Common use of HARDSHIP DISTRIBUTIONS Clause in Contracts

HARDSHIP DISTRIBUTIONS. If the Plan is designated in the Adoption Agreement as a Cash or Deferred Profit Sharing Plan or a Profit Sharing Plan and the Employer elects in the Adoption Agreement to permit hardship distributions, a Participant may request a distribution from the Plan as a result of immediate and heavy financial needs of the Participant to the extent that the distribution is necessary to satisfy such financial needs. Hardship distributions are subject to the spousal consent requirements contained in Sections 401(a)(11) and 417 of the Code. The determination of whether a Participant has an immediate and heavy financial need shall be made by the Plan Administrator on the basis of all relevant facts and circumstances. A distribution shall be deemed to be made on account of an immediate and heavy financial need if the distribution is on account of: (a) Deductible medical expenses described in Section 213(d) of the Code incurred or necessary for medical care of the Participant, his spouse or dependents; (b) Purchase (excluding mortgage payments) of a principal residence for the Participant; (c) Cost of tuition and related educational fees for the next 12 months of post-secondary education for the Participant, his spouse, children or dependents; or (d) The need to prevent the eviction of the Participant from his principal residence or foreclosure on the mortgage of the Participant's principal residence. A distribution shall be considered as necessary to satisfy an immediate and heavy financial need of the Participant only if: (a) The Participant has obtained all distributions, other than hardship distributions, and all nontaxable loans under all plans maintained by the Employer; (b) All plans maintained by the Employer provide that the Participant's elective Deferrals and employee contributions shall be suspended for twelve (12) months after the receipt of the hardship distribution; (c) The distribution is not in excess of the amount of an immediate and heavy financial need (including amounts necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the distribution); and (d) All plans maintained by the Employer provide that the Participant may not make Elective Deferrals for the Participant's taxable year immediately following the taxable year of the hardship distribution in excess of the applicable limit under Section 402(g) of the Code for such taxable year less the amount of such Participant's Elective Deferrals for the taxable year of the hardship distribution. In the event of such distribution, when a Participant is less than one hundred percent (100%) vested in his Employer Account or Matching Account, the vested interest in the Employer Account or Matching Account shall thereafter be determined in accordance with Section 2.5.4 of the Plan.

HARDSHIP DISTRIBUTIONS. If 5.9.1 Effective January 1, 1989, if available and elected by the Plan is designated Employer in the Adoption Agreement as a Cash or Deferred Profit Sharing Plan or a Profit Sharing Plan and the Employer elects in the Adoption Agreement to permit hardship distributionsAgreement, a Participant may request a distribution due to hardship from the Plan as a result vested portion of his or her Accounts, (other than from his or her Qualified Nonelective Contributions Account, Qualified Matching Contributions Account or earnings accrued after December 31, 1988, on the Participant's Elective Deferrals) only if the distribution is made both due to an immediate and heavy financial needs need of the Participant to the extent that the distribution and is necessary to satisfy such financial needs. Hardship distributions are subject to the spousal consent requirements contained in Sections 401(a)(11) and 417 of the Code. The determination of whether a Participant has an immediate and heavy financial need shall be made by the Plan Administrator on the basis of all relevant facts and circumstances. need. 5.9.2 A hardship distribution shall be deemed to be made on account of an immediate and heavy financial need permitted only if the distribution is on account ofdue to: (aA) Deductible medical expenses described in Section 213(d) of the Code incurred or necessary for medical care of described in Code Section 213(d) incurred by the Participant, his spouse the Participant's Spouse, or dependentsany dependents of the Participant (as defined in Code Section 152); (bB) Purchase purchase (excluding mortgage payments) of a principal residence for the Participant; (cC) Cost payment of tuition and related educational fees for the next 12 months of post-secondary education for the Participant, his spouseor her Spouse, children or dependents; or; (dD) The the need to prevent the eviction of the Participant from his or her principal residence or foreclosure on the mortgage of the Participant's principal residence. ; or (E) any other condition or event which the Commissioner of the Internal Revenue Service determines is a deemed immediate and financial need. 5.9.3 A distribution shall will be considered as necessary to satisfy an immediate and heavy financial need of a Participant if all of the Participant only iffollowing requirements are satisfied: (aA) The Participant has obtained all distributions, other than hardship distributions, and all nontaxable loans under all plans maintained by the Employer; (b) All plans maintained by the Employer provide that the Participant's elective Deferrals and employee contributions shall distribution will not be suspended for twelve (12) months after the receipt of the hardship distribution; (c) The distribution is not in excess of the amount of an the immediate and heavy financial need of the Participant (including amounts necessary to pay any federalFederal, state or local income taxes or penalties reasonably anticipated to result from the distribution); and; (dB) All the Participant obtains all distributions, other than hardship distributions, and all nontaxable loans currently available under all plans maintained by the Employer provide that or an Affiliate; (C) the Participant's Elective Deferrals, Employee Thrift Contributions and Participant Voluntary Nondeductible Contributions will be suspended for at least 12 months after receipt of the hardship distribution in this Plan and in all other plans maintained by the Employer or an Affiliate; and (D) the Participant may not make Elective Deferrals for the Participant's taxable year immediately following the taxable year of the hardship distribution in excess of the applicable limit under Code Section 402(g) of the Code for such next taxable year less the amount of such Participant's Elective Deferrals for the taxable year of the hardship distribution. In distribution in this Plan and in all other plans maintained by the event of such distribution, when Employer or an Affiliate. 5.9.4 If the distribution is made from any Account other than a Participant is less than one hundred percent (100%401(k) vested in his Employer Account or Matching Contributions Account, the vested interest in the Employer Account a distribution due to hardship may be made without application of Section 5.9.3(B), 5.9.3(C), or Matching Account shall thereafter be determined in accordance with Section 2.5.4 of the Plan5.9.3(D).

HARDSHIP DISTRIBUTIONS. If 6.1 The Trustee shall, upon the direction of the Plan is designated in the Adoption Agreement as a Cash or Deferred Profit Sharing Plan Administrator, distribute all or a Profit Sharing Plan and portion of a Member's Employee Deferral Account or his Voluntary Contribution Account prior to the Employer elects time such accounts are otherwise distributable in accordance with the Adoption Agreement to permit hardship distributions, a Participant may request a distribution from the Plan as a result of immediate and heavy financial needs other provisions of the Participant to the extent Plan; provided, however, that the any such distribution is necessary to satisfy such financial needs. Hardship distributions are subject to the spousal consent requirements contained in Sections 401(a)(11) and 417 of the Code. The determination of whether a Participant has an immediate and heavy financial need shall be made by only if the Member is an Employee and demonstrates that he is suffering from "hardship" as determined herein. That portion of a Member's Employee Deferral Account which shall be available for a distribution under this Section shall be that portion consisting of Deferral Amounts (but not earnings thereon) less the unpaid principal sum of any outstanding loan made to the Participant pursuant to Plan Administrator on the basis Section 5. For purposes of all relevant facts and circumstances. A this Section, a distribution shall will be deemed to be made on an account of an immediate and heavy financial need hardship if the distribution is on account of: (a1) Deductible medical expenses described in Section 213(d) of the Code incurred by the Member, his spouse, or any dependents of the Member (as defined in Section 152 of the Code) or necessary for these persons to obtain medical care described in Section 213(d) of the Participant, his spouse or dependentsCode; (b2) Purchase purchase (excluding mortgage payments) of a principal residence for the ParticipantMember; (c3) Cost payment of tuition and related educational fees for the next 12 twelve months of post-secondary education for the ParticipantMember, his spouse, children children, or dependents; or; (d4) The the need to prevent the eviction of the Participant Member from his principal residence or foreclosure on the mortgage of the ParticipantMember's principal residence. A distribution shall be considered as necessary ; or (5) any other contingency determined by the Internal Revenue Service to satisfy constitute an "immediate and heavy financial need need" within the meaning of Regulations Section 1.401(k)-1(d). 6.2 In addition to the requirements set forth in Plan Section 6.1, any distribution pursuant to Plan Section 6.1 shall not be in excess of the Participant only if: amount necessary to satisfy the need determined under Section 6.1 and shall also be subject to the requirements of Subsection (a) or (b) of this Section. (1) the Member shall first obtain all distributions, other than hardship distributions, and all nontaxable loans currently available under all plans maintained by the Plan Sponsor; (2) the Plan Sponsor shall not permit Elective Deferrals or after-tax employee contributions to be made to the Plan or any other plan maintained by the Plan Sponsor, for a period of twelve (12) months after the Member receives the distribution pursuant to this Section; and (3) the Plan Sponsor shall not permit Elective Deferrals to be made to the Plan or any other plan maintained by the Plan Sponsor for the Member's taxable year immediately following the taxable year of the hardship distribution in excess of the limit under Plan Section 3.1(b) for the taxable year, less the amount of the Elective Deferrals made to the Plan or any other plan maintained by the Plan Sponsor for the taxable year in which the distribution under this Section occurs. (1) The Participant has obtained Member first obtains all other distributions, other than hardship distributions, and all nontaxable loans under all plans maintained by the Employer;Plan Sponsor; and (b2) All plans maintained The Plan Administrator determines that it can reasonably rely on the Member's certification by execution of a form provided by the Employer provide Plan Administrator that the Participant's elective Deferrals and employee contributions shall need determined under Plan Section 6.1 cannot be suspended for twelve relieved -- (12A) months after the receipt through reimbursement or compensation by insurance or otherwise, (B) by reasonable liquidation of the hardship distribution; (c) The distribution is not in excess assets of the amount of Member, his spouse and minor children, to the extent that the liquidation would not itself cause an immediate and heavy financial need and to the extent that the assets of the spouse and minor children are reasonably available to the Member, (including amounts necessary to pay any federalC) by cessation of Elective Deferrals, state or (D) by other distributions or local income taxes or penalties reasonably anticipated to result from nontaxable (at the time of the distribution); and (d) All loans from plans maintained by the Employer provide that the Participant may not make Elective Deferrals for the Participant's taxable year immediately following the taxable year of the hardship Plan Sponsor or any other employer, or by borrowing from commercial sources on reasonable commercial terms. Such distribution in excess of the applicable limit under Section 402(g) of the Code for such taxable year less the amount of such Participant's Elective Deferrals for the taxable year of the hardship distribution. In the event of such distribution, when a Participant is less than one hundred percent (100%) vested in his Employer Account or Matching Account, the vested interest in the Employer Account or Matching Account shall thereafter be determined made only in accordance with Section 2.5.4 such rules, policies, procedures, restrictions, and conditions as the Plan Administrator may from time to time adopt. Any determination of the Planexistence of hardship and the amount to be distributed on account thereof shall be made by the Plan Administrator (or such other person as may be required to make such decisions) in accordance with the foregoing rules as applied in a uniform and nondiscriminatory manner. A distribution under this Section shall be made in a lump sum to the Member and shall be subject to the Eligible Rollover Distribution requirements set forth in Plan Section 8.8 to the extent required by applicable law.

HARDSHIP DISTRIBUTIONS. If the Plan is designated in the Adoption Agreement as A Participant shall be considered to have encountered a Cash or Deferred Profit Sharing Plan or a Profit Sharing Plan and the Employer elects in the Adoption Agreement to permit financial hardship distributions, a Participant may request a distribution from the Plan as a result of immediate and heavy financial needs of the Participant to the extent that if the distribution is deemed by the Employer or Third Party Plan Administrator as necessary to satisfy such financial needs. Hardship distributions are subject to the spousal consent requirements contained in Sections 401(a)(11) and 417 of the Code. The determination of whether a Participant has an immediate and heavy financial need shall be made by the Plan Administrator on the basis of all relevant facts and circumstances. need. (a) A distribution shall will be deemed to be made on account because of an immediate and heavy financial need only if the distribution is approved pursuant to an Employer Instruction and is on account of: (ai) Deductible expenses for (or necessary to obtain) medical expenses described in care that would be deductible under Code Section 213(d) [determined without regard to whether the expenses exceed 7.5% of the Code adjusted gross income] incurred or necessary for medical care of by the Participant, his spouse the Participant’s spouse, or dependentsany dependents of the Participant (as defined in Code Section 152); (bii) Purchase costs directly related to the Participant’s purchase (excluding mortgage payments) of a his/her principal residence for the Participantresidence; (ciii) Cost payment of tuition and tuition, related educational fees fees, and room and board expenses, for up to the next 12 months of post-secondary education for the Participant, his his/her spouse, children or dependents; ordependents (as defined in Code Section 152, and, for taxable years beginning on or after January 1, 2005, without regard to Section 152(b)(1), (b)(2) and (d)(1)(B) of the Code); (div) The need payments needed to prevent the eviction of the Participant from his his/her principal residence or foreclosure on the mortgage of the Participant's ’s principal residence. A distribution shall be considered ; (v) payments for burial or funeral expenses for the Participant’s deceased parent, spouse, children or dependents (as necessary defined in Code Section 152, and, for taxable years beginning on or after January 1, 2005, without regard to satisfy an immediate and heavy financial need Section 152(d)(1)(B) of the Participant only if:Code); or (avi) The Participant has obtained all distributions, other than hardship distributions, and all nontaxable loans expenses for the repair of damage to the Participant’s principal residence that would qualify for the casualty deduction under all plans maintained by the Employer;Code (b) All plans maintained If permitted under the provisions of the Employer Plan, Participants, regardless of age, who have completed at least 15 years of service with a qualifying employer may opt for an increased deferral limit pursuant to Code Section 402(g)(7). Under the election, the annual limitation is increased by the Employer provide that smallest of: (i) $3,000; (ii) $15,000 minus any elective deferrals made by the Participant's organization and previously excluded under the catch-up election; or (iii) $5,000 times the Employee’s years of service minus the elective Deferrals and employee contributions shall be suspended for twelve (12) months after the receipt deferrals made to plans of the hardship distribution; (c) The distribution is not organization in excess of the amount of an immediate and heavy financial need (including amounts necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the distribution); and (d) All plans maintained by the Employer provide that the Participant may not make Elective Deferrals for the Participant's taxable year immediately following the taxable year of the hardship distribution in excess of the applicable limit under Section 402(g) of the Code for such taxable year less the amount of such Participant's Elective Deferrals for the taxable year of the hardship distributionprior tax years. In the event of such distribution, when a Participant is less than one hundred percent (100%) vested in his Employer Account or Matching Account, the vested interest in the Employer Account or Matching Account shall thereafter be determined in accordance with Section 2.5.4 of the Plan4.

HARDSHIP DISTRIBUTIONS. If 5.9.1 Effective January 1, 1989, if available and elected by the Plan is designated Employer in the Adoption Agreement as a Cash or Deferred Profit Sharing Plan or a Profit Sharing Plan and the Employer elects in the Adoption Agreement to permit hardship distributionsAgreement, a Participant may request a distribution due to hardship from the Plan as a result vested portion of his or her Accounts, (other than from his or her Qualified Nonelective Contributions Account, Qualified Matching Contributions Account or earnings accrued after December 31, 1988, on the Participant's Elective Deferrals) only if the distribution is made both due to an immediate and heavy financial needs need of the Participant to the extent that the distribution and is necessary to satisfy such financial needs. Hardship distributions are subject to the spousal consent requirements contained in Sections 401(a)(11) and 417 of the Code. The determination of whether a Participant has an immediate and heavy financial need shall be made by the Plan Administrator on the basis of all relevant facts and circumstances. need. 5.9.2 A hardship distribution shall be deemed to be made on account of an immediate and heavy financial need permitted only if the distribution is on account ofdue to: (aA) Deductible medical expenses described in Section 213(d) of the Code incurred or necessary for medical care of described in Code Section 213(d) incurred by the Participant, his spouse the Participant's Spouse, or dependentsany dependents of the Participant (as defined in Code Section 152); (bB) Purchase purchase (excluding mortgage payments) of a principal residence for the Participant; (cC) Cost payment of tuition and related educational education fees for the next 12 months of post-secondary education for the Participant, his spouseor her Spouse, children or dependents; or; (dD) The the need to prevent the eviction of the Participant from his or her principal residence or foreclosure on the mortgage of the Participant's principal residence. ; or (E) any other condition or event which the Commissioner of the Internal Revenue Service determines is a deemed immediate and financial need. 5.9.3 A distribution shall will be considered as necessary to satisfy an immediate and heavy financial need of a Participant if all of the Participant only iffollowing requirements are satisfied: (aA) The Participant has obtained all distributions, other than hardship distributions, and all nontaxable loans under all plans maintained by the Employer; (b) All plans maintained by the Employer provide that the Participant's elective Deferrals and employee contributions shall distribution will not be suspended for twelve (12) months after the receipt of the hardship distribution; (c) The distribution is not in excess of the amount of an the immediate and heavy financial need of the Participant (including amounts necessary to pay any federalFederal, state or local income taxes or penalties reasonably anticipated to result from the distribution); and; (dB) All the Participant obtains all distributions, other than hardship distributions, and all nontaxable loans currently available under all plans maintained by the Employer provide that or an Affiliate; (C) the Participant's Elective Deferrals, Employee Thrift Contributions and Participant Voluntary Nondeductible Contributions will be suspended for at least 12 months after receipt of the hardship distribution in this Plan and in all other plans maintained by the Employer or an Affiliate; and (D) the Participant may not make Elective Deferrals for the Participant's taxable year immediately following the taxable year of the hardship distribution in excess of the applicable limit under Code Section 402(g) of the Code for such next taxable year less the amount of such Participant's Elective Deferrals for the taxable year of the hardship distribution. In distribution in this Plan and in all other plans maintained by the event of such distribution, when Employer or an Affiliate. 5.9.4 If the distribution is made from any Account other than a Participant is less than one hundred percent (100%401(k) vested in his Employer Account or Matching Contributions Account, the vested interest in the Employer Account a distribution due to hardship may be made without application of Section 5.9.3(B), 5.9.3(C), or Matching Account shall thereafter be determined in accordance with Section 2.5.4 of the Plan5.9.3(D).

HARDSHIP DISTRIBUTIONS. If the Plan is designated in the Adoption Agreement as A Participant shall be considered to have encountered a Cash or Deferred Profit Sharing Plan or a Profit Sharing Plan and the Employer elects in the Adoption Agreement to permit financial hardship distributions, a Participant may request a distribution from the Plan as a result of immediate and heavy financial needs of the Participant to the extent that if the distribution is deemed by the Employer or Third Party Plan Administrator as necessary to satisfy such financial needs. Hardship distributions are subject to the spousal consent requirements contained in Sections 401(a)(11) and 417 of the Code. The determination of whether a Participant has an immediate and heavy financial need shall be made by the Plan Administrator on the basis of all relevant facts and circumstances. need. (a) A distribution shall will be deemed to be made on account because of an immediate and heavy financial need only if the distribution is approved pursuant to an Employer Instruction and is on account of: (ai) Deductible expenses for (or necessary to obtain) medical expenses described in care that would be deductible under Code Section 213(d) [determined without regard to whether the expenses exceed 7.5% of the Code adjusted gross income] incurred or necessary for medical care of by the Participant, his spouse the Participant’s spouse, or dependentsany dependents of the Participant (as defined in Code Section 152); (bii) Purchase costs directly related to the Participant’s purchase (excluding mortgage payments) of a his/her principal residence for the Participantresidence; (ciii) Cost payment of tuition and tuition, related educational fees fees, and room and board expenses, for up to the next 12 months of post-secondary education for the Participant, his his/her spouse, children or dependents; ordependents (as defined in Code Section 152, and, for taxable years beginning on or after January 1, 2005, without regard to Section 152(b)(1), (b)(2) and (d)(1)(B) of the Code); (div) The need payments needed to prevent the eviction of the Participant from his his/her principal residence or foreclosure on the mortgage of the Participant's ’s principal residence. A distribution shall be considered ; (v) payments for burial or funeral expenses for the Participant’s deceased parent, spouse, children or dependents (as necessary defined in Code Section 152, and, for taxable years beginning on or after January 1, 2005, without regard to satisfy an immediate and heavy financial need Section 152(d)(1)(B) of the Participant only if:Code); or (avi) The Participant has obtained all distributions, other than hardship distributions, and all nontaxable loans expenses for the repair of damage to the Participant’s principal residence that would qualify for the casualty deduction under all plans maintained by the Employer;Code (b) All plans maintained If permitted under the provisions of the EmployerPlan, Participants, regardless of age, who have completed at least 15 years of service with a qualifying employer may opt for an increased deferral limit pursuant to Code Section 402(g)(7). Under the election, the annual limitation is increased by the Employer provide that smallest of: (i) $3,000; (ii) $15,000 minus any elective deferrals made by the Participant's organization and previously excluded under the catch-up election; or (iii) $5,000 times the Employee’s years of service minus the elective Deferrals and employee contributions shall be suspended for twelve (12) months after the receipt deferrals made to plans of the hardship distribution; (c) The distribution is not organization in excess of the amount of an immediate and heavy financial need (including amounts necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the distribution); and (d) All plans maintained by the Employer provide that the Participant may not make Elective Deferrals for the Participant's taxable year immediately following the taxable year of the hardship distribution in excess of the applicable limit under Section 402(g) of the Code for such taxable year less the amount of such Participant's Elective Deferrals for the taxable year of the hardship distributionprior tax years. In the event of such distribution, when a Participant is less than one hundred percent (100%) vested in his Employer Account or Matching Account, the vested interest in the Employer Account or Matching Account shall thereafter be determined in accordance with Section 2.5.4 of the Plan4.

HARDSHIP DISTRIBUTIONS. If the Plan is designated in the Adoption Agreement as a Cash or Deferred Profit Sharing Plan or a Profit Sharing Plan and the Employer elects in the Adoption Agreement to permit hardship distributions, a A Participant may request a distribution from the Plan as for reasons of Hardship. Any such hardship distribution shall only be made from a result of Participant’s Deferred Income Account, Rollover Accounts and/or Transfer Accounts. As used throughout this Plan, Hardship shall mean immediate and heavy financial needs of the Participant, where such Participant to lacks other available resources. Such needs shall include only the extent that the distribution is necessary to satisfy such financial needs. Hardship distributions are subject to the spousal consent requirements contained in Sections 401(a)(11) and 417 of the Code. The determination of whether a Participant has an immediate and heavy financial need shall be made by the Plan Administrator on the basis of all relevant facts and circumstances. A distribution shall be deemed to be made on account of an immediate and heavy financial need if the distribution is on account offollowing: (a) Deductible Unreimbursed medical expenses (described in Section 213(d) of the Code Code) previously incurred or necessary for to obtain medical care on account of accident, sickness, or disability affecting the Participant, his spouse the Participant’s spouse, or dependentsthe Participant’s dependents (as defined in Section 152 of the Code); (b) Payment of tuition and related educational fees for the next twelve (12) months of post-secondary education for the Participant, the Participant’s spouse, the Participant’s children, or the Participant’s dependents (as defined in Section 152 of the Code); (c) Purchase (excluding mortgage payments) of a principal residence for the Participant; (c) Cost of tuition and related educational fees for the next 12 months of post-secondary education for the Participant, his spouse, children or dependents; or (d) The need to prevent the eviction of the Participant from his principal residence or foreclosure on the mortgage of the Participant’s principal residence; (e) Payment of burial or funeral expenses for the Participant’s parents, spouse, children or dependents (as defined in Section 152 of the Code); (f) Expenses for the repair of damage to the Participant's principal residenceresidence that would qualify for the casualty deduction under Section 165 of the Code (determined without regard to whether the loss exceeds ten percent (10%) of adjusted gross income). A distribution Notwithstanding any provisions of the Code or the Treasury Regulations to the contrary, a Participant’s immediate and heavy financial needs shall be considered as necessary to satisfy not include an immediate and heavy need of the Participant’s Beneficiary under the Plan who is not the Participant’s spouse or dependent. The amount of the hardship distribution shall not exceed the amount required to meet the immediate financial need of the Participant only if: (a) The Participant has obtained all distributions, other than hardship distributions, and all nontaxable loans under all plans maintained by the Employer; (b) All plans maintained by the Employer provide that the Participant's elective Deferrals and employee contributions shall be suspended for twelve (12) months after the receipt of the hardship distribution; (c) The distribution is not in excess of the amount of an immediate and heavy financial need (including may include any amounts necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the distribution). Hardship distributions shall be made only if the amount requested is not reasonably available from other resources of the Participant. The Participant must show, and the Employer may reasonably rely upon the Participant’s representation, that the need cannot be relieved through any of the following: (a) Reimbursement or compensation by insurance or otherwise; (b) Reasonable liquidation of the Participant’s assets, to the extent such liquidation would not itself cause an immediate and heavy financial need; (c) Cessation of deferrals under this Plan; andor (d) All Other distributions or nontaxable (at the time of the loan) loans from plans maintained by the Employer provide that the Participant may not make Elective Deferrals for the Participant's taxable year immediately following the taxable year or by any other employer, or by borrowing from commercial sources on reasonable commercial terms. The determination of the existence of financial hardship and the amount required to be distributed to meet the need shall be made by the Plan Administrator on the basis of the facts and circumstances. Before a Participant can receive a hardship distribution in excess under this Section, such Participant must have obtained all distributions (other than hardship distributions) and all nontaxable loans (other than hardship loans) currently available under all plans maintained by the Employer. In the event a Participant receives a hardship distribution from the Plan, such Participant shall not be eligible to defer income under the Plan or to make any employee contributions to any other plan of the applicable limit under Employer, except mandatory employee contributions to a defined benefit plan and contributions to any health or welfare benefit plan, including one that is part of a cafeteria plan within the meaning of Section 402(g) 125 of the Code Code, for such taxable year less the amount of such Participant's Elective Deferrals for the taxable year six (6) months after receipt of the hardship distribution. In the event of such distribution, when a Participant is less than Only one hundred percent (100%) vested hardship distribution shall be made in his Employer Account or Matching Account, the vested interest in the Employer Account or Matching Account any Plan Year. Hardship distributions shall thereafter be determined in accordance with Section 2.5.4 deemed to be made as of the Planfirst day of the Plan Year, and the Participant’s account or accounts from which such hardship distribution is made shall be reduced accordingly.