APPLICATION OF CONTRIBUTIONS. 3.1 The Councils each covenant with SZC Co in respect of monies that each of them receive pursuant to this Deed not to spend the relevant monies other than for the purposes specified in this Deed in relation to the relevant Contribution or sum of money.
APPLICATION OF CONTRIBUTIONS. The Company shall deduct for its sales and administrative service (provided pursuant to the agreement therefor between the Company and Pooled Equity Fund B) (i) 6% of each Contribution made for such Participant until Contributions under this Contract plus any contributions made for such Participant under any other Fund B contract with the Company total $5,000, and (ii) 4% of any Contributions made thereafter for such Participant. The Company will invest the balance of such Contributions in Pooled Equity Fund B.
APPLICATION OF CONTRIBUTIONS. 6 3.03 Participant's Individual Accounts, Inactive Participants .................... 6 3.04
APPLICATION OF CONTRIBUTIONS. As soon as reasonably practical after each payroll period, the Employer shall apply the Employer Contribution and Salary Redirection to provide the Benefits elected by the affected Participants. Any contributions made or withheld from an Employee’s Compensation, pursuant to the Employee’s signed Salary Redirection Agreement for the Healthcare Flexible Spending Account, Dependent Care Assistance Account, Adoption Assistance Account, Tax-free Transportation Program, or Health Savings Account shall be credited to such account. Amounts designated for the Participant’s Premium Expense Reimbursement Account shall likewise be credited to such account for the purpose of paying Premium Expenses.
APPLICATION OF CONTRIBUTIONS. The Council may either spend a contribution or sum it has received under this Deed itself for the purposes for which it was paid as set out in the definitions of each contribution or pass it to a third party to spend on its behalf provided that such contribution or sum may only be applied by the third party for the purpose for which it was paid to the Council and the Council shall procure that the third party complies with the relevant terms of this Deed in relation to such sum or contribution.
APPLICATION OF CONTRIBUTIONS. The net contribution shall be equal to the total contribution less 5% thereof. Additionally, premium taxes may be deducted either from premium payments as received or from the value of the account at retirement or surrender. The net contribution shall be applied as of the end of the valuation period in which the payment is received by VALIC, to provide accumulation units on the basis of the then current value of such units, such application being made separately for net contributions allocated to the General Account and the Separate Account. The number of accumulation units provided in each Account and credited to a Participant's Individual Account by any such application shall be determined by dividing the net contribution for that Account applicable to that Participant by the dollar value of one accumulation unit in that Account. The number of accumulation units so determined will not be affected by any subsequent changes in the dollar value of the accumulation units. The dollar value of an accumulation unit in the General Account will increase uniformly each valuation period; the value of an accumulation unit in the Separate Account may vary from one valuation period to the next.
APPLICATION OF CONTRIBUTIONS. As soon as reasonably practical after each payroll period, the Employer shall apply the Salary Redirection to provide the Benefits elected by the affected Participants. Any contributions made or withheld from an Employee’s compensation, pursuant to the Employee’s signed Salary Redirection Agreement for the Health Savings Account shall be credited to such account. Amounts designated for the Participant’s Premium Expense Reimbursement Account shall likewise be credited to such account for the purpose of paying Premium Expenses.
APPLICATION OF CONTRIBUTIONS. Subject as hereinafter provided and following upon the determination in accordance with Rule 14 of the aggregate Contributions to be paid by the Participating Companies in relation to any Base Period, the Trustees shall acquire on the Deposit Date of that Base Period, or as soon as reasonably practicable thereafter, the number of Shares ascertained in accordance with Rule 14.2 required for appropriation in accordance with Rule 17 amongst the Eligible Employees of such Participating Companies.
APPLICATION OF CONTRIBUTIONS. The net contribution shall be equal to the total contribution less: 5% thereof for the first $5,000 of total contributions to the Participant's Individual Account: 4% thereof for the next $5,000 of total contributions to the Participant's individual Account: 3.5% for the next $5,000 of total contributions to the Participant's Individual Account: and 3% thereof for any contributions in excess of $15,000 of total contributions to the Participant's Individual Account. Additionally, premium taxes may be deducted either from premium payments as received or from the value of the account at retirement or surrender. The net contribution shall be applied as of the end of the valuation period in which the payment is received by VALIC, to provide accumulation units on the basis of the then current value of such units, such application being made separately for net contributions allocated to the General Account and the Separate Account. Net single lump sum contributions received by VALIC that represent amounts accumulated in retirement programs shall be equal to the total single lump sum contribution less 2% thereof. Any additional contributions received after the single lump sum contribution shall be equal to the total contribution less 5% thereof for the first $5,000 of total contributions to the Participant's Individual Account, including the single lump sum contribution; 4% thereof for the next $5,000 of total contributions to the Participant's Individual Account, including the single lump sum contribution; 3.5% for the next $5,000 of total contributions to the Participant's Individual Account, including the single lump sum contributions: and 3% for any contributions in excess of $15,000 of total contributions to the Participant's Individual Account, including the single lump sum contribution. The number of accumulation units provided in each Account and credited to a Participant's Individual Account by any such application shall be determined by dividing the net contribution for that Account applicable to that Participant by the dollar value of the accumulation unit in that Account. The number of accumulation units so determined will not be affected by any subsequent changes in the dollar value of the accumulation units. The dollar value of an accumulation unit in the General Account will increase uniformly each valuation period; the value of an accumulation unit in the Separate Account may vary from one valuation period to the next. The effective date of this En...
APPLICATION OF CONTRIBUTIONS. We shall first deduct from any contribution for a Participant the premium for any optional benefits provided by a supplemental agreement. Deductions for any applicable premium taxes on the remaining contribution shall then be made by us from each contribution received. The balance of each contribution remaining after these deductions is the net contribution. We shall apply such net contribution to provide for General Account or Separate Account accumulation units or both as elected by you. The number of General Account or Separate Account accumulation units credited to the 5 Participant's Individual Account shall be determined by dividing the applicable portion of the net contribution by the appropriate accumulation unit value next determined after such contribution is received by us at the Home Office. The number of accumulation units so provided shall not be changed by any subsequent change in the accumulation unit value.
