SPECIAL RETENTION ACCOUNT PROGRAM Sample Clauses

SPECIAL RETENTION ACCOUNT PROGRAM. Pursuant to your January 26, 2001, employment agreement with Verizon (the "Prior Agreement"), the Company established a Special Retention Account on your behalf under the GTE Executive Salary Deferral Plan, which was subsequently transferred to the Verizon Income Deferral Plan. You shall also be eligible for such other benefits as are provided under the Verizon Income Deferral Plan to employees with Special Retention Accounts. A copy of the applicable provisions of the Verizon Income Deferral Plan relating to the Special Retention Account is attached hereto as Exhibit A, which is incorporated herein by reference. Your rights to the balance in your Special Retention Account following the termination of your employment shall be governed by the applicable provisions of the Verizon Income Deferral Plan, rather than by the terms of paragraphs 11 ("Termination of Employment") and 12 ("Release").
Sample 1
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SPECIAL RETENTION ACCOUNT PROGRAM. Pursuant to a prior agreement with Verizon, the Company established a Special Retention Account on your behalf under the Xxxx Atlantic Income Deferral Plan, which was subsequently amended, restated, and renamed as the Verizon Income Deferral Plan. You shall also be eligible for such other benefits as are provided under the Verizon Income Deferral Plan to employees with Special Retention Accounts. A copy of the applicable provisions of the Verizon Income Deferral Plan relating to the Special Retention Account is attached hereto as Exhibit A, which is incorporated herein by reference. Your rights to the balance in your Special Retention Account following the termination of your employment shall be governed by the applicable provisions of the Verizon Income Deferral Plan, rather than by the terms of paragraphs 12 (“Termination of Employment”) and 13 (“Release”).
Sample 1
SPECIAL RETENTION ACCOUNT PROGRAM. Pursuant to the Prior Agreement, the Company established a Special Retention Account on your behalf under the GTE Executive Salary Deferral Plan, which was subsequently transferred to the IDP. As of the effective date of this Agreement, you are entitled to the entire balance in your Special Retention Account and it shall not be subject to offset or forfeiture. Your rights to the balance in your Special Retention Account following your termination of employment or otherwise shall be governed by the provisions of the IDP that apply to your "Employee Balance" (as that term is defined in Section 2.01(p) of the IDP) in the IDP, except that you shall not be entitled to receive payments of your Special Retention Account until after your separation from service from the Company (for any reason) and provided that upon your voluntary termination of employment with the Company (including your retirement) you have given the CEO at least 30 calendar days' (exclusive of vacation days) advanced written notice of your intent to terminate employment with the Company. Your rights to the balance in your Special Retention Account following the termination of your employment shall not be governed by the terms of paragraphs 11 ("Termination of Employment") and 12 ("Release"), the terms of the IDP applicable to other employees with Special Retention Accounts, or the terms of Exhibit C to the Prior Agreement.
Sample 1
SPECIAL RETENTION ACCOUNT PROGRAM. By executing this Agreement, you waive all of your rights under your Executive Severance Agreement with GTE Service Corporation, dated June 4, 1998 (the "ESA"). In lieu of the benefits previously provided to you under your ESA, the Company shall establish a Special Retention Account on your behalf under the GTE Executive Salary Deferral Plan. The balance in your Special Retention Account as of July 1, 2000 is $894,667. You shall also be eligible for such other benefits as are provided under the GTE Executive Salary Deferral Plan to employees with Special Retention Accounts. A copy of the applicable provisions of the GTE Executive Salary Deferral Plan relating to the Special Retention Account is attached hereto as Exhibit C, which is incorporated herein by reference. Your rights to the balance in your Special Retention Account following the termination of your employment shall be governed by the applicable provisions of the GTE Executive Salary Deferral Plan, rather than by the terms of paragraphs 13 ("Termination of Employment") and 14 ("Release").
Sample 1
SPECIAL RETENTION ACCOUNT PROGRAM. By executing this Agreement, you waive all of your rights under your Executive Severance Agreement with GTE Service Corporation, dated June 4, 1998 (the "ESA"). In lieu of the benefits previously provided to you under your ESA, the Company shall establish a Special Retention Account on your behalf under the ESDP. The balance in your Special Retention Account as of July 1, 2000, is $3,600,000. You shall also be eligible for such other benefits as are provided under the terms of the ESDP to employees with Special Retention Accounts, as such terms are modified by this paragraph 11. A copy of the applicable provisions of the ESDP relating to the Special Retention Account is attached hereto as Exhibit C, which is incorporated herein by reference. Your rights to the balance in your Special Retention Account following the termination of your employment shall be governed by the applicable provisions of the ESDP, rather than by the terms of paragraphs 13 ("Termination of Employment") and 14 ("Release"). Notwithstanding the preceding provisions of this paragraph 11 and the provisions of Exhibit C, however,
Sample 1
SPECIAL RETENTION ACCOUNT PROGRAM. By executing this Agreement, you waive all of your rights under your Executive Severance Agreement with GTE Service Corporation, dated June 4, 1998 (the "ESA"). In lieu of the benefits Mr. Xxxxxxxx X. Xxxxxxx October 3, 2000 Page 6 previously provided to you under your ESA, the Company shall establish a Special Retention Account on your behalf under the GTE Executive Salary Deferral Plan. The balance in your Special Retention Account as of July 1, 2000, is $1,468,352. You shall also be eligible for such other benefits as are provided under the GTE Executive Salary Deferral Plan to employees with Special Retention Accounts. A copy of the applicable provisions of the GTE Executive Salary Deferral Plan relating to the Special Retention Account is attached hereto as Exhibit C, which is incorporated herein by reference. Your rights to the balance in your Special Retention Account following the termination of your employment shall be governed by the applicable provisions of the GTE Executive Salary Deferral Plan, rather than by the terms of paragraphs 13 ("Termination of Employment") and 14 ("Release").
Sample 1
SPECIAL RETENTION ACCOUNT PROGRAM. By executing this Agreement, you waive all of your rights under your Executive Severance Agreement with GTE Service Corporation, dated June 4, 1998 (the "ESA"). In lieu of the benefits previously provided to you under your ESA, the Company shall establish a Special Retention Account on your behalf under the GTE Executive Salary Deferral Plan. The balance in your Special Retention Account as of January 1, 2000, is $896,800, and effective beginning January 1, 2000, your Special Retention Account shall be credited with interest at the Moodx'x Xxxe (as defined by the GTE Executive Salary Deferral Plan or any successor thereto). You shall also be eligible for such other benefits as are provided under the GTE Executive Salary Deferral Plan to employees with Special Retention Accounts. A copy of the applicable provisions of the GTE Executive Salary Deferral Plan relating to the Special Retention Account is attached hereto as Exhibit C, which is incorporated herein by reference. Your rights to the balance in your Special Retention Account following the termination of your employment shall be governed by the applicable provisions of the GTE Executive Salary Deferral Plan, rather than by the terms of paragraphs 13 ("Termination of Employment") and 14 ("Release").
Sample 1
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Related to SPECIAL RETENTION ACCOUNT PROGRAM

  • Retention Account credits and withdrawals

  • Concentration Account Concentration Account" has the meaning set forth in Section 2.3.

  • Establishment of a Lockbox Account, Dominion Account All proceeds of Collateral shall be deposited by Borrower into either (i) a lockbox account, dominion account or such other “blocked account” (“Blocked Accounts”) established at a bank or banks (each such bank, a “Blocked Account Bank”) pursuant to an arrangement with such Blocked Account Bank as may be selected by Borrower and be acceptable to Agent or (ii) depository accounts (“Depository Accounts”) established at Agent for the deposit of such proceeds. Borrower, Agent and each Blocked Account Bank shall enter into a deposit account control agreement in form and substance satisfactory to Agent directing such Blocked Account Bank, upon notice from Agent, to transfer such funds so deposited to Agent, either to any account maintained by Agent at said Blocked Account Bank or by wire transfer to appropriate account(s) of Agent. All funds deposited in such Blocked Accounts shall immediately become the property of Agent and Borrower shall obtain the agreement by such Blocked Account Bank to waive any offset rights against the funds so deposited. Neither Agent nor any Lender assumes any responsibility for such blocked account arrangement, including any claim of accord and satisfaction or release with respect to deposits accepted by any Blocked Account Bank thereunder. All deposit accounts and investment accounts of Borrower are set forth on Schedule 4.15(g). Notwithstanding anything to the contrary set forth in this Section 4.15(g), Borrower shall be permitted to deposit checks or other payments received at Borrower’s locations in the Ordinary Course of Business in deposit accounts which may not be subject to a blocked account or similar agreements; provided that, at no time shall Borrower have more than $50,000 in the aggregate in all such accounts which are not Blocked Accounts or Depository Accounts.

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Collection Account and Distribution Account (a) On behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, one or more accounts (each such account or accounts, a “Collection Account”), held in trust for the benefit of the Trustee and the Certificateholders. On behalf of the Trust Fund, the Servicer shall deposit or cause to be deposited in the related clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Servicer’s receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the deposit of good funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal or interest on the Mortgage Loans due on or before the related Cut-off Date, or payments (other than Principal Prepayments) received by it on or prior to the related Cut-off Date but allocable to a Due Period subsequent thereto):

  • Establishment of Custodial Accounts; Deposits in Custodial Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts. The creation of any Custodial Account shall be evidenced by a Custodial Account Letter Agreement in the form of Exhibit 7. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received by it subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date:

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Omnibus Account The parties agree that, with respect to each Fund, a single omnibus account held in the name of the Nominee shall be maintained for those Plan assets directed for investment directly in the Fund, and a single omnibus account held in the name of ING Life shall be maintained for those Plan assets directed for investment in the Fund through the Contracts (collectively, the "Accounts.") ING Life as issuer of the Contracts or as service agent for the Plans, shall facilitate purchase and sale transactions with respect to the Accounts in accordance with the Agreement.

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

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