Payment of Contributions. Payment of contributions by the Employer required to be made to one or more of the Trusts established under this Article 15 shall be made on or before the twentieth (20th) day of each month based upon hours worked exclusive of overtime hours during the preceding calendar month by each employee covered by this collective bargaining Agreement. Such payments shall be accompanied by a list of the names of the employees for whom such contribution is made, showing the number of hours worked, exclusive of overtime hours, by each such employee during the preceding calendar month. Time during vacation periods, sick leave, jury duty and holiday absences which is paid for as provided under this collective bargaining Agreement herein referred to and all work performed on Sundays and holidays, exclusive of daily or weekly overtime, shall be considered as time worked to which the provisions of this Article shall apply. The Trustees have the authority to adopt and maintain reasonable rules regarding the acceptance of contributions in connection with the resolution of grievances. It is understood that the contributions required on behalf of any employee shall not exceed forty (40) straight-time hours per week or two thousand eighty (2,080) straight-time hours per year. Contributions shall not be made for payments made on the basis of industry experience as set forth in Article 8-D and unused sick leave paid in accordance with Article 10-E. The Employer, by payment of the amounts provided for in this Article, shall be relieved of any further liability and shall not be required to make any further contributions to the cost of benefits, either in connection with the administration of the plans or otherwise. The parties recognize and acknowledge that regular and prompt filing of accurate Employer reports and the regular and prompt payment of correct Employer contributions to the Trusts is essential to the proper management of the Funds, and that it would be extremely difficult, if not impossible, to fix the actual expense and damage to the Trusts which would result from the failure of an individual Employer to make accurate reports and to pay such accurate monthly contributions in full within the time specified above. Therefore, the amount of damage to the Trusts resulting from failure to file accurate reports or pay accurate contributions within the time specified shall be presumed to be the sum of fifteen dollars ($15.00) or ten percent (10%) of the amount of the contributi...
Payment of Contributions. The amount of the Employer's contribution to the Plan for each Plan Year shall be paid to the Trustee either in a single payment or in installments. [Note: Failure to make quarterly contributions required under section 412(m) of the Code will result in he imposition of interest on the Employer]. In order to ensure a deduction for each Plan Year, the total amount of its contributions shall be made no later than the time prescribed by law for filing its federal income tax return for the fiscal year of the Employer ending with or within such Plan Year, including extensions thereof. All contributions made by an Employer shall be conditional upon their deductibility by the Employer for income tax purposes; provided, however, that no contributions shall be returned to the Employer except as otherwise provided in this Plan.
Payment of Contributions. All Health and Welfare payments shall be calculated on the bi-weekly pay period and shall be remitted and received by the Trust of the Health and Welfare Plan of UNITE HERE, prior to the fifteenth (15th) day of the following month. The Employer will be responsible for loss of benefits to any Employee because of any Employer’s default action in payments.
Payment of Contributions. Grand Premier has made when due all contributions required under each Employee Benefit Plan and under applicable laws and regulations.
Payment of Contributions. In respect of each Borrower Benefit Plan, Borrower has paid or will have paid as of the Closing Date (a) all contributions or premiums required to be made by it for all plan years ending on or prior to the Closing Date and, (b) for the plan year which includes the Closing Date, any contributions or premiums required to be made by it by the Closing Date under the terms of the Borrower Benefit Plan. Except as disclosed in Exhibit 8.11, Borrower is not obligated to pay any contributions or premiums to a Multiemployer Plan. Except as set forth in Exhibit 8.11, all contributions paid or accrued by Borrower on or prior to the Closing Date in respect of any Borrower Pension Plan that is a defined benefit plan have been based on the actuarial assumptions and methods used for the last plan year ended on or before the Closing Date, or if there is no prior plan year for any such plan, contributions have been based upon reasonable actuarial assumptions and methods.