Financial Hardship. Must include verification appropriate to the circumstance and must demonstrate a loss of income that has occurred since the cancellation deadline as stated in Section III C. The Licensee must submit a copy of the current academic year financial aid award summary for evaluation. Students must show that they have exhausted all viable options, including taking out student loans before a consideration to cancel is made.
Financial Hardship. For purposes of Article 4.01(a)(3) of this Agreement, financial hardship is as an immediate and heavy financial need of the Participant, as described in Treasury Regulation 1.401(k)-1(d)(3), where such Participant lacks other available resources. Financial needs considered immediate and heavy include, but are not limited to, 1) expenses incurred or necessary for medical care, described in Code Section 213(d), of the Employee, the Employee’s primary Beneficiary, the Employee’s Spouse or dependents, 2) the purchase (excluding mortgage payments) of a principal residence for the Employee, 3) payment of tuition and related educational fees for the next 12 months of post-secondary education for the Employee, the Employee’s primary Beneficiary, the Employee’s Spouse, children or dependents, 4) payment to prevent the eviction of the Employee from, or a foreclosure on the mortgage of, the Employee’s principal residence, 5) funeral or burial expenses for the Participant’s deceased parent, Spouse, primary Beneficiary, child or dependent, and 6) payment to repair damage to the Employee’s principal residence that would qualify for a casualty loss deduction under Code Section 165 (determined without regard to whether the loss exceeds 10 percent of adjusted gross income). No distributions on account of financial hardship shall exceed the amount determined to be necessary to meet the immediate financial need created by the hardship as described in those same regulations and the Plan and that cannot be otherwise reasonably accommodated from other resources of the Participant. Any distribution made on account of the Participant’s financial hardship shall be made to the Participant in a single sum payment in cash pursuant to instructions provided in writing or in another form acceptable to the Custodian, and delivered to the Custodian. Hardship distributions described in this Article 4.02 may consist only of the amounts contributed pursuant to the Participant’s salary reduction agreement, excluding the earnings on such contributions. The determination of whether a financial hardship exists shall be made pursuant to the terms of the Plan or by the Participant if the Plan doesn’t contain such terms and not by the Custodian. A Participant who requests a distribution on account of financial hardship shall certify, in a manner acceptable to the Custodian, that a financial hardship exists. If the Participant receives a hardship distribution, they will be prohibited from making any...
Financial Hardship. 8.2.1 If at any time You believe You are in a situation of financial hardship, We invite You to contact Our Customer Service Team to discuss Your situation confidentially, and to see if You qualify for assistance in accordance with Our Financial Hardship Policy (a copy of which is available here).
Financial Hardship. An in-service withdrawal will be on account of financial hardship only if the Participant has an immediate and heavy financial need and the withdrawal is necessary to meet such need. A withdrawal will be deemed to be on account of an immediate and heavy financial need if it is occasioned by:
Financial Hardship. After payments under this Agreement begin, the Company may, in its sole discretion, pay the balance of the account to the Executive or any beneficiary herein, provided that the Executive or beneficiary has a demonstrable need due to financial hardship. The decision of whether financial hardship exists, or whether any payments herein shall be made, shall at all times rest solely with the Company, in its sole discretion.
Financial Hardship. The 1995 Plan Committee or senior management of the Company may, in its or their sole discretion, permit other sales of vested Shares during the Blackout Period in the event of a severe financial hardship of the Grantee.
Financial Hardship. (a) A Financial Hardship distribution may only be made on account of an immediate and heavy financial need of the Participant, and where the distribution is necessary to satisfy the immediate and heavy financial need. A Financial Hardship distribution will only be considered as necessary to satisfy an immediate and heavy financial need of the Participant if the distribution is not in excess of the amount of the immediate and heavy financial need (including amounts necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the distribution);
Financial Hardship. Must include verification appropriate to the circumstance and must demonstrate an unexpected loss of finances outside of the control of the licensee. Licensee must submit copy of current academic year financial aid award summary for evaluation in addition to appropriate documentation of the unexpected financial loss.
Financial Hardship. You must provide documented evidence that there has been a significant, unexpected change in your financial situation over which you have no control, or that of any other(s) supporting you, from the time you entered into the agreement to present, and that this change renders you incapable of fulfilling the financial obligations associated with the campus dining commitment.
Financial Hardship. Financial Hardship" means a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant's spouse, or a dependent (as defined in Section 152(a) of the Code) of the Participant, loss of the Participant's property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the participant, provided, that such financial hardship may not be relieved through reimbursement or compensation from insurance or otherwise, by liquidation of the Participant's assets, to the extent the liquidation of such assets would not cause severe financial hardship, or by cessation of deferrals under the Plan. The determination of whether a Financial Hardship exists shall be subject to and determined in accordance with relevant tax guidance issued under Section 409A of the Code.
