Maximum Term. The term of the any such loan shall not exceed 5 years; provided, however, that such limitation shall not apply to any loan used to acquire, construct, reconstruct, or substantially rehabilitate any dwelling unit which within a reasonable time is to be sued (determined at the time the loan is made) as a principal residence of the Participant or a member of the Participant's family (within the meaning of Code Section 267(c)(4)).
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Sources: Scudder Flexi Plan Agreement (Scudder Portfolio Trust/), Scudder Flexi Plan Agreement (Scudder Equity Trust), Scudder Flexi Plan Agreement (Scudder Investment Trust)
Maximum Term. The term of the any such loan shall not exceed 5 five years; provided, however, that such limitation shall not apply to any loan used to acquire, construct, reconstruct, or substantially rehabilitate any for the purchase of a dwelling unit which within a reasonable time is to be sued used (determined at the time the loan is made) as a principal residence of the Participant or a member of the Participant's family (within the meaning of Code Section 267(c)(4)).
Appears in 3 contracts
Sources: Prototype 401(k) Plan (United States Lime & Minerals Inc), 401(k) Plan Adoption Agreement (United States Lime & Minerals Inc), Prototype 401(k) Plan (Associated Estates Realty Corp)
Maximum Term. The term of the any such loan shall not exceed 5 years; provided, however, that such limitation shall not apply to any loan used to acquire, construct, reconstruct, or substantially rehabilitate any for the purchase of a dwelling unit which within a reasonable time is to be sued used (determined at the time the loan is made) as a principal residence of the Participant or a member of the Participant's family (within the meaning of Code Section 267(c)(4)).
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Maximum Term. The term of the any such loan shall not exceed 5 five years; ------------ provided, however, that such limitation shall not apply to any loan used to acquire, construct, reconstruct, or substantially rehabilitate any for the purchase of a dwelling unit which within a reasonable time is to be sued used (determined at the time the loan is made) as a principal residence of the Participant or a member of the Participant's family (within the meaning of Code Section 267(c)(4)).
Appears in 1 contract
Sources: 401(k) Plan Adoption Agreement (Chandler Insurance Co LTD)
Maximum Term. The term of the any such loan shall not exceed 5 years; provided, however, that such limitation shall not apply to any loan used to acquire, construct, reconstruct, or substantially rehabilitate any dwelling unit which within a reasonable time is to be sued used (determined at the time the loan is made) as a principal residence of the Participant or a member of the Participant's family (within the meaning of Code Section 267(c)(4))) of the Participant.
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