Special Retention Account definition

Special Retention Account means the subaccount established under the Plan pursuant to the terms of this Program.
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Special Retention Account means a designated interest-bearing deposit account with National Westminster Bank plc in the joint name of the Vendor’s Solicitors and the Purchaser’s Solicitors.
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Examples of Special Retention Account in a sentence

  • Nothing in this Section 5.03(a) shall affect the right of a Participant to receive any amount from his Special Retention Account if he is involuntarily terminated without Cause or terminates employment due to his death or disability (as defined in the applicable long-term disability plan).

  • A copy of the applicable provisions of the Verizon Income Deferral Plan relating to the Special Retention Account is attached hereto as Exhibit A, which is incorporated herein by reference.

  • A Participant shall not be entitled to receive any amount from his Special Retention Account if he (1) voluntarily terminates from the Company (including a retirement) effective before July 1, 2001, (2) voluntarily terminates from the Company (including a retirement) without providing 30 days' written notice of his intent to terminate, or (3) is terminated for Cause (as defined in Section 5.03(b), below).

  • Each Participant shall defer receipt of 100% of his Special Retention Amount, and the initial balance in the Participant's Special Retention Account shall be equal to the amount so deferred.

  • The provisions of Section 5.05 of the Plan (regarding of Forfeiture of Rights and Competitive Conduct) shall not apply to the Special Retention Account or the Other Benefits provided in Article 6, below.

  • Participant" shall mean each Covered Employee who makes an election pursuant to Section 3.03 and whose Special Retention Account has a positive balance.

  • The provisions of Section 5.04 of the Plan shall not apply to the Special Retention Account to the extent they permit withdrawals or distributions before a Participant terminates employment with the Company, except that a Participant may apply to the Committee for such a withdrawal or distribution after July 1, 2001.

  • Covered Employees who are Participants shall be eligible to have a Special Retention Account established under the Plan and to receive certain Other Benefits as provided in Article 6, below.

  • The Special Retention Account established under this Program is intended to provide such an incentive: it allows these employees (if they remain with the Company for at least one year) to defer certain payments that are not otherwise eligible for deferral under other Company-sponsored deferred compensation arrangements and to receive other benefits.

  • Individuals who were Participants on January 1, 2002, shall remain Participants after that date for as long as they have a positive balance in their Special Retention Account.

Related to Special Retention Account

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • 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)).

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Administration Account As defined in Section 7.02.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • In-Service Account means a separate account to be kept for each Participant that has elected to take in-service distributions as described in Section 5.4. The In-Service Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in accordance with the rules and elections in effect under Section 8.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • 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.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Holding Account means an account:

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • 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.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Participating Account a separate account investing all or a portion of its assets in the Trust, including the Account.

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

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

  • 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.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • 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.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Force Account means the use of the Recipient's own employees, equipment, or resources for the Project.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.