Individual Accounts; Distributions Sample Clauses

Individual Accounts; Distributions. (a) As soon as practicable after each Staff Employee becomes entitled to contributions to the RHA VEBA, the Plan Administrator will create a notional account for the Staff Employee, to which shall be credited all contributions to which the Staff Employee is entitled, and to which shall be credited and debited a proportional share of all investment earnings and expenses, gains and losses. As soon as administratively feasible after April 1, 2015, Staff Employees will be afforded the ability to view their account balances and transactions on line, with website presentation similar to that provided in connection with account balances under the Deferred Savings Plan. (b) The value of each Staff Employee’s RHA VEBA account shall be fully vested (subject only to forfeiture in the event of death without surviving eligible spouse or dependents), but shall not be accessible for purposes of distribution until at and after retirement, death or other termination of employment. (c) Post-retirement distributions shall be limited to payment of “qualified medical expenses” of retired Staff Employees, their spouses and dependents. “Qualified Medical Expenses” shall have broadest permissible meaning under Section 213(d) of the Code and shall include, without limitation, Required Contributions under the ALPA Retiree Health Plan, Medicare Part B premiums, Medicare supplemental insurance premiums, Tricare premiums, medical and prescription drug expenses necessary to satisfy insurance deductibles, co-payments, co- insurance payments and out of pocket maxima, and any other qualified medical expense described in IRS Publication 502.
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Individual Accounts; Distributions. (a) As soon as practicable after each employee becomes entitled to contributions to the RHA VEBA, the Plan Administrator will create a notional account for the employee, to which shall be credited all contributions to which the employee is entitled, and to which shall be credited and debited a proportional share of all investment earnings and expenses, gains and losses . As soon as administratively feasible, employees will be afforded the ability to view their account balances and transactions on line, with website presentation similar to that provided in connection with account balances under the Deferred Savings Plan . (b) The value of each employee’s RHA VEBA account shall be fully vested (subject only to forfeiture in the event of death without surviving eligible spouse or dependents), but shall not be accessible for purposes of distribution until at and after retirement, death or other termination of employment . (c) Post-retirement distributions shall be limited to payment of “qualified medical expenses” of retired employees, their spouses and dependents. “Qualified Medical Expenses” shall have broadest permissible meaning under Section 213(d) of the Code and shall include, without limitation, Required Contributions under the ALPA Retiree Health Plan, Medicare Part B premiums, Medicare supplemental insurance premiums, Tricare premiums, medical and prescription drug expenses necessary to satisfy insurance deductibles, co-payments, co-insurance payments and out of pocket maxima, and any other qualified medical expense described in IRS Publication 502 . (d) The Plan will provide for transmission of account balances upon death of the employee to the employee’s surviving spouse and, if there is no surviving spouse, to the employee’s surviving eligible dependents, to the maximum legally permissible extent . In the absence of a surviving spouse or surviving eligible dependents, the balance remaining in employee’s account will be forfeited and reallocated among the accounts of surviving employees in proportion to their account balances .
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Related to Individual Accounts; Distributions

  • Accounts Distributions (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee for the benefit of the Owners and the Note Insurer, the Accounts as provided in the Sale and Servicing Agreement. The Indenture Trustee shall deposit amounts into the Accounts in accordance with the terms hereof and the Sale and Servicing Agreement. (b) On or before the Monthly Remittance Date prior to each Payment Date, the Servicer shall withdraw from the Principal and Interest Account the amounts specified in Section 3.03(a) of the Sale and Servicing Agreement and will deliver such amount to the Indenture Trustee for deposit into the Note Account. No later than the Business Day prior to each Payment Date, to the extent funds are available in the Note Account, the Indenture Trustee shall either retain funds in the Note Account or make the withdrawals from the Note Account and deposits into the other Accounts for distribution on such Payment Date as required pursuant to Section 3.03(b) of the Sale and Servicing Agreement. (c) On each Payment Date and the Redemption Date, to the extent funds are available in the Note Account, the Indenture Trustee shall make the following distributions from the amounts on deposit in the Note Account in the following order of priority (except as otherwise provided in Section 5.4(b)): (i) to the Owners of the Notes, the Current Interest for such Payment Date; provided, that if there are not sufficient funds in the Note Account to pay the entire amount of accrued and unpaid interest then due on the Notes, the amount in the Note Account shall be applied to the payment of such interest on the Notes pro rata on the basis of the total such interest due on the Notes; and (ii) to the Owners of the Notes, the Principal Payment Amount for such Payment Date until the Note Principal Balance is reduced to zero. (d) The Indenture Trustee shall make claims under the Note Insurance Policy pursuant to Section 7.02 of the Sale and Servicing Agreement and in accordance with the Note Insurance Policy. The Indenture Trustee shall deposit any Insured Payment received from the Note Insurer in the Note Account. All amounts received under the Note Insurance Policy shall be used solely for the payment to Owners of principal and interest on the Notes.

  • 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. (b) The Securities Administrator, as Paying Agent for the Trust, shall establish and maintain an Eligible Account entitled “Distribution Account of Xxxxx Fargo Bank, N.A., as Securities Administrator for the benefit of Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-10XS, Holders of Mortgage Pass-Through Certificates.” The Securities Administrator shall, promptly upon receipt from the Servicers on each related Distribution Account Deposit Date, deposit into the Distribution Account and retain on deposit until the related Distribution Date the following amounts: (i) the aggregate of collections with respect to the Mortgage Loans remitted by the Servicers from the related Custodial Accounts in accordance with the Purchase and Servicing Agreements; (ii) any amounts required to be deposited by the Master Servicer with respect to the Mortgage Loans for the related Due Period pursuant to this Agreement, including the amount of any Advances or Compensating Interest Payments with respect to the Mortgage Loans not paid by the Servicers; and (iii) any other amounts so required to be deposited in the Distribution Account in the related Due Period pursuant to this Agreement. (c) In the event the Master Servicer or a Servicer has remitted in error to the Distribution Account any amount not required to be remitted in accordance with the definition of Available Distribution Amount, it may at any time direct the Securities Administrator to withdraw such amount from the Distribution Account for repayment to the Master Servicer or Servicer, as applicable, by delivery of an Officer’s Certificate to the Securities Administrator and the Trustee which describes the amount deposited in error.

  • Individual Account An individual account is an account owned by you alone, which you as the account owner use during your lifetime.

  • Individual Accounts An individual account is an account owned by one depositor including any individual, corporation, partnership, trust, or other organization qualified for Credit Union membership. If the account is an individual account, the interest of a deceased individual owner will pass, subject to applicable law, to the decedent’s estate or payable on death (“POD”) beneficiary, if applicable.

  • Trust Accounts Distributions Statements to Noteholders SECTION 5.1. Establishment of Trust Accounts...............................43 SECTION 5.2. Pre-Funding Period Reserve Account............................47 SECTION 5.3. Certain Reimbursements to the Servicer........................48 SECTION 5.4. Application of Collections....................................48 SECTION 5.5. Withdrawals from Series 1997-1 Spread Account.................48 SECTION 5.6. Additional Deposits...........................................49 SECTION 5.7. Distributions.................................................49 SECTION 5.8. Note Distribution Account.....................................52 SECTION 5.9. Pre-Funding Account...........................................53 SECTION 5.10. Statements to Noteholders....................................53 SECTION 5.11. Optional Deposits by the Insurer.............................54

  • Profits and Losses Distributions Until the admission of additional Members, the Original Member shall be entitled to all allocations of LLC profits and losses and to allocations of distributions.

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Hardship Distribution Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority: (i) First, to creditors of the Series, including the Members who are creditors, to the extent otherwise permitted by law, in satisfaction (whether by payment or the making of reasonable provision for payment thereof) of all debts, liabilities, obligations and expenses of the Series, including, without limitation, the expenses incurred in connection with the liquidation of the Series; and (ii) Second, to the Members pro rata in proportion to their holdings of Shares, with such Distributions to be made by the end of the Fiscal Year during which the liquidation occurs (or, if later, ninety (90) days after the date of the liquidation).

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