Deemed Distribution definition

Deemed Distribution means an amount credited to a Settling Participant, identified on Exhibit B to the Cover Sheet, pursuant to Section 5.2.2 as an offset to amounts owed by the Settling Participant to the PX and/or ISO.
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Deemed Distribution shall have the meaning set forth in Section 5.03.
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Deemed Distribution means that the amount of your loan, plus any outstanding interest, will be treated as though it was an early payment of your benefits under Federal tax laws. This means that you will be required to pay federal income taxes on the outstanding amount of your loan plus any outstanding interest. If you are under age 59 1/2 and have not yet separated from Covered Employment, you may also be subject to an additional 10% early withdrawal tax. In addition, you will still be liable to the Plan for the outstanding balance of your loan and the loan will continue to accrue interest.
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Examples of Deemed Distribution in a sentence

  • Deemed Distribution Rules Applied to Expatriates with IRA Accounts: Effective as of the date of enactment of the HEART Act, "covered expatriates" who hold any interest in an individual retirement plan (other than a SEP or SIMPLE plan) on the day before the individual’s expatriation date are deemed to have received a distribution of his or her entire interest in that IRA account on the day before the expatriation date are taxed accordingly.

  • The PX and ISO shall reflect Deemed Distributions on the books and records of the PX and ISO as reductions in the amounts owed to the PX and/or ISO by any Settling Participant that receives a Deemed Distribution.

  • Subject to the provisions of Section 6.3.1, distribution of settlement proceeds, other than allocable share of the Aggregate Allowed Claim, to Deemed Distribution Participants under this Agreement will take the form of a reduction (“Deemed Distribution”) against such amounts owed and shall be reflected on the books of the ISO and PX.

  • CPX-51 and ISO-30 in the FERC Refund Proceeding for that period and are listed in Exhibit C as Deemed Distribution Participants.

  • No later than ten (10) Business Days after the Settlement Effective Date, a cash transfer shall be made from the PX Settlement Clearing Account to the Enron Refund Escrow in the amount of $15,000,000, less an amount equal to the total of all Deemed Distributions applicable to Deemed Distribution Participants pursuant to Section 6.5 that are Settling Participants.

  • This is usually referred to as a "Deemed Distribution." If you have not yet attained the age of 59½ at the time you engage in a Prohibited Transaction, the premature distribution penalty may also apply.

  • PG&E is not a Deemed Distribution Participant for purposes of this Settlement because it will not receive a cash distribution for amounts shown on the FERC Refund Proceeding Allocation Matrix.

  • Except as provided for Deemed Distribution Participants, the net refunds to be paid to each Settling Participant as shown on Exhibit B shall be paid from the Reliant Refund Escrow in the form of cash.

  • Distribution of settlement proceeds to Deemed Distribution Participants under this Agreement will take the form of a reduction (a “Deemed Distribution”) against such amounts owed and shall be reflected on the books of the ISO and PX.

  • Except as provided below for Deemed Distribution Participants, the refunds payable to each Opt-In Participant that is owed refunds in the FERC Refund Proceeding Allocation Matrix shall be paid from the Enron Refund Escrow in cash to such Opt-In Participants no later than twenty (20) Business Days after the Settlement Effective Date.


More Definitions of Deemed Distribution

Deemed Distribution means a Distribution (of a Vested Account of not more than $0) that is deemed distributed under Provision 15.2. This definition is limited and is not intended to include any other Distribution or distribution that is or may be a deemed distribution within the meaning of IRC § 3405 or otherwise for federal income tax reporting purposes.
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Deemed Distribution means an amount credited to Settling Supplier under a Prior Settlement as an offset to amounts owed by Settling Supplier to the PX or ISO.
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Deemed Distribution. Amount shall mean an amount in the Decommissioning Trust Fund that is treated by Applicable Tax Law as having been distributed by reason of the disqualification of all or a part of such Fund. Excess Contribution shall mean the amount by which cash payments made (or deemed made) by El Paso into the Decommissioning Trust Fund during any taxable year of El Paso exceeds the payment limitation imposed by Applicable Tax Law. Expenses shall mean: (a) in the case of the Decommissioning Trust Fund, (i) the tax imposed by Code Section 468A(e)(2); (ii) any state or local tax imposed on the income or the assets of such Fund; and (iii) legal, accounting, and actuarial fees and expenses, trustee’s fees and expenses, and all other ordinary administrative costs and incidental expenses, incurred by Decommissioning Trustee, a Fiduciary Investment Manager, or El Paso in connection with the operation of such Fund, but in each case only to the extent permitted by Code Section 468A(e)(4)(B) or other Applicable Tax Law to be paid from the assets of a “Nuclear Decommissioning Reserve Fund,” as that term is used in Applicable Tax Law; and (b) in the case of the Second Fund, (i) any federal, state, or local tax actually paid by El Paso with respect to the income or the assets of such Fund including a payment to El Paso of the federal income tax (at the statutory rate) with respect to the taxable income of such Fund required to be included on El Paso’s federal income tax return; and (ii) legal, accounting and actuarial expenses, trustee’s fees and expenses, and all other ordinary administrative costs and incidental expenses, incurred by Decommissioning Trustee, a Fiduciary Investment Manager, or El Paso in connection with the operation of such Fund; provided, however, Expenses shall not include taxes on or with respect to fees paid to Decommissioning Trustee or a Fiduciary Investment Manager and taxes that Code Section 4951 requires be paid by Decommissioning Trustee. Fiduciary Investment Manager shall mean any institution or professional appointed by El Paso, other than Decommissioning Trustee, who is responsible for the investment and reinvestment of the Funds. License shall mean NRC Facility Operating License No. NPF-41, issued December 31, 1984, as the same may be amended, modified, extended, renewed or superseded from time to time. NRC shall mean the Nuclear Regulatory Commission of the United States of America or any successor agency. PVNGS shall mean the Palo Verde Nuclear Ge...
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Deemed Distribution means an amount credited to PG&E pursuant to Section 5.3.3.2 as an offset to amounts owed by PG&E to the PX.
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Deemed Distribution. As defined in Section 4.7.
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Deemed Distribution means that amount designated by a corporation as a distribution of dividends but that shall not be distributed during the year in which the designation is made. Thus, said monies may be kept in the books of the corporation in question for the purpose of meeting any contractual, business, or statutory obligations of said entities, to be taken into account at the time a distribution is carried by the Board of Directors or the chief officer of said corporations, and subject to the discretion of the latter, in terms of the source or
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Related to Deemed Distribution

  • Scheduled Distribution means the distribution set forth in Section 4.1.

  • Permitted Distribution means any of the following:

  • Final Distribution means any distribution made in redemption of all or a portion of the Up-MACRO Tradeable Shares pursuant to Section 5.2(b) on the earlier of the Final Scheduled Termination Date or an Early Termination Date.