Distribution Upon Termination

12.02 - If the Plan is terminated, no further contributions shall be made by any Participating Employer or any Participant after the date of termination. The Trustees shall give timely notice to the Financial Services Commission of Ontario and shall comply with its rules and procedures. As soon as is permitted, the Trustees shall thereupon cause all amounts in the Trust Fund to be allocated and applied to the payment or provision for payment of benefits, in the manner and order set forth in the Pension Benefits Act.

If, after the payment of all benefits to which Participants affected by a Plan termination are entitled, there are assets attributable to such Participants remaining in the Trust Fund, such assets will first be used to provide benefits described in Sections 7.02 and 7.03 of the Plan to affected Participants who are eligible for such benefits.