Distribution of Excess Sample Clauses

Distribution of Excess. If (i) the amount on deposit in the Reserve Account on any Payment Date (after giving effect to all deposits therein or withdrawals therefrom on such Payment Date) exceeds the Reserve Account Required Amount and (ii) (a) no Trigger Event has occurred or (b) all Trigger Events which have occurred have been Deemed Cured, the Trustee shall distribute an amount equal to any such excess pursuant to the Servicer's Certificate and Section 4.5(a)(viii).
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Distribution of Excess. Payments among the Creditors
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Distribution of Excess. Contributions -
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Distribution of Excess. Contributions - 1. General Rule - Regardless of any other Plan provision, Excess Contributions, as adjusted for earnings and losses, will be distributed on or before the last day of each Plan Year to Participants to whose Individual Accounts those Excess Contributions were allocated for the preceding Plan Year. If those Excess Amounts are distributed more than 2-1/2 months after the last day of the Plan Year in which the Excess Amounts arose, a 10% excise tax is imposed on the Employer maintaining the Plan based on those amounts. These distributions are made to Highly Compensated Employees on the basis of their respective portions of the Excess Contributions. Excess Contributions are allocated to Participants who are subject to the family member aggregation rules of Section 414(q) (6) of the Code in proportion to the combined Elective Deferrals (and amounts treated as Elective Deferrals) of each family member that are combined to determine the combined ADP. Excess Contributions (including the amounts recharacterized) are treated as "annual additions" under the Plan. 2. Determination of Income or Loss - Excess Contributions are adjusted for earnings and losses only until the end of the Plan Year preceding or coinciding with the date of distribution, unless selected in the Adoption Agreement that they will be adjusted for earnings and losses through the date of distribution. The income or loss allocable to Excess Contributions is: (1) income or loss allocable to the Participant's Elective Deferral account (and, if applicable, the Qualified Nonelective Contribution account or the Qualified Matching Contributions account or both) for the Plan Year multiplied by a fraction, the numerator of which is the Participant's Excess Contributions for the year and the denominator of which is the Participant's Individual Account balance attributable to Elective Deferrals (and Qualified Nonelective Contributions or Qualified Matching Contributions, or both, if any of those contributions are included in the ADP test), without regard to any income or loss occurring during that Plan Year; plus, (2) if crediting earnings and losses through the date of distribution is selected in the Adoption Agreement, 10% of the amount determined under (1) multiplied by the number of whole calendar months between the end of the Plan Year and the date of distribution, counting the month of distribution if distribution occurs after the 15th of that month.
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Related to Distribution of Excess

  • Distribution of Cash (a) The Partnership shall distribute cash on a quarterly (or, at the election of the General Partner, more frequent) basis, in an amount determined by the General Partner in its sole and absolute discretion, to the Partners who are Partners on the Partnership Record Date with respect to such quarter (or other distribution period) in accordance with Section 5.2(b).

  • Distribution Date 13 DTC...........................................................................................13

  • Distribution of Shares (a) Subject to the provisions of Paragraphs 6, 7, 10, 11, 12, 13 and 14 hereof, and to such minimum purchase and other requirements as may from time to time be indicated in the Fund's Prospectus, Distributor, acting as principal for its own account and not as agent for the Fund, shall have the right to purchase Shares from the Fund. Distributor shall sell Shares only in accordance with the Fund's Prospectus, on a "best efforts" basis. Distributor shall purchase Shares from the Fund at a price equal to the net asset value, shall sell Shares at the public offering price as defined in Paragraph 8, and shall retain all sales charges.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

  • Distribution of Material A Union-designated employee will have access once per month to their worksite for the purposes of distributing Union information to other bargaining unit employees provided:

  • Distribution The Servicer will prepare the form in duplicate and send the original together with evidence of conveyance of title and appropriate supporting documentation to the Master Servicer with the Monthly Accounting Reports which supports the Mortgage Loan’s removal from the Mortgage Loan Activity Report. The Servicer will retain the duplicate for its own records. Due Date With respect to any liquidated Mortgage Loan, the form will be submitted to the Master Servicer no later than the date on which statements are due to the Master Servicer under Section 4.02 of this Agreement (the “Statement Date”) in the month following receipt of final liquidation proceeds and supporting documentation relating to such liquidated Mortgage Loan; provided, that if such Statement Date is not at least 30 days after receipt of final liquidation proceeds and supporting documentation relating to such liquidated Mortgage Loan, then the form will be submitted on the first Statement Date occurring after the 30th day following receipt of final liquidation proceeds and supporting documentation. Preparation Instructions The numbers on the form correspond with the numbers listed below.

  • Distribution of Profits Any and all net income accruing to the Joint Venture shall be distributed equally to the Parties.

  • Distribution of Assets In case the Company shall declare or make any distribution of its assets (including cash) to holders of Common Stock as a partial liquidating dividend, by way of return of capital or otherwise, then, after the date of record for determining shareholders entitled to such distribution, but prior to the date of distribution, the holder of this Warrant shall be entitled upon exercise of this Warrant for the purchase of any or all of the shares of Common Stock subject hereto, to receive the amount of such assets which would have been payable to the holder had such holder been the holder of such shares of Common Stock on the record date for the determination of shareholders entitled to such distribution.

  • Distribution of Benefit The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Normal Retirement Age. The annual benefit shall be distributed to the Executive for fifteen (15) years.

  • Distribution of Payments On and after the Effective Date, the Agent shall make all payments under the Loan Documents in respect of each Assigned Interest (a) in the case of amounts accrued to but excluding the Effective Date, to Assignor and (b) otherwise, to Assignee.

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