Restriction on Amendment Clause Samples
Restriction on Amendment. No amendment to the Plan shall deprive a Participant of his or her nonforfeitable rights to benefits accrued to the date of the amendment. Further, if the vesting schedule of the plan is amended, each Participant with at least three (3) years of service for vesting with the Employer may elect, within a reasonable period after the adoption of the amendment, to have his or her nonforfeitable percentage computed under the Plan without regard to such amendment. The period during which the election may be made shall commence with the date the amendment is adopted and shall end on the latest of:
(1) sixty (60) days after the amendment is adopted;
(2) sixty (60) days after the amendment becomes effective; or
(3) sixty (60) days after the Participant is issued written notice of the amendment by the Employer, the Senior Vice President or the Administrator. The preceding language concerning an amendment to the Plan’s vesting schedule shall also apply when a Plan with a different vesting schedule is merged into this Plan. In addition to the foregoing, the Plan shall not be amended so as to eliminate an optional form of payment of an Accrued Benefit attributable to employment prior to the date of the amendment. The foregoing limitations do not apply to benefit accrual occurring after the date of the amendment.
Restriction on Amendment of this Agreement. Enter into or otherwise become subject to or suffer to exist any agreement which would require it to obtain the consent of any other person as a condition to the ability of the Banks and AeroCentury to amend or otherwise modify this Agreement.
Restriction on Amendment of the Trust following a Change in Control. There is hereby added to Section 12.1 a new sentence to read as follows: "Notwithstanding the foregoing, for a period of five (5) years following a Change in Control, the Trust may not be amended without the written consent of a majority of Participants who are entitled to any future benefit under the Plan at the time of such amendment." ************************************************** The terms of the Trust not hereby amended shall be and remain in full force and effect and are not affected by this Amendment.
Restriction on Amendment. Notwithstanding the provisions of Section 7.1, no amendment to this Operating Agreement may occur, if the effect of such amendment would, in any way, adversely affect the perfection of any security interest in a Membership Interest held by any Member as provided in any security agreement relating to the Credit Facility, including electing to treat the Membership Interest held by such Member as a security under Section 8-103 of the UCC or to otherwise adversely affect the Secured Parties (as defined in the Credit Facility).
Restriction on Amendment. This Article shall not be amended as provided in Article XII, Section 12.5, to eliminate or substantially impair the obligation to fix the Regular Assessments at an amount sufficient to properly operate the Association, maintain and operate the Common Area and perform the maintenance required to be performed by the Association under this Declaration without the written consent of the Developer.