Maximum number of Loans. A Participant may have a maximum of two loans outstanding at any given time.
Appears in 6 contracts
Sources: Savings Plan Amendment (New Nisource Inc), Savings Plan and Trust Agreement (Riviana Foods Inc /De/), Employee Stock Savings Plan (La Gear Inc)
Maximum number of Loans. A Participant may have a maximum of two loans outstanding at any given time, except that a participant may have more than two loans outstanding at any given time as a result of transfer on his or her behalf of more than two loans from a predecessor plan as merged herein. During any period such a Participant has two or more loans outstanding, a new loan may not be secured.
Appears in 1 contract
Sources: Retirement Savings Plan and Trust Agreement (Southdown Inc)
Maximum number of Loans. A Participant may have a maximum of two loans outstanding at any given time, provided that the purpose of one of the loans is to acquire the Participant’s principal residence.
Appears in 1 contract
Sources: 401(k) Plan and Trust Agreement (Leggett & Platt Inc)