Leveraged ESOP Suspense Account definition

Leveraged ESOP Suspense Account means the suspense account described in Section 7.2.
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Leveraged ESOP Suspense Account means the separate accounts maintained by the Committee pursuant to Section 6.2. All Employer Leveraged ESOP Contributions made with respect to a Loan and the dividends with respect to Employer Stock purchased with such Loan (and the Employer Stock into which such stock has been converted) including dividends which have been replaced in Participant's Leveraged ESOP Accounts by Dividend Replacement Contributions shall be held and accounted for within the separate Leveraged ESOP Suspense Account.
Sample 1

Examples of Leveraged ESOP Suspense Account in a sentence

  • Such amount may be paid from Leveraged ESOP Contributions, from earnings attributable to such Leveraged ESOP Contributions, from dividends on Chevron Stock in the Leveraged ESOP Suspense Account and in Members’ Leveraged ESOP Accounts and, to the extent permitted by section 4975 of the Code or applicable law, dividends on other shares of Chevron Stock held by the Plan, or from a combination of such funds, as determined by the Corporation.

  • Sixth, the aggregate number of shares of Chevron Stock determined in (5) above for all leveraged transactions (rounded to the nearest integer) shall be released from the Leveraged ESOP Suspense Account.

  • We are constantly working to improve our management of market-related risks, such as those generated by changes in interest rates and prices, and liquidity risk, while at the same time endeavoring to improve our earnings structure.

  • The Trustee shall be required to vote all shares of Chevron Stock held in the Leveraged ESOP Suspense Account in the same proportion as those shares for which the Trustee received instructions from Members with respect to the voting of allocated shares as provided under Section 18.4.

  • The Trustee shall either (a) sell shares of Chevron Stock then held in the Leveraged ESOP Suspense Account and apply the proceeds (together with any other assets of the Leveraged ESOP Suspense Account) to satisfy its obligation to indemnify the guarantor of the Trustee’s indebtedness or (b) transfer shares of Chevron Stock and other assets of the Leveraged ESOP Suspense Account to the guarantor in the amount necessary to satisfy the Trustee’s obligation to indemnify the guarantor.

  • First, with respect to each leveraged transaction, the number of shares of Chevron Stock held in the Leveraged ESOP Suspense Account immediately prior to the release shall be determined.

  • Subject to the discretion of the Trustee to reinvest proceeds from the sale of Company Stock pursuant to Section 6.4(b), earnings of the Leveraged ESOP Suspense Account with respect to a loan shall be used to repay the loan, and to the extent not so used shall be released and allocated under Section 6.3 hereof.

  • The Corporation, at its sole discretion, also shall determine to what extent dividends on Chevron Stock in the Leveraged ESOP Suspense Account or, to the extent permitted under section 4975 of the Code or other applicable law, dividends on other shares of Chevron Stock held by the Plan shall be used in lieu of Leveraged ESOP Contributions to make payments (or prepayments) under suchagreement.

  • Such allocations shall be made from amounts released from the Leveraged ESOP Suspense Account under Section 6.3 in the Plan Year in which the allocation is made before the allocations in Section 7.3(a) are made and if there are no such releases from Forfeitures under the Leveraged ESOP or special contributions made for the purpose by the Employer.

  • Assets shall be released from the Leveraged ESOP Suspense Account only in accordance with the provisions of Section 6.3 or to repay a loan or for reinvestment in Company Stock pursuant to Section 6.4(b), provided, however, proceeds of an Exempt Loan may not be used to repay any loan which is not an Exempt Loan.

Related to Leveraged ESOP Suspense Account

  • Suspense Account means the account established by the Trustee for maintaining contributions and forfeitures which have not yet been allocated to Participants.

  • Expense Account has the meaning given to such term in Section 3.01(a) hereof.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Catch-Up Contributions means Salary Reduction Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are Age 50 or over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • cash memorandum account means an account so designated by the Operator of the relevant system.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Investment Account As defined in Section 3.12(a).

  • Qualified escrow fund means an escrow arrangement with a federally or state-chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least one billion dollars where such arrangement requires that such financial institution hold the escrowed funds’ principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds’ principal except as consistent with section 453C.2, subsection 2, paragraph “b”.

  • Share Account means the brokerage account established by the Agent for each Participant to which shares of Common Stock purchased under the Plan are credited in accordance with Section 9. The Share Account will be established pursuant to a separate agreement between each Participant and the Agent.

  • Separate Accounts means the accounts which are to be prepared for each

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Securities Administrator pursuant to Sections 3.07(b) and 3.07(c) in the name of the Securities Administrator for the benefit of the Regular Certificateholders and designated "Wells Fargo Bank, National Association in trust for registered Holders xx Xxrgan Stanley Capital I Inc. Trust 2006-HE2, Mortgage Pass-Through Cerxxxxxxtxx, Xxxies 2006-HE2." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Class PO Deferred Amount As to any Distribution Date, the aggregate of the applicable PO Percentage of each Realized Loss, other than any Excess Loss, to be allocated to the Class PO Certificates on such Distribution Date on or prior to the Senior Credit Support Depletion Date or previously allocated to the Class PO Certificates and not yet paid to the Holders of the Class PO Certificates.