Actual Contribution Percentage Sample Clauses

Actual Contribution Percentage. The ratio defined in Section 3.5(A)(1)(a) for purposes of the ACP Test.
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Actual Contribution Percentage. The ratio of (i) the ACP Contribution Xxxxxxx actually paid over to the Trust on behalf of a Participant who was an Active Participant at any time during the Plan Year to (ii) such Participant’s Testing Compensation for the Plan Year.
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Actual Contribution Percentage. (i) The Actual Contribution Percentage for Participating Employees who are Highly Compensated Employees for each Plan Year and the Actual Contribution Percentage for Participating Employees who are not Highly Compensated Employees for the same Plan Year must satisfy one of the following tests:
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Actual Contribution Percentage. The term “Actual Contribution Percentage” means, for a specified group of Participants (either Highly Compensated Employees or Non-Highly Compensated Employees) for a Plan Year, the average of the Contribution Percentages of the “Eligible Participants” in a group. An Actual Contribution Percentage for a specified group of Participants will be calculated to the nearest hundredth of a percentage point. For purposes of this definition, the term “Eligible” Participant” means any Employee (either a Highly Compensated Employee or a Non-Highly Compensated Employee) who is eligible (a) to make a Voluntary Employee Contribution, (b) to make a Mandatory Employee Contribution, (c) to make an Elective Deferral (if the Sponsoring Employer takes such Elective Deferrals into account in the calculation of the Contribution Percentage), (d) to receive a Matching Contribution (including Forfeitures that are contingent upon the Participant making Elective Deferrals or Employee Contributions), or (e) to receive a Qualified Matching Contribution. If an Employee Contribution is required as a condition of participation in the Plan, then any Employee who would be a Participant if such Employee made such a contribution will be treated as an “Eligible Participant” on behalf of whom no Employee Contributions are made.
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Actual Contribution Percentage. (i) The term “
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Actual Contribution Percentage. The Actual Contribution Percentage means, with respect to Highly Compensated Employees, the average of the Actual Contribution Ratios calculated separately for each Highly Compensated Employee. A similar Actual Contribution Percentage shall be calculated for eligible Nonhighly Compensated Employees by taking the average of the Actual Contribution Ratio for each eligible Nonhighly Compensated Employee. The Actual Contribution Ratio means the sum of Matching Contributions and Qualified Nonelective Contributions that are treated as Matching Contributions by the Employer divided by the Participant’s Testing Compensation. For Plan Years beginning after December 31, 1988, such calculation shall be to the nearest one-hundredth of one percent. If a Highly Compensated Employee is eligible to participate in more than one 401(m) arrangement of the same Employer, the Actual Contribution Percentage shall be calculated by treating all such 401(m) arrangements which are part of an employee stock ownership plan described in Section 4975(e)(7) or 409 of the Code as one arrangement and by treating all other 401(m) arrangements as a separate arrangement. For Plan Years beginning after December 31, 1988, if a Highly Compensated Employee participates in two or more 401(m) arrangements which have different plan years, all such arrangements ending with or within the same calendar year which are required to be aggregated shall be treated as a single arrangement. A 401(m) arrangement which consists of contributions which are not designed to be invested primarily in Qualifying Employer Securities and Employer Securities shall be considered a separate plan which is not an employee stock ownership plan.
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Actual Contribution Percentage. The "Actual Contribution Percentages" for the Highly Compensated Participant Group and the Standard Participant Group shall be the average of the ratios (calculated separately for each Employee in each group) of the amount of the voluntary after-tax contributions made by such Employee in the group for the relevant Plan Year to such Employee's Earnings for such Plan Year.
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Actual Contribution Percentage. For purposes of this Section 4.10, the Actual Contribution Percentage for a Plan Year or the prior Plan Year as determined by the Plan Administrator in accordance with the Code and Treasury Regulations means, with respect to all Highly Compensated Employees and all Nonhighly Compensated Employees who were eligible to contribute Section 401(k) Contributions, and all who would be eligible to receive an allocation of a Matching Contribution pursuant to Section 4.10, whether or not such Employee elected to make Section 401(k) Contributions pursuant to Section 4.10, the average of the ratios, calculated separately for each Participant in each group, of Matching Contributions and forfeitures allocated to the Participant’s Matching Contribution Account for such Plan Year to such Participant’s 415 Compensation for such Plan Year. Matching Contributions that are forfeited due to either the return of Section 401(k) Contributions in excess of the maximum deferral Amount or the distribution of Section 401(k) Contributions in accordance with Section 4.1 shall not be included when calculating the ratio for each Nonhighly Compensated Employee. Matching Contributions that are forfeited shall not be included when calculating the ratio for each Highly Compensated Employee. Matching Contributions that are forfeited due to the return of Section 401(k) Contributions in excess of the maximum deferral amount or due to amounts returned pursuant to Section 4.1 shall not be included when calculating the ratio for each Highly Compensated Employee.
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Related to Actual Contribution Percentage

  • DISTRIBUTION OF EXCESS AGGREGATE CONTRIBUTIONS The Advisory Committee will determine excess aggregate contributions after determining excess deferrals under Section 14.07 and excess contributions under Section 14.08. If the Advisory Committee determines the Plan fails to satisfy the ACP test for a Plan Year, it must distribute the excess aggregate contributions, as adjusted for allocable income, during the next Plan Year. However, the Employer will incur an excise tax equal to 10% of the amount of excess aggregate contributions for a Plan Year not distributed to the appropriate Highly Compensated Employees during the first 2 1/2 months of that next Plan Year. The excess aggregate contributions are the amount of aggregate contributions allocated on behalf of the Highly Compensated Employees which causes the Plan to fail to satisfy the ACP test. The Advisory Committee will distribute to each Highly Compensated Employee his respective share of the excess aggregate contributions. The Advisory Committee will determine the respective shares of excess aggregate contributions by starting with the Highly Compensated Employee(s) who has the greatest contribution percentage, reducing his contribution percentage (but not below the next highest contribution percentage), then, if necessary, reducing the contribution percentage of the Highly Compensated Employee(s) at the next highest contribution percentage level (including the contribution percentage of the Highly Compensated Employee(s) whose contribution percentage the Advisory Committee already has reduced), and continuing in this manner until the ACP for the Highly Compensated Group satisfies the ACP test. If the Highly Compensated Employee is part of an aggregated family group, the Advisory Committee, in accordance with the applicable Treasury regulations, will determine each aggregated family member's allocable share of the excess aggregate contributions assigned to the family unit.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Mutual Contribution The parties to this Agreement and their counsel have mutually contributed to its drafting. Consequently, no provision of this Agreement shall be construed against any party on the ground that such party drafted the provision or caused it to be drafted or the provision contains a covenant of such party.

  • Original Class A Percentage The Original Class A Percentage is 96.79331905%.

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04.

  • Initial Contribution The capital contributions to be made by the Member and with which the Company shall begin business are as follows: Member Name Contribution Membership Interest Century Land Holdings, LLC $ 1,000.00 100 %

  • Capital Contributions; Percentage Interest The Members shall make contributions to the Company in an amount approved by the Members. No Member shall be required or permitted to make any additional contributions without the consent of all of the Members. The percentage interest of each Member in the Company shall be as set forth in the books and records of the Company, as amended from time to time by Managing Member consent.

  • Catch-Up Contributions Unless otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make elective deferrals under this plan and who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into account for purposes of the provisions of the plan implementing the required limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to satisfy the provisions of the plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

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