Plan Loans. Plan loans for owner-employees or shareholder-employees. If the plan permits loans to be made to participants, then effective for plan loans made after December 31, 2001, plan provisions prohibiting loans to any owner-employee or shareholder-employee shall cease to apply.
Plan Loans. If Executive has any Plan Loans outstanding to the Company immediately prior to the Termination Date, the Company shall discharge and cancel the amount of principal and interest due with respect to such Plan Loans which exceeds the Fair Market Value of Company Shares securing the Plan Loans on the Termination Date, such discharge to be effective upon Executive's payment of the Plan Loans in full (less the amount discharged) within ninety (90) days following the Termination Date. Executive shall have the option of repaying all amounts due with respect to the Plan Loans by the transfer of the Company Shares securing the Plan Loans, or by the payment, in cash, of the amounts due with respect to the Plan Loans. Except as otherwise set forth herein, Executive shall remain subject to all terms and conditions set forth in the Loan Agreements and Promissory Notes until the Plan Loans are paid in full.
Plan Loans. (7.06). The Employer makes the following election regarding Plan loans (Choose (a) or (b).):
Plan Loans. The Plan Administrator may, in its sole discretion, in accordance with Section 10.03(E) establish, amend or terminate from time to time, a nondiscriminatory policy which the Trustee must observe in making Plan loans, if any, to Participants and to Beneficiaries. If the Plan Administrator adopts a loan policy, the loan policy must be a written document and must include: (1) the identity of the person or positions authorized to administer the participant loan program; (2) the procedure for applying for a loan; (3) the criteria for approving or denying a loan; (4) the limitations, if any, on the types and amounts of loans available; (5) the procedure for determining a reasonable rate of interest; (6) the types of collateral which may secure the loan; and (7) the events constituting default and the steps the Plan will take to preserve Plan assets in the event of default. A loan policy the Plan Administrator adopts under this Section 9.04 is part of the Plan, except that the Plan Administrator may amend or terminate the policy without regard to Section 13.02.
Plan Loans. Any plan loan which is outstanding under the Transferor Plan on the Transfer Date, shall be transferred to the Plan and shall be administered and repaid in accordance with its terms.
Plan Loans. Effective as of the date established pursuant to Section 3.1, all outstanding loans of MVT Employees from the MI Retirement Program shall be transferred to the MVT Retirement Plan pursuant to Section 3.2. As of such date, the MVT Group shall be solely responsible for implementing its own payroll system and making payroll deductions for repayment of such loans.
Plan Loans. TIAA shall provide or make available pension plan participant loan services for plans of eligible institutions.
Plan Loans. At the direction of the Investment Fiduciary, the Trustee shall invest assets of the Trust Fund in loans to Participants. Any such direction shall be deemed to include a certification by the Investment Fiduciary that such loan is in accordance with provisions of the Plan and ERISA and does not constitute a “prohibited transaction” under ERISA. The Trustee shall accept as collateral for each Participant loan only the appropriate amount of the Participant’s Plan account designated by the Plan or established policies. The Trustee shall invest all loan repayments in accordance with the directions of the Investment Fiduciary and shall make distributions of defaulted loans as directed by the Investment Fiduciary.
Plan Loans. A Participant may obtain a loan from the Plan if the Employer elects the authorizing language in the Adoption Agreement and the loan program satisfies the following conditions:
Plan Loans. Effective as of the dates established pursuant to Section 4.1(a) and Section 4.1(b), all outstanding loans of Dental Business Employees from the Sybron Salaried and Hourly Savings and Thrift Plans shall be transferred to the SDS Savings and Thrift and Union Savings and Thrift Plans pursuant to Section 4.2(a) and Section 4.2(b). As of such dates, the SDS Group shall be solely responsible for implementing its own payroll system and making payroll deductions for repayment of such loans.
