Dell 2003 Annual Report Download - page 117

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shall be prior to any withdrawal or distribution of benefits from the pledged portion of the Participant's Accounts pursuant to the provisions of the
Plan.
(b) Notwithstanding Subsection 9.6(a), amounts in a Participant's Accounts may not be offset and used to satisfy the payment of a defaulted
outstanding loan (including interest) prior to the earliest time the amounts in any such Account are otherwise permitted to be distributed under
applicable law. In the event an offset of a defaulted loan is not permitted pursuant to the preceding sentence, such outstanding loan balance
(including interest) shall be deemed distributed to such Participant on the last day of the calendar quarter (effective January 1, 2001, on the
ninetieth day) following the calendar quarter in which the first unpaid installment on such loan was due and unpaid.
* * * * *
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