Excluded Benefits definition

Excluded Benefits means (i) vacation days or vacation pay, sick days or sick leave, maternity leave or other leaves of absence, termination or severance pay, union dues, pension benefits, ERISA coverage and similar contributions and (ii) payroll taxes, worker’s compensation and health insurance benefits in excess of the Benefits Cap.

Excluded Benefits referenced in this Part B means the aggregate amount of the benefits the Borrower has received, or is expecting to receive by December 31, 2020, in support or subsidies under any other Government of Canada COVID response program (“GOC COVID Response Programs”) including the ones listed at the end of this Attestation. For clarity, while the Canada Emergency Commercial Rent Assistance (“CECRA”) program is a GOC COVID Response Program, it is understood that: (i) if the Borrower is a commercial property owner, forgivable loan(s) received or to be received by such Borrower from the GOC pursuant to the CECRA program are not a benefit for the purpose of calculating the aggregate amount of Excluded Benefits; and (ii) if the Borrower is a commercial tenant, the aggregate reduction in such Borrower’s rental payments resulting from a property owner’s application for a forgivable loan pursuant to the CECRA program are a benefit for the purpose of calculating the aggregate amount of Excluded Benefits.

Excluded Benefits means any of the following—

Examples of Excluded Benefits in a sentence

• The Normal Cost is equal to the prorated cost for the year of the valuation.Benefits Excluded Benefits related to retiree dental and life insurance have beenexcluded from this valuation.

• A large number of complaints on a particular issue not only reflects that data collectors have not been acting in compliance with their requirements but also that the regulator (in this case DPA) may have failed to take appropriate regulatory or supervisory actions to curb such malpractices.

• Excluded Benefits may include small and insignificant one-off amounts paid as part of an annual salary review.

• These Regulations amend the Employer-Financed Retirement Benefits (Excluded Benefits for Tax Purposes) Regulations 2007 (S.I. 2007/3537) (the “2007 Regulations”).

• In this case, in applying the provisions on the Variable Remuneration component to 26 In the case of marginal allocations, granted to personnel on a non-discretionary basis, which are part of a general policy of the bank and which do not have an effect in terms of risk-taking or risk-control incentives, such allotments fall within the Excluded Benefits.

More Definitions of Excluded Benefits

Excluded Benefits has the meaning set forth in Section 6.7(a). Annex I - 6

Excluded Benefits means benefits in excess of the Benefits Cap.

Excluded Benefits referenced in this Part means the aggregate amount of the benefits you have received, or are expecting to receive by December 31, 2020, in support or subsidies under any other GOC COVID response program (“GOC COVID Response Programs”) including the ones listed at the end of this Attestation. For clarity, while the Canada Emergency Commercial Rent Assistance (“CECRA”) program is a GOC COVID Response Program, it is understood that: (i) if you are a commercial property owner, forgivable loan(s) received or to be received by you from the GOC pursuant to the CECRA program are not a benefit for the purpose of calculating the aggregate amount of Excluded Benefits; and (ii) if you are a commercial tenant, the aggregate reduction in your rental payments resulting from a property owner’s application for a forgivable loan pursuant to the CECRA program are a benefit for the purpose of calculating the aggregate amount of Excluded Benefits.

Excluded Benefits has the meaning set forth in Section 7.1(a).

Excluded Benefits means, with respect to each Retained Employee, (i) the following benefits arising or accruing prior to the Sale Commencement Date: (v) vacation days or vacation pay, (w) sick days or sick leave or any other form of paid time off, (x) maternity leave or other leaves of absence, termination or severance pay, and (y) ERISA coverage and similar contributions and/or (ii) any benefits in excess of the Benefits Cap, including any payments due under the Worker Adjustment Retraining Notification Act (“WARN Act”).

Excluded Benefits referenced in this Part means the aggregate amount of the benefits you have received, or are expecting to receive by December 31, 2020, in support or subsidies under any other GOC COVID response program (“GOC COVID Response Programs”) including the ones listed at the end of this Attestation.

Excluded Benefits means the following benefits, except as provided in Section 4.1(a): maternity leave or other leaves of absence, termination or severance pay, union dues or other amounts due under any union contract or collective bargaining agreement, pension benefits, ERISA coverage and similar contributions, and payroll taxes, worker’s compensation, and health insurance benefits, and any other benefits in excess of the Benefits Cap, including any payments due under the Worker Adjustment Retraining Notification Act (“WARN Act”).