Common use of Loan Security Clause in Contracts

Loan Security. Notwithstanding anything to the contrary in this Section 3.11, a Participant may not make a withdrawal, pursuant to this Section of any portion of the Participant's vested interest which has been assigned to secure repayment of a loan in accordance with Section 11.10, below, until such time as the Committee shall have released said portion so assigned.

Appears in 2 contracts

Sources: 401(k) Profit Sharing Plan Adoption Agreement (Priority Healthcare Corp), Adoption Agreement (Abbott Laboratories)

Loan Security. Notwithstanding anything to the contrary in this Section 3.113.10, a Participant may not make a withdrawal, withdrawal pursuant to this Section of any portion of the Participant's Participants vested interest which has been assigned to secure repayment of a loan in accordance with Section 11.10, below, until such time as the Committee shall have released said portion so assigned.

Appears in 2 contracts

Sources: 401(k) Profit Sharing Plan Adoption Agreement (Priority Healthcare Corp), Adoption Agreement (Abbott Laboratories)