Recalculation. If the Participant so elects, the life expectancy of a Participant and/or his spouse may be recalculated no more frequently than annually if such election is irrevocable, is made no later than the date benefits must commence under Section 8.5, and is applicable to all subsequent years. If recalculation is applicable, the life expectancy of the participant or spouse shall be determined using his or her age as of his or her birthday in each succeeding calendar year.
Recalculation. If, notwithstanding the initial application of this Section 9, the Internal Revenue Service determines that all or any portion of any Covered Payment constitutes an excess parachute payment (as defined in Section 280G(b) of the Code), this Section 9 will be reapplied based on the Internal Revenue Service’s determination, and the Executive will be required to promptly repay the portion of the Covered Payments required to avoid imposition of an excise tax under Section 4999 of the Code together with interest at the applicable federal rate (as defined in Section 7872(f)(2)(A) of the Code) from the date of the Executive’s receipt of the excess payments until the date of repayment).
Recalculation. The Plan Administrator, only upon the Participant's election (under Section 6.02(C)(2)) or the Participant's surviving spouse designated Beneficiary's election, will recalculate the life expectancy of the Participant's surviving spouse not more frequently than annually. However, the Plan Administrator may not recalculate the life expectancy of a nonspouse designated Beneficiary after the Trustee commences payment to the designated Beneficiary. The Plan Administrator will apply this Section 6.02(D) by treating any amount paid to the Participant's child, which becomes payable to the Participant's surviving spouse upon the child's attaining the age of majority, as paid to the Participant's surviving spouse. A surviving spouse designated Beneficiary must elect recalculation under this ss.6.02(D)(3) in writing and on a form the Plan Administrator prescribes not later than the last day of the spouse's first distribution year.
Recalculation. In computing a required minimum distribution, the Plan Administrator must use the unisex life expectancy multiples under Treas. Reg. ss.1.72-9. The Plan Administrator, only upon the Participant's timely election, will compute the required minimum distribution for a distribution calendar year subsequent to the first distribution calendar year by redetermining ("recalculation" of) the Participant's life expectancy or the Participant's and spouse designated Beneficiary's life expectancies as elected. However, the Plan Administrator may not redetermine the joint life and last survivor expectancy of the Participant and a nonspouse designated Beneficiary in a manner which takes into account any adjustment to a life expectancy other than the Participant's life expectancy. A Participant must elect recalculation under this Section 6.02(C)(2) in writing and on a form the Plan Administrator prescribes, not later than the Participant's RBD.
Recalculation. 5.1 If there is an increase or decrease during the Term in the cost or risk to LeasePlan of:
Recalculation. The Borrower will calculate the Annual Debt Service Cover Ratio and the Senior Debt/EBITDA Cover Ratio on each Repayment Date and on the basis of the financial statements most recently delivered to the Agent pursuant to Clauses 18.1.1(a), 18.1.1(b) or as the case may be Clause 9.4.3(c)(ii). The Borrower will prepare a certificate of compliance, which shall be executed on behalf of the Borrower, in respect of the financial covenants in form and substance satisfactory to the Agent and containing details of the calculation of by the Borrower of the financial covenants enabling the Agent to ascertain compliance by the Borrower with the financial covenants.
Recalculation. On the Original Closing Date and on the first day of each calendar quarter, commencing with the calendar quarter beginning October 1, 1995, at such other times as may be requested by the Majority Lenders or the Metra Agent, and at such other time or times as Agent may deem appropriate for the purposes of determining distributions, voting, or any other act under this Agreement to which each Existing Lender's Pro Rata Share may be relevant, the Agent shall recalculate (a "Recalculation") each Existing Lender's Existing Contingent Indebtedness, Existing Loans and Metra Obligations on the basis of Reallocation Certificates most recently submitted pursuant to SECTION 2.13 to determine the amount of each such Existing Lender's Exposure as of each such date (the "Periodic Exposure"). For purposes of voting and of making distributions pursuant to SECTION 2.11, the Agent shall use the Pro Rata Shares and Pro Rata Shares of Deferred Interest determined as of the Original Closing Date until the next Recalculation, and thereafter the Agent shall use the Pro Rata Shares and Pro Rata Shares of Deferred Interest determined as of the most recent Recalculation. In the event that any such Reallocation Certificate states that any Reductions in Liabilities have occurred then the Agent shall: (a) recalculate each Existing Lender's Pro Rata Share; (b) indicate to each Existing Lender who shall have experienced Reductions in Liability, the amount, if any, by which such Existing Lender has received distributions pursuant to this Agreement in excess of the amount such Existing Lender would otherwise be entitled to receive under this Agreement (calculated other than for purposes of accruing interest and fees, as if such Reduction in Liability had occurred before July 1, 1995) and the amount of Obligations, if any, to be purchased by such Existing Lender pursuant to SECTION 12.5(b) by reason of any Reductions of Liability (in which event such Existing Lender shall promptly comply with its obligations under SECTION 12.5(b) of this Agreement); and (c) comply with the Agent's obligations regarding the Contingent Indebtedness Account as more particularly described in SECTION 2.11 above. In the event that any such Reallocation Certificate states that any Conversion Events have occurred, then the Agent shall (a) determine the amount of interest then due and payable on account of any Existing Loans which may have been created by such Conversion Event and so advise the Borrowers and (b) com...
Recalculation. The total floor area of the Premises with ------------- respect to which Tenant shall pay rent shall be the "net rentable area" of space included in the Premises, determined from the Final Plans. Tenant's net rentable area of the Premises presented in Section 1(c) of the Lease and Section 1 of this Exhibit C shall be recalculated by Landlord and amended in this Lease to accurately reflect the net rentable square footage comprising the Premises as soon as Final Plans for the Tenant's Premises are completed. Such recalculation shall be completed no later than thirty (30) days after completion of Final Plans. Any dispute regarding such recalculation shall be resolved by arbitration under Section 9 of this Exhibit C.
Recalculation. The Borrower will calculate the Annual Debt Service Cover Ratio and the Senior Debt/EBITDA Cover Ratio from Financial Close onwards on each Repayment Date under the Pulp Mill Facility and/or the Facility and on the basis of the financial statements most recently delivered to the Agent pursuant to Clauses 16.1.1(a), 16.1.1(b) or as the case may be clause 9.4.3 (c)(ii) of the Pulp Mill Facility Agreement. The Borrower will prepare a certificate of compliance, which shall be executed on behalf of the Borrower, in respect of the financial covenants in form and substance satisfactory to the Agent and containing details of the calculation of by the Borrower of the financial covenants enabling the Agent to ascertain compliance by the Borrower with the financial covenants.
Recalculation. (a) If FibroGen completes a public offering at a price which establishes a market valuation for FibroGen less than eighty million dollars ($80,000,000), .then any payments to Medarex hereunder based upon a market capitalization of FibroGen of eighty million dollars ($80,000,000) or more pursuant to Section 4.4.1(ii) shall be recalculated based upon the market valuation of FibroGen determined by the public offering price and Medarex shall be entitled to the incremental additional shares which Medarex would have received had the prior payment(s) been calculated on the basis of a market valuation determined by the public offering price based on the average of the high and low trading prices of FibroGen’s stock within ninety (90) business days prior to the date of payment.
