Qualified Trust of an individual means a trust (including, without limitation, a voting trust) established by such individual if and as long as:
Qualified Trustee means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the applicable Rating Agencies.
Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:
Income beneficiary means a person to whom net income of a trust is or may be payable.
Qualified Trust Institution means an institution organized under the laws of the United States of America or any state thereof or incorporated under the laws of a foreign jurisdiction with a branch or agency located in the United States of America or any state thereof and subject to supervision and examination by federal or state banking authorities that at all times (i) is authorized under such laws to act as a trustee or in any other fiduciary capacity, (ii) has capital, surplus and undivided profits of not less than $250,000,000 as set forth in its most recent published annual report of condition and (iii) has a long term deposits rating of not less than “BBB+” by S&P.
Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).
Qualified Non-Elective Contribution means any Employer contributions made pursuant to Section 4.1(c) and Section 4.6(b) and Section 4.8(f). Such contributions shall be considered an Elective Contribution for the purposes of the Plan and may be used to satisfy the "Actual Deferral Percentage" tests or the "Actual Contribution Percentage" tests.
Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.
Qualified Beneficiaries has the meaning set forth in Section 4.12.
Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.
Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.
Qualified Participant means a Participant who has attained age 55 and who has completed at least 10 years of participation in the Plan.
Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).
Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.
primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.
Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.
Qualified Transferee means an “accredited investor” as defined in Rule 501 promulgated under the Securities Act.
Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.
Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.
Grantor Trust means a Trust other than a RIC.
Eligible owner means an owner of real property who is eligible to or has entered into an installment agreement;
Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.
Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.
Eligible Spouse means a spouse of an Eligible Retiree who satisfies the requirements for eligibility described in the Eligibility section of this document, or an ex-spouse who is an Eligible Spouse with rights to coverage as an Eligible Spouse pursuant to a court order recognized by SHARP. A Spouse must be married to retiree at least one year prior to the effective date of retirement. A Spouse married after the retiree’s effective retirement date is considered a non-eligible spouse for purposes of the Plan. [See “Spouse”]
Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.