Loan Application Procedure. A Participant desiring to obtain a loan hereunder shall be required to complete a loan application in a form prescribed by the Plan Administrator at such time as may be determined by the Plan Administrator, in advance of the requested loan date. Such application shall set forth the reasons for such loan and be accompanied by such supporting documents as the Participant believes will be helpful to the Plan Administrator in determining the propriety of granting the loan. In determining whether or not to grant the loan, the Plan Administrator shall only consider those factors which would be considered in a normal commercial setting by an entity in the business of making similar loans, such as creditworthiness and financial need. As soon as administratively practicable after receipt of the Participant's loan application, the Plan Administrator shall either act upon the loan application and advise the Participant of the action taken or request specific additional information and/or documentation from the Participant reasonably required to assist the Plan Administrator in determining the propriety of the loan. If information is requested by the Plan Administrator, the Participant shall be required to furnish to the Plan Administrator such additionally requested information within 14 days. If the Participant fails to so provide such requested information to the Plan Administrator or to otherwise advise the Plan Administrator when such requested information will be provided, the Plan Administrator may deny the loan request. Upon granting a loan application, the Plan Administrator shall advise the Participant of the basic terms and conditions upon which the loan will be made and of any additional documentation to be completed and/or security to be furnished and the projected time for completing the loan transaction. Each loan shall be evidenced by a promissory note reflecting the terms and conditions applicable to such loan.
Loan Application Procedure. 2.1 The Company shall review the applications for the Loan only upon compliance with the following terms and conditions: The Perspective Customer is the national of the Russian Federation and is not a foreign public officer, an officer of the public international entity, or a person filling in (holding) a public office in the Russian Federation, the office of the member of the Board of Directors of the Central Bank of the Russian Federation, the office of the federal public service, appointment on and dismissal from which is exercised by the President of the Russian Federation or the Government of the Russian Federation, the office in the Central Bank of the Russian Federation, the state corporation and another entity established by the Russian Federation under the federal laws, included into the lists of offices determined by the President of the Russian Federation; The Perspective Customer shall be 18 (eighteen) years old; The Perspective Customer shall have permanent registration in the Russian Federation.
Loan Application Procedure. Any eligible Participant in the Plan, as outlined above, may apply for a loan by completing the Invesco Solo 401(k) and 403(b)(7) Loan Application and Agreement (Application). Prior to submitting the Application to Invesco Investment Services, Inc. (IIS), the Employer/Plan Administrator or 403(b)(7) third party administrator (TPA) must review the Application and determine whether the Participant satisfies the loan eligibility criteria. If the Participant meets the criteria, the Employer/Plan Administrator or 403(b)
Loan Application Procedure. A Participant desiring to apply for a loan from the Plan must submit a request for the loan to the Retirement and Benefit Plans Committee either directly or through a local personnel representative. An information sheet in question and answer form (containing examples of the application of the loan limits and other information, such as the approximate length of time needed to process a loan application) will be given to the applying Participant. To document the details of the loan, the Participant will be provided with a form entitled "Simple interest Promissory Note and Federal Disclosure." In order to make formal application for the loan, the form must be completed, with the assistance of a member of the Committee or local personnel representative, and signed by the Participant. All loans secured by a married Participant's vested Accrued Benefits under the Plan must be consented to in writing by the Participant's spouse prior to disbursement of the loan proceeds, and the spouse's written consent must be acknowledged by a notary public. Applicants for loans will be advised that interest on loans secured by the Participant's elective contribution account(s) under the Plan is not deductible. The Retirement and Benefit Plans Committee, acting on behalf of the Plan Administrator, will review the completed Promissory Note form and will advise the applying Participant whether the loan has been approved or denied and the reasons therefor. Every loan granted will be subject to all the limitations and restrictions imposed by the Plan and this instrument.
