Common use of Inalienability Clause in Contracts

Inalienability. No Participant shall have the right to assign, transfer, encumber, or anticipate the Participant's interest in the Trust Fund, or any payments to be made under this Plan, and no benefits, payments, rights, or interest of a Participant of any kind or nature shall be in any way subject to any legal process to levy upon, garnishee, or attach the same for payment of any claim against a Participant, except as provided in Section 6.8; nor shall any Participant have any right to receive distributions except as they are lawfully made out of the Trust Fund as and when due and payable under the terms of this Plan. Notwithstanding the anything herein to the contrary, to the extent permitted by Code Section 401(a)(13), the benefits payable under this Plan may be offset by an amount set forth in a court order, judgment, consent order, decree or settlement agreement in connection with a breach of fiduciary duty owed to the Plan.

Inalienability. No Participant shall have the right to assign, transfer, encumber, or anticipate the Participant's ’s interest in the Trust FundTrust, or any payments to be made under this Plan, and no benefits, payments, rights, or interest of a Participant of any kind or nature shall be in any way subject to any legal process to levy upon, garnishee, or attach the same for payment of any claim against a Participant, except as provided in Section 6.8; nor shall any Participant have any right to receive distributions except as they are lawfully made out of the Trust Fund as and when due and payable under the terms of this Plan. Notwithstanding the anything herein to the contrary, to the extent permitted by Code Section 401(a)(13), the benefits payable under this Plan may be offset by an amount set forth in a court order, judgment, consent order, decree or settlement agreement in connection with a breach of fiduciary duty owed to the Plan.