Required Allocation Sample Clauses
The Required Allocation clause sets out the specific distribution or assignment of resources, responsibilities, or benefits among parties as mandated by the agreement. In practice, this clause may dictate how profits, costs, or assets are divided, or it may require each party to contribute a certain amount of capital or effort to a joint venture. Its core function is to ensure that all parties clearly understand and fulfill their obligations regarding allocation, thereby preventing disputes and promoting fairness in the execution of the contract.
Required Allocation. The amount of Employer contributions and forfeitures which shall be allocated to the account of any active Member who (a) is employed by an Employer or Affiliate on the last day of the Plan Year and (b) is not a Key Employee shall be (i) at least three percent (3%) of such Member’s Total Earnings for such Plan Year up to the Compensation Limit of the Plan Year (as defined in Section 1.11 hereof), or, (ii) if less, an amount equal to such Total Earnings multiplied by the highest allocation rate for any Key Employee. For purposes of the preceding sentence, the allocation rate for each individual Key Employee shall be determined by dividing the employer contributions and forfeitures allocated to such Key Employee’s account (including Elective Contributions) under all Applicable Plans, considered together by his Total Earnings up to such Compensation Limit; provided, however, that clause (ii) above does not apply if this Plan enables a defined benefit plan required to be so aggregated under Section 15.1.1 above to meet the requirements of section 401(a)(4) or 410 of the Code. The minimum allocation provisions of this Section 15.2.1 shall, to the extent necessary, be satisfied by special Employer contributions made by the Employer for that purpose. Notwithstanding the foregoing, the minimum allocations otherwise required by this Section 15.2.1 shall not be required to be made for any Member (y) if such Member is covered under a defined benefit plan maintained by an Employer or an Affiliate which provides the minimum benefit required under section 416(c)(1) of the Code, and/or (z) to the extent that the minimum allocation otherwise required by this Section 15.2.1 is made under another defined contribution plan maintained by an Employer or an Affiliate. In addition, any minimum allocation required to be made for a Member who is not a Key Employee shall be deemed satisfied to the extent of the benefits provided by any other qualified plan maintained by an Employer or an Affiliate. For Plan Years beginning on or after January 1, 1989, Elective Contributions by a non-Key Employee shall be disregarded in determining the amount of contributions required to be allocated for his benefit under this Section 15.2.1. For Plan Years beginning on or after January 1, 1989, Matching Contributions by a non-Key Employee that are taken into account to meet the minimum allocation requirements of this Section 15.2.1 shall be disregarded in applying the provisions of Sections 3.3 and...
Required Allocation. The "Required Allocation" at any time means an amount determined as follows: RA = PI + DF + CR + SFR where: RA = the Required Allocation at any time; PI = the Total Purchasers' Investment at such time, as determined pursuant to Section 2.03; DF = the Discount Factor at such time, as determined pursuant to Part I of Appendix B; CR = the Credit Reserve at such time, as determined pursuant to Part II of Appendix B; SFR = the Servicer's Fee Reserve at such time, as determined pursuant to Part IV of Appendix B; and
Required Allocation. The "Required Allocation" of an Undivided Interest at any time means an amount determined as follows: RA=PI + DF + CR + SFR + DR where: RA=the Required Allocation of an Undivided Interest at any time; PI=the Purchaser's Investment of such Undivided Interest at such time, as determined pursuant to Section 2.03; DF=the Discount Factor of such Undivided Interest at such time, as determined pursuant to Part I of Appendix B; CR =the Credit Reserve of such Undivided Interest at such time, as determined pursuant to Part II of Appendix B; SFR=the Servicer's Fee Reserve of such Undivided Interest at such time, as determined pursuant to Part IV of Appendix B; and DR=the Dilution Reserve of such Undivided Interest at such time as determined pursuant to Part III of Appendix B. The "related" Undivided Interest with respect to any of the foregoing items shall mean the Undivided Interest as to which such item is calculated.
Required Allocation. 11 2.03. Purchaser's Investment......................................12 2.04. Net Pool Balance............................................13 2.05.
Required Allocation. 7 2.03. Purchaser's Investment. . . . . . . . . . . . . 7 2.04. Net Pool Balance. . . . . . . . . . . . . . . . 8 2.05.