Plan Accounts Sample Clauses

Plan Accounts. The BECU Consumer Lending Rates and Related Disclosures (the “Disclosures”) include important information about the credit extensions and advances we offer (called “accounts” or “loans”) and includes the range of rates that may be imposed under the Plan. Certain account transactions under the Plan, such as line of credit advances or credit card transactions, are also subject to additional terms described later in this Agreement that may vary from the general Plan terms set out below. In this Agreement, the capitalized word “Loans” means extensions of credit under your Line of Credit and/or Card.

Plan Accounts. Prior to the Closing Date and thereafter (as applicable), Seller and Purchaser shall take any and all action as may be required, including, if necessary, amendments to the tax qualified defined contribution plan of Seller in which Transferred Employees participate (the “Seller 401(k) Plan”) and/or the tax qualified defined contribution plan of Purchaser (the “Purchaser 401(k) Plan”), to permit each Transferred Employee to make rollover contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code, excluding loans) in cash in an amount equal to the eligible rollover distribution portion of the account balance distributable to such Transferred Employee from the Seller 401(k) Plan to the Purchaser 401(k) Plan.

Plan Accounts. The Company shall maintain a Plan Account on its books in the name of each Participant. Whenever an amount is deducted from the Participant’s Compensation under the Plan, such amount shall be credited to the Participant’s Plan Account. Axxxxxx credited to Plan Accounts shall not be trust funds and may be commingled with the Company’s general assets and applied to general corporate purposes. No interest shall be credited to Plan Accounts.

Plan Accounts. Seller agrees that pursuant to ------------------------------------ Code Section 401(k)(2), the Acquisition will result in, and constitute, a distribution event for Transferred Employees who participate in the 401(k) plan(s) maintained by Seller or any ERISA Affiliate (the "401(k) Plan"). Seller further agrees that as soon as administratively feasible following the Closing Date, Transferred Employees who participate in the 401(k) Plan shall be provided the opportunity to take a distribution from the 401(k) Plan.

Plan Accounts. Transfer Contributions from another qualified defined contribution plan into this Plan will maintain their identity as Elective Deferrals, Matching Contributions, Voluntary Employee Contributions, Deductible Employee Contributions, Non-Elective Contributions, Qualified Non-Elective Contributions, Qualified Matching Contributions, Safe Harbor 401(k) Contributions, and Rollover Contributions in this Plan. Such Transfer Contributions will be accounted for separately in this Plan.

Plan Accounts. As soon as reasonably practicable following the Transfer Date, Purchaser shall cause a tax qualified defined contribution plan of Purchaser (the “Purchaser 401(k) Plan”), to accept rollover contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code, including loans) in cash and notes in the case of loans (and, for the avoidance of doubt, excluding any employer stock) in an amount equal to the eligible rollover distribution portion of the account balance distributable to such Transferred Employee from the tax qualified defined contribution plan of Seller subject to the terms and conditions of the Purchaser 401(k) Plan and Purchaser’s determination that such rollovers will not adversely affect the tax-qualified status of the Purchaser 401(k) Plan.

Plan Accounts. To the extent permitted by applicable law, the Purchaser shall use its best efforts to cause its defined contribution plan's trustee to accept rollovers of all of Xxxxxxxxx Oil 401(k) Profit Sharing Plan (the "Xxxxxxxxx Plan") participant accounts belonging to Acquired Employees.

Plan Accounts. Purchaser shall take any and all commercially reasonable actions as may be required to permit each Transferred Branch Employee who participates in a tax-qualified defined contribution retirement plan maintained by Seller or its Affiliate (“Seller Qualified Plan”) to make rollover contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code), in the form of cash, notes or a combination thereof, in an amount equal to the eligible rollover distribution portion of the account balance distributed to or distributable to such Transferred Branch Employee from the Seller Qualified Plan to the tax-qualified defined contribution retirement plan maintained by Purchaser or an Affiliate of Purchaser in which the Transferred Branch Employees are eligible to participate.

Plan Accounts. The following sections apply if the Client is, or is acting on behalf of: (i) a pension or other employee benefit plan (including a 401(k) plan) governed by Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or (ii) a tax- qualified retirement plan (including an individual retirement account or a Xxxxx plan) under Section 401(a) of the Code, and not covered by ERISA (collectively, a “Plan”). (a) If the Portfolio is subject to the provisions of ERISA, then: (i) The Adviser acknowledges that it is a “fiduciary” within the meaning of Section 3(21) of ERISA and Section 4975(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”) (but only with respect the investment management services provided to the Portfolio under this Agreement). (ii) The Adviser represents that it is registered as an investment adviser with the (i) the Securities and Exchange Commission or (ii) an applicable state authority in the state in which it maintains its principal office and place of business. (iii) The Client agrees to maintain appropriate ERISA bonding for the Portfolio and to include within the coverage of the bond the Adviser and its personnel to the extent required by law. (iv) The Client represents that engagement of the Adviser, and any instructions that have been given the Adviser with respect to the Portfolio, are consistent with applicable governing trust and other documents of the Plan. (v) The Client agrees to furnish the Adviser with copies of such governing trust and other documents upon request. (vi) The person signing this Agreement on behalf of the Client represents and warrants that such person is either: (A) the Plan’s trustee; or (B) a “named fiduciary” for the Client within the meaning of Section 402(a)(2) of ERISA. (vii) The Client represents that it has received all required disclosures under Section 408(b)(2) of ERISA and, on the basis of such disclosures, has made a fiduciary determination that the fees charged pursuant to this Agreement are reasonable compensation for services rendered. (viii) The Client represents that the Plan is in compliance with ERISA and the Code in form and operation in all material respects. (ix) The Client represents that the Plan will be operated in accordance with Section 404(c) of ERISA and the regulations thereunder under which Plan participants are deemed to be responsible for their investment decisions under the Plan. (b) The Client understands and agrees that the Adviser will ...

Plan Accounts. The Company shall maintain or cause to be maintained a book accounting record of the Participant's Plan Account, showing the amounts of Participant Deferrals and Company Matching