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 established and maintained to hold Company Stock acquired with the proceeds of an Exempt Loan and held in the Trust, which Company Stock has not been allocated to the Accounts of Participants with respect to the year of such acquisition.

Examples of Suspense Account in a sentence

• Further the Company did not moved in/out any Equity Share in said Suspense Account during the current financial year.

• Financed Shares shall initially be credited to the Loan Suspense Account and shall be transferred for allocation to the Company Stock Accounts of Participants only as payments of principal and interest (or, if the requirements of Section 54.4975-7(b)(8)(ii) of the Treasury Regulations are met and the Employer so elects, principal payments only), on the Acquisition Loan are made by the Trustee.

• Amounts held in Interest Suspense Account should not be reckoned as part of provisions.

• Amounts lying in the Interest Suspense Account should be deducted from the relative advances and thereafter, provisioning as per the norms, should be made on the balances after such deduction.

• The Employers’ obligation to make contributions under this Section 4.01(b) shall be reduced to the extent of any investment earnings attributable to such contributions and any cash dividends paid with respect to Company Stock held by the Trustee in the Loan Suspense Account.

More Definitions of Suspense Account

Suspense Account means the account comprised of unallocated shares of Company Stock maintained in accordance with Section 5.03.

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 account used to reflect MCN Stock acquired with loan proceeds pursuant to section 14.4.

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 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 has the meaning set forth in Section 4.07(a).

Suspense Account means the separate account maintained for a Member pursuant to Section 4.3.