Base Monthly Contribution definition

Base Monthly Contribution means the maximum amount that a Participant may contribute each month to his or her ACE Account (exclusive of any Enhancement Amount), as calculated under the formula set forth in the Contribution Addendum for each applicable Participating Agency, which Addenda are incorporated by reference into this ACE plan document and in no event shall the Base Monthly Contribution exceed $2,000.
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Base Monthly Contribution means the amount that a Participant elects to contribute, each month to his or her Contribution Account (exclusive of any Enhancement Amount), within the limits and as calculated under the formula set forth in the Contribution Addendum for each applicable Participating Agency, which Addenda are incorporated by reference into this ISOP plan document. In no event shall the Base Monthly Contribution exceed $2,000. Notwithstanding the foregoing, the Base Monthly Contribution shall not exceed $3,000 during the period beginning on January 1, 2010 and ending on December 31, 2010 (the “New Horizon Period”) for any Participant so long as: (i) the Participant has completed in a timely manner any New Horizon enrollment form(s) required by the Administrator and (ii) the Participant does not request during the New Horizon Period a partial withdrawal under Section 11.2 (other than a partial withdrawal under Section 11.2(a)(3)), a complete withdrawal under Section 11.3 (other than a complete withdrawal under Section 11.3(b) as a result of death or Disability) or a special ISOP distribution and withdrawal under Section 11.5 (other than a special ISOP distribution and withdrawal under Section 11.5(a) as of the Initial Dream Team I Withdrawal Date, but not in any period succeeding the Initial Dream Team I Withdrawal Date). The additional $1,000 maximum Base Monthly Contribution available to Participants during the New Horizon Period shall be referred to herein as the “New Horizon Enhancement.”
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Examples of Base Monthly Contribution in a sentence

  • If for a given month, the Base Monthly Contribution is less than the Fair Market Value of one Share on the Credit Date, the Participant will not be eligible to make a Contribution that month.

  • A Participant’s elected Enhancement Amount may be equal to the Participant’s Base Monthly Contribution, or a lesser, specified dollar amount.

  • Any Participating Agency may, with approval of the Sponsoring Company, amend the Base Monthly Contribution for such Participating Agency’s participating Agents at any time by filing an amended Contribution Addendum with the Administrator.

  • The monthly Contribution for each Participant shall be equal to the dollar amount required to purchase on the Credit Date, in accordance with Section 5.1 and Section 5.2, the maximum possible number of whole Shares, based on the Fair Market Value of such Shares on the applicable Credit Date, without exceeding the Participant’s Base Monthly Contribution.

  • The monthly Contribution for each Participant shall be equal to the dollar amount required to purchase on the Credit Date, in accordance with Section 6.1 and Section 6.2, the maximum possible number of whole Shares, based on the Fair Market Value of such Shares on the applicable Credit Date, without exceeding the Participant’s Base Monthly Contribution.

  • The monthly Contribution for each Participant shall be equal to the dollar amount required to purchase on the Credit Date, in accordance with Section 5.1 and Section 5.2, the maximum possible number of whole Shares, based on the Fair Market Value of such Shares on the applicable Credit Date, without exceeding the Participant's Base Monthly Contribution.

  • For the first twenty-four (24) months of an Agent’s participation under ATOP, the excess, if any, of a Participant’s Base Monthly Contribution over his or her actual monthly Contribution shall be noted each month in a separate book account maintained by the Administrator and aggregated with any excess attributable to such Participant for prior months until the amount is sufficient to purchase one whole Share.

  • Agent’s Total Ownership Plan ATOP Contribution Addendum In accordance with Sections 1.8 and 4.1 of ATOP, each Participant’s Base Monthly Contribution shall be calculated as a percentage of such Participant’s commissions, as set forth below; provided that a Participant’s Base Monthly Contribution shall never exceed $2,000 ($3,000 during the New Horizon Period, subject to the conditions of Section 1.8 of ATOP) in the aggregate from commissions and/or compensation received from all Participating Agencies.

  • For the first twenty-four (24) months of an Agent’s participation under ACE, the excess, if any, of a Participant’s Base Monthly Contribution over his or her actual monthly Contribution shall be noted each month in a separate book account maintained by the Administrator and aggregated with any excess attributable to such Participant for prior months until the amount is sufficient to purchase one whole Share.

  • HealthMarkets Agents’ Total Ownership Plan ATOP Contribution Addendum In accordance with Sections 1.8 and 4.1 of ATOP, each Participant’s Base Monthly Contribution shall be calculated as a percentage of such Participant’s commissions, as set forth below; provided that a Participant’s Base Monthly Contribution shall never exceed $2,000 in the aggregate from commissions and/or compensation received from all Participating Agencies.

Related to Base Monthly Contribution

  • Declared Monthly Consumption means the Declared Monthly Consumption set out in the Acceptance Form for Electricity Supply.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • Contribution Percentage Amounts means the sum of the Employee Contributions, Matching Contributions, and Qualified Matching Contributions (to the extent not taken into account for purposes of the ADP test) made under the Plan on behalf of the participant for the Plan Year. Such Contribution Percentage Amounts shall not include Matching Contributions that are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are Excess Deferrals, Excess Contributions, or Excess Aggregate Contributions. If so elected in the adoption agreement the Employer may include Qualified Nonelective Contributions in the Contribution Percentage Amounts. The Employer also may elect to use Elective Deferrals in the Contribution Percentage Amounts so long as the ADP test is met before the Elective Deferrals are used in the ACP test and continues to be met following the exclusion of those Elective Deferrals that are used to meet the ACP test.

  • Catch-Up Contributions means Salary Reduction Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are Age 50 or over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • Monthly Charges means a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • Monthly Excess Cashflow For any Distribution Date, an amount equal to the sum of the Monthly Excess Interest and Overcollateralization Release Amount, if any, for such date.

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Monthly Charge shall have the meaning set forth in Article 5.

  • Actual Contribution Percentage means, with respect to a Plan Year, the ratio (expressed as a percentage) of the sum of the amount of (a) Matching Contributions, (b) After-Tax Contributions, (c) Qualified Nonelective ESOP Contributions, and (d) Tax Deferred Contributions recharacterized as After-Tax Contributions, made on behalf of the Participant for the Plan Year to the Participant’s Testing Compensation for the Plan Year.

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Eligible Expenditures means expenditures in respect of the reasonable cost of goods, works and services required for the Project and to be financed out of the proceeds of the Loan allocated from time to time to the eligible Categories in accordance with the provisions of Schedule 1 to this Agreement; and

  • Net Monthly Excess Cashflow With respect to each Distribution Date, the sum of (a) any Overcollateralization Release Amount for such Distribution Date and (b) the excess of (x) Available Funds for such Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly Interest Distributable Amounts for the Class A Certificates and the Mezzanine Certificates, (B) the Unpaid Interest Shortfall Amounts for the Class A Certificates and (C) the Principal Remittance Amount.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Discretionary Contribution means the contribution made by the Employer on behalf of a Participant as described in Section 4.4(b).

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Average Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • Core Earnings means, with respect to any Person for any period, net income determined in accordance with GAAP of such Person and its consolidated subsidiaries and excluding (but only to the extent included in determining net income for such period) (i) non-cash equity compensation expense, (ii) the expenses incurred in connection with the formation of the Sponsor and the offering in connection therewith, including the initial underwriting discounts and commissions, (iii) acquisition costs from successful acquisitions (other than acquisitions made in the ordinary course of business), (iv) real property depreciation and amortization, (v) any unrealized gains or losses or other similar non-cash items that are included in net income for the current quarter, regardless of whether such items are included in other comprehensive income or loss, (vi) extraordinary or non-recurring gains or losses and (vii) one-time expenses, charges or gains relating to changes in GAAP; provided that Core Earnings shall, solely with respect to the Core Earnings attributable to any Non Wholly-Owned Consolidated Affiliate, only include the Consolidated Group Pro Rata Share of such attributable amount.

  • Excess Contribution means a contribution that exceeds the

  • Production Year means the 12- month period between September 1 of one year and August 31 of the following year, inclusive.

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • Voluntary Contributions means voluntary amounts contributed by a member or participating member into a health reimbursement account. However, to the extent required by applicable law, voluntary amounts shall not be contributed through a salary reduction election under a cafeteria plan pursuant to section 125 of the internal revenue code, 26 USC 125.

  • Accumulated contributions means the sum of all