Comcast 2014 Annual Report Download - page 296

(b) the Participant (other than a Participant who continues to be a party in interest) has a Severance from Service Date;
(c) the loan is not repaid by the time the note matures including any extensions pursuant to Section 9.4.4;
(d) the Participant attempts to revoke any payroll deduction authorization for repayment of the loan without the consent of the
Committee;
(e) the Participant fails to pay any installment of the loan when due and the Committee elects to treat such failure as default;
or
(f) any other event occurs which the Committee, in its sole discretion, believes may jeopardize the repayment of the loan;
before a loan is repaid in full, the unpaid balance thereof, with interest due thereon, shall become immediately due and payable. The Participant
(or his beneficiary, in the event of the Participant’s death) may satisfy the loan by paying the outstanding balance of the loan within such time as
may be specified in the note which period shall not extend more than 30 days from a Severance from Service Date. If the loan and interest are
not repaid within the time specified, the Committee shall satisfy the indebtedness from the amount of the Participant’s vested interest in his
Account as provided in Section 9.5 before making any payments otherwise due hereunder to the Participant or his beneficiary.
Section 9.5. Enforcement .
9.5.1. The Committee shall give written notice to the Participant (or his beneficiary in the event of the Participant’
s death) of an event
of default described in Section 9.4.5(d). If the loan and interest are not paid within the time period specified in the notice, the amount of the
Participant’s vested interest in his Account, to the extent such Account is security for the loan, shall be reduced by the amount of the unpaid
balance of the loan, with interest due thereon, and the Participant’s indebtedness shall thereupon be discharged to the extent of the reduction.
9.5.2. In addition, if the value of the Participant’
s total vested interest in his Account pledged as security for the loan is insufficient to
discharge fully the Participant’s indebtedness, the Participant’s Account shall be used to reduce the Participant’
s indebtedness at such time as the
Participant is entitled to a distribution under Article V or a withdrawal under Article VIII, and any remaining amounts in his Account shall be
used to reduce the Participant’s indebtedness at such time as the Participant has a Severance from Service Date. Such action shall not operate as
a waiver of the rights of the Company, the Committee, the Trustee, or the Plan under applicable law.
9.5.3. The Committee also shall be entitled to take any and all other actions necessary and appropriate to foreclose upon any property
other than the Participant’s Account pledged as security for the loan or to otherwise enforce collection of the outstanding balance of the loan.
Section 9.6. Additional Rules . The Committee may establish additional rules relating to Participant loans under the Plan, which rules shall
be applied on a uniform and non-discriminatory basis.
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