Allocation of Trust Assets Other than Stock Sample Clauses

Allocation of Trust Assets Other than Stock. The net worth of such Trust assets as determined on each Allocation Date pursuant to Section 5.05 shall be compared with the total of all amounts standing to the credit of Part B of the Accounts all Members of the Plan, as of such Allocation Date, excluding from Part B of the Accounts of said Members any Current Dividends and any amounts credited from the contributions of the Company with respect to the period ending with said Allocation Date. The excess or deficiency of such net worth as so compared with the total Part B account balances of the Accounts of all Members shall be credited or charged to Part B of the Accounts of all such Members in the proportion that each such Part B account balance bears to the total of all such Part B account balances. After the adjustments described above, Current Dividends, if any, shall be credited to the Part B of the Account of each Member in the same proportion as the number of shares of Stock credited to Part A of his Account, exclusive of Stock credited from the contributions of the Company with respect to the period ending with said Allocation Date, bears to the total number of such shares credited to Part A of the Accounts of all Members. Notwithstanding the foregoing, effective August 1, 2002, Current Dividends shall be credited to the Dividend Account of each Member. Prior to the time that the Current Dividends are reinvested in shares of Stock or distributed in cash to Members, they shall be invested in a short-term money market vehicle or other similar cash equivalents.
Sample 1
AutoNDA by SimpleDocs
Allocation of Trust Assets Other than Stock. The net worth of such ------------------------------------------- Trust assets as determined on each Allocation Date pursuant to Section 5.05 shall be compared with the total of all amounts (other than Stock) standing to the credit of the Accounts of all Members in the Plan as of such Allocation Date, excluding from the Accounts of said Members any Current Dividends and, in the case of an Allocation Date which is also the last day of a Plan Year, forfeitures reallocated to Accounts pursuant to section 5.04 and any amounts credited from the contribution of the Company with respect to the Plan Year ending with said Allocation Date. The excess or deficiency of the net worth as so compared with the total Account balances (other than Stock) for all Members, shall be credited or charged to the Accounts of all such Members in the proportion that each such Account balance bears to the total of all such Account balances. After the adjustments described above, Current Dividends, if any, shall be credited to the Account of each Member in the same proportion as the number of shares of Stock credited to his Account (excluding, in the case of an Allocation Date which is also the last day of the Plan Year, Stock credited from the Company's contribution for such Plan Year) bears to the total number of such shares credited to the Accounts of all Members.
Sample 1

Related to Allocation of Trust Assets Other than Stock

  • Assets of Trust The assets of the Trust shall consist of the Trust Property.

  • Investment of Trust Assets Following ratification of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 4% of the aggregate shares of Common Stock issued by the Parent in the mutual-to-stock conversion of the Savings Bank ("Conversion"). The Trustee shall purchase shares of Common Stock in the open market or, in the alternative, shall purchase authorized but unissued shares of the Common Stock from the Parent sufficient to fund the Plan Share Reserve.

  • Trust Accounts Distributions Statements to Noteholders SECTION 5.1.

  • Limited Distributions of Income from Trust Account (a) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested by the Company to cover any income or other tax obligation owed by the Company.

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

  • Permitted Withdrawals from the Certificate Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the applicable subaccount of the Certificate Account for the following purposes:

  • VALUATION OF TRUST In addition to each Accounting Date, the Trustee must value the Trust Fund on the following valuation date(s): (Choose (a) or (b))

  • Waiver of Distributions from Trust Account In connection with the Securities purchased pursuant to this Agreement, the Purchaser hereby waives any and all right, title, interest or claim of any kind in or to any distributions from the Trust Account.

  • Custodial Accounts; Distribution Account (a) On or prior to the Closing Date, the Master Servicer shall have caused each Servicer to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements.

  • Permitted Withdrawals from the Certificate Account (a) The Master Servicer may, from time to time, make withdrawals from the Certificate Account for the following purposes (limited, in the case of Servicer reimbursements, to cases where funds in the respective Custodial P&I Account are not sufficient therefor):

Time is Money Join Law Insider Premium to draft better contracts faster.