Notional Account. In consideration for the Rule of 82, changes to indexing, and changes to survivor benefits each as described below, the Notional Account will be eliminated in respect of all members, former members and beneficiaries of the plan and the elimination shall be confirmed by the obtaining of a ll necessary orders (including an order varying the order of Mr. J ustice Xxxxxxx dated November 4, 1991). The Union will take, on an expeditious basis, all steps as may be required in order to obtain the necessary orders and will su pport Hydro in any steps Hydro may be required to take. Each part y shall bear its own cos ts. Rule of 82 Effective July 1, 2000 , any member who on the date of retirement is represented by the Power Workers’ Union may, on or afte r the first day of the month in which the sum of the member's age in years and years of continuou s employment is equal to or greater than eighty two (82), receive a pension that is on e hundred percent (100%) of the member's earned pension computed in accordance with the rules of the Pension Plan, in particular, rule 6. Indexing Effective on the date the Notional Account is eliminated, the plan shall be amended, in respect of members and former members who immediately prior to termination of employment were members of the Union, to increase pension benefits on J anuary 1st of each year by one hundred percent (100 %) of the increase in the Consumer Price Index, up to a maximum of eight percent (8%) per year. In the event that the increase in the CPI exceeds eight percent (8 %), the increase shall be carried forward to future years. In the event that the CP I decreases, the percentage decrease shall be applied in determining subsequent increases in pension benefits. A decrease in the CPI shall not reduce pension benefits in payment. Changes to indexing as described in this section are subject to the condition precedent that the Notional Account will be eliminated for all members and former members and confirmation thereof by order as set out above. In the absence of such an amendment and elimination of the Notional Account, the pensions of members and former members who immediately prior to termination of employment were members of the Union will be increased by one hundred percent (100%) of the increase in the CPI effectiv e J anuary 1, 1999 and J anuary 1, 2000 and the cost of such indexing shall be charged to the Notional Account in the same way as was done in respect of the increase on J anuary 1, 1998.
Notional Account. The Distributor will maintain and record a notional account (the “Notional Account”) to which:
Notional Account. (a) All Maintenance Payments paid by the Lessee to the Lessor will, on receipt by the Lessor, irrevocably and unconditionally be the sole and exclusive property of the Lessor, subject only to the express provisions of this Agreement. The Lessor (or its designee) or the Owner Participant may co-mingle Maintenance Payments with its general funds and will not hold such funds as agent or on trust for the Lessee or in any similar capacity. The Lessor or the Owner Participant may assign or pledge its interest in, or otherwise create a Security Interest in respect of, the Maintenance Payments, to the Security Trustee. No interest shall accrue or be paid by the Lessor any time to the Lessee.
