Examples of Suspense Fund in a sentence
The Trustee shall establish a trust fund, herein referred to as the Employer Stock Fund, primarily to hold and administer any Shares which are assets of the Fund, except Shares held in the Suspense Fund.
The Trustee shall establish a trust fund, herein referred to as the Suspense Fund, to hold and administer any Shares which are pledged as collateral for any loan made to the Trustee for the purposes of the Plan.
The Trustee shall establish such trust funds, herein referred to as the Investment Funds, as the Company shall direct from time to time, to hold and administer all of the assets of the Fund, except assets held in the Employer Stock Fund or the Suspense Fund.
Funds received in exchange for tendered shares will be credited to the Goodyear Stock Fund account of the person with respect to whom such shares of Company Stock were tendered or the Suspense Fund from which such shares of Company Stock were tendered and will be used by the Trustee to purchase Company Stock, as soon as practicable.
In any Plan Year as any Shares are no longer required to be pledged as collateral for such a loan, the Trustee shall release such Shares from encumbrance in the Suspense Fund and shall transfer them to the Employer Stock Fund as of the last day of such Plan Year.
Except as provided in Section 7.6, and except as may be otherwise directed by the Committee, all dividends and other earnings of the Fund shall be deposited by the Trustee in the separate fund for which the income was received; provided, however, that any dividends and other earnings of the Suspense Fund shall be used by the Trustee to repay any loan for which the Shares in the Suspense Fund are held as collateral.
Any such pledged Company Stock shall be placed in the Suspense Fund.
Shares of Employer Stock released from the Suspense Fund that are attributable to Employer Contributions shall be allocated among the Accounts of Eligible Employees as provided in the preceding paragraph.
The Sponsor shall direct the establishment and maintenance of a Suspense Fund to hold all shares of Employer Stock acquired with the proceeds of an Exempt Loan pending their release from encumbrance and allocation to Participants’ Accounts.
The Suspense Fund shall be held and administered as a separate trust fund.