Source of Restoration Sample Clauses
The 'Source of restoration' clause defines the origin of funds or resources used to restore a property, asset, or service to its original or agreed-upon condition after damage or loss. Typically, this clause specifies whether restoration will be funded by insurance proceeds, the responsible party, or another designated source. For example, if a leased property is damaged, the clause may clarify whether the landlord, tenant, or an insurer is responsible for covering restoration costs. Its core practical function is to allocate financial responsibility and prevent disputes by clearly identifying who must pay for restoration in the event of damage.
Source of Restoration. Any restoration under (B) above shall be made from available forfeitures before any other allocation thereof, and, if such forfeitures are insufficient, then the Employer shall contribute the difference.
Source of Restoration. To restore the Participant's Account Balance, the Plan Administrator, to the extent necessary, will allocate to the Participant's Account:
Source of Restoration. The amount necessary to make the restoration required under Section 6.2.2 shall come first from the forfeitures of Participants of the rehiring Employer. If such forfeitures are not adequate for this purpose, the rehiring Employer shall make a contribution adequate to make the restoration (in addition to any contributions made under Section 3). If the Participant is rehired by an Affiliate that is not an Employer, the amount necessary to make the restoration shall come first from the forfeitures of Participants of the Principal Sponsor and, if such forfeitures are not adequate for this purpose, then the Principal Sponsor shall make a contribution adequate to make the restoration (in addition to any contributions made under Section 3).