Common use of Limitation on Elective Deferrals Clause in Contracts

Limitation on Elective Deferrals. No Participant shall be permitted to have Elective Deferrals made under this Plan, or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Section 402(g) of the Code in effect at the beginning of such taxable year.

Limitation on Elective Deferrals. No Participant shall be permitted to have Elective Deferrals elective deferrals made under this PlanCustodial Agreement, or any other qualified plan maintained by the Employer, Employer during any taxable year, in excess of the dollar limitation contained in Section 402(g) of the Code in effect at the beginning of for such taxable year, except to the extent permitted under section 7 of this Amendment and Section 414(v) of the Code, if applicable.