Financial Hardship means a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant’s spouse, or a dependent (as defined in Code Section 152, without regard to Code Section 152(b)(1), (b)(2), and (d)(1)(B))) of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, but shall in all events correspond to the meaning of the term “unforeseeable emergency” under Code Section 409A.
Financial Hardship means a situation where:
Financial Hardship means a state of more than immediate financial disadvantage which results in a residential customer being unable to pay an outstanding amount as required by a retailer without affecting the ability to meet the basic living needs of the residential customer or a dependant of the residential customer.
Examples of Financial Hardship in a sentence
If You are not assessed by Us as experiencing Financial Hardship, We will offer You a choice of a Payment Plan or additional time to pay for that Bill.
We will not commence proceedings for recovery of a debt if You have informed Us that You are experiencing payment problems and We have not complied with Our obligations under the Customer Service Code and this Contract to assess whether You are experiencing Financial Hardship.
If You are assessed by Us as experiencing Financial Hardship there are additional restrictions on Us for commencing proceedings for the recovery of a debt from You.
We may also shorten Your billing cycle if We have given you a Reminder Notice for 3 consecutive Bills and We comply with the procedure in the Customer Service Code unless We consider You are experiencing Financial Hardship.
We will, within 5 Business Days, assess whether You are experiencing Financial Hardship and on request We must advise You of the outcome and reasons for the outcome of the assessment.
More Definitions of Financial Hardship
Financial Hardship means severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent (as defined in Section 152(a) of the Code) of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that will constitute a Financial Hardship will depend upon the facts of each case, but in any case, payment may not be made to the extent that such hardship is or may be relieved:
Financial Hardship means a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of the Participant's dependent [as defined in Code Section 152(a)], loss of the Participant's property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. Financial Hardship shall be determined by the Plan Administrator on the basis of the facts of each case, including information supplied by the Participant in accordance with uniform guidelines prescribed from time to time by the Plan Administrator; provided, the Participant will be deemed not to have a Financial Hardship to the extent that such hardship is or may be relieved:
Financial Hardship means (a) a severe financial hardship to the Director resulting from a sudden and unexpected illness or accident of the Director or of a dependent (as defined in Code Section 152(a)) of the Director, (b) loss of the Director's property due to casualty, or (c) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Director, each as determined to exist by the Board of Directors of the Company.
Financial Hardship means (a) a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent (as defined in Code section 152(a)) of the Participant, (b) loss of the Participant's property due to casualty, or (c) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, each as determined to exist by the Employer. A distribution may be made under this Section only with the consent of the Employer.
Financial Hardship means a living consumer who has a total value in liquid assets below $6,500; or the consumer’s estate proving otherwise inadequate to obtain or provide for physical or mental care or treatment, assistance, education, training, sustenance, housing, or other goods or services vital to the well-being of the consumer or the consumer’s dependents.
Financial Hardship means an immediate and significant financial hardship experienced by an applicant, leaving the applicant without the financial means to pay his or her utility fees. For a financial hardship to exist, an applicant must show that:
Financial Hardship means that the community served by the POTW meets one of the following criteria: