Investment of Deferral Account Balance Sample Clauses

Investment of Deferral Account Balance. (1) The Trustee may select, from various options made available by the Fund, the investment media in which all or part of his Deferral Account shall be deemed to be invested. (2) The Trustee shall make an investment designation on a form provided by the President of the Fund which shall remain effective until another valid direction has been made by the Trustee as herein provided. The Trustee may amend the investment designation as of the end of each calendar quarter by giving written direction to the President of the Fund at least 30 days prior to the end of such calendar quarter. A timely change in a Trustee's investment designation shall become effective on the first day of the calendar quarter following receipt by the President of the Fund. (3) The investment media deemed to be made available to the Trustee, and any limitation on the maximum or minimum percentages of the Trustee's Deferral Account that may be invested in any particular medium, shall be the same as from time to time communicated to the Trustee by the President of the Fund. (b) Except as provided below, the Trustee's Deferral Account shall be deemed to be invested in accordance with the investment designations, provided such designations conform to the provisions of this Section. If: (1) the Trustee does not furnish the President of the Fund with written investment instructions, (2) the written investment instructions from the Trustee are unclear, or (3) less than all of the Trustee's Deferral Account is covered by such written investment instructions, then the Trustee's Deferral Account shall be deemed to be invested in the Fund until such time as the Trustee shall provide the President of the Fund with complete investment instructions. Notwithstanding the above, the Board of Directors, in its sole discretion, may disregard the Trustee's election and determine that all Compensation Deferrals shall be deemed to be invested in the Fund. The Fund shall provide an annual statement to the Trustee showing such information as is appropriate, including the aggregate amount in the Deferral Account, as of a reasonably current date.
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Investment of Deferral Account Balance. (1) The Trustee may select from various options made available by the Funds the investment media in which all or part of his Deferral Account shall be deemed to be invested. The investment media available to the Trustee as of the date of this Agreement are listed in Attachment B hereto. (2) The Trustee shall make an investment designation on a form provided by the Secretary of the Funds (Attachment C) which shall remain effective until another valid designation has been made by the Trustee as herein provided. The Trustee may amend his investment designation daily by giving instructions to the Secretary of the Funds. (3) Any changes to the investment media to be made available to the Trustee, and any limitation on the maximum or minimum percentages of the Trustee's Deferral Account that may be invested in any particular medium, shall be communicated from time-to-time to the Trustee by the Secretary of the Funds. (b) Except as provided below, the Trustee's Deferral Account shall be deemed to be invested in accordance with his investment designations, provided such designations conform to the provisions of this Section. If: (1) the Trustee does not furnish the Secretary of the Funds with complete, written investment instructions, or (2) the written investment instructions from the Trustee are unclear, then the Trustee's election to make Compensation Deferrals hereunder shall be held in abeyance and have no force and effect, and he shall be deemed to have selected the Evergreen Money Market Fund until such time as the Trustee shall provide the Secretary of the Funds with complete investment instructions. In the event that any fund under which any portion of the Trustee's Deferral Account is deemed to be invested ceases to exist, such portion of the Deferral Account thereafter shall be held in the successor to such Fund, subject to subsequent deemed investment elections.
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Investment of Deferral Account Balance. (1) The Trustee may select, from various options made available by the Fund, the investment media in which all or part of his Deferral Account shall be deemed to be invested. (2) The Trustee shall make an investment designation on a form provided by the President of the Fund which shall remain effective until another valid direction has been made by the Trustee as herein provided. On the investment designation form, the Trustee may select from underlying investment securities from theoptions made available to the Trustee pursuant to Section 3.3(a)(1). The Trustee may amend the investment designation only once each calendar quarter by giving written direction to the President of the Fund. Unless otherwise specified, a Trustee's amendment to an investment designation applies only to future compensation Deferrals. A Trustee may amend the investment designation for existing amounts in the Trustee's Deferral Account provided, however, that such changes in investment designation will only be valid and applied to the existing amounts in the Trustee's Deferral Account if the Trustee provides sufficient instruction regarding amounts to be exchanged. A change in
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Investment of Deferral Account Balance. Subject to such limitations as may from time to time be required by law or imposed by the Committee, and subject to such operating rules and procedures as may be imposed from time to time by the Committee, each Director may express to the Committee a preference as to how the Director's Deferral Account should be constructively invested among the Investment Options. (a) Any initial or subsequent expression of investment preference shall be in writing, on a form provided by and filed with the Committee, and shall be subject to such rules and procedures as the Committee may promulgate from time to time, including rules as to when an expression of investment preference will be effective. In the event a grantor trust has been established, the Committee may forward the Directors expression of investment preference to the Trustee. (b) The contributions and credits and other amounts added to a Director's Deferral Account may be constructively invested in accordance with the then effective designation of investment preferences and (i) as of the effective date of any new investment preference, all or a portion of the Director's Deferral Account at that date may be constructively reallocated among the designated Investment Options according to the directions specified in the investment preference unless and until a subsequent investment preference shall be filed and become effective. Unless otherwise announced by the Committee, investment preferences may be changed no more than four (4) times per calendar year and must be received by the Committee no less than fifteen (15) days before the effective date of the change. (c) If the Committee receives an initial or revised investment preference which it deems to be incomplete, unclear or improper, the Director's investment preference then in effect shall remain in effect (or, in the case of a deficiency in an initial investment preference) until the next Valuation Date, unless the Committee provides for, and permits the application of, corrective action prior to that time. The Committee shall announce to the Director a default Investment Option, which shall be substituted for the Director's investment preference for any portion of his Deferral Account from which he fails to file an investment preference. (d) All investment preferences shall be advisory and shall not bind the Bank, the Committee, or Trustee (if any). The Bank shall not be obligated to invest any funds in connection with this Agreement. If, however, the Ba...
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Investment of Deferral Account Balance. (1) The Trustee may select, from various options made available by the Fund, the investment media in which all or part of his Deferral Account shall be deemed to be invested. (2) The Trustee shall make an investment designation on a form provided by the President of the Fund which shall remain effective until another valid direction has been made by the Trustee as herein provided. The Trustee may amend the investment designation as of the end of each calendar quarter by giving written direction to the President of the Fund at least 30 days prior to the end of such calendar quarter. A timely change in a Trustee's investment designation shall become effective on the first day of the calendar quarter following receipt by the President of the Fund. (3) The investment media deemed to be made available to the Trustee, and any limitation on the maximum or minimum percentages of the Trustee's Deferral Account that may be invested in any particular medium, shall be the same as from time to time communicated to the Trustee by the President of the Fund. (b) Except as provided below, the Trustee's Deferral Account shall be deemed to be invested in accordance with the investment designations,
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Related to Investment of Deferral Account Balance

  • Deferral Account Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Account Balance The Servicer must never allow any Custodial T&I Account to become overdrawn as to any individual related Borrower. If there are insufficient funds in the account, the Servicer must advance its own funds to cure the overdraft.

  • Account Balances Balances shown in your accounts may include deposits subject to verification by us. The balance reflected in the Service may differ from your records due to deposits in progress, checks outstanding, or other withdrawals, payments or charges. A transfer request may not result in immediate availability because of the time required to process the request. A transfer request must be made before the Business Day Cut-off time to be effective the same Business Day. The balances within the Service are updated periodically and the Service will display the most current "as of" date on the "accounts" summary page. There may be situations that cause a delay in an update of your balances. The Service will use the most current balance available at the time of a transaction to base our approval for account transfers.

  • Cash Account Except as otherwise provided in Instructions acceptable to Bank, all cash held in the Cash Account shall be deposited during the period it is credited to the Account in one or more deposit accounts at Bank or at Bank's London Branch. Any cash so deposited with Bank's London Branch shall be payable exclusively by Bank's London Branch in the applicable currency, subject to compliance with any Applicable Law, including, without limitation, any restrictions on transactions in the applicable currency imposed by the country of the applicable currency.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Deferred Compensation Account The Employer shall maintain on its books and records a Deferred Compensation Account to record its liability for future payments of deferred compensation and interest thereon required to be paid to the Employee or his beneficiary pursuant to this Agreement. However, the Employer shall not be required to segregate or earmark any of its assets for the benefit of the Employee or his beneficiary. The amount reflected in said Deferred Compensation Account shall be available for the Employer's general corporate purposes and shall be available to the Employer's general creditors. The amount reflected in said Deferred Compensation Account shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors of the Employee or his beneficiary, and any attempt to anticipate, alienate, transfer, assign or attach the same shall be void. Neither the Employee nor his beneficiary may assert any right or claim against any specific assets of the Employer. The Employee or his beneficiary shall have only a contractual right against the Employer for the amount reflected in said Deferred Compensation Account and shall have the status of general unsecured creditors. Notwithstanding the foregoing, in order to pay amounts which may become due under this Agreement, the Employer may establish a grantor trust (hereinafter the "Trust") within the meaning of Section 671 of the Internal Revenue Code of 1986, as amended. The assets in such Trust shall at all times be subject to the claims of the general creditors of the Employer in the event of the Employer's bankruptcy or insolvency, and neither the Employee nor any beneficiary shall have any preferred claim or right, or any beneficial ownership interest in, any such assets of the Trust prior to the time such assets are paid to the Employee or beneficiary pursuant to this Agreement. The Employer shall credit to said Deferred Compensation Account the amount of any salary to which the Employee becomes entitled and which is deferred pursuant to Section 1 hereof, such amount to be credited as of the first business day of each month. The Employer shall also credit to said Deferred Compensation Account an Interest Equivalent in the amount and manner set forth in Section 3 hereof.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement. 8.2 Contributions shall be recorded on a remittance form and remitted to the designated recipient of such contributions on or before the fifteenth (15) day of the month following the month for which contributions are to be made. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds, as liquidated damages and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter, interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 8.3 The amounts to be designated as wages and/or Employer contributions to the above funds may be varied from time to time by agreement between the Association and the Union. 8.4 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Funds, including provisions for audit security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. 8.5 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 8.6 All employer contributions due and payable to the above funds, except industry promotion funds, shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds and industry promotion funds are not wages or benefits due to an employee and industry promotion funds are dues for services rendered by the Association. 8.7 The Business Representative of the Local Union may inspect, during regular business hours, the Company's record of time worked by employees and contributions to the plan. 8.8 The Employer shall be responsible for the payment of any government sales taxes applicable to any trust fund contributions payable by the Employer.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

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

  • Participant Contributions If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).

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