Suspense Account definition
Suspense Account means the account established by the Trustee for maintaining contributions and forfeitures which have not yet been allocated to Participants.
Suspense Account means the total forfeitable portion of all Former Participants' Accounts which has not yet become a Forfeiture during any Plan Year.
Suspense Account means the account comprised of unallocated shares of Company Stock maintained in accordance with Section 5.03.
Examples of Suspense Account in a sentence
Any interest paid on the amount for the time being in the Suspense Account shall not be payable by us to you.
All amounts from time to time received by us in respect of the Secured Moneys from or on account of you may be placed in a suspense account (the Suspense Account) with a view to preserving our rights, to the extent permitted by law, to prove for the whole of the Secured Moneys in the event of any proceeding in, or analogous to, liquidation, bankruptcy; amalgamation, change in status, constitution or control, reconstruction or reorganisation of a Transaction Party.
More Definitions of Suspense Account
Suspense Account means an account of a financial institution in which receipts or disbursements are temporarily carried pending their identification and transfer.
Suspense Account means the account in which shares of Company Stock acquired with the Loan are held until they are released pursuant to Section 3.
Suspense Account means the total forfeitable portion of all terminated or former Participants' Accounts which have not yet become available to offset future Employing Company contributions. The Suspense Account shall be maintained as a single account under the Plan or shall represent the total of separate bookkeeping accounts established in the name of each terminated or former Participant to represent his forfeitable percentage. (This account shall be separate from the Code Section 415 suspense account referenced in Section 6.2 hereof.) The Suspense Account shall always share in earnings or losses of the Trust Fund and at the appropriate time shall be used to offset future Employing Company contributions. Forfeitures shall only remain in the Suspense Account until such time as they become available to reduce future Employing Company contributions in accordance with Section 10.3 hereof.
Suspense Account means the account used to reflect MCN Stock acquired with loan proceeds pursuant to section 13.4.
Suspense Account means an account to which Shares purchased with the proceeds of an Exempt Loan (and earnings attributable to such Shares) shall be allocated until such Shares and earnings are released from suspense and allocated to the ESOP Accounts of Participants or beneficiaries in accordance with subsection 19.12 of the ESOP.
Suspense Account means the separate account maintained for a Member pursuant to Section 4.3.
Suspense Account means the account established and maintained to hold Company Stock acquired with the proceeds of an Exempt Loan and held in the Fund, which Company Stock has not been allocated to the Accounts of Participants with respect to the year of such acquisition.