Further, deferral of more than 20 consecutive quarterly interest payments on the junior subordinated debentures would constitute a default, giving the trustee or holders of the junior subordinated debentures the right to declare the principal amount due and payable immediately.
Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.
Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.
Deferral means the amount or amounts of a Participant’s Compensation deferred under the provisions of Section 3.
Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.
Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.