Common use of Maximum Permissible Amount Clause in Contracts

Maximum Permissible Amount. Except in the case of a qualified rollover contribution (as defined in 4.01(G) of this Agreement, or a recharacterization (as defined in 4.01(F) of this Agreement, no contributions will be accepted unless they are in cash, and the total of such contributions shall not exceed the applicable amount (as defined in 4.01(B) of this Agreement), or the Xxxx XXX Owner’s Compensation (as defined in Section 2.05 of this Agreement), if less, for that taxable year. The contribution described in the previous sentence that may not exceed the lesser of the applicable amount of the Xxxx XXX Owner’s Compensation is referred to as a regular contribution. However, notwithstanding the preceding limits on contributions, a Xxxx XXX Owner may make additional contributions specifically authorized by statute – such as repayments of qualified reservist distributions, repayments of certain plan distributions made on account of a federally declared disaster and certain amounts received in connection with the Exxon Xxxxxx litigation. Contributions may be limited under Sections 4.01(C) through (E) of this Agreement.

Maximum Permissible Amount. Except in the case of a qualified rollover contribution (as defined in 4.01(G) of this Agreement, or a recharacterization (as defined in 4.01(F) of this Agreement, no contributions will be accepted unless they are in cash, and the total of such contributions shall not exceed the applicable amount (as defined in 4.01(B) of this Agreement), or the Xxxx XXX Owner’s Compensation (as defined in Section 2.05 of this Agreement), if less, for that taxable year. The contribution described in the previous sentence that may not exceed the lesser of the applicable amount of the Xxxx XXX Owner’s Compensation is referred to as a regular contribution. However, notwithstanding the preceding limits on contributions, a Xxxx XXX Owner may make additional contributions specifically authorized by statute – such as repayments of qualified reservist distributions, repayments of certain plan distributions made on account of a federally declared disaster and certain amounts received in connection with the Exxon Xxxxxx litigation. Contributions may be limited under Sections 4.01(C) through (E) of this Agreement.Agreement.‌