Common use of Maximum Permissible Amount Clause in Contracts

Maximum Permissible Amount. Except in the case of a qualified rollover contribution or a recharacterization (as defined in (f) below), no contribution will be accepted unless it is in cash and the total of such contributions to all the Owner's Xxxx IRAs for a taxable year does not exceed the applicable amount (as defined in (b) below), or the Owner's compensation (as defined in (h) below), if less, for that taxable year. The contribution described in the previous sentence that may not exceed the lesser of the applicable amount or the Owner's compensation is referred to as a "regular contribution." A "qualified rollover contribution" is a rollover contribution that meets the requirements of §408(d)(3) of the Internal Revenue Code, except the one-rollover-per-year rule of §408(d)(3)(B) does not apply if the rollover contribution is from an IRA other than a Xxxx XXX (a "nonRoth IRA"). Contributions may be limited under (c) through (e) below. (b)

Maximum Permissible Amount. Except in the case of a qualified rollover contribution or a recharacterization (as defined in paragraph (f) below), no contribution will be accepted unless it is in cash and the total of such contributions to all the Owner's ’s Xxxx IRAs for a taxable year does not exceed the applicable amount (as defined in paragraph (b) below), or the Owner's ’s compensation (as defined in paragraph (h) below), if less, for that taxable year. The contribution described in the previous sentence that may not exceed the lesser of the applicable amount or the Owner's ’s compensation is referred to as a "“regular contribution." ” A "“qualified rollover contribution" ” is a rollover contribution that meets the requirements of §408(d)(3section 408 (d)(3) of the Internal Revenue Code, except that the one-rollover-per-year rule of §section 408(d)(3)(B) does not apply if the rollover contribution is from an IRA XXX other than a Xxxx XXX (a "“nonRoth IRA"XXX”). Contributions may be limited under paragraphs (c) through (e) below. (b).

Maximum Permissible Amount. Except in the case of a qualified rollover contribution or a recharacterization (as defined in (f) below), no contribution will be accepted unless it is in cash and the total of such contributions to all the Owner's Xxxx IRAs RXXX IRA's for a taxable year does not exceed the applicable amount (as defined in (b) below), or the Owner's compensation (as defined in (h) below), if less, for that taxable year. The contribution described in the previous sentence that may not exceed the lesser of the applicable amount or the Owner's compensation is referred to as a "regular contribution." ". A "qualified rollover contribution" is a rollover contribution that meets the requirements of §IRC Section 408(d)(3) of the Internal Revenue Code), except the one-rollover-per-year rule of §Section 408(d)(3)(B) does not apply if the rollover contribution is from an IRA other than a Xxxx RXXX XXX (a "nonRoth nonROTH IRA"). Contributions may be limited under (c) through (e) below. (b).