Incoming Transfers Sample Clauses

Incoming Transfers. A transfer may be accepted from another eligible deferred compensation plan maintained by the Employer and credited to a Participant’s or Beneficiary’s Account under the Plan if: (1) The Employer’s other plan provides that such transfer will be made; (2) The Participant or Beneficiary whose deferred amounts are being transferred will have an amount immediately after the transfer at least equal to the deferred amount immediately before the transfer; and (3) The Participant or Beneficiary whose deferred amounts are being transferred is not eligible for additional annual deferrals in the Plan unless the Participant or Beneficiary is performing services for the Employer.

Incoming Transfers. A transfer may be accepted from an eligible deferred compensation plan maintained by another employer and credited to a Participant’s or Beneficiary’s Account under the Plan if: (1) In the case of a transfer for a Participant, the Participant has had a Severance Event with that employer and become an Employee of the Employer; (2) The other employer’s plan provides that such transfer will be made; and (3) The Participant or Beneficiary whose deferred amounts are being transferred will have an amount immediately after the transfer at least equal to the deferred amount immediately before the transfer. The Employer may require such documentation from the predecessor plan as it deems necessary to effectuate the transfer in accordance with Section 457(e)(10) of the Code, to confirm that such plan is an eligible deferred compensation plan within the meaning of Section 457(b) of the Code, and to assure that transfers are provided for under such plan. The Employer may refuse to accept a transfer in the form of assets other than cash, unless the Employer and the Administrator agree to hold such other assets under the Plan.

Incoming Transfers. Subject to the requirements of Code section 457(e)(10), any Treasury Regulations thereunder, and the procedures established by the Plan Administrator, a transfer may be accepted from a governmental eligible deferred compensation plan if such transfer complies with the requirements set forth in subsection (1), (2) or (3) below: (1) In the Case of Plan-to-Plan Transfers of the Account of a Participant After a Severance Event: (a) The transferor governmental eligible deferred compensation plan must provide for transfers; (b) The Participant or Beneficiary whose amounts deferred are being transferred must have deferred compensation immediately after the transfer at least equal to the amount deferred with respect to the Participant or Beneficiary immediately before the transfer; (c) In the case of a transfer for a Participant, the Participant must have had a Severance Event with the transferring employer and must be performing services for the Employer. (2) In the Case of Plan-to-Plan Transfers of All Plan Assets to Another Code Section 457(b) Plan Within the Same State: (a) The transferor governmental eligible deferred compensation plan and the Plan must be within the same state; (b) The transferor governmental eligible deferred compensation plan must provide for transfers; (c) All assets of the transferor governmental plan must be transferred; (d) The Participants and Beneficiaries whose amounts deferred are being transferred must have deferred compensation immediately after the transfer at least equal to the amount deferred with respect to each Participant or Beneficiary immediately before the transfer; (e) The Participants and Beneficiaries whose deferred amounts are being transferred must not be eligible to make additional annual deferrals under the Plan unless they are performing services for the Employer. (3) In the Case of Plan-to-Plan Transfers of Plan Assets Among an Employer's Code Section 457(b)

Incoming Transfers. USCB may reject any incoming transfer payable to an Account. USCB shall not be obligated to accept or execute any Payment Order that would violate any law or regulation. Credit to an Account for an incoming transfer is provisional until USCB receives final settlement for the transfer. If USCB does not receive final settlement, then USCB shall be entitled to a refund of the amount provisionally credited to Customer, and Customer shall pay such amount to USCB on demand. Should USCB receive an incoming transfer to an Account, USCB is entitled to post such funds to the Account specified in the Payment Order. Bank is not liable in any event for posting an incoming transfer to an account number specified in the Payment Order. If Customer in writing requests telephone notification of incoming transfers, USCB will attempt to notify Customer within a reasonable time following the receipt of the funds, for a fee as USCB may set from time to time, according to USCB’s fee schedule as from time to time in effect. USCB shall have no liability to Customer, however, for the failure to give such notice.

Incoming Transfers. Incoming wire transfers will be credited to the account name and number as stipulated in the wire instructions. If there is a discrepancy in the name and account number, the Wire Transfer Department may return the funds to the originating bank for clarification. If the Wire Transfer Department does not realize that the name and the account number identity are different parties, the Wire Transfer Department may credit the funds to the account number identified. The Wire Transfer Department reserves the right at any time to process incoming wires on the basis of account number alone.

Incoming Transfers. Subject to the requirements of Code section 457(e)(10), any Treasury Regulations thereunder, and the procedures established by the Committee, a transfer may be accepted from a governmental eligible deferred compensation plan if such transfer complies with the requirements set forth below: (a) The transferor governmental eligible deferred compensation plan must provide for transfers; (b) The Participant or Beneficiary whose amounts deferred are being transferred must have deferred compensation immediately after the transfer at least equal to the amount deferred with respect to the Participant or Beneficiary immediately before the transfer; (c) In the case of a transfer for a Participant, the Participant must have had a Severance Event with the transferring employer and must be performing services for the Employer. The Committee may require such documentation from the other plan as it deems necessary to effectuate the transfer in accordance with Code section 457(e)(10) and Treasury Regulation section 1.457-10(b), to confirm that such plan is a governmental eligible deferred compensation plan within the meaning of Code section 457(b) and Treasury Regulation section 1.457-2(f), and to assure that transfers are provided for under such plan. The Committee may refuse to accept a transfer in the form of assets other than cash, unless the Employer and the Committee agree to hold such other assets under the Plan. Any such transferred amount shall be treated as an elective deferral, except that such transferred amount shall not be considered a contribution subject to the limitations of Section 3.5.

Incoming Transfers. Participants’ transfers from other qualified plans deposited in the general Trust Fund shall share in any earnings and losses (net appreciation or net depreciation) of the Trust Fund in the same manner provided above. Each segregated account maintained on behalf of a Participant shall be credited or charged with its separate earnings and losses.

Incoming Transfers