Example ContractsClausesAcceleration of Small Amounts
Acceleration of Small Amounts
Acceleration of Small Amounts contract clause examples

No Adjustment for Small Amounts. Anything in this Section to the contrary notwithstanding, the Company shall not be required to give effect to any adjustment in the Exercise Price unless and until the net effect of one or more adjustments, determined as above provided, shall have required a change of the Exercise Price by at least one cent, but when the cumulative net effect of more than one adjustment so determined shall be to change the actual Exercise Price by at least one cent, such change in the Exercise Price shall thereupon be given effect.

Exception for Small Amounts. If a Participant whose Vested Account exceeds One Thousand Dollars ($1,000) but does not exceed Five Thousand Dollars ($5,000) incurs an Event of Maturity (other than death) and the Participant does not elect # to have the distribution rolled over to an eligible retirement plan specified by the Participant in a direct rollover, or # to receive the distribution directly, the Committee shall direct the Trustee to pay the distribution in a direct rollover to an individual retirement account or annuity described in [section 408(a) or 408(b)])] of the Code as soon as administratively following such Event of Maturity. If a Participant whose Vested Account does not exceed One Thousand Dollars ($1,000) incurs an Event of Maturity (other than death), the Committee shall direct the Trustee to distribute such Vested Account in a single lump sum payment as soon as administratively practicable following such Event of Maturity without an application for distribution. Upon the death of a Participant whose Vested Account does not exceed Five Thousand Dollars ($5,000), such Participant’s Vested Account shall be distributed to the Beneficiary in a single lump sum as soon as administratively practicable following such Participant’s death without an application for distribution. A Participant who has no Vested interest in the Participant’s Account as of the Participant’s Event of Maturity shall be deemed to have received an immediate distribution of the Participant’s entire interest in the Plan as of such Event of Maturity.

Small Payments. Notwithstanding the provisions of [Sections 6.2], in the event the amount to be paid to or on behalf of a Participant pursuant to [Section 6.2] in settlement of any Award shall be less than the limit applicable under Reg. 1.409-A(3)(j)(v), such amount shall be paid to the Participant or his beneficiary, as the case may be, in a single lump sum payment as soon as practicable following the Settlement Date.

Small Accounts. The Committee may, in its sole discretion, distribute in a single lump sum the aggregate amounts credited to the Participant’s Account, along with any related earnings, provided: # the distribution results in the payment of the Participant’s entire interest in the Account and all Aggregated Plans, and # the total payment does not exceed the applicable dollar limit under Code [section 402(g)(1)(B)]. The Committee shall notify the Participant in writing if the Committee exercises its discretion pursuant to this Section.

Cash-Out of Small Amounts. Any contrary provision or election notwithstanding, if the Participant’s Account balance is less than one hundred thousand dollars ($100,000) as of the date installments are to commence, the Account shall be paid to the Participant in a single lump-sum, as full settlement of all benefits due

Cash-Out of Small Amounts. Any contrary provision or election notwithstanding, if the amount payable to the Beneficiary is less than one hundred thousand dollars ($100,000) as of the date installments are to commence, the benefit shall be paid to the Beneficiary in a single lump-sum, as full settlement of all benefits due under the Plan, subject, however, to any limitation on such cash-out under Code § 409A or any regulations or other guidance issued by the Treasury Department thereunder.

Acceleration of Small Amounts. Any contrary provision or election notwithstanding, if the Participant’s Account balance is less than one hundred thousand dollars ($100,000) as of the date installments are to commence, the Account shall be paid to the Participant in a single lump-sum, as full settlement of all benefits due under the Plan; provided that, for purposes of applying the one hundred thousand dollar ($100,000) acceleration limit, all nonqualified deferred compensation amounts payable to the Participant by RLI and its Affiliates shall be aggregated if and to the extent required under Code § [[Unknown Identifier]] or any regulations or other guidance issued by the Treasury Department thereunder.

Acceleration of Small Amounts. Any contrary provision or election notwithstanding, if the amount payable to the Beneficiary is less than one hundred thousand dollars ($100,000) as of the date installments are to commence, the benefit shall be paid to the Beneficiary in a single lump-sum, as full settlement of all benefits due under the Plan, subject, however, to any limitation on such acceleration under Code § [[Unknown Identifier]] or any regulations or other guidance issued by the Treasury Department thereunder.

Acceleration of Undrawn Amounts. Should the Administrative Agent demand payment of the Obligations hereunder prior to the Maturity Date pursuant to Section 10.2, the Administrative Agent, by written notice to the Borrowers, may take one or both of the following actions: # declare the obligation of the Letter of Credit Issuer to issue Letters of Credit hereunder terminated, whereupon such obligations shall forthwith terminate without any other notice of any kind; or # declare the Letter of Credit Liability to be forthwith due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby waived, and demand that the Borrowers pay to the Administrative Agent for deposit in a segregated interest-bearing Cash Collateral Account, as security for the Obligations, an amount equal to the aggregate undrawn stated amount of all Letters of Credit then outstanding at the time such notice is given. Unless otherwise required by Applicable Law, upon the full and final payment of the Obligations, the Administrative Agent shall return to the Borrowers any amounts remaining in said Cash Collateral Account.

Small Accounts. Notwithstanding any provision in the Plan to the contrary, in the event the aggregate value of a Participant’s vested Accounts under the Plan is equal to or less than the amount determined under Section 402(g) of the Code as in effect for the applicable Plan Year ($19,500 for 2020), then the Participant’s Accounts shall be distributed to the Participant (or his or her Beneficiary, as applicable) in a lump sum within 60 days following the Participant’s Separation from Service, subject to the six-month delay required by [Section 409A], if applicable.

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