Calculation of Lump Sum Payment Sample Clauses

Calculation of Lump Sum Payment. The monthly Lump Sum Payment shall be calculated and adjusted as follows:
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Calculation of Lump Sum Payment. Calculation of any lump sum payable under this Section 2.1. 2.1 shall be as follows: Executive shall receive the greater of: (1) the present value of the Normal Retirement Benefit based upon 20 years of monthly installment payments, which are to be calculated commencing with the date of the first payment received by the Executive under Section 2.1 of this Agreement, less any monthly payments already received by the Executive under Section 2.1 of this Agreement; or (2) the present value of the Normal Retirement Benefit based upon a lifetime benefit, which is to be calculated commencing with the date of the first payment received by Executive under Section 2.1, and ending on a date in the future that is calculated to be the Executive's actuarial life expectancy, plus five years, less any monthly payments already received by the Executive under Section 2.4.2 of this Agreement. The Executive's actuarial life expectancy shall be determined
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Calculation of Lump Sum Payment. Calculation of any lump sum payable under this Section 2.1.3 shall be the present value of the Normal Retirement Benefit based upon fifteen (15) years of monthly installment payments, which are to be calculated commencing with the date of the first payment received by the Executive under Section 2.1 of this Agreement, less any monthly payments already received by the Executive under Section 2.1 of this Agreement;
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Calculation of Lump Sum Payment. The following procedure shall be used to ------------------------------- calculate lump sum payments under Section 3 (i) of the Agreement: (a) At the time the Employee terminates from employment with eligibility for a future benefit from the Retirement Plan for Salaried Employees of Cyprus Amax Minerals Company (the "Retirement Plan"), the Company shall make an "interim" payment to the Employee. This interim payment shall be based on an estimate of the projected benefits the Employee will receive from the Retirement Plan and the related estimated additional benefits under the Agreement based on the facts and circumstances at the time the estimates are made. (b) When the Employee attains the earliest retirement age (or would have attained such age but for death) which was used to calculate the interim payment, the Company shall recalculate the benefits under the Agreement using the benefit actually paid, if any, from the Retirement Plan. If such recalculation results in an amount under the Agreement that is larger than the interim payment previously paid to the Employee, the Company shall make an additional payment under the Agreement to make up the difference between the interim payment and the recalculated amount. 100
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Calculation of Lump Sum Payment. The lump sum payment provided for in Paragraph 3 above shall be calculated by applying a discount rate equal to the applicable annual interest rate established by the Pension Benefit Guaranty Corporation for purposes of determining the present value of an immediate annuity distributable to a plan participant upon plan termination for the second month preceding the month in which the Change of Control Transaction occurs.
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Related to Calculation of Lump Sum Payment

  • Lump Sum Payment If an individual JOC Task Order is scheduled for Completion within forty-five (45) days or less, the County will make one payment after thirty (30) days of Work to the Contractor, exclusive of retention. Contractor may request for one payment (including retention payment); however, payment will be made after Final Acceptance of the JOC Task Order.

  • Lump Sum Payments The retiring allowance shall be paid in annual instalments, to a maximum of three

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Notification of Non-payment The Global Agent shall forthwith notify Freddie Mac by facsimile, e-mail or other rapid means of communication if it has not received the full amount for any payment due in respect of the Notes on the date such payment is due. The Global Agent shall have no liability, responsibility, duty or obligation to any Holder or beneficial owner of Notes to take any action against Issuer in the event that Issuer fails to make available funds sufficient to pay amounts due and payable and owing to any Holder on any Payment Date. The Global Agent shall give issuance instructions to DTC in accordance with DTC’s procedures.

  • Calculation and Payment of Additional Rent Tenant shall pay to Landlord, in the manner set forth in Section 4.4.1, below, and as Additional Rent, Tenant’s Share of Direct Expenses for each Expense Year.