Restricted LIF definition

Restricted LIF means a registered retirement income fund, as defined in subsection 146.3(1) of the Tax Act that meets the requirements set out in section 20.3 of the Regulation;
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Restricted LIF means a RRIF which meets the requirements, where not inconsistent, of a “restricted life income fund” under the Federal Pension Regulations;
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Restricted LIF means a life income fund that is a RIF that meets the requirements set out in section 20.3 of the Regulation;
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Examples of Restricted LIF in a sentence

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  • In the Year in which You reach age 90 and in all subsequent Years, the Maximum Amount is the value of this Restricted LIF immediately before the time of the payment.

  • You understand that if You are a Pension Plan Member, as certified above, the death benefit provision governing this Restricted LIF will require the Issuer upon your death to pay the Restricted LIF proceeds to your Survivor as defined in this Agreement.

  • Payments during the Year in which this Restricted LIF is opened are at Your option; however, they cannot exceed the Maximum Amount for that Year.

  • For the Year in which this Restricted LIF was opened, the Maximum Amount determined above under paragraph i) or ii) must be multiplied by the number of months remaining in that Year and then divided by 12, with any part of an incomplete month counting as one month.

  • By signing below, You acknowledge that You have read, understand and agree that the following general terms and provisions govern the funds held under this Restricted LIF.

  • If, when this Restricted LIF was opened, part of the Locked-In Funds included funds that had been held in another Restricted LIF You owned earlier in the Year in which the Restricted LIF was established, the Maximum Amount determined is deemed to be zero in respect of that part of this Restricted LIF for that Year.

  • In Funds: No funds or other property may be transferred into this Restricted LIF unless it is locked-in under the Federal Pension Laws.

  • No funds or other property may be transferred into this Restricted LIF unless it is locked-in under the Federal Pension Laws.

  • However, some jurisdictions require that all remaining assets in a LIF be used to buy a life annuity contract on Dec 31st of the year the owner reaches a certain age.2.1) Restricted LIF (RLIF) An RLIF is a LIF that has been established in some jurisdictions to accommodate a one-time unlocking option of up to 50% of the value of the RLIF at age 55 or over.

Related to Restricted LIF

  • Restricted List means the list of companies maintained by the Compliance Officer about which the Adviser or its affiliates potentially possess material nonpublic information.

  • Restricted License is any material license or other agreement with respect to which Borrower is the licensee (a) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or agreement or any other property, or (b) for which a default under or termination of could interfere with the Bank’s right to sell any Collateral.

  • Restricted List Securities means the list of securities that are provided to the Compliance Department by Invesco Ltd. or investment departments, which include those securities that are restricted from purchase or sale by Client or Employee accounts for various reasons (e.g., large concentrated ownership positions that may trigger reporting or other securities regulatory issues, or possession of material, non-public information, or existence of corporate transaction in the issuer involving an Invesco Ltd. unit).

  • Restricted Debt has the meaning set forth in Section 6.04(b).

  • Restricted Group means, collectively the Company, its subsidiaries, the members of the Sponsor Group and their respective Affiliates.

  • Restricted Lender means a Lender that fails to approve an amendment, waiver or consent requested by the Loan Parties pursuant to Section 10.01 that has received the written approval of not less than the Required Lenders but also requires the approval of such Lender.

  • Restricted Fund means a fund in which the use of the principal or principal and income is restricted by agreement with, or direction by, the donor to a specific purpose. Restricted fund does not include a fund over which the owner has complete control. The owner is deemed to have complete control over a fund that is to be used for general operating or building purposes.

  • Restricted Entity means any "employee benefit plan" as defined in and subject to ERISA, any "plan" as defined in and subject to Section 4975 of the Code, or any entity any portion or all of the assets of which are deemed pursuant to United States Department of Labor Regulation Section 2510.3-101 or otherwise pursuant to ERISA or the Code to be, for any purpose of ERISA or Section 4975 of the Code, assets of any such "employee benefit plan" or "plan" that invests in such entity.

  • Converted Restricted Subsidiary has the meaning specified in the definition of “Consolidated EBITDA.”

  • Restricted rights, as used in this clause, means the rights of the Government in restricted computer software, as set forth in a Restricted Rights Notice of paragraph (g) if included in this clause, or as otherwise may be provided in a collateral agreement incorporated in and made part of this contract, including minor modifications of such computer software.

  • Restricted Party means a person that is:

  • Restricted Company means any of the foregoing.

  • Foreign Restricted Subsidiary means any Restricted Subsidiary which is not organized under the laws of the United States of America or any State thereof or the District of Columbia.

  • Non-Restricted Subsidiary means any Subsidiary of the Company other than a Restricted Subsidiary.

  • Restricted Client means any person:

  • Restricted Distribution means as to any Person (i) any dividend or other distribution on any equity interest in such Person (except those payable solely in its equity interests of the same class) or (ii) any payment on account of (a) the purchase, redemption, retirement, defeasance, surrender or acquisition of any equity interests in such Person or any claim respecting the purchase or sale of any equity interest in such Person or (b) any option, warrant or other right to acquire any equity interests in such Person.

  • Restricted Property means (a) any property of the Company located within the United States of America that, in the opinion of the Company’s board of directors, is a principal manufacturing property or (b) any shares of capital stock or Debt of any Subsidiary owning any such property.

  • Domestic Restricted Subsidiary means a Restricted Subsidiary incorporated or otherwise organized or existing under the laws of the United States, any state thereof or any territory or possession of the United States.

  • Restricted Junior Payment means (i) any dividend or other distribution, direct or indirect, on account of any shares of any class of stock of Company now or hereafter outstanding, except a dividend payable solely in shares of that class of stock to the holders of that class, (ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of stock of Company now or hereafter outstanding, (iii) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of stock of Company now or hereafter outstanding, and (iv) any payment or prepayment of principal of, premium, if any, or interest on, or redemption, purchase, retirement, defeasance (including in-substance or legal defeasance), sinking fund or similar payment with respect to, any Subordinated Indebtedness.

  • Restricted Foreign Subsidiary means a Foreign Subsidiary that is a Restricted Subsidiary.

  • Significant Restricted Subsidiary means any Restricted Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on the date of this Indenture.

  • Restricted Parties has the meaning set forth in Section 6.7(a).

  • Restricted Person shall have the meaning assigned to such term in Section 6.9(i).

  • Restricted Legend means the legend set forth in Exhibit C.

  • Restricted Subsidiary means any Subsidiary of the Borrower other than an Unrestricted Subsidiary.

  • Material Restricted Subsidiary any Restricted Subsidiary other than one or more Restricted Subsidiaries designated by the Borrower that in the aggregate do not constitute Material Subsidiaries.