De Minimis Account definition

De Minimis Account means an inactive plan account that does not exceed the amount allowed by the Internal Revenue Code.
Sample 1Sample 2Sample 3
De Minimis Account or "de minimis amount" means an inactive, retired, retired for disability, suspended, or deceased member's ASA account whereby no regular and continuing contributions are being received and the account has a balance of which the value is less than the actual cost of making a distribution of the balance to the member or the member's beneficiary.
Sample 1Sample 2Sample 3
De Minimis Account means an account of an Issuer Subsidiary established for local tax or other regulatory or legal reasons to hold a de minimis amount of funds.
Sample 1Sample 2Sample 3

Examples of De Minimis Account in a sentence

  • Prior to the deposit of any cash into any Deposit Account (other than into any De Minimis Account or any Trust Fund Account) not already subject to an Account Control Agreement, Company shall enter into an Account Control Agreement with respect to such Deposit Account.

  • As of the Closing Date, the Collateral Account held at the Bank of New York Mellon is the only securities account in the name of Borrower and there is no deposit account in the name of Borrower, in each case other than any Excluded Account or De Minimis Account.

  • Without limiting the foregoing, such Grantor will, with respect to any such Pledged Equity held with a securities intermediary, cause such securities intermediary to enter into a Securities Account Control Agreement unless such Pledged Equity is held in a De Minimis Account.

  • Each Grantor agrees that any De Minimis Account under clause (c) of the definition of De Minimis Account shall only be used to facilitate or settle the payment of drafts presented by sellers or lessors of Mineral Interests and shall not contain any funds for any other purpose.

  • For each Deposit Account, Securities Account or Commodity Account (other than any Excluded Deposit Account or De Minimis Account) opened after the Effective Date, such Grantor will provide a Deposit Account Control Agreement, a Securities Account Control Agreement or a Commodity Account Control Agreement, as applicable, substantially contemporaneously with the opening of such Deposit Account, Securities Account or Commodity Account.


More Definitions of De Minimis Account

De Minimis Account means an account containing
Sample 1Sample 2
De Minimis Account has the meaning assigned to that term in subsection 5.17.
Sample 1Sample 2
De Minimis Account is defined in Section 6.6(b)(vi).
Sample 1Sample 2
De Minimis Account means an account of an Issuer Subsidiary established for local tax or other regulatory or legal reasons to hold a de minimis amount of funds. “Debt Collateral” means the following: (i) the Pledged Debt and all instruments evidencing the Pledged Debt, and all interest, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Debt after the Closing Date; and (ii) all additional indebtedness from time to time owed to each Grantor by any Issuer Subsidiary and the certificates and/or instruments evidencing such indebtedness, and all interest, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such indebtedness. “Delivery Date” has the meaning set forth in the Asset Purchase Agreement. 59 “Designated Address” means Global Corporate Trust, 000 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, XX 00000, Attention: Xxxx Xxxxxxxxx or such other location in the United States as may be notified in writing by the Security Trustee to the Issuer and the Trustee from time to time. “Excluded Payments” means payments in respect of (i) indemnities (including interest thereon, if applicable) payable (directly or indirectly) by a Lessee to an indemnitee (other than to a Grantor for its own account) pursuant to a Lease and (ii) proceeds of public liability insurance in respect of the Assets payable, directly or indirectly, as a result of insurance claims paid, or losses suffered, by a Person (other than a Grantor for its own account) and including, for the avoidance of doubt, the Lessee. “FAA Security Documents” means, collectively, each Asset Mortgage, each Asset Mortgage and Lease Security Assignment and each Lease Security Assignment. “French Security” has the meaning specified in Section 7.08. “Government Security” means any security that is issued or guaranteed by the United States of America or an agency or instrumentality thereof and that is maintained in book-entry on the records of the Federal Reserve Bank of New York and is subject to the Book-Entry Rules. “Grantors” has the meaning specified in the recital of parties to this Agreement. “Grantor Supplement” means a supplement to this Agreement in substantially the form attached hereto as Exhibit A-3 executed and delivered by an Issuer Subsidiary. “Hedge Agreements” means any interest rate or currency swap, cap, floor, Swaption, or other int...
Sample 1

Related to De Minimis Account

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Active Account means an individual investment account in the Plan with a balance greater than $0.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Inactive Account means a trader’s Account which had Client-Initiated activity and subsequently it remained inactive for a period of 90 days.

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Seller’s Account means such account as the Seller may specify to the Guarantor from time to time;

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • JetBrains Account or “JBA” means an account at xxxxx://xxxxxxx.xxxxxxxxx.xxx created by Customer, having a unique name and password, and through which Customer has access to Products in accordance with a Toolbox Subscription.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Investment Account As defined in Section 3.12(a).

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Separate Accounts means the accounts which are to be prepared for each

  • Retained asset account means any mechanism whereby the settlement of proceeds payable under a policy or contract is accomplished by the insurer or an entity acting on behalf of the insurer depositing the proceeds into an account with check or draft writing privileges, where those proceeds are retained by the insurer or its agent, pursuant to a supplementary contract not involving annuity benefits other than death benefits.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

  • Transferred Account means each account into which an Account is transferred, provided that (i) such transfer is made in accordance with the Credit Card Guidelines and (ii) such account can be traced or identified as an account into which an Account has been transferred.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.