Restrictions on withdrawal. Despite any term to the contrary in relation to any deposit or credit balance at any time on any account of the Borrower with any of the Finance Parties, no such deposit or balance shall be repayable or capable of being assigned, mortgaged, charged or otherwise disposed of or dealt with by the Borrower after an Event of Default has occurred and while such Event of Default is continuing unremedied or unwaived, but any Finance Party may from time to time permit the withdrawal of all or any part of any such deposit or balance without affecting the continued application of this Clause.
Restrictions on withdrawal. Your employees may not withdraw or transfer from their SEP-XXX any SEP contributions (or income on these contributions) attributable to elective deferrals made during a particular plan year until 2 1/2 months after the end of that plan year. If you choose to do so before this 2 1/2 month period has expired, however, you may notify your employees when the deferral percentage limitation test has been completed for a particular plan year and that this withdrawal restriction is thus no longer applicable. In general, any transfer or distribution made before expiration of the applicable 2 1/2 month period (or notification, if sooner) will be includible in the employee's gross income and may also be subject to a ten percent penalty tax for early withdrawal. This restriction does not apply to an employee's excess elective deferrals.
Restrictions on withdrawal. Despite any term to the contrary in relation to any deposit or credit balance at any time on any account of the Borrower with any of the Finance Parties, no such deposit or balance shall be repayable or capable of being assigned, mortgaged, charged or otherwise disposed of or dealt with by the Borrower after an Event of Default has occurred and while such Event of Default is continuing, but any Finance Party may from time to time permit the withdrawal of all or any part of any such deposit or balance without affecting the continued application of this Clause.
Restrictions on withdrawal. Despite any term to the contrary in relation to any deposit or credit balance at any time on any account of the Borrower with the Agent or with any of the Banks, no such deposit or balance shall be repayable or capable of being assigned, mortgaged, charged or otherwise disposed of or dealt with by the Borrower during the Facility Period except in accordance with the Security Documents, but the Agent or any Bank may from time to time permit the withdrawal of all or any part of any such deposit or balance without affecting the continued application of this Clause.
Restrictions on withdrawal. Despite any term to the contrary in relation to any deposit or credit balance at any time on any account of the Borrower with any of the Lender Finance Parties, no such deposit or balance shall be repayable or capable of being assigned, mortgaged, charged or otherwise disposed of or dealt with by the Borrower in question after an Event of Default has occurred and while such Event of Default is continuing unremedied or unwaived, but any Lender Finance Party may from time to time permit the withdrawal of all or any part of any such deposit or balance without affecting the continued application of this clause. Provided always that this clause 11.3 shall not apply to the Distribution Account or any credit balance therein.
Restrictions on withdrawal. Subject to the Put Right of the Preferred Members, no Member shall have the right to withdraw from the Company as a Member or to terminate its or his Membership Interest.
Restrictions on withdrawal. Notwithstanding anything to the contrary contained herein or under the Act, except as set forth in Section 16.2, no Partners shall have the right to resign from the Partnership.
Restrictions on withdrawal. Except as otherwise expressly permitted in this Agreement, without the consent of the Manager, which may be withheld in its absolute discretion, a Member does not have the right to withdraw from the Company as a Member or terminate his or its Membership Interest. SECTION 9.
Restrictions on withdrawal. Without the consent of the Board, which consent may be granted or withheld in the absolute and unreviewable discretion of the Board, a Member does not have the right to withdraw from the Company as a Member or to terminate its limited liability company membership interest.
Restrictions on withdrawal. Elective Deferrals (exclusive of earnings thereon) can only be withdrawn upon the earlier of the date (1) a Participant incurs a Termination of Employment; (2) a Participant dies; (3) a Participant suffers a Disability; (4) an event described in Code §401(k)(10) occurs; (5) a Participant receives a hardship distribution if hardship distributions are permitted by the Employer under Section 5.17; and (6) a Participant reaches Age 59 1/2 if on or after such date a pre-retirement in-service withdrawal of Elective Deferrals is permitted by the Employer under Section 5.18.
