Benefit Account definition

Benefit Account means an account kept under regulation 66(1);

Benefit Account means the account(s) maintained on the books of the Company for each Participant pursuant to Section 5.01 hereof.

Benefit Account means the account(s) maintained on the books of the Bank for each Participant pursuant to Article III hereof. The Administrative Committee shall establish the subaccounts necessary to account for Stated Deferrals on a class year basis.

Examples of Benefit Account in a sentence

• On the Closing Date, the Issuer shall deposit the Borrower Benefit Account Initial Deposit, if any, into the Borrower Benefit Account.

• On each date when the Issuer receives a prepayment of such amounts, it shall deposit such amounts into the Borrower Benefit Account, and such amounts shall be included in Available Funds on the next Distribution Date to the extent there is a deficiency caused by a realized Borrower Benefit Yield Reduction for the related Collection Period.

• The annual Contributions (or Phantom Contributions) required to be made by the Bank to the Retirement Income Trust Fund (or recorded by the Bank in the Accrued Benefit Account) have been actuarially determined and are set forth in Exhibit A which is attached hereto and incorporated herein by reference.

• The Administrator will not instruct the Indenture Trustee to withdraw Investment Earnings, if any, on deposit in the Borrower Benefit Account until amounts are to be withdrawn from that account pursuant to Section 2.10(f) of this Administration Agreement.

• The Administrator will instruct the Indenture Trustee to (1) withdraw all Investment Earnings, if any, on deposit in each existing Trust Account (other than the Borrower Benefit Account) on each Distribution Date; (2) deposit such amounts into the Collection Account and (3) include such amounts as Available Funds for that Distribution Date.

More Definitions of Benefit Account

Benefit Account means the account maintained on the books of the Bank for each Participant pursuant to Article IV hereof.

Benefit Account means the account maintained on the books of account of the Company for Participant with respect to Deferred Amounts. The Participant’s Deferred Benefit Account shall be utilized solely as a device for the measurement and determination of the amounts to be paid to the Participant pursuant to this Plan. Upon the Disability of the Participant, the amount then deposited in the Deferred Benefit Account, as opposed to the Deferral Benefit, shall be paid to the Participant pursuant to Section 1.3 hereof.

Benefit Account means the bank account(s) used for payment of all benefit claims and collections of related overpayments.

Benefit Account means the assets of the Trust Fund which are allocated to a checking account for payment of benefits in accordance with the terms and conditions of the Plan to be disbursed by the Administrative Committee or its Representative;

Benefit Account means each of the individual accounts established pursuant to Section 4.3. A Benefit Account is maintained on the books of the Company in the name of each Participant to record contributions allocated to and Benefits paid on behalf of a Participant.

Benefit Account means the bookkeeping account established and maintained for a Participant as provided in Section 4(c) hereof.

Benefit Account means the total value of a Covered Employee’s account expressed in dollars and cents and is the accumulation of Employer contributions, interest earned and credited forfeitures, if any, less administrative expenses, and which consists of the various accounts and sub- accounts described herein.