Article III, Section 4
Section 4. Mode of Payment and Treatment of Unpaid Monies.
- All contributions of the Employer shall be made payable
to the Fund by transmitting to the Directors a check payable to the Trustee,
shall be payable weekly and shall be due 10 working days (due date) following
the date on which compensation is paid to the Participant or to the Participant’s
corporation. An additional 30 day grace period will be given before the payment
is delinquent. If the payment is not made within this period, interest and
liquidated damages on the delinquent payment will be charged from the due
date in accordance with Section 5 of this Article.
- A Participant shall receive credit toward eligibility for
benefits, based upon monies due to the Plan but which are unpaid, unless the
delinquent Employer is considered (pursuant to resolutions of the Directors)
to be the Participant’s loan-out corporation.
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