Cash-Out Limit definition

Cash-Out Limit means $1,000 for Cash-Outs made after March 27, 2005.
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Cash-Out Limit means $5,000 calculated as of the time of distribution, or any other time.
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Cash-Out Limit means (1) the Consent Limit, in the case of distributions commencing before March 28, 2005, and (2) $1,000, in the case of Mandatory Distributions commencing on - 2 - or after March 28, 2005, and the Consent Limit, in the case of distributions commencing on or after March 28, 2005 that are not Mandatory Distributions. A “Mandatory Distribution” is a distribution that is made without the Participant’s consent and that is made to a Participant before the Participant attains the later of age 62 or Normal Retirement Age.
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Examples of Cash-Out Limit in a sentence

  • After the settlement of the claim, the company assesses whether it is reasonable to claim the expenses from the party that caused the insured event by reference to the probable outcome and cost- benefit ratio of the proceedings.

  • If the Participant’s nonforfeitable Account does not exceed the Cash-Out Limit, the Administrator will direct the Trustee to make a single lump sum payment to the Participant’s Beneficiary.

  • Notwithstanding any other provision of this Article, a Participant who has a Severance from Employment will receive a distribution of his or her entire nonforfeitable interest in the Plan in a single lump sum payment of cash or property, provided that the amount of the distribution does not exceed the Cash-Out Limit.

  • Notwithstanding the foregoing, payment shall not commence to be made to a Participant whose non-forfeitable Accrued Benefit exceeds the Cash-Out Limit (as defined in subparagraph 8.9(e)) or if elected by the Employer in Option 10.3(a) of the Adoption Agreement, the lower maximum mandatory cash-out dollar amount, before he attains the later of (I) his Normal Retirement Age or (II) the age of sixty-two (62) without his first having filed a written consent to payment with the Administrator.

  • This newsletter clarified three points, as follows: (i) Plan Amendments Reducing or Eliminating the Cash-Out Limit Need Not be Adopted By March 28, 2005.

  • If the entire non-forfeitable Accrued Benefit of the Participant does not exceed the Cash-Out Limit, such Accrued Benefit shall be paid to the Beneficiary as soon as practical after the date of the Participant’s death.

  • Unless a lower maximum mandatory cash-out dollar amount is elected by the Employer in Option 10.3(a) of the Adoption Agreement, if the entire non-forfeitable Accrued Benefit of a Participant does not exceed the Cash-Out Limit (as defined in subparagraph 8.9(e)), such Accrued Benefit shall be paid to the Participant as soon as possible after his termination of employment with the Employer.

  • Notwithstanding any other provision of this Article, a Participant who has incurred a Severance from Employment will receive a distribution of his or her entire nonforfeitable interest in the Plan in a single lump sum payment of cash or property if the value of the nonforfeitable interest, determined as of the Valuation Date coincident with or immediately preceding the Participant’s Severance from Employment, does not exceed the Cash-Out Limit.

  • The value of a Participant’s vested Account for purposes of applying the Cash-Out Limit shall be determined without regard to that portion of the account balance that is attributable to Rollover Contributions (and earnings allocable thereto).

  • If the value of a Participant’s Account exceeds the Cash-Out Limit, the Participant’s benefit shall not be distributed prior to the Participant’s 62nd birthday without his or her consent.


More Definitions of Cash-Out Limit

Cash-Out Limit means—
Sample 1

Related to Cash-Out Limit

  • Cash Out means a monetary settlement of any quantities of energy owed to or from the Transporter, after which settlement Shipper, or such other party having title to the Gas, shall no longer have title to such energy.

  • Cash on Hand means, as of any date, all xxxxx cash, vault cash, teller cash, ATM cash, prepaid postage and cash equivalents held at a Branch.

  • Closing Cash Payment has the meaning set forth in Section 2.06(a).

  • Performing Cash Pay Mezzanine Investments means Mezzanine Investments (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Closing Cash Amount has the meaning set forth in Section 2.2.

  • Working Capital Escrow Amount means $2,000,000.

  • Closing Cash means the amount of Cash determined as of the close of business on the Closing Date.

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Unrestricted Cash and Cash Equivalents means, as of any date of determination, the sum of the aggregate amount of Cash and Cash Equivalents (valued at fair market value) which is Unrestricted. As used in this definition, “Unrestricted” means the specified asset is not subject to any escrow, cash trap, reserves, Liens (other Liens permitted under Section 10.5) or claims of any kind in favor of any Person.

  • Disposition Proceeds means, with respect to each Group I/II Non-Program Vehicle, the net proceeds from the sale or disposition of such Group I/II Eligible Vehicle to any Person (other than any portion of such proceeds payable by the Group I/II Lessee thereof pursuant to any Group I/II Lease).

  • Daily Cash Amount means, with respect to any VWAP Trading Day, the lesser of (A) the applicable Daily Maximum Cash Amount; and (B) the Daily Conversion Value for such VWAP Trading Day.

  • Cash and Cash Equivalents means the cash and cash equivalents, including checks, money orders, marketable securities, short-term instruments, negotiable instruments, funds in time and demand deposits or similar accounts on hand, in lock boxes, in financial institutions or elsewhere, together with all accrued but unpaid interest thereon, and all bank, brokerage or other similar accounts.

  • Performing Cash Pay High Yield Securities means High Yield Securities (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semiannual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Closing Date Indebtedness means the aggregate amount of all Indebtedness of the Company Group as of the time of Closing (other than any Indebtedness included in Holder Expenses).

  • Adjusted gross proceeds means gross proceeds less cash prizes, cost of

  • Net Cash Payments means, with respect to any Disposition, the aggregate amount of all cash payments received by the Company and its Restricted Subsidiaries directly or indirectly in connection with such Disposition, whether at the time of such Disposition or after such Disposition under deferred payment arrangements or Investments entered into or received in connection with such Disposition (including, without limitation, Disposition Investments); provided that:

  • Performing Non-Cash Pay Mezzanine Investments means Performing Mezzanine Investments other than Performing Cash Pay Mezzanine Investments.

  • Cash-Out Refinancing A Refinanced Mortgage Loan the proceeds of which were in excess of the principal balance of any existing first mortgage on the related Mortgaged Property and related closing costs, and were used to pay any such existing first mortgage, related closing costs and subordinate mortgages on the related Mortgaged Property.

  • Net Equity Proceeds means the cash proceeds received from (i) any capital contribution from any member of the Borrower or (ii) the issuance of Capital Stock of the Borrower (other than to a Subsidiary or an employee stock ownership plan), net of the actual liabilities for reasonably anticipated cash taxes in connection with such incurrence, if any, any underwriting, brokerage and other customary selling commissions incurred in connection with such incurrence, and reasonable legal, advisory and other fees and expenses, incurred in connection with such incurrence.

  • Working Capital Target means $0.

  • Equity Proceeds means the cash proceeds (net of underwriting discounts and commissions and other reasonable costs associated therewith) from the issuance of any equity Securities of Company after the Effective Date.

  • Unrestricted Cash Amount means, as to any Person on any date of determination, the amount of (a) unrestricted Cash and Cash Equivalents of such Person whether or not held in an account pledged to the Collateral Agent and (b) Cash and Cash Equivalents of such Person restricted in favor of the Facilities (which may also include Cash and Cash Equivalents securing other Indebtedness secured by a Lien on any Collateral along with the Facilities), in each case as determined in accordance with GAAP; it being understood and agreed that proceeds subject to Escrow shall be deemed to constitute “restricted cash” for purposes of the Unrestricted Cash Amount.

  • REO Disposition Proceeds All amounts received with respect to an REO Disposition pursuant to Section 4.16.

  • Closing Date Working Capital has the meaning specified in Section 2.3(b).

  • Working Capital Adjustment Amount means the amount (which may be positive or negative) equal to the result of the Closing Net Working Capital minus the Target Working Capital Amount.

  • Closing Cash Consideration has the meaning set forth in Section 2.6(a)(i).