RBD Clause Samples
The RBD (Ready for Business Date) clause defines the specific date on which a project, facility, or service is considered operational and ready to commence business activities. This clause typically outlines the criteria that must be met for the project to be deemed ready, such as completion of construction, passing inspections, or obtaining necessary certifications. By clearly establishing when obligations related to operation, payment, or performance begin, the RBD clause helps prevent disputes over project readiness and ensures all parties have a shared understanding of when business operations officially start.
RBD. If your death occurred before your RBD, the beneficiary
RBD. The Plan Administrator will direct the Trustee to distribute or to commence distribution to the Participant of the Participant's entire Vested Account Balance no later than the Participant's RBD.
RBD. A Participant's RBD is his/her required beginning date determined as follows:
RBD more than 5% owner. A Participant's RBD is the April 1 following the close of the calendar year in which the Participant attains age 70 1/2 if the Participant is a more than 5% owner (as defined in Code (S)416) with respect to the Plan Year ending in that calendar year. If a Participant is a more than 5% owner at the close of the relevant calendar year, the Participant may not discontinue required minimum distributions notwithstanding the Participant's subsequent change in ownership status.
RBD. A Participant's RBD is his/her required beginning date determined as follows:
(a) More than 5% owner. A Participant's RBD is the April 1 of the calendar year following the close of the calendar year in which the Participant attains age 70 1/2 if the Participant is a more than 5% owner (as defined in Code §416(i)(B)) as to the Plan Year ending in that calendar year. If a Participant is a more than 5% owner at the close of the relevant Plan year, the Participant may not discontinue RMDs notwithstanding the Participant's subsequent change in ownership status.