Source and Timing of Loan Funding. A loan to a Participant shall be made solely from the assets of his or her own Account. The available assets shall be determined first by Account type and then within each Account used for funding a loan, amounts shall first be taken from the Sweep Account and then taken by Investment Fund in direct proportion to the market value of the Participant's interest in each Investment Fund as of the Trade Date on which the loan is processed. The loan shall be funded on the Settlement Date following the Trade Date as of which the loan is processed. The Trustee shall make payment to the Participant as soon thereafter as administratively feasible.
Appears in 7 contracts
Sources: Retirement Savings Plan and Trust Agreement (Spieker Properties Inc), Employee Stock Savings Plan (La Gear Inc), Employee Savings Plan Agreement (Nipsco Industries Inc)
Source and Timing of Loan Funding. A loan to a Participant shall be made solely from the assets of his or her own Account. The available assets shall be determined first by Account type and then within each Account used for funding a loan, amounts shall first be taken from the Sweep Account and then taken by Investment Fund in direct proportion to the market value of the Participant's interest in each Investment Fund as of the Trade Date on which the loan is processed. The loan shall be funded on the Settlement Date following the Trade Date as of which the loan is processed. The Trustee shall make payment to the Participant as soon thereafter as administratively feasible.
Appears in 3 contracts
Sources: Savings Plan Amendment (New Nisource Inc), 401(k) Savings Plan and Trust Agreement (Advo Inc), Savings Plan and Trust Agreement (Hanna M a Co/De)
Source and Timing of Loan Funding. A loan to a Participant shall be made solely from the assets of his or her own Account. The available assets shall be determined first by Account type and then within each Account used for funding a loan, amounts shall first be taken from the Sweep Account and then taken by Investment Fund in direct proportion to the market value of the Participant's interest in each Investment Fund as of the Trade Date on which the loan is processed. The loan shall be funded on the Settlement Date following the Trade Date as of which the loan is processed. The Trustee shall make payment to the Participant as soon thereafter as administratively feasible.
Appears in 1 contract
Sources: Savings Plan and Trust Agreement (Riviana Foods Inc /De/)
Source and Timing of Loan Funding. A loan to a Participant shall be made solely from the assets of his or her own Account. The available assets shall be determined first by Account type and then within each Account used for funding a loan, amounts shall first be taken from the Sweep Account and then taken by Investment Fund in direct proportion to the market value of the Participant's interest in each Investment Fund as of the Trade Date on which the loan is processed. The loan shall be funded settled on the Settlement Date following the Trade Date as of which the loan is processed. The Trustee shall make payment to the Participant as soon thereafter as administratively feasible.
Appears in 1 contract
Sources: 401(k) Maximum Advantage Program and Trust Agreement (Gerber Scientific Inc)