Five Year Rate Reset Installment Option Sample Clauses

Five Year Rate Reset Installment Option. This option provides for payment in six (6) equal annual installments of the value of the General Account Assets. The first installment will be due and payable not later than six (6) months after the Termination Date and additional installments will be due and payable on each of the next five (5) annual anniversaries of the Termination Date. Each such installment will be reduced by the Expenses determined in Section 3.04, including any Expenses incurred for services provided while installment payments are being made. During the installment payment period commencing with the Termination Date, interest will be credited to the unpaid assets held under this Agreement at the Guaranteed Interest Rate credited to the Guaranteed Interest Account as of the Termination Date for the duration of the Rate Period in which the Termination Date occurs. At the same time that MassMutual would otherwise provide Effective Communication of the Guaranteed Interest Rate for subsequent Rate Periods, as specified in the Guaranteed Investment Account Schedule, MassMutual will also provide the installment interest rate under this option that will apply for such Rate Period. In no event will this interest rate be less than the Agreement Minimum Interest Rate. Benefit payments will not be made during the installment payment period.
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Related to Five Year Rate Reset Installment Option

  • First Year Wage Adjustment Effective July 1, 2017, all salary ranges and rates shall be increased by two percent (2.0%), rounded to the nearest cent. The compensation grids for classes covered by this Agreement are contained in Appendix E-1. Employees shall convert to the new compensation grid as provided in Section 2.

  • Second Year Wage Adjustment Effective July 1, 2020, all salary ranges and rates shall be increased by two and one-half percent (2.50%), rounded to the nearest cent. Salary increases provided by this Section shall be given to all employees including those employees whose rates of pay exceed the maximum rate for their class. The compensation grids for classes covered by this Agreement are contained in Appendix E-2. Conversion to the new compensation grid shall not change an employee’s eligibility for step progression increases.

  • Grant Amount The maximum amount payable by the State under this Agreement shall not exceed $2,000,000

  • Rate Redetermination for Market Change In the event of delay or interruption, exceeding 90 days, under B8.33, Contracting Officer shall make an appraisal to determine for each species the difference between the appraised unit value of Included Timber immediately prior to the delay or interruption and the appraised unit value of Included Timber immediately after the delay or interruption. The appraisal shall be done after any rate redetermination done pursuant to B3.31, using remaining volumes. Tentative Rates and Flat Rates in effect at the time of delay or interruption or established pursuant to B3.31 will be reduced, if appraised rates declined during the delay or interruption, to become Current Contract Rates. Increases in rates will not be considered. Accordingly, Base Rates shall be adjusted to correspond to the redetermined rates if redetermined rates are less than the original Base Rates, subject to a new Base Rate limitation of the cost of essential reforestation or 25 cents per hundred cubic feet or equivalent, whichever is larger. However, existing Base Indices shall not be changed under this Subsection. Redetermined rates shall be considered established under B3.1 for timber Scaled subsequent to the delay or interruption.

  • C4 Price adjustment on extension of the Initial Contract Period C4.1 The Contract Price shall apply for the Initial Contract Period. In the event that the Client agrees to extend the Initial Contract Period pursuant to clause F8 (Extension of Initial Contract Period) the Client shall, in the 6 month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than 30 Working Days) to agree a variation in the Contract Price.

  • Payment Options The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option, as indicated on the cover page hereof:

  • Recurring Instalment Payments 15.1 Where you have a Citibank ATM/Debit Card which allows you to make Card Transactions:

  • Payroll Deduction of Fair Share Fee The Board shall deduct from the pay of all employees in the bargaining unit who elect not to become or to remain members of the Association, a Fair Share Fee for the Association’s representation of such non-members during the term of this Agreement. No non-member filing a timely demand shall be required to subsidize partisan political or ideological causes not germane to the Association’s work in the realm of collective bargaining.

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Salary Rate Calculation and Payment The biweekly salary rate of employees serving on twelve (12) month (calendar year) appointments shall be calculated by dividing the calendar year salary rate by 26.1 pay periods.

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