Maximum Loan Amount. A loan to a Participant (when added to the outstanding balance of all other loans made to the Participant under this Plan) shall not be in an amount that exceeds the Allocable Portion of the total balance in the Participant’s After-tax Savings Account and Section 401(k) Contribution Account (valued as of the Valuation Date coinciding with or immediately preceding the date of such loan). The Allocable Portion shall be adjusted accordingly in the event the maximum permissible loan amount under Section 72(p) of the Code (or any successor provision) is decreased.
Appears in 5 contracts
Samples: Retirement and Savings Plan (Host Marriott Corp/), Retirement and Savings Plan (Host Marriott Corp/), Retirement and Savings Plan (Host Hotels & Resorts L.P.)
