Common use of Plan Loans Clause in Contracts

Plan Loans. Effective as of the Distribution Date, all outstanding loans of eFunds and iDLX Employees (excluding Terminated Employees) from the Deluxe 401(k) Plan shall be transferred to the eFunds 401(k) Plan pursuant to Section 3.2. As of the Distribution Date, eFunds shall be solely responsible for implementing its own payroll system and making payroll deductions for eFunds Employees with loans outstanding from the eFunds 401(k) Plan. As of the Distribution Date, iDLX shall continue making and be solely responsible for payroll deductions under its existing payroll system for iDLX Employees with loans outstanding from the eFunds 401(k) Plan.