Xxxx Account. Individual or employee plan contributions made to certain plans on an after-tax basis. An IRA may be established as a Xxxx XXX under Section 408A, and 401(k), 403(b) and 457(b) plans may provide for Xxxx accounts. Contributions to a Xxxx XXX are limited based on the level of your modified adjusted gross income. Comparison of Plan Limits for Individual Contributions: IRA $6,500 $1,000 SIMPLE IRA $15,500 $3,500 401(k) $22,500 $7,500 SEP/401(a) (Employer contributions only) 403(b) [TSA] $22,500 $7,500 457(b) $22,500 $7,500 Dollar limits are for 2023 and subject to cost-of-living adjustments in future years. Employer-sponsored individual account plans (other than 457(b) plans) may provide for additional employer contributions not to exceed the lesser of $66,000 and 100% of an employee’s compensation for 2023. While no attempt is being made to discuss the Federal estate tax implications of the Contract, you should bear in mind that the value of an annuity contract owned by a decedent and payable to a beneficiary by virtue of surviving the decedent is included in the decedent’s gross estate. Depending on the terms of the annuity contract, the value of the annuity included in the gross estate may be the value of the lump sum payment payable to the designated beneficiary or the actuarial value of the payments to be received by the beneficiary. Consult an estate planning adviser for more information.
Xxxx Account. 1. The School Corporation agrees to contribute One Percent (1%) of the Teacher's step base salary for that school year to an individual account in a VEBA for each eligible Teacher.
2. The VEBA account will be vested at Twenty Percent (20%) per year of service with the School Corporation. The vested account may be used upon retirement or termination of employment for premiums on medical, dental or vision coverage, as well as other qualified medical expenses under Section 213 of the Internal Revenue Code. If a Teacher retires, dies, or otherwise terminates employment before satisfaction of the vesting requirements, the Teacher's VEBA plan account shall be forfeited. The forfeited amounts shall be used to reduce future School Corporation contributions.
Xxxx Account. (a) On or prior to the date hereof, the Indenture Trustee shall establish (and, at all times thereafter, the Indenture Trustee shall maintain) the Bond Account for the Bonds. The Bond Account shall consist solely of one or more Eligible Accounts established and maintained in the name of the Indenture Trustee (in such capacity) and, in each case, bearing a designation clearly indicating that such account and all funds deposited therein are held for the exclusive benefit of the Bondholders and, subject to the lien of this Indenture, the Issuer. The Indenture Trustee shall deposit or cause to be deposited in the Bond Account, upon receipt, (i) any and all payments and other collections received on or in respect of the Pledged Securities subsequent to the commencement of the initial Collection Period and (ii) any amounts required to be deposited by the Indenture Trustee in connection with losses incurred with respect to investments of funds held in the Bond Account. Except as provided in this Indenture, the Indenture Trustee, in accordance with the terms of this Indenture, shall have exclusive control and sole right of withdrawal with respect to the Bond Account. Funds in the Bond Account shall not be commingled with any other monies. All monies deposited from time to time in the Bond Account (including any securities or instruments in which such monies are invested) shall be held by and under the control of the Indenture Trustee in the Bond Account for the benefit of the Bondholders and the Issuer as herein provided; provided, however, that all income and gain, if any, from monies or investments on deposit in the Bond Account shall constitute additional compensation for the Indenture Trustee and shall be subject to withdrawal by it from time to time. Any losses resulting from or arising in connection with investments of funds in the Bond Account shall be for the account of the Indenture Trustee (who shall promptly deposit into the Bond Account the amount of any such losses).
(b) All of the funds on deposit in the Bond Account may be invested and reinvested by the Indenture Trustee in one or more Permitted Investments, subject to the following requirements:
(i) such Permitted Investments shall mature not later than one Business Day prior to the next Payment Date;
(ii) the securities purchased with the monies in the Bond Account shall be deemed to befunds deposited in the Bond Account;
(iii) each such Permitted Investment shall be made in the name of the Indent...
Xxxx Account. 1. The School Corporation agrees to contribute One Percent (1%) of the Teacher's step base salary for that school year to an individual account in a VEBA for each eligible Teacher. For the 2020-21 school year, the Corporation will make a one-time $375 contribution to the Teacher’s VEBA account, which will be deposited within 6 weeks of ratification.
2. The VEBA account will be vested at Twenty Percent (20%) per year of service with the School Corporation. The vested account may be used upon retirement or termination of employment for premiums on medical, dental or vision coverage, as well as other qualified medical expenses under Section 213 of the Internal Revenue Code. If a Teacher retires, dies, or otherwise terminates employment before satisfaction of the vesting requirements, the Teacher's VEBA plan account shall be forfeited. The forfeited amounts shall be used to reduce future School Corporation contributions.
Xxxx Account. The operating account (“Operating Account”) for this Joint Venture shall be established at Truist Bank. The Operating Account shall be established in the name of the Joint Venture. All payments due the Joint Venture for performance on work performed shall be deposited into the Operating Account, and all expenses incurred under the Contract shall be paid out from the Operating Account.
Xxxx Account. The partnership may select a bank for the purpose of opening a bank account. Funds in the bank account shall be withdrawn by checks signed by any partner designated by the partnership.
Xxxx Account. Employer Account Paragraph 9.4, 9.5 [Select one or both, if desired]
Xxxx Account o (E) After-tax Account. x (F) Rollover Account. o (G) Voluntary Deductible Account. Note if Options (C), (D), (E) (F) or (G) are selected the Employer must determine the application and comply with Federal Securities laws.
o (3) If Participants may make investment directions in the Employer Stock Fund then such directions shall be made in the following increments [Check one if Option 15(e)(2) is selected]:
o (1) In the regular 5% increments provided in the Plan but not in excess of ________%.
x (2) In 1 % [Insert percentage of less than 5%] increments but not in excess of 25 %.
o (3) In increments of the lesser of 5% or such percentage as the Administrator shall from time to time authorize but not in excess of ________%.
o (4) If Participants may make investment directions in the Employer Stock Fund, then the Effective Date of such directions shall be [Check one if Option 15(e)(2) is selected:
o (1) Annually effective as of the first day of each Plan Year.
o (2) Periodically effective as of the beginning of each Valuation Period.
o (3) Quarterly effective as of the first day of each quarter of Plan Year.
x (4) Daily
(f) Form of Payment Paragraph 17.6 The non-forfeitable Accrued Benefits of Participants invested in the Employer Stock Fund at the time of distribution shall be distributed in the following manner:
o (1) Account balances invested in the Employer Stock Fund shall be distributed in cash.
o (2) Account balances invested in the Employer Stock Fund shall be distributed in whole shares of Stock and cash in lieu of fractional shares. [This option may not selected if, under any circumstances, more than 90% of the Participant’s Accrued Benefit in the Fund may be invested in the Employer Stock Fund.]
o (3) Account balances invested in the Employer Stock Fund shall be distributed in cash and Stock in proportion to the cash and Stock considered pursuant to subparagraph 17.6(d) to be allocated to the Participant’s account in the Employer Stock Fund. [This option may not selected if, under any circumstances, more than 90% of the Participant’s Accrued Benefit in the Fund may be invested in the Employer Stock Fund.]
Xxxx Account. Administrative Agent shall maintain a loan account (the “Loan Account”) on its books to record Loans, the Letters of Credit issued or arranged by Xxxxxxx Xxxxxx for the Borrowers’ account, and other extensions of credit made by Lenders hereunder or under any other Credit Document, and all payments thereon made by the Borrowers. All entries in the Loan Account shall be made in accordance with Administrative Agent’s customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Administrative Agent’s most recent printout or other written statement, shall be conclusive and binding evidence of the amounts due and owing to Administrative Agent by the Borrowers absent clear and convincing evidence to the contrary; provided, that any failure to so record or any error in so recording shall not limit or otherwise affect the Borrowers’ duty to pay all amounts owing hereunder or under any other Credit Document; provided further, that in the event of any inconsistency between the Register and the Loan Account, the recordations in the Register shall govern. Unless the Administrative Borrower notifies Administrative Agent of any objection to any such printout or statement (specifically describing the basis for such objection) within thirty (30) days after the date of receipt thereof, it shall be deemed final, binding and conclusive upon the Borrowers in all respects as to all matters reflected therein. Notwithstanding anything to the contrary contained in any Security Document or in any other Credit Document, but subject to the terms of the Revolver Intercreditor Agreement, each Credit Party hereby acknowledges, confirms and agrees that, at any time during a Cash Dominion Period, Administrative Agent may, or at the direction of Required Lenders shall, cause each financial institution maintaining a Deposit Account that is the subject of a control agreement to remit all amounts held by such financial institution on behalf of the applicable Credit Party to the Payment Account or such other deposit account identified by Administrative Agent from time to time.
Xxxx Account a. Subject to the Bank’s sole discretion and minimum balance requirements the Bank may open a Call Account for the Customer. UAE - Terms and Conditions (19 Dec 2017)
b. The applicable interest rate on the Call Account shall be advised at the Bank’s branches and website. Interest shall be payable on the daily balance in the Customer’s Call Account. Interest will be computed monthly and credited semi-annually, or prior to that upon the withdrawal of the Call deposit. Interest rates, tiers, crediting cycles and other features of a Call Account are subject to change.
c. All Call Accounts are subject to the Bank’s prevailing minimum balance limits. If the balance falls below the minimum at any time during a month, the Bank shall have the right to close the Call Account and/or levy the Bank’s prevailing service charge.
d. The Customer shall not draw cheques on a Call Account.
x. Xx withdraw funds from the Customer’s Call Account, the Customer must give the Bank prior written notice or notify the Bank through electronic means acceptable to the Bank, in each case subject to an agreed number of days (subject to change by the Bank in its sole discretion) and such conditions or restrictions as the Bank may from time to time, in its sole discretion, determine.
f. If the Customer withdraws funds from the Customer’s Call Account without giving adequate prior notice (as set out in Clause 23B.e above), the Customer acknowledges that the Bank will withhold interest on the funds withdrawn for the agreed notice period.
