Average Age Sample Clauses

The "Average Age" clause defines how the average age of a group, typically of insured individuals or plan participants, is calculated for the purposes of a contract or policy. This clause usually specifies the method for determining the average, such as using the sum of all ages divided by the number of individuals, and may clarify which date is used for age calculation (e.g., policy start date). Its core function is to provide a standardized basis for pricing, eligibility, or benefits calculations, ensuring consistency and fairness in applying age-related provisions.
Average Age. 1. The Fleet Average Age for Van Type or Integral Buses may not be more than 8.5 years. 2. The Fleet Average Age for Body on Chassis Type Buses may not be more than 9.5 years.
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Average Age. 1. For the 2015-2016 school year, the Fleet Average Age for "van" type vehicles for all Milwaukee Public School contracts may not be more than 7.5 years. 2. For the 2015-2016 school year, the Fleet Average Age for "body on chassis" type vehicles may not be more than 8.5 years.
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Average Age. As of any Determination Date, an amount equal to (a) the aggregate sum of (i) the number of Eligible Containers multiplied by (ii) the age of such Eligible Containers, divided by (b) the aggregate number of all Eligible Containers. Balance Sheet Date. September 30, 2007. Borrower. As defined in the preamble hereto. Breakage Cost. With respect to any Lender with respect to any Breakage Prepayment, an amount equal to the difference (as reasonably determined by such Lender and set forth in a certificate of such Lender delivered to the Borrower) of (a) such Lender’s cost of obtaining funds for the LIBOR Rate Loan that is the subject of such Breakage Prepayment for the period from the date of such Breakage Prepayment to the last day of the Interest Period in effect (or that would have been in effect) for such LIBOR Rate Loan, minus (b) the amount of interest likely to be realized by such Lender in redeploying the funds released or not utilized by reason of such Breakage Prepayment for such period.
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Average Age. As of any Determination Date, an amount equal to the quotient of (a) the sum, for each vintage year (based on date of original manufacture), of an amount equal to the product of (i) the number of Containers in the Borrower Fleet (including any Container subject to a Direct Finance Lease) included in such vintage year, multiplied by (ii) the age of such Containers (measured from the date of manufacture thereof) divided by (b) the aggregate number (measured in units) of all such Containers in the Borrowing Fleet. Balance Sheet Date. December 31, 2009. Bankruptcy Code. The Bankruptcy Reform Act of 1978, as amended. Bankruptcy Event. For any Person, any of the following events:
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Average Age. As of any Determination Date, an amount equal to the quotient of (a) the sum, for each vintage year (based on date of original manufacture), of an amount equal to the product of (i) the number of Containers in the Borrower Fleet (including any Container subject to a Direct Finance Lease) included in such vintage year, multiplied by (ii) the age of such Containers (measured from the date of manufacture thereof) divided by (b) the aggregate number (measured in units) of all such Containers in the Borrowing Fleet.
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Average Age. As of any Determination Date, an amount equal to (a) the aggregate sum of (i) the number of Eligible Containers multiplied by (ii) the age of such Eligible Containers, divided by (b) the aggregate number of all Eligible Containers. Balance Sheet Date. September 30, 2007.
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Average Age. As of any Determination Date, an amount equal to the quotient of (a) the sum, for each vintage year (based on date of manufacture) of an amount equal to the product of (i) the number of Containers (including any Container subject to a Direct Finance Lease) included in such vintage year, multiplied by (ii) the age of such Containers (measured from the date of manufacture thereof) divided by (b) the aggregate number (measured in units) of all such Containers. Balance Sheet Date. May 31, 2007. Bankruptcy Code. The Bankruptcy Reform Act of 1978, as amended. Base Rate. The higher of (a) the variable annual rate of interest so designated from time to time by the Agent as its “prime rate”, such rate being a reference rate and
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Average Age. As of any Determination Date, an amount equal to the quotient of (A) the sum, for each Container (including a Container subject to a Direct Finance Lease), of an amount equal to the product of (i) the Net Book Value (or, if the Container is subject to a Direct Finance Lease, the Net Present Value of Direct Finance Lease Receivables) of such Container (including Containers subject to a Direct Finance Lease), multiplied by (ii) the age of such Container (including a Container subject to a Direct Finance Lease), in each case, measured from the date of manufacture thereof, divided by (B) the an amount equal to the sum of the Aggregate Net Book Value and the Aggregate Net Present Value of Direct Finance Lease Receivables.
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Related to Average Age

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

  • Credited Service In addition to Current Credited Service the Adopting Employer may include as Credited Service the following types of service:

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Early Retirement Age The age set by the Employer in the Adoption Agreement, not less than age fifty-five (55), at which a Participant becomes fully vested and is eligible to retire and receive his or her benefits under the Plan.

  • Mileage Measurement Where required, the mileage measurement for LIS rate elements is determined in the same manner as the mileage measurement for V&H methodology as outlined in NECA Tariff No. 4.