Distribution on Termination. If the Account is terminated for any reason by the Custodian, the balance held in each Account for the benefit of a Participant, spouse of a Participant, or Beneficiary or Beneficiaries shall be distributed by the Custodian to a successor custodian or trustee, in accordance with Article VIII, Section 8, of the Plan.
Distribution on Termination. Upon a dissolution and termination of the Company, the person appointed by the Member (the “Liquidator”) shall collect and marshal the Company’s assets, sell such assets as such Liquidator shall deem appropriate, provide for the payment of all of the legally enforceable obligations of the Company that are not then due and distribute the proceeds and all other assets of the Company in the following order:
Distribution on Termination. The Trust shall terminate when there are no living beneficiaries who are under 25 years of age. On termination, the Trustee shall distribute the Trust property (including all income then accrued but uncollected and all net income then remaining in the hands of the Trustee) outright to the then-living beneficiaries.
Distribution on Termination. On termination of the Company, assets shall be distributed and applied by the Company in the following order and priority:
Distribution on Termination. If, on the Date of Termination, any income remains in the Savings Account such income will be paid:
Distribution on Termination. In the event this Trust or any Plan is terminated or partially terminated, the Trustees are authorized and empowered to dispose of the Trust assets attributable to the terminated Plan (or portion thereof) in accordance with any plan, purpose or method conforming to the purposes of the Employee Retirement Income Security Act of 1974 and the objective of this Agreement, including but not limited transferring such funds to another employee benefit plan providing for similar benefits.
Distribution on Termination. In the event of termination of the Trust, all assets then constituting the Trust Fund, less any amounts constituting charges against the Trust Fund, shall be retained in trust by the Trustees for the Beneficiaries or shall be paid over or delivered by the Trustees to the Administrator to provide payments to the Beneficiaries. In no event upon the termination of the Trust shall the assets of the Trust Fund inure to the benefit of the Company, OSM or the USWA.
Distribution on Termination. Any termination shall result in the University and the Port receiving their respective share of the Crossing Development assets as provided herein. The value may include a return of funds or real or personal property contributed by that party.
Distribution on Termination. In the event of the rescission or termination of this Agreement and the dissolution of the Authority, all of the assets of the Authority shall immediately vest in the entities that are Parties at the time of rescission or termination, subject to any outstanding liens, mortgages, distributions to prior withdrawing Participants or Parties, or other pledges of such assets. The interest in the general assets of the Authority conveyed to each Party shall be that proportion which the total amount paid by such Party to the Authority for such assets bears to the total dollar amount of all payments made to the Authority by all Parties. The Parties may, however, otherwise provide, by unanimous agreement, for disposition of any and all interests of the Authority to any successors to the Authority, or for any alternative disposition among the Parties or to third parties upon payment of adequate consideration therefore.
Distribution on Termination. Upon the termination of the trust by reason of any of the events specified in Sections 4.3, 4.4, or 4.5, the Trustees shall proceed as promptly as possi- ble to convert the Trust Estate into cash or other property and the Trustees shall distribute to the Certifi- xxxxx Holders, pro rata according to the number of Units outstanding at the date fixed by the Trustees for distribution, the net proceeds (the “net proceeds” means the total cash or other property received as a re- xxxx of the conversion of the Trust Estate to cash or such other property less (i) expenses of such conver- sion, (ii) liabilities hereunder and (iii) such reserve as the Trustees deem necessary to establish to meet liabilities hereunder), provided, however, that if the Trustees determine that it will be in the best interests of the Certificate Holders not to convert part or all of the Trust Estate into cash or other property, the Trust Estate not so converted shall be distributed in kind to the Certificate Holders, pro rata according to the number of Units outstanding at the date of distribution. Each distribution of cash hereunder shall be made by mailing checks to the Certificate Holders of record at the close of business on the date fixed by the Trustees for such distribution at their addresses as shown by the register maintained by the Trustees. Each distribution of other property and distribution in kind may be made by mailing appropriate instru- ments of title to the Certificate Holders of record at the close of business on the date fixed by the Trustees for such distribution at their addresses as shown by the register maintained by the Trustees. Notwith- standing the foregoing, in the event that at the time of any termination and distribution contemplated in this Section 4.7, there then remain outstanding shares of the Company not yet presented for conversion into Units pursuant to the provisions of Section 3.10, the Trustees shall set apart an amount equal to the aggregate distributions which would be required if all of such shares were so converted into Units on the day prior to the first such termination distribution, which such amounts set apart shall be disbursed, dis- tributed, or retained in the manner provided by order of a court of competent jurisdiction of the State of Delaware to which application shall duly and promptly be made by the Trustees. Effective July 1, 2005, the Trust is no longer required to set aside any amount for claims by the Unlocated Stockholders upo...
