Vesting on Termination. Each affected Participant’s interest shall be nonforfeitable to the extent funded upon actual termination, partial termination, or complete discontinuance of contributions, without regard to any formal written notice. Any such termination of the Plan shall be deemed to effect a termination of employment of each Participant for purpose of the Plan, and the Sponsor shall direct the distribution of the assets of the Trust to Participants in a manner consistent with the provisions of Article XI hereof as if each Participant had terminated Service with the Employer on the date of termination of the Plan. The Sponsor may elect to establish a wasting trust for the distribution of the Trust assets.
Vesting on Termination. In case the Plan shall terminate, or in the case of complete discontinuance of contributions under the Plan, the Employer contribution accounts and the Participant's contribution account of each Participant shall become fully and one hundred percent (100%) vested and nonforfeitable. Effective as of the date of termination or discontinuance of contributions, each Participant's account shall be distributed to the Participant, under Section 6.01 (other than subsection c. thereof), or to his or her Beneficiary, if the Participant be not then living, in accordance with Section 7.03.
Vesting on Termination. Notwithstanding the provisions of Sections ---------------------- 4(b) above, in the event that Employee's employment is terminated by the Company or a successor to the Company without Cause under Section 5(a)(ii) below or as a result of a Constructive Termination under Section 5(a)(iv) below, 100% of the Shares that have not yet become vested shall become fully vested on the effective date of such termination of employment.
Vesting on Termination. Upon termination of the Plan or upon complete discontinuance of contributions to the Plan, the rights of all persons to their benefits accrued to the date of such termination or discontinuance shall be vested to the extent funded. The Administrator, acting upon the advice of an actuary, shall then determine upon the basis of the actuarial assumptions then in use as a basis for deposits and reserves:
Vesting on Termination. Upon termination of this Agreement for any reason, all interests of the Company in the Theatre and all of the Company’s other assets shall be conveyed by the Company to the City for no consideration. In the event that the City terminates this Agreement in accordance with the terms and conditions contained herein then the City will assume all outstanding contractual obligations and debts of the Company.
Vesting on Termination. Upon the termination of a Profit Unit Member’s employment for any reason other than by the Company for Cause, the Profit Unit Member shall forfeit all unvested Profit Units without the receipt of any payment or consideration in respect thereof as of the Profit Unit Member’s Services Termination Date, and any Profit Units that are vested as of such termination of employment or become vested as a result of such termination of employment will remain outstanding, subject to the Call Right. In the event that a Profit Unit Member’s Services are terminated by the Company for Cause, all Profit Units, regardless of whether vested or unvested, held by such Profit Unit Member as of such Profit Unit Member’s Services Termination Date shall be forfeited and cancelled for no consideration as of such Services Termination Date. For each forfeited Profit Unit, the Board may grant a new Profit Unit to a Member of the same type (i.e., Class A Profit Unit, Class B Profit Unit or Class C Profit Unit, as applicable) (a “Reallocated Profit Unit”), subject to vesting provisions and other terms and conditions as determined by the Board at the time of grant, provided that in all cases a Reallocated Profit Unit shall only be entitled to allocations and distributions of profits earned following the Grant Date.
