Loan Procedures. □ (a) Loans will be provided under the default loan procedures set forth in Section 13 of the Plan, unless modified under this Appendix B.
Loan Procedures. 19 2.2.1 Various Types of Loans................................................................19 2.2.2 Borrowing Procedures..................................................................20 2.2.3 Conversion and Continuation Procedures................................................20 2.3
Loan Procedures. (a) Except for Same Day Loans funded under Section 2.2(b), the Company shall give written notice or telephonic notice (followed immediately by written confirmation thereof) to the Agent of each proposed borrowing not later than 10:00 A.M., Detroit time, at least two Business Days prior to the proposed date of such borrowing. Each such notice shall be effective upon receipt by the Agent, shall be irrevocable and shall specify the date and amount of the proposed borrowing. Within one Business Day after receipt of such notice, the Agent shall advise each Lender thereof. Not later than 1:00 P.M., Detroit time, on the date of a proposed borrowing, each Lender shall provide the Agent at the office specified by the Agent with immediately available funds covering such Lender’s Pro Rata Share of such borrowing and, so long as the Agent has not received written notice that the conditions precedent set forth in Section 10 with respect to such borrowing have not been satisfied, the Agent shall pay over the funds received by the Agent to the Company on the requested borrowing date. Each borrowing shall be on a Business Day.
Loan Procedures. The maximum number of days per request may not exceed thirty (30) days. No more than the number of total days in the bank as of July 1 may be advanced in any school year.
Loan Procedures. The Borrower may receive Loans in one or more series or classes hereunder by issuing a Promissory Note to the Lender.
Loan Procedures. Customer may obtain Loans under this Agreement as provided in (a), (b) or (c) below.
Loan Procedures. The Company shall give written notice or telephonic notice (followed immediately by written confirmation thereof) to the Agent of each proposed borrowing not later than 10:00 A.M., Detroit time, on the proposed date of such borrowing. Each such notice shall be effective upon receipt by the Agent, shall be irrevocable, and shall specify the date and amount of borrowing. Promptly upon receipt of such notice, the Agent shall advise each Lender thereof. Not later than 1:00 P.M., Detroit time, on the date of a proposed borrowing, each Lender shall provide the Agent at the office specified by the Agent with immediately available funds covering such Lender's Pro Rata Share of such borrowing and, so long as the Agent has not received written notice that the conditions precedent set forth in Section 10 with respect to such borrowing have not been satisfied, the Agent shall pay over the funds received by the Agent to the Company on the requested borrowing date. Each borrowing shall be on a Business Day.
Loan Procedures. Customer may obtain advances under the Loans under this Agreement as provided in (a), (b), (c) or (d) below.
Loan Procedures. (a) Loans will be provided under the default loan procedures set forth in Section 13 of the Plan, unless modified under this Appendix B. (b) Loans will be provided under a separate written loan policy. B-3 LOAN LIMITS. The default loan policy under Section 13.03 of the Plan allows Participants to take a loan provided all outstanding loans do not exceed 50% of the Participant’s vested Account Balance. To override the default loan policy to allow loans up to $10,000, even if greater than 50% of the Participant’s vested Account Balance, check this AA §B-3. A Participant may take a loan equal to the greater of $10,000 or 50% of the Participant's vested Account Balance. [If this AA §B-3 is checked, the Participant may be required to provide adequate security as required under Section 13.06 of the Plan.]
Loan Procedures. The Participant must complete any loan application or approval procedure required by the Employer as well as agreements or promissory notes as the Vendor actually extending the loan may require. No loans will be made if a loan is in default or the Administrator is made specifically aware of any similar default on a loan from another 403(b) account or annuity or other arrangement subject to section 72(p) of the Code. The Account may be charged such fees as are specified by the Vendor in the annuity contract or custodial account for loans.
