Ineligible Participant means any Person that is engaged in automotive vehicle manufacturing, automotive vehicle distribution, automotive vehicle parts manufacturing or automotive vehicle parts distribution and is a direct competitor of the Company or any of its Subsidiaries or any captive finance company controlled by such Person. For purposes of determining if a Person is an Ineligible Participant, an institutional investor which is a passive investor in the financing of equipment or facilities used in automotive vehicle manufacturing, automotive vehicle distribution, automotive vehicle parts manufacturing or automotive vehicle parts distribution shall not, solely by reason of such investment, be deemed to be engaged in such businesses.
Ineligible Participant. Persons identified by the U.S. Borrower to the Administrative Agent and the Lenders from time-to-time as Persons to whom no Participation may be sold pursuant to Section 11.7 for competitive reasons, and as to which the Administrative Agent has consented to the designation of such Person as an Ineligible Participant.
Ineligible Participant means any Participant who (i) has not completed at least one thousand (1,000) Hours of Service with the Participating Companies during the Plan Year, (ii) was not employed by a Participating Company or an Affiliated Company on the last day of the Plan Year, or (iii) did not elect, pursuant to Paragraph A of Section Six, to reduce his Compensation.
Examples of Ineligible Participant in a sentence
An Ineligible Participant or former Participant shall automatically become an active Participant on the date he or she again becomes an Eligible Employee.
An Ineligible Participant or former Participant shall automatically become an active Participant on the date he again becomes an Eligible Employee.
A Participant may not make or share in Plan Contributions during the period he or she is Ineligible, nor generally be eligible for a new Plan loan, except if such Ineligible Participant is an Employee, but he or she shall continue to participate for all other purposes.
In such event, the amount contributed with respect to the Ineligible Participant shall constitute a forfeiture for the Plan Year in which the discovery is made.
Ineligible Participant ............................................
More Definitions of Ineligible Participant
Ineligible Participant. The Plan status of a Participant who is (1) an Employee of a Related Company which is not then an Employer, or (2) an Employee of an Employer, but not an Eligible Employee.
Ineligible Participant means any Person that is engaged in automotive vehicle manufacturing, automotive vehicle distribution, automotive vehicle parts manufacturing or automotive vehicle parts distribution and is a direct competitor of the Parent, the Company or any of their respective Subsidiaries or any captive finance company controlled by such Person. For purposes of determining if a Person is an Ineligible Participant, an institutional investor which is a passive investor in the financing of equipment or facilities used in automotive vehicle manufacturing, automotive vehicle distribution, automotive vehicle parts manufacturing or automotive vehicle parts distribution shall not, solely by reason of such investment, be deemed to be engaged in such businesses.
Ineligible Participant means any Person that shall have filed an election to be regulated as a “business development company” under the Investment Company Act and that such filing is publicly available.
Ineligible Participant means a Participant who no longer satisfies any SEPP eligibility criterion or is designated by the Committee as no longer being eligible to be a Participant.
Ineligible Participant. Persons identified by the U.S. Borrower to the Administrative Agent and the Lenders from time-to-time as Persons to whom no Participation may be sold pursuant to Section 11.7 for competitive reasons, and as to which the Administrative Agent has consented to the designation of such Person as an Ineligible Participant. “Insolvency”: with respect to any Multiemployer Plan, the condition that such plan is insolvent within the meaning of Section 4245 of ERISA. “Insolvency Laws”: each of the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada), and the Winding-Up and Restructuring Act (Canada), each as now and hereafter in effect, any successors to such statutes and any other applicable insolvency or other similar law of any jurisdiction, including any corporate law of any jurisdiction permitting a debtor to obtain a stay or a compromise of the claims of its creditors against it. “Insolvent”: pertaining to a condition of Insolvency. “Intellectual Property”: as defined in Section 5.9. “Intercompany Subordinated Indebtedness”: with respect to any Loan Party, Indebtedness owed by such Loan Party to the MLP or any Subsidiary that is subject to a subordination agreement substantially in the form of Exhibit H-1. “Interest Payment Date”: (a) with respect to any Base Rate Loan or Prime Rate Loan (including, for the avoidance of doubt, any Swing Line Loan), (i) prior to the Dollar Working Capital Facility Committed Tranche Maturity Date, the Dollar Working Capital Facility Uncommitted Tranche Maturity Date, the Multicurrency Working Capital Facility Maturity Date or the Acquisition Facility Maturity Date, as applicable, the first Business Day of each month and (ii) the Dollar Working Capital Facility Committed Tranche Maturity Date, Dollar Working Capital Facility Uncommitted Tranche Maturity Date, the Multicurrency Working Capital Facility Maturity Date or the Acquisition Facility Maturity Date, as applicable, and (b) with respect to any CDOR Loan or Term SOFR Loan, the last day of each Interest Period with respect thereto and, with respect to any Term SOFR Loan having an Interest Period of six (6) months, the last day of such Interest Period and the date which is three (3) months after the start of such Interest Period and the last day of such Interest Period. “Interest Period”: (a) with respect to any Term SOFR Loan: (i) initially, the period commencing on the Borrowing Date or Conversion date, as the case may be, with respect to s...
Ineligible Participant means any Person that is engaged in automotive vehicle manufacturing, automotive vehicle distribution, automotive vehicle parts manufacturing or automotive vehicle parts distribution and is a direct competitor of the Company or any of its Subsidiaries or any captive finance company controlled by such Person. For purposes of determining if a Person is an Ineligible Participant, an institutional investor which is a passive investor in the financing of equipment or facilities used in automotive vehicle manufacturing, automotive vehicle distribution, automotive vehicle 509265-1725-14038-Active.16362140 parts manufacturing or automotive vehicle parts distribution shall not, solely by reason of such investment, be deemed to be engaged in such businesses.
Ineligible Participant means, for purposes of allocating Section 1042 Employer Stock, (a) a Participant who is a more than twenty-five percent (25%) owner (or a Participant who is treated under Code Section 409(n) as a more than twenty-five percent (25%) owner) of any class of outstanding stock of Giant Industries, Inc. (or prior to December 21, 1989, of Giant Industries Arizona, Inc.) or of the total value of any class of outstanding stock of Giant Industries, Inc. (or prior to December 21, 1989, of Giant Industries Arizona, Inc.) whether he has elected nonrecognition of gain under Section 1042 of the Code or not, or (b) a Participant (or a Participant who is related within the meaning of Code Section 409(n) to a Participant) who has elected nonrecognition of gain under Section 1042 of the Code in connection with the sale of Employer Stock to the Plan. A Participant who is described in Section 1.27(b) but not in Section 1.27(a) shall be an "Ineligible Participant" only for the period beginning on the date on which the Employee Stock for which he elected Code Section 1042 treatment was sold to the Plan and ending on the later of (1) the date which is ten (10) years after the date of such sale or (2) the date on which any allocation under the Plan is made which is attributable to the final payment of any indebtedness incurred by the Plan in connection with such sale.