Automatic Payment Pool definition

Automatic Payment Pool means the sum of Two Million Two Hundred and Sixty-Five Thousand Dollars and Zero Cents ($2,265,000.00) that will be reserved to make the Automatic Payments as provided for in Section 12.1(a) below.
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Automatic Payment Pool means the sum that will be used to make the Automatic Payments as provided for in Section 11(b) below.
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Examples of Automatic Payment Pool in a sentence

  • Within thirty (30) days after receiving the second payment from Defendant in accordance with Section 4(a)(ii) above, the Settlement Administrator shall mail to each Settlement Class Member whose address on the Settlement Class List is in a State other than California an Automatic Payment Check equal to a pro rata share of the Automatic Payment Pool via First Class United States Mail, postage prepaid.

  • One Hundred Five Thousand Nine Hundred Dollars and Zero Cents ($105,900.00) shall be preliminarily allocated for the Automatic Payment Pool which allocation may be increased by the Unclaimed Amount pursuant to Section 4(b)(v) below.

  • Two Million Two Hundred Sixty Five Thousand Dollars and Zero Cents ($2,265,000.00) shall be allocated for the Automatic Payment Pool, from which the Settlement Administrator shall fund Automatic Payments to Class Members in accordance with Section 12.1(a) below.

  • Any amounts in the Claims Pool in excess of what will be required to issue all Claim Checks (the “Unclaimed Amount”) shall instead become part of the Automatic Payment Pool.

  • Any funds remaining in the Automatic Payment Pool after the Automatic Payment Checks become void shall become part of the Net Settlement Fund.

Related to Automatic Payment Pool

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • 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.

  • Non-Payment Period Rate means, initially, 200% of the applicable Reference Rate (or 275% of such rate if the Corporation has provided notification to the Auction Agent prior to the Auction establishing the Applicable Rate for any dividend pursuant to paragraph 2(f) hereof that net capital gains or other taxable income will be included in such dividend on shares of AMPS), provided that the Board of Directors of the Corporation shall have the authority to adjust, modify, alter or change from time to time the initial Non-Payment Period Rate if the Board of Directors of the Corporation determines and Moody's and S&P (and any Substitute Rating Agency in lieu of Moody's or S&P in the event either of such parties shall not rate the AMPS) advise the Corporation in writing that such adjustment, modification, alteration or change will not adversely affect their then-current ratings on the AMPS.