Common use of Restrictions On Immediate Distributions Clause in Contracts

Restrictions On Immediate Distributions. If a Participant's Vested Aggregate Account exceeds the amount set forth in paragraph (a) of this Section and is immediately distributable, such account can only be distributed in accordance with the following provisions:

Appears in 2 contracts

Sources: Employee Stock Ownership Plan & Trust (Picis Inc), Employee Stock Ownership Plan & Trust (Picis Inc)

Restrictions On Immediate Distributions. If a Participant's ’s Vested Aggregate Account balance exceeds the amount set forth in paragraph (a) of this Section and is immediately distributableImmediately Distributable, then such account can only be distributed in accordance with the following provisions:

Appears in 2 contracts

Sources: 401(k) Non Standardized Prototype Adoption Agreement (Michaels Stores Inc), 401(k) Non Standardized Prototype Adoption Agreement (Littelfuse Inc /De)

Restrictions On Immediate Distributions. If a Participant's ’s Vested Aggregate Account balance exceeds the amount set forth in paragraph (a) of this Section and is immediately distributable, such account can only be distributed in accordance with the following provisions:

Appears in 1 contract

Sources: 401(k) Plan Agreement (Provident Bancorp Inc/Ny/)