Plan Accounts. The BECU Consumer Lending Rates and Related Disclosures (the “Disclosures”) include important information about the credit extensions and advances we offer (called “accounts” or “loans”) and includes the range of rates that may be imposed under the Plan. Certain account transactions under the Plan, such as line of credit advances or credit card transactions, are also subject to additional terms described later in this Agreement that may vary from the general Plan terms set out below. In this Agreement, the capitalized word “Loans” means extensions of credit under your Line of Credit and/or Card.
Plan Accounts. Prior to the Closing Date and thereafter (as applicable), Seller and Purchaser shall take any and all action as may be required, including, if necessary, amendments to the tax qualified defined contribution plan of Seller in which Transferred Employees participate (the “Seller 401(k) Plan”) and/or the tax qualified defined contribution plan of Purchaser (the “Purchaser 401(k) Plan”), to permit each Transferred Employee to make rollover contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code, excluding loans) in cash in an amount equal to the eligible rollover distribution portion of the account balance distributable to such Transferred Employee from the Seller 401(k) Plan to the Purchaser 401(k) Plan.
Plan Accounts. The Company shall maintain a Plan Account on its books in the name of each Participant. Whenever an amount is deducted from the Participant’s Compensation under the Plan, such amount shall be credited to the Participant’s Plan Account. Axxxxxx credited to Plan Accounts shall not be trust funds and may be commingled with the Company’s general assets and applied to general corporate purposes. No interest shall be credited to Plan Accounts.
Plan Accounts. The following sections apply if the Client is, or is acting on behalf of: (i) a pension or other employee benefit plan (including a 401(k) plan) governed by Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or (ii) a tax- qualified retirement plan (including an individual retirement account or a Xxxxx plan) under Section 401(a) of the Code, and not covered by ERISA (collectively, a “Plan”).
Plan Accounts. Seller agrees that pursuant to ------------------------------------ Code Section 401(k)(2), the Acquisition will result in, and constitute, a distribution event for Transferred Employees who participate in the 401(k) plan(s) maintained by Seller or any ERISA Affiliate (the "401(k) Plan"). Seller further agrees that as soon as administratively feasible following the Closing Date, Transferred Employees who participate in the 401(k) Plan shall be provided the opportunity to take a distribution from the 401(k) Plan.
Plan Accounts. To the extent permitted by applicable law, the Purchaser shall use its best efforts to cause its defined contribution plan's trustee to accept rollovers of all of Xxxxxxxxx Oil 401(k) Profit Sharing Plan (the "Xxxxxxxxx Plan") participant accounts belonging to Acquired Employees.
Plan Accounts. Purchaser shall take any and all commercially reasonable actions as may be required to permit each Transferred Branch Employee who participates in a tax-qualified defined contribution retirement plan maintained by Seller or its Affiliate (“Seller Qualified Plan”) to make rollover contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code), in the form of cash, notes or a combination thereof, in an amount equal to the eligible rollover distribution portion of the account balance distributed to or distributable to such Transferred Branch Employee from the Seller Qualified Plan to the tax-qualified defined contribution retirement plan maintained by Purchaser or an Affiliate of Purchaser in which the Transferred Branch Employees are eligible to participate.
Plan Accounts. As soon as reasonably practicable following the Transfer Date, Purchaser shall cause a tax qualified defined contribution plan of Purchaser (the “Purchaser 401(k) Plan”), to accept rollover contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code, including loans) in cash and notes in the case of loans (and, for the avoidance of doubt, excluding any employer stock) in an amount equal to the eligible rollover distribution portion of the account balance distributable to such Transferred Employee from the tax qualified defined contribution plan of Seller subject to the terms and conditions of the Purchaser 401(k) Plan and Purchaser’s determination that such rollovers will not adversely affect the tax-qualified status of the Purchaser 401(k) Plan.
Plan Accounts. Parent, Seller and the ------------------------------------ Company agree that the Acquisition will result in, and constitute, a distribution event for the Company Employees under any Code Section 401(k) plan maintained by Parent pursuant to Code Section 401(k)(10)(A)(iii).
Plan Accounts. A bookkeeping account (each, a "Plan Account") shall be established for each Participant on books kept by the Partnership. Such account shall be unfunded and shall set forth the initial Grant of Incentive Compensation to a Participant, the Incentive Compensation Value of such Incentive Compensation (if any) at the time of such Grant, and the Incentive Compensation Value as of the end of each successive calendar quarter. A statement of a Participant's Plan Account shall be provided to such Participant on written request within 45 days of the Partnership's receipt of such request (but not more frequently than once per quarter).
