Plan Distributions. The Disbursing Agent shall make all Plan Distributions. In the event a Plan Distribution is payable on a day other than a Business Day, such Plan Distribution shall instead be paid on the immediately succeeding Business Day, but shall be deemed to have been made on the date otherwise due. For federal income tax purposes, except to the extent a Plan Distribution is made in connection with reinstatement of an obligation pursuant to section 1124 of the Bankruptcy Code, a Plan Distribution will be allocated first to the principal amount of a Claim and then, to the extent the Plan Distribution exceeds the principal amount of the Claim, to the portion of the Claim representing accrued but unpaid interest.
Plan Distributions. Pursuant to the terms and provisions of the Plan, the Disbursing Agent shall make the required Plan Distributions specified under the Plan on the relevant Plan Distribution Date therefor.
Plan Distributions. The Surviving Corporation and its Subsidiaries shall, or Parent shall cause the Surviving Corporation and its Subsidiaries to, cause a distribution of vested account balances from the Company's 401(k) plan, to each employee participating in the plan who terminates employment with the Company and all ERISA Affiliates after the Closing Date, as soon as administratively feasible following such employee's termination of employment, to the extent permissible under applicable law and not inconsistent with any other contractual obligation of the Surviving Corporation, its Subsidiaries or Parent; provided, however, the preceding shall not prohibit the transfer of the assets and liabilities of any Company 401(k) plan to a 401(k) plan of the Parent.
Plan Distributions. Except as provided under Article 9 (Joint and Survivor Annuity Requirements), this Article 8 governs all distributions to Participants under the Plan. Sections 8.1 and 8.2 set forth the available distribution options under the Plan and the amount available for distribution. Section 8.3 sets forth the Participants’ distribution options following termination of employment, Section 8.4 discusses the distribution options upon a Participant’s death, and Sections 8.5 and 8.6 set forth the in-service distribution options under the Plan, including the conditions for receiving a Hardship distribution. Parts 9 and 10 of the Agreement contain the elective provisions for the Employer to identify the timing of distributions and the permitted distribution events under the Plan.
Plan Distributions. The Company Employees shall not be eligible to participate in Buyer's defined benefit pension plan. The Company Employees shall be eligible to participate in Buyer's 401(k) plan from and after the Closing Date. In the event that the Company Employees are provided with the opportunity to elect eligible rollover distributions from their account balances under Parent's 401(k) Plan ( i.e. ,the Plan in which they participate as of the date of this Agreement), Buyer's 401(k) plan shall accept such rollovers from such electing Company Employees into their accounts under the Buyer's 401(k) plan.
Plan Distributions. 8.1 Distribution Options 43 8.2 Amount Eligible for Distribution 43 8.3 Distributions After Termination of Employment 43 (a) Account Balance exceeding $5,000 43 (b) Account Balance not exceeding $5,000 44 (c) Permissible distribution events under a 401(k) plan 44 (d) Disabled Participant 44 (e) Determining whether vested Account Balance exceeds $5,000 44 (f) Effective date of $5,000 vested Account Balance Rule 45
Plan Distributions. Administrative Claims and Priority Claims Paid in full in cash. Secured Tax Claims, Other Secured Claims Unimpaired. Senior Secured Term Loan The WTI Loan shall be impaired. The WTI Loan shall be paid on the Effective Date in cash at par, without any accrued post-petition interest, premium or penalty, including any pre-payment or change of control penalty. General Unsecured Claims Each holder of an allowed General Unsecured claim shall receive cash for the full amount of its allowed claim, without post-petition interest. Securities Litigation Claims Each holder of an allowed Securities Litigation Claim (i.e., the pending securities class action lawsuit and pending stockholder derivative suits) shall be paid pro rata from all rights of the Company in and to available insurance proceeds. All Equity Interests and Subordinated Claims (other than Securities Litigation Claims). In return for their equity interests in the Debtor the holders of equity interests shall receive the Warrants. Holders of allowed Subordinated Claims, to the extent not otherwise covered by insurance proceeds, shall be entitled to receive the Warrants on a pro rata basis along with equity interests as a single class. Closing Conditions:
Plan Distributions. Effective as of the Closing Date, Continuing Employees shall be deemed terminated from employment for purposes of the DXT 401(k) Plan in accordance with Code Section 401(k) and the regulations thereunder, and to the extent permitted, shall be entitled to a distribution of their respective account balance or an eligible rollover distribution to Buyer's 401(k) Plan in accordance with Code Section 401(a)(31).
Plan Distributions. Notwithstanding the provisions regarding the treatment of Differential Pay and unless otherwise elected under AA §10-1(l), an individual may be treated as having been severed from employment during any period the individual is on active duty for a period of at least 30 days while performing service in the Uniformed Services for purposes of receiving a Plan distribution under Code §401(k)(2)(B)(i)(I). If an individual elects to receive a distribution while on military leave, the individual may not make Salary Deferrals or Employee After-Tax Employee Contributions under the Plan during the 6-month period beginning on the date of the distribution. However, a distribution under this provision that is also a Qualified Reservist Distribution is not subject to the 6-month suspension.
Plan Distributions. Effective as of the Closing Date, Continuing Employees who participate in the Crompton 401(k) Plan shall be deemed terminated from employment solely for purposes of the Crompton 401(k) Plan in accordance with Code Section 401(k) and the regulations thereunder, and to the extent permitted, shall be entitled to a distribution of their respective account balance or an eligible rollover distribution to Buyers' 401(k) Plan in accordance with Code Section 401(a)(31). Buyers' 401(k) Plan shall provide for the receipt of such rollover.
