined in Section 414(p) of the Internal Revenue Code of 1986, as amended, it shall be impossible at any time prior to the satisfaction of all liabilities to the Participants for any part of the Fund, other than such part as is required to pay taxes, administrative expenses or refund contributions as provided elsewhere herein, to be used for, or diverted to, purposes other than the exclusive benefit of the Participants.
Exclusive Benefit of Participants. 49 B. PLAN NOT A CONTRACT OF EMPLOYMENT.......................................................................49 C.
Exclusive Benefit of Participants. All contributions made by an Employer are conditional upon qualification of the Plan under IRC ss. 401(a) and upon deductibility under IRC ss. 404. Notwithstanding anything in the Plan to the contrary, it shall be prohibited at any time for any part of the Fund (other than such part as is required to pay taxes and administration expenses) to be used for, or diverted to, purposes other than for the exclusive benefit of the Participants or their Beneficiaries, except that upon the direction of the Administrative Committee (a) any contribution made by an Employer by a mistake of fact shall be returned to an Employer within one year after the payment of the contribution; (b) any contribution shall be returned to the Employer within one year after the denial of initial qualification of the Plan under IRC ss. 401(a), if the application for initial qualification determination is filed by the due date of the Employer's return for the taxable year in which the Plan is adopted; (c) any contribution shall be returned to the extent disallowed as a deduction under IRC ss. 404 within one year after the disallowance of the deduction; and (d) any contribution which would otherwise be an excess contribution (as defined in IRC ss. 4979(c)) may be returned to the extent necessary as a correcting distribution to avoid payment of an excise tax on such excess contributions.
Exclusive Benefit of Participants. The Plan has been entered into for the exclusive benefit of the Participants and their Beneficiaries. The Trust Fund shall be held and administered for the exclusive purpose of providing benefits to Participants and their Beneficiaries and defraying reasonable expenses of the Plan and Trust. Prior to satisfaction of all liabilities to Participants and their Beneficiaries, no part of the Trust Funds may at any time be used for or diverted to purposes other than the exclusive benefit of the Participants and their Beneficiaries, except as specifically provided otherwise in this Plan. * * * * End of Article 16 * * * *
Exclusive Benefit of Participants. At no time may any part of the Trust (other than such part as is required to pay expenses) be used for, or diverted to, purposes other than for the exclusive benefit of Participants or their Beneficiaries, except that, upon the direction of the Administrative Committee:
Exclusive Benefit of Participants. Notwithstanding anything in the Plan to the contrary, the Trust Fund shall be held for the benefit of all persons who shall be entitled to receive payments
Exclusive Benefit of Participants. All Employer Contributions will be irrevocable when made and will not revert to the Employers, except as provided in Subsection 4.1(h) below. All Employer Contributions and attributable earnings will be used for the exclusive benefit of Participants and their Beneficiaries and for paying the reasonable expenses of administering the Plan.
