Legacy Account definition

Legacy Account means, on or after the date that any Class or Series of Notes issued pursuant to the Base Indenture is no longer Outstanding, any account maintained by the Trustee to which funds have been allocated in accordance with the Priority of Payments for the payment of interest, fees or other amounts in respect of such Class or Series of Notes.

Legacy Account means the GE Aircraft Engines VSA, GE Caledonia VSA, and GE VSA (collectively, the “VSA Accounts”) held by Employees or Former Employees as of the Transfer Date. Legacy Account also includes the Legacy Former Employees who have VSA Accounts as of the Transfer Date, as determined by Parent based on the records for the VSA Accounts.

Legacy Account means a Participant’s entire bookkeeping account under the Plan as of the date immediately prior to the Restatement Date, as adjusted for hypothetical earnings and losses based on the terms of the Plan immediately prior to the Restatement Date, and further adjusted for any Legacy Account Earnings thereon.

Examples of Legacy Account in a sentence

• When the balance of any Legacy Account has been reduced to zero, the Trustee may close such account.

• If the Master Issuer does not elect to have such funds so transferred, or if the Master Issuer elects to have only a portion of such funds so transferred, any funds remaining in the applicable Legacy Account after the applicable Notes Discharge Date shall be deposited into the Collection Account for application in accordance with the Priority of Payments.

• Each Participant shall be provided the opportunity to select the form of distribution [as set forth in paragraph (A)] and benefit commencement date [as set forth in paragraph (B)] with regard to the amounts that are credited to the Participant's Legacy Account Balance when the Participant first elects to participate in the Plan.

• Deferred Incentive Compensation that had been earned and vested prior to January 1, 2005 has been credited to the Participant’s Legacy Account Balance.

• If the Participant has not submitted an effective distribution election with regard to amounts that are credited to the Participant's Legacy Account Balance at the time of his Retirement, the distribution of the amounts that are credited to the Participant's Legacy Account Balance shall be in the form of a single lump sum payment made within 60 days after the Participant's Retirement.

• No additional amounts of Incentive Compensation that is deferred under the terms of this Plan shall be credited to a Legacy Account Balance.

• Notwithstanding the preceding sentence, distribution to a Participant who was an Executive Officer at the time of his Retirement, but who has not submitted an effective distribution election with regard to amounts that are credited to the Participant's Legacy Account Balance at the time of his Retirement, shall be in the form of a single lump sum payment within 60 days after the December 31 of the calendar year of the Participant’s Retirement.

• Amounts credited to the Participant’s Account (without regard to whether such Account is allocated to such Participant’s Legacy Account Balance or Active Account Balance) shall be further credited with earnings as if invested in the Funds selected by the Participant.

• If an annual distribution is selected, the amount to be distributed in any one-year shall be determined by dividing the Participant’s Legacy Account Balance or Active Account Balance (as appropriate) by the number of years remaining in the elected distribution period.

• A Participant shall be entitled to receive, upon a written request to the Committee that is effective between April 1 and December 31 of any Plan Year, a lump sum distribution from his or her Legacy Account Balance of an amount equal to or greater than 25% of the Participant’s Legacy Account Balance as of the date of the request.

More Definitions of Legacy Account

Legacy Account means an account which was maintained under a Legacy Plan on behalf of a person who was a participant in such plan at any time prior to the Restatement Effective Date, and which was merged into the Plan at the Merger Effective Time.

Legacy Account means an Account in effect as of [***] (including all types of accounts including, but not limited to, accounts for the Enterprise Service, Rollups, Traffic Rollups and Global Rollups). The Legacy Accounts include, but are not limited to, the Accounts listed on Attachment A to this Exhibit 1.

Legacy Account means as defined at clause 18 (7)(c).

Legacy Account means any Account opened before October 13, 2010.

Legacy Account means one or more Accounts to which Deferrals and other contributions made before January 1, 2017, have been credited, and which are governed by the terms of the Legacy Appendix to this Plan.

Legacy Account means, in the aggregate, each of the Participant’s accounts formerly known as the ESOP Supplemental Account, the Matching Contribution Supplemental Account and the Profit Sharing Supplemental Account that were credited with book-entry amounts reflecting contributions made to this Plan prior to the Restatement Date, as adjusted for any Legacy Account Earnings thereon.