DEFINITION OF HARDSHIP. A hardship distribution under this Section 14.11 must be on account of one or more of the following immediate and heavy financial needs: (1) medical care described in Code Section 213(d) incurred by the Participant, by the Participant's spouse, or by any of the Participant's dependents, or necessary to obtain such medical care; (2) the purchase (excluding mortgage payments) of a principal residence for the Participant;
DEFINITION OF HARDSHIP. A hardship distribution under this Section 14.11 must be on account of one or more of the following immediate and heavy financial needs: (1) medical expenses described in Code Section 213(d) incurred by the Participant, by the Participant's spouse, or by any of the Participant's dependents; (2) the purchase (excluding mortgage payments) of a principal residence for the Participant; (3) the payment of post-secondary education tuition, for the next semester or for the next quarter, for the Participant, for the Participant's spouse, or for any of the Participant's dependents; or (4) to prevent the eviction of the Participant from his principal residence or the foreclosure on the mortgage of the Participant's principal residence.
DEFINITION OF HARDSHIP. The Plan’s definition is hardship is:
(A) The Internal Revenue Service’s safe harbor definition of hardship.
(B) Other (please describe).
DEFINITION OF HARDSHIP. For purposes of this Section 6.03(B), a hardship distribution, must be on account of one or more of the following immediate and heavy financial needs: (1) medical expenses described in Code Section 213(d) incurred by the Participant, by the Participant's spouse, or by any of the Participant's dependents (as defined in Code Section 152), or necessary for these persons to obtain such medical care; (2) costs directly related to the purchase (excluding mortgage payments) of a principal residence for the Participant; (3) the payment of post-secondary education tuition and related educational fees, for the next 12 months, for the Participant, for the Participant's spouse, or for any of the Participant's dependents (as defined in Code Section 152); or (4) to prevent the eviction of the Participant from his principal residence or the foreclosure on the mortgage of the Participant's principal residence. The amount of a Participant's immediate and heavy financial need may include amounts necessary to pay any Federal, State, or local income taxes or penalties reasonably anticipated to result from the hardship distribution.
DEFINITION OF HARDSHIP. For purposes of this Section 6.03(B), a hardship distribution, must be on account of one or more of the following immediate and heavy financial needs: (1) medical expenses described in Code (S) 213(d) incurred by the Participant, by the Participant's spouse, or by any of the Participant's dependents (as defined in Code Section 152), or necessary for these persons to obtain such medical care; (2) costs directly related to the purchase (excluding mortgage payments) of a principal residence for the Participant; (3) the payment of post-secondary education tuition and related educational fees, for the next 12 months, for the Participant, for the Participant's spouse, or for any of the Participant's dependents (as defined in Code Section 152); (4) to prevent the eviction of the Participant from his principal residence or the foreclosure on the mortgage of the Participant's principal residence or (5) to prevent the foreclosure on the mortgage on the Participant's land on which the Participant's principal residence (including a mobile home) is located. The amount of a Participant's immediate and heavy financial need may include amounts necessary to pay any Federal, State, or local income taxes or penalties reasonably anticipated to result from the hardship distribution.
DEFINITION OF HARDSHIP. There is Hardship where the occurrence of events fundamentally alters the equilibrium of the contract either because the cost of a party's performance has increased or because the value of the performance a party receives has diminished, and (a) the events occur or become known to the disadvantaged party after the conclusion of the contract; (b) the events could not reasonably have been taken into account by the disadvantaged party at the time of the conclusion of the contract; (c) the events are beyond the control of the disadvantaged party; and (d) the risk of the events was not assumed by the disadvantaged party.
DEFINITION OF HARDSHIP. Hardship," as used herein, shall mean a state of financial stringency occasioned by the incurrence of extraordinary and necessary expenses by the Participant for medical or dental treatments for himself or for members of his family who are dependent upon him for support, for the education of his children, or to provide housing for his family in the manner in which they are accustomed to living. Such a state of financial stringency may also be occasioned by a loss or diminution of earnings of the Participant because of his temporary inability, due to physical or mental illness, accidental or otherwise, to perform the usual duties of his employment, or because of a general deterioration of economic conditions which affects substantially all of the Employees of the Employer. A distribution will be for reasons of hardship if the distribution is necessary in light of immediate and heavy financial needs of the Participant. A distribution based upon financial hardship cannot exceed the amount required to meet the immediate financial need created by the hardship and cannot be reasonably available from other resources of the Participant. The determination of the existence of financial hardship and the amount distributed to meet the hardship shall be made on a uniform and nondiscriminatory basis for all Employees.
DEFINITION OF HARDSHIP. Upon the occurrence of hardship a Participant who is an Employee may withdraw, effective as of such Valuation Date as the Administrative Committee shall designate, amounts from his Post-Tax Contributions Account, the vested portion of his Pre-IPO Matching Contributions Account and Post-IPO Matching Contributions Account, his Segregated Account, his Pre-Tax Contributions Account and the vested portion of his Profit Sharing Contributions Account. For purposes of this Article 7, the term "hardship" shall mean immediate and substantial financial need arising out of any one or more of the following:
DEFINITION OF HARDSHIP. Hardship" means any severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or the Participant's dependent (as defined in Section 152(a) of the Code), loss of the Participant's property due to casualty, or other similar extraordinary and unforeseen circumstances arising as a result of events beyond the control of the Participant. The circumstances that will constitute an unforeseeable emergency will depend on the facts of each case, but, in any case, payment may not be made to the extent that such hardship is or may be relieved (i) through reimbursement or compensation by insurance or otherwise; (ii) by liquidation of the Participant's assets, to the extent the liquidation of such assets would not itself cause severe financial hardship; or (iii) by cessation of deferrals under the Plan. Furthermore, examples of events that would not be considered unforeseeable emergencies include the need to send a Participant's child to college or the desire to purchase a home.
DEFINITION OF HARDSHIP. “The Employees” will be entitled to claim the hardship allowance under the following circumstances:
(a) For all options, other than Option three (3), where “the Employee” is required to prepare or supply meals and maintain their accommodation facilities when working in remote or isolated regions where serviced commercial accommodation is not available or provided.
(b) For all options, other than Option three (3), when “the Employees” are placed in accommodation where “the Employer’s” recommended accommodation standard could not be provided and the length of stay is for two (2) or more overnight absences.
(c) For all options, other than Option three (3) when “the Employees” are placed into accommodation on a twin share basis for each overnight absence. Where “the Employer” tenders and is successful in obtaining contracts outside of “the Employer’s” regulated area of operations, “the Employer” reserves the right to offer only full board and accommodation to a standard agreed by the relevant Employees and the Employer’s supervisor. This clause will not apply to “the Employer’s” Employees working on “the Employer’s” assets under current Service Level Agreements.
