Partial Distributions Clause Samples
The Partial Distributions clause allows for the distribution of funds or assets to beneficiaries or stakeholders in increments, rather than waiting for a final, complete distribution. In practice, this means that as certain assets become available or as specific conditions are met, a portion of the total distributable amount can be paid out, with the remainder to follow at a later date. This approach provides flexibility and timely access to resources, addressing situations where a full distribution may be delayed due to ongoing administration, unresolved claims, or the need to retain reserves for potential liabilities.
Partial Distributions. Any distribution of less than the entire amount of Excess Aggregate Contributions (and allocable income) with respect to any HCE is treated as a pro rata distribution of Excess Aggregate Contributions and allocable income.
Partial Distributions. If, upon any such Liquidation Event, the assets of the Corporation to be distributed in respect of the Series B Preferred Stock and any Parity Stock are insufficient to permit payment in respect thereof of the aggregate amount to which they are entitled under this Certificate of Designations upon such Liquidation Event, then the entire assets available to be distributed to the holders of Series B Preferred Stock and the Parity Stock shall be distributed pro rata among such holders of Series B Preferred Stock and Parity Stock based upon the aggregate amounts to which they would otherwise be entitled upon such Liquidation Event with respect to such Series B Preferred Stock or Parity Stock, as applicable.
Partial Distributions. If a Participant’s Beneficiary receives a distribution of less than 100% of the Participant’s Vested Aggregate Account balance, then the Administrator will determine the portion (including zero) of the distribution that will be made from each of the Participant’s sub-accounts, provided that any such determination is made in a uniform manner that does not discriminate in favor of Participants who are Highly Compensated Employees.
Partial Distributions. A Participant (or his or her Beneficiary after the Participant’s death) may elect to have a portion of the total vested balance of the Accounts of such Participant distributed. The Participant or his or her Beneficiary after the Participant’s death, must provide the Administrator written notice prior to the partial distribution.
Partial Distributions. Subject to the rights of any Senior Stock in connection therewith, if, upon any Liquidation Event, the assets of the Corporation to be distributed in respect of the Series A Preferred Stock and any Parity Stock are insufficient to permit payment in respect thereof of the aggregate amount to which they are entitled under this Certificate of Designations upon such Liquidation Event, then the entire assets available to be distributed to the holders of Series A Preferred Stock and any Parity Stock shall be distributed pro rata among such holders of Series A Preferred Stock and any Parity Stock based upon the aggregate amounts to which they would otherwise be entitled upon such Liquidation Event.
Partial Distributions a. ☒ Partial Distributions to Participants. Participant whose employment terminates or who is entitled to commence payment while employed, as provided in 27.3 above, may elect partial distribution from time to time
b. ☒ Partial Distributions to Beneficiaries. Subject to the rules described in 27.6 below, a Beneficiary entitled to payment may elect partial distribution from time to time
Partial Distributions. When the child reaches the age of twenty-five (or upon the funding of the child’s trust if the child has reached that age), the Trustee shall distribute one-third of the principal, as of the distribution date, to the child and shall distribute to the child one- third of any subsequent addition to the trust. When the child reaches the age of thirty (or upon the funding of the child’s trust if the child has reached that age), the Trustee shall distribute one-half of the principal, as of the distribution date, to the child (after having distributed to the child one-third of the principal if the child shall not have had such one- third distributed as provided above) and shall distribute to the child one-half of any subsequent addition to the trust.
Partial Distributions. The payment of the Annual Distribution may be made on one lump sum or in a series of distributions as determined by the Finance Committee in its discretion.