Common use of Exclusive Benefit of Participants Clause in Contracts

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.

Appears in 7 contracts

Samples: Adoption Agreement (Innerdyne Inc), Adoption Agreement (Gadzooks Inc), Merrill Lynch (Media 100 Inc)

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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 3.103.8, it shall be prohibited at any time for any part the corpus or income of the Trust Fund may not (other than such part as is required to pay expenses) to be used for, for or diverted to, purposes other than for the exclusive benefit of Participants or their BeneficiariesBeneficiaries and for defraying reasonable expenses of administering the Plan.

Appears in 2 contracts

Samples: Non Standardized (Atlas America Inc), Comstock Resources Inc

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 expensesexpense) to be used for, or diverted to, purposes other than for the exclusive benefit of Participants or their Beneficiaries.

Appears in 1 contract

Samples: White Mountains Insurance Group Inc

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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 3.103.8, it shall be prohibited at any time for any part the corpus or income of the Trust Fund may not (other than such part as is required to pay expenses) to be used for, for or diverted to, purposes other than for the exclusive benefit of Participants or their Beneficiaries.Beneficiaries and for defraying reasonable expenses of administering the Plan. 121

Appears in 1 contract

Samples: Contribution Plan and Trust (Triad Guaranty Inc)

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