Disposition of Excess Amounts Sample Clauses

Disposition of Excess Amounts. Any Excess Amount attributed to this Plan will be disposed in the manner described in Section 7.1(c).
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Disposition of Excess Amounts. If, pursuant to Section 3.8(A)(3), or as a result of the allocation of forfeitures or under other limited facts and circumstances satisfactory to the Commissioner of Internal Revenue there is an "Excess Amount" (as defined in Section 3.8(D)(6)) with respect to a Participant for a Limitation Year, such "Excess Amount" shall be disposed of as follows: (a) First, any Participant Contributions, to the extent their return would reduce the "Excess Amount", shall be paid to the Participant as soon as is administratively feasible. The Administrative Committee shall certify to the Trustee the amount of any such reduction to be returned to any Participant and the name and address of the Participant. (b) Second, if, after the application of Section 3.8(A)(4)(a), an "Excess Amount" still exists, and the Participant is covered by the Plan at the end of a Limitation Year, the "Excess Amount"in the Participant's account shall be used to reduce Employer contributions (including any allocation of forfeitures), for such Participant in the next Limitation Year (and for each succeeding Limitation Year as necessary). (c) If, after the application of Section 3.8(A)(4)(a) an "Excess Amount" still exists, and the Participant is not covered by the Plan at the end of a Limitation Year, the "Excess Amount" shall be held unallocated in a suspense account. The suspense account shall be applied in the next Limitation Year (and succeeding Limitation Years, as necessary) to reduce Employer contributions for all remaining Participants. (d) If a suspense account is in existence at any time during a Limitation Year pursuant to this Section 3.8(A)(4), it shall not participate in the allocation of the Trust's investment gains and losses. If a suspense account is in existence at any time during a particular Limitation Year, all amounts in the suspense account must be allocated and reallocated to Participants' accounts before any "Employer" contributions or any Employee contributions may be made to the Plan for that Limitation Year. "Excess Amounts" may not be distributed to Participants or former Participants. In the event the Plan of an adopting "Employer" is terminated and any portion of the "Excess Amount" cannot be allocated to Participants under this Section 3.8(A)(4), such portion of such "Excess Amount" shall revert to such adopting "Employer".
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Disposition of Excess Amounts. If the determination of a Participant's Maximum Permissible Amount pursuant to subsection 5.6(b) results in an Excess Amount, such Participant's After-Tax Contributions and then Salary Reduction Deferrals will be returned to him or her, to the extent that the return would reduce the Excess Amount. If a return of these amounts does not eliminate the Excess Amount and the Participant is covered by the Plan at the end of the Limitation Year, the Excess Amount will be used to reduce Employer Contributions (including any allocation of Forfeitures) for such Participant in the next Limitation Year and each succeeding Limitation Year if necessary. If a return of these amounts does not eliminate the Excess Amount and the Participant is not covered by the Plan at the end of a Limitation Year, the remaining Excess Amount will be credited to the Suspense Account described in Section 5.10. Notwithstanding the foregoing, if return of Required Contributions would result in discrimination in practice, the Plan Administrator will not return such Required Contributions to such Participant.
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Disposition of Excess Amounts. If the application of this Section 5.7 results in an Excess Amount attributed to this Plan, such Excess Amount will be disposed of as provided in subsection 5.6(c).
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Disposition of Excess Amounts. If the Plan Administrator allocates an excess amount to a Participant's account for a year, the Plan Administrator shall dispose of the excess amount as follows: a. The Plan Administrator shall direct the Trustee to return any nondeductible voluntary Employee contributions to the Participant, to the extent that the return would reduce the excess amount. b. If, after the application of subsection 14.03.a., an excess amount still exists and the Plan covers the Participant at the end of the Year, then the Plan Administrator shall use the excess amount to reduce future Employer contributions (including any allocation of forfeitures) under the Plan for the next Year and for each succeeding Year, as is necessary, for the Participant. c. If, after the application of subsection 14.03.a., an excess amount still exists and the Plan does not cover the Participant at the end of the Year, then the Plan Administrator shall hold the excess amount unallocated in a suspense account. The Plan Administrator shall apply the suspense account to reduce Employer contributions (including any allocation of forfeitures) for all remaining Participants in the next Year, and in each succeeding Year, if necessary. d. Except as provided in Section 14.03.a., the Plan Administrator shall not distribute any excess amount to Participants or former Participants.
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Related to Disposition of Excess Amounts

  • Refund of Excess Cash If at any time the credit balance of Timber Sale Account exceeds the charges for timber that Forest Service estimates will be cut within the next 60 days, any portion of such excess that is due to cash in the account shall be refunded, if re- quested by Purchaser, unless deposited under B4.211,

  • Termination of Exchange Fund Any portion of the Exchange Fund which remains undistributed to the holders of Company Common Stock for 180 days after the Effective Time shall be delivered to Parent, upon demand, and any holders of the Company Common Stock who have not theretofore complied with this Article II shall thereafter look only to Parent for the shares of Parent Common Stock, any cash in lieu of fractional shares of Parent Common Stock to which they are entitled pursuant to Section 2.02(e) and any dividends or other distributions with respect to the Parent Common Stock to which they are entitled pursuant to Section 2.02(c).

  • Allocation of Excess Nonrecourse Liabilities For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s respective interest in Partnership profits shall be equal to such Holder’s Percentage Interest with respect to Partnership Common Units, except as otherwise determined by the General Partner.

  • Excess Cash Borrower shall establish on the date hereof an Eligible Account with Lender or Lender’s agent into which Borrower shall deposit all Excess Cash on each Payment Date during the continuation of a Cash Sweep Period (the “Excess Cash Reserve Account”). Amounts so deposited shall hereinafter be referred to as the “

  • Determination of Excise Tax Liability Unless the Company and the Executive otherwise agree in writing, the Company will select a professional services firm (the “Firm”) to make all determinations required under this Section 6, which determinations will be conclusive and binding upon the Executive and the Company for all purposes. For purposes of making the calculations required by this Section 6, the Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and the Executive will furnish to the Firm such information and documents as the Firm reasonably may request in order to make determinations under this Section 6. The Company will bear the costs and make all payments for the Firm’s services in connection with any calculations contemplated by this Section 6. The Company will have no liability to the Executive for the determinations of the Firm.

  • Termination of Exchange Fund; No Liability At any time following twelve (12) months after the Effective Time, Parent shall be entitled to require the Exchange Agent to deliver to it any funds (including any interest received with respect thereto) remaining in the Exchange Fund that have not been disbursed, or for which disbursement is pending subject only to the Exchange Agent’s routine administrative procedures, to holders of Certificates or Book-Entry Shares, and thereafter such holders shall be entitled to look only to Parent (subject to abandoned property, escheat or other similar Laws) as general creditors thereof with respect to the Merger Consideration, including any amount payable in respect of Fractional Share Consideration in accordance with Section 2.5, and any dividends or other distributions on Parent Shares in accordance with Section 2.2(f), payable upon due surrender of their Certificates or Book-Entry Shares and compliance with the procedures in Section 2.2(b), without any interest thereon. Notwithstanding the foregoing, none of the Surviving Corporation, Parent or the Exchange Agent shall be liable to any holder of a Certificate or Book-Entry Share for any Merger Consideration or other amounts delivered to a public official pursuant to any applicable abandoned property, escheat or similar Law.

  • Distribution of Exchange Fund to Parent Any portion of the Exchange Fund that remains undistributed to the holders of the Certificates or Uncertificated Shares on the date that is one year after the Effective Time will be delivered to Parent upon demand, and any holders of shares of Company Common Stock that were issued and outstanding immediately prior to the Merger who have not theretofore surrendered or transferred their Certificates or Uncertificated Shares representing such shares of Company Common Stock for exchange pursuant to this Section 2.9 will thereafter look for payment of the Per Share Price payable in respect of the shares of Company Common Stock represented by such Certificates or Uncertificated Shares solely to Parent (subject to abandoned property, escheat or similar Laws), solely as general creditors thereof, for any claim to the Per Share Price to which such holders may be entitled pursuant to Section 2.7.

  • Allocation of Applied Realized Loss Amounts Any Applied Realized Loss Amounts shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then Outstanding in reduction of the Class Certificate Balance thereof.

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes: (i) to reimburse itself for Advances made pursuant to Section 6.03 (including amounts to reimburse the related Sub-Servicer for advances made pursuant to the applicable Sub-Servicing Agreement), the Servicer's and the Sub-Servicer's right to receive reimbursement pursuant to this subclause (i) being limited to amounts received on particular Mortgage Loans which represent Late Collections (net of the Servicing Fees) with respect to those particular Mortgage Loans; (ii) to pay itself the Servicing Fee; (iii) to reimburse itself for unreimbursed Servicing Advances, or to pay the related Sub-Servicer any unreimbursed Servicing Advances, the Servicer's right to receive reimbursement or make payments to the Sub-Servicer pursuant to this subclause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Insurance Proceeds, and condemnation awards; (iv) to reimburse itself (or the related Sub-Servicer) or the Depositor for expenses incurred by and recoverable by or reimbursable to it pursuant to Section 5.01 or 5.16; (v) to reimburse itself (or the related Sub-Servicer) for any Nonrecoverable Advances; (vi) to pay to itself (or the related Sub-Servicer) income earned on the investment of funds deposited in the Collection Account; (vii) to make deposits into the Certificate Account in the amounts and in the manner provided for herein; (viii) to make payments to itself or others pursuant to any provision of this Agreement, and to clear and terminate the Collection Account upon the termination of this Agreement; and (ix) to withdraw amounts deposited in error.

  • Excess Amount The excess of the Participant's Annual Additions for the Limitation Year over the Maximum Permissible Amount.

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