Rollover Deposit definition

Rollover Deposit means that upon the expiry of the Deposit Period the Bank—in accordance with the Customer’s instructions given in the Deposit Order—either automatically sets aside the Deposit once again, plus interests, in the Deposit Account for a period identical with the Deposit Period, or automatically sets aside the Deposit once again in the Deposit Account for a period identical with the Deposit Period, and credits the interests to the Customer’s retail bank account.
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Rollover Deposit means several (two to thirty) consecutive Deposits of the same principal and interest rate, with each such Deposit being due on the first Working Day following the Initial Value Date of each Deposit.
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Examples of Rollover Deposit in a sentence

  • In the case of a Rollover Deposit, on the date of maturity of each Term (i.e. on availability dates) the Customer’s funds shall not qualify as a time deposit from the point of view of the statutory provisions concerning enforcement and payments.

  • On the availability dates of a Rollover Deposit, the Customer may modify (increase or decrease) the amount of the Deposit.

  • Mail to my address of record - (if you elected a Direct Rollover to a qualified plan or 403(b) you must complete the receiving custodian below*) *Qualified Plan, 401(k), TSP or 403(b) Direct Rollover Deposit – Check will be made payable to the receiving custodian.

  • In the case of a Rollover Deposit, the start date of the renewed Deposit shall be the same calendar day in the given month as the day on which the Deposit Order was executed, or if there is no calendar day in the given month corresponding to the day on which the Deposit Order was executed, the start date shall be the last day of the month.

  • The Bank shall repeat the Rollover Deposit upon the maturity of the individual Deposit Periods until the date designated by the Customer in the Deposit Order, or in the absence of such designation until the Customer gives contrary instructions to the Bank.

  • This Eligible Employee Rollover Deposit does not include a hardship distribution, corrective distribution, nor any amounts that are deemed to have been distributed from a qualified retirement plan due to a default on a loan.

  • The Eligible Rollover Deposit is a one-time plan transaction separate from your current FRS Investment Plan.

  • We can extrapolate that generally to the Western Australian context because it is not significantly different.

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  • You are eligible to direct the Eligible Employee Rollover Deposit to the FRS Investment Plan and that your are one of the following: the plan participant, the surviving spouse of a deceased plan participant; or the spouse or former spouse of a plan participant under a Qualified Domestic Relations Order.

Related to Rollover Deposit

  • Rollover Date means the date of commencement of a new Interest Period applicable to a Loan and which shall be a Banking Day.

  • 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.

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Rollover means the renewal of all or any part of any LIBOR Rate Loan upon the expiration of the Interest Period with respect thereto, pursuant to Section 2.3.

  • Rollover Loan means one or more Loans:

  • Savings deposit means a form of demand deposit which is subject to restrictions as to the number of withdrawals as also the amounts of withdrawals permitted by the bank during any specified period.

  • Transfer Deposit Amount has the meaning given to it in Section 2.02(b).

  • Rollover Amount has the meaning set forth in Section 7.16(b).

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Rollover Distribution shall be defined as set forth in Section 5.05, herein."

  • Qualifying Deposit means the aggregate balance of all Deposit Accounts in the Bank of (i) an Eligible Account Holder at the close of business on the Eligibility Record Date, provided such aggregate balance is not less than $50, and (ii) a Supplemental Eligible Account Holder at the close of business on the Supplemental Eligibility Record Date, provided such aggregate balance is not less than $50.

  • Eligible Rollover Distribution means any distribution of all or any portion of the balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not include: (a) any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the Distributee, the joint lives (or joint life expectancies) of the Distributee and the Distributee's Beneficiary, or for a specified period of 10 years or more; (b) any distribution to the extent such distribution is required under Section 401(a)(9) of the Code; and (c) the portion of any distribution that is not includable in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities).

  • 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.

  • 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.

  • Direct rollover means a payment by the Plan to the Eligible Retirement Plan specified by the Distributee.

  • Retirement allowance means the retirement payments to which a member is entitled.

  • 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”.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Rollover Notice shall have the meaning ascribed thereto in Section 5.2.

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

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • 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.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Company Contribution Amount means, for any one Plan Year, the amount determined in accordance with Section 3.5.