Common use of Sources of Distribution Clause in Contracts

Sources of Distribution. Unless provided otherwise in separate administrative provisions adopted by the Plan Administrator, in applying the distribution provisions under this Article 8, distributions will be made on a pro rata basis from all Accounts from which a distribution is permitted under this Article. Alternatively, the Plan Administrator may permit Participants to direct the Plan Administrator as to which Account the distribution is to be made. Regardless of a Participant’s direction as to the source of any distribution, the tax effect of such a distribution will be governed by Code §72 and the regulations thereunder.

Appears in 2 contracts

Samples: Prudential Retirement Services (National Penn Bancshares Inc), Plan and Trust Agreement (Mercantile Bancorp, Inc.)

AutoNDA by SimpleDocs

Sources of Distribution. Unless provided otherwise in separate administrative provisions adopted by the Plan Administrator, in applying the distribution provisions under this Article 8, distributions will be made on a pro rata basis from all Accounts from which a distribution is permitted under this Article. Alternatively, the Plan Administrator may permit Participants to direct the Plan Administrator as to which Account the distribution is to be made. Regardless of a Participant’s direction as to the source of any distribution, the tax effect of such a distribution will be governed by Code §72 457 and the regulations thereunderthere under. Nothing in this Article precludes the Plan from making a distribution in the form of property, or other in-kind distribution.

Appears in 1 contract

Samples: www.fortmyersbeachfl.gov

Sources of Distribution. Unless provided otherwise in separate administrative provisions adopted by the Plan Administrator, in applying the distribution provisions under this Article 8, distributions will be made on a pro rata basis from all Accounts from which a distribution is permitted under this Article. Alternatively, the Plan Administrator may permit Participants to direct the Plan Administrator as to from which Account the distribution is to be made. Regardless of a Participant’s 's direction as to the source of any distribution, the tax effect of such a distribution will be governed by Code §?72 and the regulations thereunder.

Appears in 1 contract

Samples: Capital Corp of the West

AutoNDA by SimpleDocs

Sources of Distribution. Unless Except as otherwise provided in the Investment Arrangement, and unless provided otherwise in separate administrative provisions adopted by the Plan Administrator, in applying the distribution provisions under this Article 8Section 7, distributions will be made on a pro rata basis from all Accounts from which a distribution is permitted under this Articlepermitted. Alternatively, the Plan Administrator may permit Participants to direct the Plan Administrator as to which Account the distribution is to be made. Regardless of a Participant’s direction as to the source of any distribution, the tax effect of such a distribution will be governed by Code §72 and the regulations thereunder.

Appears in 1 contract

Samples: www.placer.ca.gov

Time is Money Join Law Insider Premium to draft better contracts faster.