Common use of Contributions and Distributions Clause in Contracts

Contributions and Distributions. In the absence of an affirmative election to the contrary, all Deferrals contributed to the Plan shall be designated as pre-tax Deferrals. Loans from a Participant’s Account must be made and repaid from pre-tax available sources and/or ▇▇▇▇ Elective Deferrals, subject to any ordering rules established by the Board. Participants may designate whether hardship withdrawals from their account will reduce pro-rata their ▇▇▇▇ or their pre-tax available sources.