Common use of Timing of Contributions Clause in Contracts

Timing of Contributions. An Employer matching or nonelective contribution is deemed to have been made on the last day of the preceding taxable year if the contribution is made by the deadline for filing the Employer’s income tax return (including extensions) for the taxable year that includes the last day of the Plan Year for which the contributions are made, or such later date as may be determined by the Department of the Treasury or the IRS. Salary reduction contri- butions are made prospectively on a calendar year basis, and must be contributed to a Depositor’s Account, in a form and manner acceptable to the Custodian, as soon as such contributions can reasonably be segregated from the Employer’s general assets, but in no event later than 30 calendar days following the last day of the month in which amounts were withheld from the Employee’s compensation. The Custodian will not be responsible under any circumstances for the timing, purpose, or propriety of any contribution, nor shall the Custodian incur any liability for any tax imposed on account of any contribution.

Timing of Contributions. An Employer matching or nonelective contribution is deemed to have been made on the last day of the preceding taxable year if the contribution is made by the deadline for filing the Employer’s income tax return (including extensions) for the taxable year that includes the last day of the Plan Year for which the contributions are made, or such later date as may be determined by the Department of the Treasury or the IRS. Salary reduction contri- butions contributions are made prospectively on a calendar year basis, and must be contributed to a Depositor’s Account, in a form and manner acceptable to the Custodian, as soon as such contributions can reasonably be segregated from the Employer’s general assets, but in no event later than 30 calendar days following the last day of the month in which amounts were withheld from the Employee’s compensationCompensation. The Custodian will not be responsible under any circumstances for the timing, purpose, or propriety of any contribution, contribution nor shall the Custodian incur any liability for any tax imposed on account of any contribution.

Timing of Contributions. An Employer matching or nonelective contribution is deemed to have been made on the last day of the preceding taxable year if the contribution is made by the deadline for filing the Employer’s income tax return (including extensions) for the taxable year that includes the last day of the Plan Year for which the contributions are made, or such later date as may be determined deter- mined by the Department of the Treasury or the IRS. Salary reduction contri- butions contributions are made prospectively on a calendar year basis, and must be contributed to a Depositor’s Account, in a form and manner acceptable to the Custodian, as soon as such contributions can reasonably be segregated from the Employer’s general assets, but in no event later than 30 calendar days following the last day of the month in which amounts were withheld from the Employee’s compensation. The Custodian will not be responsible under any circumstances for the timing, purpose, purpose or propriety of any contribution, contribution nor shall the Custodian incur any liability for any tax imposed on account of any contribution.