Immediately Distributable definition

Immediately Distributable. A Participant's Account is Immediately Distributable if any part of such Account could be distributed to the Participant or Participant's Surviving Spouse before the Participant attains (or would have attained if not deceased) the later of Normal Retirement Age or age 62.
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Immediately Distributable. 6 1.52 "Investment Manager" 6 1.53 "Key Employee" 6 TABLE OF CONTENTS
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Immediately Distributable means any part of the Participant’s benefit that could be distributed to the Participant (or the Participant’s surviving Spouse) before the Participant reaches (or would have reached if not deceased) the later of his or her Normal Retirement Age or Age 62.
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Examples of Immediately Distributable in a sentence

  • The Plan Administrator shall notify the Participant (and the Participant’s Spouse if the Plan is subject to the Qualified Joint and Survivor Annuity requirements) of the right to defer any distribution until the Participant’s Account Balance is no longer Immediately Distributable.

  • The Administrator shall notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's benefit is no longer Immediately Distributable.

  • Notwithstanding the foregoing, the failure of a Participant and Spouse to consent to a distribution while a benefit is Immediately Distributable, shall be deemed to be an election to defer commencement of payment of any benefit sufficient to satisfy this Section.

  • The Administrator must notify the Participant (and, with respect to any portion of the Participant’s Account which is subject to the Qualified Joint and Survivor Annuity requirements of Code §401(a)(11) and Code §417, the Participant’s Spouse) of the right to defer any distribution until it is no longer Immediately Distributable.

  • However, the failure of a Participant (and, with respect to any portion of the Participant’s Account which is subject to the Qualified Joint and Survivor Annuity requirements of Code §401(a)(11) and Code §417, the Participant’s Spouse) to consent to a distribution while a benefit is Immediately Distributable will be deemed to be an election to defer the payment (or the commencement of the payment) of any benefit sufficient to satisfy this Section.

  • The consent of the Participant (and, with respect to any portion of the Participant’s Account which is subject to the Qualified Joint and Survivor Annuity requirements of Code §401(a)(11) and Code §417, the Participant’s Spouse, if any (or where either the Participant or Spouse has died, the survivor)) to any benefit that is Immediately Distributable must be obtained in writing within the 90-day period (or such other period as may be required by law) ending on the Annuity Starting Date.

  • Notwithstanding the foregoing, the failure of a Participant to consent to a distribution while a benefit is Immediately Distributable shall be deemed to be an election to defer commencement of payment of any benefit sufficient to satisfy the foregoing sentence.

  • Eliem shall have performed in all material respects all covenants, conditions and obligations required to be performed by it under this Agreement at or prior to the Closing.

  • A Participant's Individual Account is Immediately Distributable, as of any date, if the Participant will not have attained the later of his or her Normal Retirement Age or age 62 by such date.

  • For purposes of determining whether a Participant's consent is legally required before a distribution may be made from the Plan, a Participant's Account is "Immediately Distributable" during the period prior to the date the Participant attains (or would have attained if not deceased) the later of Normal Retirement Age or age 62.


More Definitions of Immediately Distributable

Immediately Distributable only refers to the period during which the law requires the Plan to obtain Participant consent to a distribution. Nevertheless, distributions under this Plan will only be made on request by a Participant or Beneficiary (if applicable) unless the Plan is otherwise required to distribute the Participant's benefit by law.)
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Immediately Distributable means a Participant's Account is Immediately Distributable if any part of such Account could be distributed to the Participant or Participant's Surviving Spouse before the Participant attains (or would have attained if not deceased) the later of Normal Retirement Age or age 62.
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Immediately Distributable. A benefit is Immediately Distributable if any part of the Account Balance could be distributed to the Participant, (or surviving spouse), before the Participant attains, (or would have attained if not deceased), the later of his Normal Retirement Age or 62.
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Related to Immediately Distributable

  • Quarterly Distribution Date means the last Business Day of the month following the end of each calendar quarter after the Effective Date; provided, however, that if the Effective Date is within 45 days of the end of a calendar quarter, the first Quarterly Distribution Date will be the last Business Day of the month following the end of the first calendar quarter after the calendar quarter in which the Effective Date falls.

  • Monthly Distribution Date means the "Distribution Dates" set forth under "Summary of Essential Financial Information--Estimated Distributions" in the Prospectus Part I for a Trust.

  • Quarterly Distribution means with respect to each Distribution Date, the distribution to be made to the Holders of the Up-MACRO Holding Shares that are Outstanding on the Distribution Date pursuant to priority sixth of Section 5.2(a), which shall consist of the cash on deposit in the Up-MACRO Holding Trust after it makes or receives a payment under the Income Distribution Agreement and makes all other payments or investments in Eligible Treasuries that it is required to make pursuant to such Section 5.2(a).

  • Subsequent Distribution Date means the last Business Day of the month following the end of each calendar quarter after the Effective Date; provided, however, that if the Effective Date is within thirty (30) days of the end of a calendar quarter, then the first Subsequent Distribution Date will be the last Business Day of the month following the end of the first (1st) calendar quarter after the calendar quarter in which the Effective Date falls.

  • Intermediate Distribution Frame (IDF) is a second frame that augments an existing Main Distribution Frame. Lines or outside cables do not terminate on the IDF.