ESOP Cash Account definition

ESOP Cash Account means that portion of the ESOP Account consisting of all assets of the ESOP Account other than Stock.
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ESOP Cash Account means an account maintained on the books of the Plan for the purpose of recording any cash dividends (other than currently distributable dividends)
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ESOP Cash Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of the Trust Fund, other than Company Stock.
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Examples of ESOP Cash Account in a sentence

  • The amount so allocated to each Participants' ESOP Cash Account shall be distributed to such Participant as soon as administratively feasible following such allocation, but in no event later than ninety (90) days after the close of the Plan Year in which the dividend is paid.

  • The amount so credited to each Participants' ESOP Cash Account shall be distributed to the Participant as soon as administratively feasible, but in no event later than ninety (90) days after the close of the Plan Year in which the dividend is paid.

  • Upon the purchase of Company Stock with cash held in a Participant’s ESOP Cash Account, an appropriate number of shares of Company Stock shall be credited to the Participant’s ESOP Stock Account and the Participant’s ESOP Cash Account shall be charged by the amount of the cash used to purchase the Company Stock for the Participant’s ESOP Stock Account.

  • The Committee shall maintain the following ESOP Accounts in the name of each Participant: an ESOP Stock Account, a Profit Sharing Account, and an ESOP Cash Account.

  • As of each Valuation Date, any appreciation, depreciation, income, gains or losses in the fair market value of the Participants’ Profit Sharing Accounts (exclusive of Company Stock) shall be allocated among and credited to the Profit Sharing Accounts of Participants, pro rata, according to the balance of each ESOP Cash Account as of the immediately preceding Valuation Date, reduced in each case by the amount of any charge to said ESOP Cash Account since the next preceding Valuation Date.

  • A Participant’s ESOP Cash Account shall be distributed to or for the benefit of the Participant or, in the case of the Participant’s death, his Beneficiary in a lump sum payment.

  • The Participant must repay in a single lump sum to the Trustee, without interest, the amount of cash, and fair market value of other property, received from his ESOP Stock Account and ESOP Cash Account.

  • If a Participant does not have a nonforfeitable right to any of his ESOP Cash Account on his Termination Date, then he will be deemed cashed out of his ESOP Cash Account as of the Termination Date.

  • Dividends on Stock held in the Unallocated Stock Fund which are received by the Trustee in the form of cash shall be allocated to Participants' ESOP Cash Accounts (pro rata based on the Participant's ESOP Cash Account balance in relation to all Participants' ESOP Cash Account balances) and shall be applied as soon as practicable to payments of principal and interest under the Stock Obligation incurred with the purchase of the Stock.

  • Each ESOP Account (i.e., ESOP Stock Account and ESOP Cash Account) shall be adjusted as of each Valuation Date to reflect its pro rata share of the effect of income collected and accrued, realized and unrealized profits and losses and expenses of the ESOP portion of the Plan since the last Valuation Date.

Related to ESOP Cash Account

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

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Share Account A form of Deposit Account that each member is required to maintain to remain a member of BECU. We, us, our: BECU. You, your: Each person or entity, individually, and collectively, who opens, establishes, accesses, is named as an Account Holder or Authorized Signer or who applies for any Account.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

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

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

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

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Company Stock Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of the Trust Fund invested in Company Stock.

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • Income Account Distribution Date means the "Distribution Dates" set forth in the "Essential Information" in the Prospectus.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Umbrella Cash Account means (a) a cash account designated in a particular currency opened

  • Unit Account means a notional account opened and managed by Us for You, in which the Units are allocated following the receipt of the Premium from You and in which the Units are cancelled by Us for the purpose of paying the benefits or for recovering the applicable charges;