ESOP Suspense Account definition

ESOP Suspense Account means that portion of the Trust Fund containing Stock that secures the repayment of an Exempt Loan.
Sample 1Sample 2
ESOP Suspense Account means the account established under Section 5.3 hereof to hold Stock purchased with the proceeds of an Exempt Loan pending the allocation of such Stock to individual ESOP accounts. A separate ESOP Suspense Account may be established with respect to each Exempt Loan made to the Plan and the provisions of this Plan may be applied, at the direction of the Committee, separately with respect to each ESOP Suspense Account or by combining such separate ESOP Suspense Accounts.
Sample 1Sample 2
ESOP Suspense Account means the account under which ESOP Stock purchased with an ESOP Loan is held until released and allocated to Participants pursuant to Article VI.
Sample 1

Examples of ESOP Suspense Account in a sentence

  • Smucker Company (the "Company") allocated to my account under the Plan ("Allocated Shares"), a portion of those unallocated shares held in the ESOP Suspense Account ("Unallocated Shares"), as well as a portion of all non-directed shares ("Non-directed Shares") as determined in accordance with the terms of the Plan, as of the record date for the Annual Meeting of Shareholders of the Company to be held on August 15, 2000.

  • Stock acquired with the proceeds of an Exempt Loan that is allocated to Participants' Company Contributions Accounts shall be subject to the voting rights described in Section 10.7. Stock acquired with the proceeds of an Exempt Loan that has been allocated to the ESOP Suspense Account, or for any other reason has not been allocated to Participants' accounts shall be voted by the Trustee in accordance with the written direction of the Plan Administrator.

  • Coverage, we will pay for the expense of returning a stolen covered "auto" to you.

  • Profit Sharing Contributions and allocations from the leveraged ESOP Suspense Account pursuant to Section 6.3(a) which such a Participant would have received if his Leased Employee service had been considered from his date of hire shall be credited to the former Leased Employees' Accounts as of the first Valuation Date next following the Leased Employee's actual Entry Date.

  • The Trustee shall be required to vote all shares of Chevron Stock held in the Leveraged ESOP Suspense Account in the same proportion as those shares for which the Trustee received instructions from Members with respect to the voting of allocated shares as provided under Section 18.4.

  • In addition T to voting your Allocated Shares you may also use this card to vote I unallocated shares held in the ESOP Suspense Account ("Unallocated O Shares") and non-directed shares as determined in accordance with the N terms of the Plan ("Non-directed Shares").

  • All assets acquired by the Plan with the proceeds of an ESOP Loan shall be added to and maintained in the ESOP Suspense Account.

  • Any distribution of Trust Fund assets other than those held in the ESOP Suspense Account after partial termination of the Plan, may be made at any time and from time to time in whole or in part to the extent that no discrimination in value results, in cash, in securities or other assets in kind, as the Trustee may determine.

  • The shares of Stock thereby released from the ESOP Suspense Account under Sections 11.1(f) and 11.3 shall be allocated among the Participant's Company Contributions Accounts as specified in Section 4.4.

  • Dividends (other than dividends in the form of Stock) received on Stock held in the ESOP Suspense Account shall be used to make payments on any outstanding Exempt Loans.


More Definitions of ESOP Suspense Account

ESOP Suspense Account means the account described in section 10.3(d).
Sample 1
ESOP Suspense Account means a separate account reflecting Company Stock acquired with the proceeds of an Exempt Loan and not released from such account.
Sample 1

Related to ESOP Suspense Account

  • Suspense Account means the account established by the Trustee for maintaining contributions and forfeitures which have not yet been allocated to Participants.

  • 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.

  • Expense Account The account established and maintained pursuant to Section 3.25.

  • 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.

  • 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.

  • 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.

  • 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.

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

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

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

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

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

  • 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.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

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

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

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

  • Unallocated Account means the portion of the Trust to which Employer Contributions are made during the Plan Year, in which shares of Company Stock will be held prior to allocation to Participant Accounts, to which dividends paid on such shares of Company Stock will be paid, and from which will be paid expenses of the Plan and Under-Payment Expenses as defined in Section 3.5.

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

  • Lower-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier REMIC.

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

  • Upper-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier REMIC.