Loans to Participants. If the Adoption Agreement so indicates, a Participant may receive a loan from the Fund, subject to the following rules:
Loans to Participants. If permitted under the Adoption Agreement, the Committee, in its discretion, may authorize and direct the Trustee to grant loans to Participants and Beneficiaries in accordance with written rules established by the Committee. Such loans:
Loans to Participants. 79 12.2 Provisions to be Applied in a Uniform and Nondiscriminatory Manner . . . . . . . . . . . . . . . . . . . . . . . . . 81 12.3
Loans to Participants. Subject to Section 7.1 of the Basic Plan and a written procedure established by the Employer, loans can be made to Participants from the Plan < ¨ beginning (must be after the later of the Plan’s original effective date or the restatement date) >.
Loans to Participants. (a) The Trustee may, in the Trustee's discretion, make loans to Participants and Beneficiaries under the following circumstances: (1) loans shall be made available to all Participants and Beneficiaries on a reasonably equivalent basis; (2) loans shall not be made available to Highly Compensated Employees in an amount greater than the amount made available to other Participants and Beneficiaries; (3) loans shall bear a reasonable rate of interest; (4) loans shall be adequately secured; and (5) shall provide for repayment over a reasonable period of time.
Loans to Participants. Loans to Participants shall not be permitted.
Loans to Participants. (a) If specified in the Adoption Agreement, the Trustee (or the Administrator if the Trustee is a nondiscretionary Trustee or if loans are treated as Participant directed investments pursuant to the Adoption Agreement) may, in the Trustee's (or, if applicable, the Administrator's) sole discretion, make loans to Participants or Beneficiaries under the following circumstances: (1) loans shall be made available to all Participants and Beneficiaries on a reasonably equivalent basis; (2) loans shall not be made available to Highly Compensated Employees in an amount greater than the amount made available to other Participants; (3) loans shall bear a reasonable rate of interest; (4) loans shall be adequately secured; and (5) loans shall provide for periodic repayment over a reasonable period of time. Furthermore, no Participant loan shall exceed the Participant's Vested interest in the Plan.
Loans to Participants. The Administration Committee, upon request by a Participant who is an employee of an Employer or Related Company or who is a “party in interest” with respect to the Plan (as such term is defined in Section 3(14) of ERISA) in such form as the Administration Committee may require, may authorize a loan to be made to the Participant from the Participant’s vested interest in the Trust Fund, excluding any amount in the Participant’s QVEC Account, subject to the following:
Loans to Participants. Upon written application of a Participant submitted to the Company at least thirty (30) days (or such shorter period as the Committee allows) prior to a Valuation Date, the Committee may direct the Trustees to lend to such Participant such amount or amounts from his accounts under the Plan up to fifty percent (50%) of the total aggregate value of the vested portion of such Participant's accounts (determined as of such Valuation Date). Notwithstanding the foregoing, the aggregate amount of all outstanding loans, including accrued interest, from the Plan to a Participant shall not exceed $50,000, reduced by the amount of any loan repayment made during the one (1) year period ending on the day before the date on which such loan is to be made. The minimum amount which may be loaned to a Participant under this Section 7.10 shall be $1,000. A Participant may not have more than two loans outstanding under this Section 7.10 at any given time. Loans shall be made available to all Participants on a reasonably equivalent basis, except that the Committee may make reasonable distinctions based upon credit-worthiness, other obligations of the Participant and other factors that may adversely affect the ability to assure repayment. The decision as to whether a loan shall or shall not be made in any case shall rest solely within the discretion of the Committee, such discretion to be exercised consistently with the provisions of Section 9.05 and with such procedures as the Committee may establish pursuant to this Section 7.10. Loans approved under this Section 7.10 shall be made as soon as reasonably practicable after the Valuation Date next following timely receipt by the Committee of the Participant's written application. Each such loan shall be made at such reasonable rate of interest as the Committee may determine, and shall be subject to such other terms and conditions as the Committee may deem proper, and shall be evidenced by the promissory note of the Participant and secured by at least fifty percent (50%) of the Participant's interest in the Plan. Each such loan shall be repaid by such means as may be authorized by the Committee, shall be amortized over the term of the loan in level payments made not less frequently than quarterly, and shall be repaid within five (5) years unless such loan is used to acquire a dwelling unit which within a reasonable period of time is to be used 113 (determined at the time the loan is made) as the principal residence of the Particip...
Loans to Participants. If elected in the Adoption Agreement, loans may be made from the Trust Fund to Participants and Beneficiaries. If loans are available, then a Participant or Beneficiary may make application to the Administrator requesting a loan. The Administrator will have the sole right to approve or disapprove the application. All loans must be evidenced by a legally enforceable agreement (which may include more than one document) set forth in writing or in such other form as may be approved by the Internal Revenue Service, and the terms of such agreement must specify the amount and term of the loan, and the repayment schedule. Loans will only be made in accordance with a separate written loan program which satisfies the requirements of Code §72(p) and the Regulations promulgated thereunder, and the following provisions:
