Kxxxx Account definition

Kxxxx Account means an account created by a trust for the benefit of employees (some or all of whom are owner-employees) and that complies with the provisions of Section 401(c) of the Code.
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Examples of Kxxxx Account in a sentence

  • Subject to Sections 2(c) and 6(b)(5), Buyer agrees that after the Closing, it will perform all of the duties so delegated as successor custodian and comply with the terms of Seller’s agreement with the depositor of the IXX and Kxxxx Account Deposits affected thereby.

  • With respect to Deposits which are Kxxxx Accounts created by a trust for the benefit of employees and which comply with the provisions of Section 401 of the IRC ("Kxxxx Accounts"), Seller shall use reasonable efforts and cooperate with Buyer to invite depositors thereof to direct a transfer of each such depositor's Kxxxx Account and the related Deposit to Buyer, as custodian thereof, and to adopt Buyer's form of Kxxxx master plan as a successor to the Kxxxx master plan of Seller.

  • The Books and Records, including, but not limited to, IXX and Kxxxx Account documentation, are in compliance in all material respects with all requirements of applicable law.

  • Seller shall deliver to Buyer on the Closing Date all the documents in Seller's possession governing each IXX Deposit and Kxxxx Account included in the Assumed Deposits.

Related to Kxxxx Account

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

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

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

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Direct Account : means any Account which is not an ISA Account.

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Collection Accounts As defined in Section 3.10(a).

  • Holding Account means an account:

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Related Account means an Account with respect to which a new account number has been issued by the applicable Account Owner or the Servicer (a)(i) resulting from a lost or stolen credit or charge card relating to such Account (if such Account is a credit or charge card account) or (ii) under circumstances not requiring the standard application and credit evaluation procedures under the Credit Guidelines applicable to such Account, and (b) that can be traced or identified by reference to or by way of Schedule 1 to this Agreement and the computer or other records of the applicable Account Owner or the Servicer.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • 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.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Income Account Distribution Date means the "Distribution Dates" set forth in the "Essential Information" in the Prospectus.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

  • Investment Account As defined in Section 3.12(a).