Conversion Contribution definition

Conversion Contribution. Means a contribution described in Code Section 408A(e) from a Traditional or SIMPLE IRA to a ▇▇▇▇ ▇▇▇.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Conversion Contribution. Means a contribution described in Code Section 408A(e) from a Traditional or SIMPLE ▇▇▇ to a ▇▇▇▇ ▇▇▇.

Conversion Contribution has the meaning set forth in Section 3.5(c).

Examples of Conversion Contribution in a sentence

• Upon a repayment in full of a Non-Contribution Loan made to a Non-Contributing Member (prior to its conversion pursuant to a Conversion Contribution in accordance with Section 3.5(c)), such Non-Contributing Member shall (so long as it does not have any other outstanding Non-Contribution Loans and is not otherwise a Non-Contributing Member with respect to any other Additional Capital Contributions) cease to be a Non-Contributing Member.

• A Conversion Contribution shall be deemed an Additional Capital Contribution by the Contributing Member as of the date on which the applicable Non-Contribution Loan is converted to a Conversion Contribution at a post-money Fair Market Value per Unit on the date such Non-Contribution Loan is first made, as determined in good faith by the Board.

• At the time of a Conversion Contribution, the Percentage Interest of the Contributing Member shall be increased proportionally to reflect the amount of such Additional Capital Contribution by the Contributing Member, thereby increasing the Contributing Member’s Percentage Interest and decreasing the Percentage Interest of the Non-Contributing Member.

• Upon a repayment in full by Par Pacific of such Non-Contribution Loan, and any interest accrued thereon (prior to Alohi electing a Conversion Contribution in respect of such Non-Contribution Loan in accordance with Section 3.5(c) and Section 3.5(d)), Par Pacific shall cease to be a Par Pacific Commitment Defaulting Member and Alohi shall cease to have the right to be, or to appoint, the Construction Manager and/or Operator.

More Definitions of Conversion Contribution

Conversion Contribution means the sum of $3,500,000.00, to be paid by Landlord to Tenant for the Redevelopment and Opening Costs; provided that such sum shall be reduced by the amount of the Additional Loan (as defined in that certain Mortgage Note from Tenant to Landlord dated February 25, 2022) previously made by Landlord or its Affiliate to Tenant. “County” shall mean the County in which the Premises are located, as set forth in the Recitals hereof. “CPI” shall mean the Consumer Price Index which is designated for the applicable month of determination as the United States City Average for All Urban Consumers, All Items, Not Seasonally Adjusted, with a base period equaling 100 in 1982 — 1984, as published by the United States Department of Labor’s Bureau of Labor Statistics or any successor agency. In the event that the Consumer Price Index ceases to be published, its successor index as published by the same governmental authority which published the Consumer Price Index shall be substituted and any necessary reasonable adjustments shall be made by Landlord and Tenant in order to carry out the intent of this Lease. “CPI Increase” shall mean the percentage change in the CPI for the month immediately prior to the first month of a Lease Year over the CPI for the month immediately prior to the first month of the immediately preceding Lease Year. “Default” shall mean any act, omission, event or circumstance which would constitute an Event of Default upon the delivery of any applicable notice and expiration of any applicable cure period. “Effective Date” shall have the meaning set forth in the initial paragraph hereof. “Election Period” shall have the meaning set forth in Section 7.2(a). “Emergency” shall mean an emergency for which repairs are immediately necessary for the preservation and safety of the Premises, to avoid the suspension of any essential services to the Premises, including, without limitation, the operation of the Business, or to avoid danger to life or property or to protect the Premises, Tenant, Third-Party Operators and any other Person from material and imminent damage or harm or risk of material and imminent damage or harm. “Environmental Law” shall mean shall mean and include all federal, state and local statutes, ordinances, codes, regulations and rules relating to environmental quality, health, safety, contamination and clean-up, emissions, discharge, releases or threatened releases of pollutants, contaminants, chemicals or industrial, toxic or hazardous subs...

Conversion Contribution means a qualified rollover contribution (as defined in Code §408A) made to a ▇▇▇▇ ▇▇▇ which is all or any portion of a distribution from another individual retirement account established under Code §408(a) or an individual retirement annuity established under Code §408(b) during any taxable year if: (i) the Owner’s adjusted gross income or combined adjusted gross income, if married filing a joint return, for such taxable year does not exceed $100,000, or (ii) the Owner is not a married individual filing a separate return; and (iii) the rollover contribution meets the requirements of Code §408(d)(3).