Other Withdrawals Clause Samples
The 'Other Withdrawals' clause defines the circumstances under which funds or assets may be withdrawn from an account or arrangement outside of the standard or primary withdrawal provisions. Typically, this clause outlines specific situations, such as regulatory requirements, court orders, or exceptional events, where additional withdrawals are permitted. By clearly specifying these alternative withdrawal scenarios, the clause ensures both parties understand when and how extra withdrawals can occur, thereby reducing disputes and providing flexibility in managing the account.
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Other Withdrawals. If so elected by the Employer in the Plan Agreement, a Participant may make a withdrawal from his Employer Contribution Account or Employer -67- Matching Account for any reason upon written request to the Employer (or in such other manner as shall be made available and agreed upon by the Employer and Putnam), provided that (a) the Participant has been a Participant for ▇▇ ▇▇▇st five years, or (b) the withdrawal from such Account is limited to the excess of the balance of such Account on the date of the withdrawal over the aggregate of the amounts credited to such Account during the two year period immediately preceding the date of such withdrawal. No such withdrawal shall exceed the vested portion of the Participant's Account from which the withdrawal is made. A withdrawn amount may not be repaid to the Plan.
Other Withdrawals. The Company will have the right to withdraw assets from the HPS Investment Account (i) to deposit into (x) the Claims Account to the extent required to satisfy any obligations set forth in Section 10(a)(ii) and (y) the Operating Account to the extent required to satisfy any obligations set forth in Section 10(a)(iii), in each case, upon as much prior written notice to the Investment Manager as reasonably practicable; provided that, in each case, if the Company withdraws assets in an amount equal to or greater than 10% of the Net Asset Value of the HPS Investment Account, the Company shall use commercially reasonable efforts to provide thirty (30) Business Days (as defined in Exhibit B) prior written notice to the Investment Manager; provided, further, that, in each case, the Company will use commercially reasonable efforts to re-contribute any excess unused withdrawn assets back into the HPS Investment Account, and (ii) to the extent that any credit facility or letter of credit facility to which the Company is a party requires such withdrawal; provided that the Company will use commercially reasonable efforts to re-contribute such withdrawn assets back into the HPS Investment Account after, and to the extent that, the applicable credit facility or letter of credit facility no longer requires such assets.
Other Withdrawals. The withdrawal of a Member shall also be deemed to occur in the event of the death, expulsion, dissolution, legal incapacity, insolvency, or bankruptcy of such Member. The death, legal disability, incapacity, insolvency, bankruptcy, dissolution or withdrawal of a Member shall not result in the dissolution or termination of the Company.
Other Withdrawals. Withdrawals from the Checking Account may be made by ATM transaction, by pre-authorized transfers, or by home banking. These withdrawals are subject to applicable credit union procedures and agreements, and any applicable fees.
Other Withdrawals. A Member may withdraw any part of his Account resulting from his Voluntary Contributions subject to the limitations provided in Item Y(1). A Member may withdraw any part of his Account resulting from his Rollover Contributions subject to the limitations provided in Item Y(2). If elected by us in Item Y(4), withdrawals of part of the Member's Account as provided in Item Y(4) will be permitted at any time after he attains age 59 1/2 subject to the limitations provided in Item Y(4). If elected by us in Item Y(5), withdrawals of part of the Member's Account as provided in Item Y(5) will be permitted after he has been an Active Member for at least five years subject to the limitations provided in Item Y(5). A request for withdrawal shall be made in such manner and in accordance with such rules as we will prescribe for this purpose (including by means of voice response or other electronic means under circumstances we permit). Withdrawals shall be a retirement benefit and shall be distributed to the Member according to the distribution of benefits provisions of Article VI or VIA, whichever applies. A forfeiture shall not occur solely as a result of a withdrawal.
Other Withdrawals. Withdrawals from the Checking Account may be made by ATM transaction, by pre-authorized transfers, by TouchLine® voice response system transfers, or by home banking. These withdrawals are subject to applicable credit union procedures and agreements, and any applicable fees. This policy statement applies to “transaction” accounts. Transaction accounts, in general, are accounts which permit an unlimited number of pay- ments to third parties and an unlimited number of telephone or pre-authorized transfers to other accounts of yours with us. Checking accounts are the most common transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy. The credit union’s funds availability policy is detailed in the following disclosure, which is published in compliance with federal regulations. Our policy is to make funds from your deposits available to you on the first business day after we receive your deposit. At that time, you can withdraw the funds in cash and we will use the funds to pay checks that have been written. Please remember that even after we make funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a de- posit before closing on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after closing or on a day we are not open, we will consider that the deposit was made on the next day that we are open. In some cases, we will not make all of the funds that you deposit by check available on the first business day after the day of your deposit. Funds may not be available until the second business day after the day of your deposit. If we are not going to make all the funds from your deposit available on the first business day, we will notify you in writing on your transaction receipt at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds for a deposit right away, you should ask us when the funds will be available. In ad...
Other Withdrawals. 67 12.5. Loans...................................................................................68 12.6. Procedure; Amount Available.............................................................70 12.7.
Other Withdrawals. TLIC may make withdrawals from the Participant’s Account as follows: (i) for refunds or other distribution of Contributions as may be required to comply with the Code or any other statute of similar import; (ii) for charges for services described in Sections 3.4, 3.5, 3.6, 3.7, and 3.8 to the extent not paid directly by the Contractholder as determined by TLIC.
Other Withdrawals. TLIC may make withdrawals from the Participant’s Account as follows for charges for services described in Sections 3.5 and 3.6.
Other Withdrawals. A. If a Participant requests a withdrawal, and the Plan Administrator or the OCIO determines it is necessary to delay liquidation of the Participant’s interest in a UC Fund designated by the Participant to fund the withdrawal (“Restricted Option”) in order to protect the interests of all Participants and Beneficiaries invested in the Restricted Option, the Plan Administrator will so inform the Participant. The delay in liquidation will not exceed seven (7) days. The Participant may elect to defer the withdrawal until the restriction is lifted or to designate a different order of liquidation. If the Participant fails to elect to defer the withdrawal date or to modify the order after receiving notice of the Restricted Option, pro rata withdrawals will be made from the Investments Options designated by the Participant other than the Restricted Option. If a Participant fails to designate any order of liquidation, pro rata withdrawals will be made from all Investment Options within the eligible funding sources other than the Restricted Option. Requests to liquidate a Participant’s interest in a Restricted Option will be processed in the order received.