Example ContractsClausesDesignated Account
Designated Account
Designated Account contract clause examples

A Participant may from time to time designate that certain Shares or Share Equivalents that are owned solely by the Participant or otherwise credited solely to the Participant be credited to the Account of such Participant. A Participant shall be permitted to so designate any Shares or Share Equivalents only to the extent the following requirements have been satisfied:

Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated Beneficiary, determined as follows:

Participant Survived by Designated Beneficiary. If the Participant dies before the date distributions

“Designated Deposit Account” is the multicurrency account denominated in Dollars , account number , maintained by Borrower with Bank.

Schedule #-1 Designated Account

Section # Designated Account

Schedule # Farmor Designated Account

Section #2Payments; Designated Account.

Deferred Compensation Account. Interest shall be credited on the balance of each participating Director’s Deferred Compensation Account commencing with the date as of which any amount is credited to the Deferred Compensation Account and continuing up to the last day of the quarter preceding the month in which payment of the amounts deferred pursuant to the Plan is made. Such interest shall become a part of the Deferred Compensation Account and shall be paid at the same time or times as the balance of the Deferred Compensation Account. For periods prior to July 1, 2008, such interest for each calendar quarter during the deferral period shall be computed at seventy percent (70%) of the higher of the following averages: # the prime rate charged by the major commercial banks as of the first business day of each calendar month (as reported in an official publication of the Federal Reserve System), or # the average monthly long-term rate of A rated corporate bonds (as published in Moody’s Bond Record). For periods on and after July 1, 2008, interest shall be credited at one-hundred twenty percent (120%) of the long-term applicable federal rate, with quarterly compounding, as published under Section 1274(d) of the Code for the first month of the calendar quarter.

Operating Account Interest. Subject to [Section 9(h)], the Buydown Amount will accrue interest at the Operating Account Rate; provided that in no event shall interest accrue on # the Buydown Amount if # on any day the Buydown Amount is less than the Minimum Balance Requirement or # the average balance of funds in the Operating Account during any calendar month is less than the Minimum Balance Requirement and # that portion of the Buydown Amount that is in excess of the lesser of # the aggregate outstanding Purchase Price of all Transactions during any calendar month or # the Minimum Balance Requirement. Unless otherwise set forth in the Pricing Letter:

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.