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

  • A Participant’s Deferred Payments may be made or commenced at any time, and may be paid in a Lump Sum or in one (1) to fifteen (15) Annual Installment Payments, as the Participant shall select on the Election Form initially filed by the applicable Election Date, and as may be subsequently changed, subject to Section 7.3, on or prior to his Final Deferral Filing Date, and only the last Election Form filed on or before such Final Deferral Filing Date shall be effective.

  • Each Member hereby waives any and all rights and claims that it may otherwise have under this Agreement (or the Act as it applies to this Agreement) against the other Members and their Affiliates (including, if applicable, the Manager) as a result of any of such activities.

  • 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.

  • Steps taken by the company for utilizing alternate sources of energy: Steps are already afoot for generating power from the agricultural waste.

  • Prior to the beginning of each subsequent Plan Year, the Participant shall elect to receive the Termination Benefit payable with respect to amounts credited to the Participant’s Deferral Account during such subsequent Plan Year as a single lump sum or as Annual Installment Payments paid annually over a period of two to ten years, at the Participant’s election.

  • Annual Installment Payments made after the first installment will be made in January of each following Plan Year until the total number of Annual Installments has been paid, not to exceed the Number of Annual Installments listed above that corresponds with the applicable Years of Service.

  • 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.

  • Moved by Councillor Anderson, seconded by Councillor Macintosh THAT the report of the Acting Treasurer, dated September 10, 2020, regarding Development Charges Changes, be received; AND THAT the Development Charge Annual Installment Payments Policy, be approved; AND THAT the Development Charge Calculation Policy, be approved; AND THAT the Development Charge Interest Policy with a 5% fixed rate, be approved as amended.-Carried-9.

  • A Participant's Deferred Payments may be made or commenced at any time, and may be paid in a Lump Sum or in one (1) to fifteen (15) Annual Installment Payments, as the Participant shall select on the Election Form in effect on his Final Deferral Filing Date, and only the last Election Form filed on or before such Final Deferral Filing Date shall be effective.

  • New Section 4.8 is added to the Plan and shall read as follows: 4.8 Treatment of Annual Installment Payments.

Related to Annual Installment Payments

  • Annual Installment means the portion of the PACE loan that is due and payable for a particular year under the supplemental agreement.

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Installment Payment has the meaning ascribed to it in Section 2.02(a).

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • Principal Installment means, as of any date of calculation, (i) the aggregate principal amount of Outstanding Bonds due on a certain future date, reduced by the aggregate principal amount of such Bonds which would be retired by reason of the payment when due and application in accordance with the Resolution of Sinking Fund Payments payable before such future date plus (ii) the unsatisfied balance, determined as provided in the Resolution, of any Sinking Fund Payments due on such certain future date, together with the aggregate amount of the premiums, if any, applicable on such future date upon the redemption of such Bonds by application of such Sinking Fund Payments in a principal amount equal to said unsatisfied balance.

  • Installment Due Date means, for any monthly installment of interest only or principal and interest, the date on which such monthly installment is due and payable pursuant to Section 3 of this Note. The "First Installment Due Date" under this Note is October 1, 2007.

  • Installment Amount means the sum of (A) (i) with respect to any Installment Date other than the Maturity Date, the lesser of (x) the quotient of (I) the Principal amount outstanding under this Note as of the initial Installment Date, divided by (II) the number of Installment Dates occurring hereunder (as determined as of the initial Installment Date assuming no Deferrals, Accelerations, redemptions or conversions hereunder prior to the Maturity Date) and (y) the Principal amount then outstanding under this Note as of such Installment Date, and (ii) with respect to the Installment Date that is the Maturity Date, the Principal amount then outstanding under this Note as of such Installment Date (in each case, as any such Installment Amount may be reduced pursuant to the terms of this Note, whether upon conversion, redemption or Deferral), (B) any Deferral Amount deferred pursuant to Section 8(d) and included in such Installment Amount in accordance therewith, (C) any Acceleration Amount accelerated pursuant to Section 8(e) and included in such Installment Amount in accordance therewith and (D) in each case of clauses (A) through (C) above, the sum of any accrued and unpaid Interest and Make-Whole Amount with respect thereto as of such Installment Date under this Note, if any, and accrued and unpaid Late Charges, if any, under this Note as of such Installment Date. In the event the Holder shall sell or otherwise transfer any portion of this Note, the transferee shall be allocated a pro rata portion of the each unpaid Installment Amount hereunder.

  • Installment Date as defined in Section 2.12.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Incremental Term Loan Installment Date shall have, with respect to any Class of Incremental Term Loans established pursuant to an Incremental Assumption Agreement, the meaning assigned to such term in Section 2.10(a)(ii).

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Individual Settlement Payment means the amount payable from the Net

  • Deferral Amount means the sum of all of a Participant's Annual Deferral Amounts.

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Minimum Payments $50 (with respect to all funds in the aggregate.) No payment pursuant to this Schedule is payable to a dealer, bank or other service provider for the first year with respect to sales of $1 million or more, at no load, in cases where A I M Distributors, Inc. has advanced the service fee to the dealer, bank or other service provider.

  • Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

  • Term Loan Installment Date means any Term B Loan Installment Date or any Incremental Term Loan Installment Date.

  • Quarterly Payment Date means the last Business Day of each March, June, September and December.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Initial Payment means the dollar amount specified as the “Initial Payment” in the applicable Purchase Agreement.

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.