CONTRIBUTIONS AND CREDITS OF MEMBERS Sample Clauses

CONTRIBUTIONS AND CREDITS OF MEMBERS. 3.01 (a) A Member may, pursuant to a Compensation Deferral Agreement, have the Employer contribute to the Plan on his behalf Elective Contributions of up to 15% of his Compensation, up to a maximum of $7,000 per Plan Year (or, for Plan Years after 1987, such larger amount as may be permitted pursuant to the Code for such Plan Year) through payments no less frequently than monthly, to the Trustees. Each Compensation Deferral Agreement, including the percentage of deferral designated by a Member, shall be executed and delivered by the Member to the Company no later than 15 days prior to its commencement date, unless otherwise consented to by the Company. Such Compensation Deferral Agreement shall be revocable at any time by the Member upon delivery of a written revocation notice to the Company, and may be modified by the Member, as of the end of any fiscal quarter of any Plan Year. If a Compensation Deferral Agreement is revoked by the Member, he may not enter into a new Compensation Deferral Agreement until the next following Anniversary Date. All Elective Contributions made on behalf of a Member shall be: (1) credited to his Elective Account as of the day they are delivered to the Trustees, (2) fully vested and nonforfeitable at all times, and (3) be made no later than 30 days after the end of the Plan Year to which they relate. Any Elective Contributions which are made pursuant to the preceding sentence after the end of a Plan Year shall be credited to Members' Elective Accounts as of the end of the Plan Year.
Sample 1
AutoNDA by SimpleDocs

Related to CONTRIBUTIONS AND CREDITS OF MEMBERS

  • Rollover Contributions An amount which qualifies as a rollover contribution pursuant to the Federal Internal Revenue Code may be transferred to and paid under this contract as a contribution for a Participant. Prudential may require proof that the amount paid so qualifies.

  • Capital Contributions and Capital Accounts (a) The value of the interests contributed by the Class A Certificateholders and the Class I Certificateholders shall equal the amount paid by such Certificateholders for such interests, respectively, and such amounts shall constitute the opening balance in their Capital Accounts (as hereinafter defined). The value of the interests contributed by the Class IC Certificateholder shall equal the fair market value of the Receivables contributed to the Tax Partnership less the value attributed to the Class A Certificateholders and the Class I Certificateholders, as described above. Such amount shall constitute the opening balance in the Class IC Certificateholder's Capital Account.

  • Limitations Pertaining to Capital Contributions 5.2.1: Except as otherwise specifically provided in this Agreement, or as otherwise provided by law, no Member shall have the right to withdraw from the Company or to demand or receive a return of his capital without the consent of the Manager. Upon return of any Capital Contributions, no Member shall have the right to receive property other than cash except as may be specifically provided herein.

  • ALLOCATION OF CONTRIBUTIONS If the application is in good order, the initial Contribution will be applied within two Business Days of receipt at the Retirement Resource Operations Center. During the right to cancel period, all Contributions will be allocated in one or more of the Sub-Account(s) as specified in the application. During the right to cancel period, the Owner may change the allocations to the Sub-Accounts. Subsequent Contributions will be allocated to the Annuity Account in the proportion Requested by the Owner. If there are no accompanying instructions, then allocations will be made in accordance with standing instructions. Allocations will be effective upon the Transaction Date.

  • Capital Contributions and Accounts ..................................................12 4.01 Capital Contributions.............................................................12 4.02 Additional Capital Contributions and Issuance of Additional Partnership Interests.........................................................................12 4.03

  • Other Contributions If elected by the Plan Sponsor in Section 5.01(b) of the Adoption Agreement, the Employer will credit the Participant’s Account with a contribution determined in accordance with the formula or method specified in Section 5.01(b) of the Adoption Agreement. The contribution will be treated as allocated to the Participant’s Account at the time specified in Section 5.01(b)(iii) of the Adoption Agreement.

  • Catch-Up Contributions Unless otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make elective deferrals under this plan and who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into account for purposes of the provisions of the plan implementing the required limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to satisfy the provisions of the plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions.

  • Employer Contributions If Employer contributions are permitted, complete (a) and/or (b). Otherwise complete (c).

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

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