Formula Based Account definition

Formula Based Account which means a Participant’s interest in the Plan’s assets composed of Formula Based Contributions allocated on or after January 1, 2001 to the Participant under the Plan, the amount allocated under the Plan, as of January 1, 2001, if any (as identified by the Administrator), and an amount allocated from the ▇▇▇ Gen Ltd. Profit Sharing Plan, if any, which continues to be accounted for under the Plan (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.
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Formula Based Account which means a Participant's interest in --------------------- the Plan's assets composed of Formula Based Contributions allocated on or after January 1, 1998 to the Participant under the Plan and an amount transferred from the Participant's "Formula Based Account" in the Whitman Plan on January 1, 1998, if any (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.
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Formula Based Account which means a Participant's interest in the Plan's assets composed of Formula Based Contributions allocated on or after January 1, 1998 to the Participant under the Plan, the amount allocated under the Plan, as of January 1, 1998, if any (as identified by the Administrator), and an amount allocated from the Lou Gen Ltd. Profit Sharing Plan as of January 1, 1998, if any, which continues to be accounted for under the Plan (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.
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Examples of Formula Based Account in a sentence

  • A loan to a Participant shall be made solely from the assets of his or her following Accounts which are fully vested: Pre-Tax Account Catch-up Account Special Account Matching Account Formula Based Account Rollover Account Post-Tax Account.

  • When requesting a withdrawal, any withdrawal amount shall come only from his or her Accounts, to the extent vested, in the following priority order of Accounts: Post-Tax Account Rollover Account Formula Based Account Matching Account Catch-up Account Pre-Tax Account Special Account.

  • Participants will vest in their Matching and Formula Based Accounts (as applicable) 20% per year of Vesting Service; provided, however, that portion of the Formula Based Account which is attributable to assets merged into this Plan from the ▇▇▇ Gen Ltd.

  • Subject to the legal limit described in (c) below, the maximum a Participant may borrow, including the outstanding balance of existing Plan loans, is fifty percent (50%) of his or her following Accounts which are fully vested: Pre-Tax Account Catch-up Account Special Account Matching Account Formula Based Account Rollover Account Post-Tax Account.

  • The remaining withdrawal amount shall come only from his or her Accounts, to the extent vested, in the following priority order of Accounts: Post-Tax Account Rollover Account Formula Based Account Matching Account Catch-up Account Pre-Tax Account Special Account The amount that may be withdrawn from a Participant’s Pre-Tax Account shall not include earnings and Special Contributions posted to his or her Pre-Tax Account after the end of the Plan Year which ends before July 1, 1989.

Related to Formula Based 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.

  • Eligible Unbilled Accounts means Accounts of the Obligors that does not qualify as an Eligible Account solely because (a) the goods giving rise to such Account have not been shipped and billed to the Account Debtor, or (b) the services giving rise to such Account have not been performed and billed to the Account Debtor and, in either case, so long as such Accounts have not been unbilled for more than thirty (30) days. For the avoidance of doubt, at such time as an Account is billed to the Account Debtor it shall no longer be an “Eligible Unbilled Account”.

  • Covered Account means an Account established by a financial intermediary for another as the owner of record on the Fund Registry and through which such owner of record has the ability to conduct transactions in Fund shares directly with and through BNYM.

  • Qualified Account means either (a) a segregated account (including a securities account) with a Qualified Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Note Rating Agency in one of its generic rating categories which signifies investment grade.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, Performance Guarantor, Servicer, Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.