Common use of Initial Participation Clause in Contracts

Initial Participation. Effective as of the Election Date applicable to such Eligible Participant, an Eligible Participant may elect to participate in the UPP, subject to HCLP’s acceptance, by properly executing an Enrollment Agreement and filing such Enrollment Agreement with the Committee, or its delegate, at such time in advance of the applicable Election Date as the Committee shall prescribe. The terms of the Enrollment Agreement shall be established by the Committee.