Common use of MEMBERS' ACCOUNTS, UNITS AND VALUATION Clause in Contracts

MEMBERS' ACCOUNTS, UNITS AND VALUATION. The TPA shall establish and maintain an Account for each Member showing his interests in the available Investment Funds or other applicable investments, as designated by the Employer in the Adoption Agreement. The interest in each Investment Fund shall be represented by Units. As of each Valuation Date, the value of a Unit in each Investment Fund shall be determined by dividing (a) the sum of the net assets at market value determined by the Trustee by (b) the total number of outstanding Units. The number of additional Units to be credited to a Member's interest in each available Investment Fund, as of any Valuation Date, shall be determined by dividing (a) that portion of the aggregate contributions and/or deferrals by and on behalf of the Member which was directed to be invested in such Investment Fund and received by the Trustee by (b) the Unit value of such Investment Fund. The value of a Member's Account may be determined as of any Valuation Date by multiplying the number of Units to his credit in each available Investment Fund by that Investment Fund's Unit value on such date and aggregating the results. If, and to the extent, a Member's Account is invested pursuant to a self-directed brokerage account, the investments held in that account shall be valued by the brokerage firm maintaining such account in accordance with such procedures as may be determined by such brokerage firm.

Appears in 4 contracts

Samples: Adoption Agreement (Allied First Bancorp Inc), Adoption Agreement (Suntrust Banks Inc), Adoption Agreement (Bridge Street Financial Inc)

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MEMBERS' ACCOUNTS, UNITS AND VALUATION. The TPA shall establish and maintain an Account for each Member showing his interests in the available Investment Funds or other applicable investments, as designated by the Employer in the Adoption Agreement. The interest in each Investment Fund shall be represented by Units. As of each Valuation Date, the value of a Unit in each Investment Fund shall be determined by dividing (a) the sum of the net assets at market value determined by the Trustee by (b) the total number of outstanding Units. The number of additional Units to be credited to a Member's ’s interest in each available Investment Fund, as of any Valuation Date, shall be determined by dividing (a) that portion of the aggregate contributions and/or deferrals by and on behalf of the Member which was directed to be invested in such Investment Fund and received by the Trustee by (b) the Unit value of such Investment Fund. The value of a Member's ’s Account may be determined as of any Valuation Date by multiplying the number of Units to his credit in each available Investment Fund by that Investment Fund's ’s Unit value on such date and aggregating the results. If, and to the extent, a Member's ’s Account is invested pursuant to a self-directed brokerage account, the investments held in that account shall be valued by the brokerage firm maintaining such account in accordance with such procedures as may be determined by such brokerage firm. A Member is treated as benefiting under the plan for any plan year during which the Member received or is deemed to receive an allocation in accordance with Section 1.410 (b)-3(a) of the Code.

Appears in 3 contracts

Samples: Adoption Agreement (Sugar Creek Financial Corp), Adoption Agreement (Newport Bancorp Inc), Trust Agreement (Northeast Community Bancorp Inc)

MEMBERS' ACCOUNTS, UNITS AND VALUATION. The TPA shall establish and maintain an Account for each Member showing his interests in the available Investment Funds or other applicable investments, as designated by the Employer in the Adoption Agreement. The interest in each Investment Fund shall be represented by Units. As of each Valuation Date, the value of a Unit in each Investment Fund shall be determined by dividing (a) the sum of the net assets at market value determined by the Trustee by (b) the total number of outstanding Units. The number of additional Units to be credited to a Member's =s interest in each available Investment Fund, as of any Valuation Date, shall be determined by dividing (a) that portion of the aggregate contributions and/or deferrals by and on behalf of the Member which was directed to be invested in such Investment Fund and received by the Trustee by (b) the Unit value of such Investment Fund. The value of a Member's =s Account may be determined as of any Valuation Date by multiplying the number of Units to his credit in each available Investment Fund by that Investment Fund's ’s Unit value on such date and aggregating the results. If, and to the extent, a Member's =s Account is invested pursuant to a self-directed brokerage account, the investments held in that account shall be valued by the brokerage firm maintaining such account in accordance with such procedures as may be determined by such brokerage firm. A Member is treated as benefiting under the Plan for any Plan Year during which the Member received or is deemed to receive an allocation in accordance with Code Section 1.410 (b)-3(a).

Appears in 1 contract

Samples: Adoption Agreement (Cape Bancorp, Inc.)

MEMBERS' ACCOUNTS, UNITS AND VALUATION. The TPA shall establish and maintain an Account for each Member showing his interests in the available Investment Funds or other applicable investments, as designated by the Employer in the Adoption Agreement. The interest in each Investment Fund shall be represented by Units. As of each Valuation Date, the value of a Unit in each Investment Fund shall be determined by dividing (a) the sum of the net assets at market value determined by the Trustee by (b) the total number of outstanding Units. The number of additional Units to be credited to a Member's ’s interest in each available Investment Fund, as of any Valuation Date, shall be determined by dividing (a) that portion of the aggregate contributions and/or deferrals by and on behalf of the Member which was directed to be invested in such Investment Fund and received by the Trustee by (b) the Unit value of such Investment Fund. The value of a Member's ’s Account may be determined as of any Valuation Date by multiplying the number of Units to his credit in each available Investment Fund by that Investment Fund's ’s Unit value on such date and aggregating the results. If, and to the extent, a Member's ’s Account is invested pursuant to a self-directed brokerage account, the investments held in that account shall be valued by the brokerage firm maintaining such account in accordance with such procedures as may be determined by such brokerage firm. A Member is treated as benefitting under the plan for any plan year during which the Member received or is deemed to receive an allocation in accordance with Section 1.410 (b)-3(a) of the Code.

Appears in 1 contract

Samples: Adoption Agreement (Ottawa Savings Bancorp, Inc.)

MEMBERS' ACCOUNTS, UNITS AND VALUATION. The TPA shall establish and maintain an Account for each Member showing his interests in the available Investment Funds or other applicable investments, as designated by the Employer in the Adoption Agreement. The interest in each Investment Fund shall be represented by Units. As of each Valuation Date, the value of a Unit in each Investment Fund shall be determined by dividing (a) the sum of the net assets at market value determined by the Trustee by (b) the total number of outstanding Units. The number of additional Units to be credited to a Member's interest in each available Investment Fund, as of any Valuation Date, shall be determined by dividing (a) that portion of the aggregate contributions and/or deferrals by and on behalf of the Member which was directed to be invested in such Investment Fund and received by the Trustee by (b) the Unit value of such Investment Fund. The value of a Member's Account may be determined as of any Valuation Date by multiplying the number of Units to his credit in each available Investment Fund by that Investment Fund's Unit value on such date and aggregating the results. If, and to the extent, a MemberMember 's Account is invested pursuant to a self-directed brokerage account, the investments held in that account shall be valued by the brokerage firm maintaining such account in accordance with such procedures as may be determined by such brokerage firm. A Member is treated as benefitting under the plan for any plan year during which the Member received or is deemed to receive an allocation in accordance with Section 1.410 (b)-3(a) of the Code.

Appears in 1 contract

Samples: Agreement (Central Federal Corp)

MEMBERS' ACCOUNTS, UNITS AND VALUATION. The TPA shall establish and maintain an Account for each Member showing his interests in the available Investment Funds or other applicable investments, as designated by the Employer in the Adoption Agreement. The interest in each Investment Fund shall be represented by Units. As of each Valuation Date, the value of a Unit in each Investment Fund shall be determined by dividing (a) the sum of the net assets at market value determined by the Trustee by (b) the total number of outstanding Units. The number of additional Units to be credited to a Member's ’s interest in each available Investment Fund, as of any Valuation Date, shall be determined by dividing (a) that portion of the aggregate contributions and/or deferrals by and on behalf of the Member which was directed to be invested in such Investment Fund and received by the Trustee by (b) the Unit value of such Investment Fund. The value of a Member's ’s Account may be determined as of any Valuation Date by multiplying the number of Units to his credit in each available Investment Fund by that Investment Fund's ’s Unit value on such date and aggregating the results. If, and to the extent, a Member's ’s Account is invested pursuant to a self-directed brokerage account, the investments held in that account shall be valued by the brokerage firm maintaining such account in accordance with such procedures as may be determined by such brokerage firm. A Member is treated as benefiting under the Plan for any Plan Year during which the Member received or is deemed to receive an allocation in accordance with Code Section 1.410 (b)-3(a).

Appears in 1 contract

Samples: Adoption Agreement (First Savings Financial Group Inc)

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MEMBERS' ACCOUNTS, UNITS AND VALUATION. The TPA shall establish and maintain an Account for each Member showing his interests in the available Investment Funds or other applicable investments, as designated by the Employer in the Adoption Agreement. The interest in each Investment Fund shall be represented by Units. As of each Valuation Date, the value of a Unit in each Investment Fund shall be determined by dividing (a) the sum of the net assets at market value determined by the Trustee by (b) the total number of outstanding Units. The number of additional Units to be credited to a Member's interest in each available Investment Fund, as of any Valuation Date, shall be determined by dividing (a) that portion of the aggregate contributions and/or deferrals by and on behalf of the Member which was directed to be invested in such Investment Fund and received by the Trustee by (b) the Unit value of such Investment Fund. The value of a Member's Account may be determined as of any Valuation Date by multiplying the number of Units to his credit in each available Investment Fund by that Investment Fund's Unit value on such date and aggregating the results. If, and to the extent, a Member's Account is invested pursuant to a self-directed brokerage account, the investments held in that account shall be valued by the brokerage firm maintaining such account in accordance with such procedures as may be determined by such brokerage firm. A Member is treated as benefiting under the plan for any plan year during which the Member received or is deemed to receive an allocation in accordance with Section 1.410 (b)-3(a) of the Code.

Appears in 1 contract

Samples: Exhibit 10 (Atlantic Coast Federal Corp)

MEMBERS' ACCOUNTS, UNITS AND VALUATION. The TPA shall establish and maintain an Account for each Member showing his interests in the available Investment Funds or other applicable investments, as designated by the Employer in the Adoption Agreement. The interest in each Investment Fund shall be represented by Units. As of each Valuation Date, the value of a Unit in each Investment Fund shall be determined by dividing (a) the sum of the net assets at market value determined by the Trustee by (b) the total number of outstanding Units. The number of additional Units to be credited to a Member's =s interest in each available Investment Fund, as of any Valuation Date, shall be determined by dividing (a) that portion of the aggregate contributions and/or deferrals by and on behalf of the Member which was directed to be invested in such Investment Fund and received by the Trustee by (b) the Unit value of such Investment Fund. The value of a Member's =s Account may be determined as of any Valuation Date by multiplying the number of Units to his credit in each available Investment Fund by that Investment Fund's Unit value on such date and aggregating the results. If, and to the extent, a Member's =s Account is invested pursuant to a self-directed brokerage account, the investments held in that account shall be valued by the brokerage firm maintaining such account in accordance with such procedures as may be determined by such brokerage firm. A Member is treated as benefiting under the Plan for any Plan Year during which the Member received or is deemed to receive an allocation in accordance with Code Section 1.410 (b)-3(a).

Appears in 1 contract

Samples: Adoption Agreement (Sugar Creek Financial Corp./Md/)

MEMBERS' ACCOUNTS, UNITS AND VALUATION. The TPA shall establish and maintain an Account for each Member showing his interests in the available Investment Funds or other applicable investments, as designated by the Employer in the Adoption Agreement. The interest in each Investment Fund shall be represented by Units. As of each Valuation Date, the value of a Unit in each Investment Fund shall be determined by dividing (a) the sum of the net assets at market value determined by the Trustee by (b) the total number of outstanding Units. The number of additional Units to be credited to a Member's interest in each available Investment Fund, as of any Valuation Date, shall be determined by dividing (a) that portion of the aggregate contributions and/or deferrals by and on behalf of the Member which was directed to be invested in such Investment Fund and received by the Trustee by (b) the Unit value of such Investment Fund. The value of a Member's Account may be determined as of any Valuation Date by multiplying the number of Units to his credit in each available Investment Fund by that Investment Fund's Unit value on such date and aggregating the results. If, and to the extent, a Member's Account is invested pursuant to a self-directed brokerage account, the investments held in that account shall be valued by the brokerage firm maintaining such account in accordance with such procedures as may be determined by such brokerage firm. A Member is treated as benefitting under the plan for any plan year during which the Member received or is deemed to receive an allocation in accordance with Section 1.410 (b)-3(a) of the Code.

Appears in 1 contract

Samples: Adoption Agreement (CCSB Financial Corp)

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