Annual Installment Payments definition

Annual Installment Payments means annual payments made to a Participant pursuant to the terms of a Benefit Program, each of which shall be calculated based on the total value of the Participant’s relevant Account balance(s) on the date immediately preceding the date of payment, multiplied by a fraction, the numerator of which shall be one and the denominator of which shall be the number of annual payments, including the payment to be made, remaining in the payment period. For purposes of making any annual installment distributions, the Investment Funds in which the Account(s) that are subject to distribution are invested shall be liquidated on a pro rata basis.
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Annual Installment Payments means yearly payments of a Participant’s Deferral Account, calculated as follows: The first Annual Installment Payment shall be determined by calculating the value of the Deferral Account as of the close of business on the applicable date. The value of the Deferral Account on that date shall be multiplied by a fraction, the numerator of which is one, and the denominator of which is the number of Annual Installment Payments selected by the Participant. Each subsequent Annual Installment Payment shall be determined by calculating the value of the Deferral Account as of the anniversary of such date, and multiplying this amount by a fraction, the numerator of which is one, and the denominator of which is the number of Annual Installment Payments selected by the Participant, minus the number of any Annual Installment Payments previously paid. By way of example, if the Participant elects Annual Installment Payments to be made over a ten year period, the first installment shall be 1/10 of the value of the Deferral Account on the applicable date. The following year, the Annual Installment Payment shall be 1/9 of the value of the Deferral Account as of the anniversary of the applicable date, and so on.
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Examples of Annual Installment Payments in a sentence

  • Upon the request of Seller, Buyer shall provide to Seller (and its legal, accounting and financial Representatives) such financial and other information to allow Seller to determine if Buyer is in compliance with the calculation and payment of any of the Annual Installment Payments.

  • Expenditures which are not specifically allocable to either the Johnstown Sanitary Sewer System or another owned or operated system must be divided in proportion to the equivalent dwelling units billed within each such system and then included in Administrative and Operating Expenses for the purposes of calculating each of the Annual Installment Payments.

  • The Annual Installment Payments shall increase one and one half percent (1.5%) every year of the Lease Term.

  • In such event, Lessee shall pay all Lessee’s Taxes to the appropriate taxing authority prior to delinquency, and Owner shall pay to Lessee Owner’s Taxes prior to delinquency (or Lessee may pay Owner’s Taxes and offset such amount against the Annual Installment Payments).

  • If Owner fails to deliver a SNDA from each Owner Mortgagee, Operator may, at its sole option, either (i) terminate this Agreement immediately upon written notice to Owner, or (ii) take such action as Operator deems reasonably necessary to effect the rights granted to Operator hereunder, and off-set all amounts expended in such efforts against the Annual Installment Payments and any other amounts due hereunder or in respect hereof.

  • All subsequent Annual Installment Payments shall be due on or before February 28th of the calendar year or partial calendar year to which they are attributable during the Term.

  • The Annual Installment Payments shall continue to be paid until January 31, 2059; provided however that all unpaid principal and accrued interest shall be due and payable in full on December 31, 2059 (the “Maturity Date”).

  • Any such Annual Installment Payments shall be applied first to accrued but unpaid interest on the applicable Loan, and the remainder, if any, shall be applied in reduction of the principal balance of the applicable Loan.

  • The payment stated in this subparagraph shall be collectively and individually referred to as the "Annual Installment Payments".

  • If Lessee or any Lessee Mortgagee determines that it would be in ▇▇▇▇▇▇’s interest to make such payments to Owner Mortgagee on Owner’s behalf, whether as a result of receiving such notice or otherwise, ▇▇▇▇▇▇ shall have the right to make such payments and to credit the payments so made against the Annual Installment Payments until ▇▇▇▇▇▇ is fully reimbursed.