Excess Assets definition

Excess Assets means the amount by which, if at all, the Income Stabilization Fund of either GRS or PFRS is credited with assets in excess of its Estimated Future Liability.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Excess Assets means assets of the Trust in excess of one hundred and twenty-five per cent (125%) of the Funding Amount.

Excess Assets means, collectively, any Eligible Asset and Top-Up Asset forming part of the Cover Pool which are in excess for the purpose of satisfying the Tests.

Examples of Excess Assets in a sentence

• The Trustee (and any receiver, agent or other person appointed by the Trustee) and the Issuer shall incur no liability to any person from complying with the instructions in any Excess Assets Direction and the Trustee shall not be required to have any consideration of the interests of the Holders of Securities with respect to the implementation of any Excess Assets Direction.

• Following such notification, the Trustee may receive an Excess Assets Direction from an Other Creditor that has provided security to the Issuer in support of its obligations under a Swap, Contract, Collateral Securities Agreement, Deposit Agreement or Other Agreement.

• Accordingly, an Excess Assets Direction may be adverse to the interests of the Holders of Securities.

• Where an Excess Assets Direction is delivered, Clause 6.5 (Division of Transaction Security) of the Principal Trust Deed shall not apply.

• Upon a determination by the Trustee (or any receiver, agent or other person so appointed) that an Excess Assets Event has occurred, it shall notify the Holders of Securities, the Other Creditors or the Obligees (as defined in the Principal Trust Deed), as the case may be, in accordance with Clause 6.6 (Excess Assets Direction) of the Principal Trust Deed.

More Definitions of Excess Assets

Excess Assets are assets of the trust exceeding one hundred twenty-five percent (125%) of the amounts described in subparagraphs (a) and (b) of 2.01-3.

Excess Assets has the meaning set forth in Section 8.

Excess Assets means excess assets as defined in the Funding Policy.

Excess Assets are assets of the Trust exceeding the sum of: one hundred twenty-five percent (125%) of the anticipated benefit obligations and administrative obligations that are to be paid under the Plans. MASTER TRUST AGREEMENT FOR RPM, INC. DEFERRED COMPENSATION PLAN(S) ================================================================================

Excess Assets means the assets of the Trust that exceed one hundred twenty-five percent (125%) of the sum of the aggregate liabilities to Plan participants and their beneficiaries pursuant to the terms of the Plans. Additionally, Company may request reimbursement from the Trust for any amounts paid directly by Company to Plan participants pursuant to Section 2(c) hereof by providing a certification of the amounts paid and satisfactory evidence of such payments to Trustee, and upon such request Trustee shall pay such amounts to Company from the Trust. Trustee may rely on such certification and evidence and shall have no obligation for otherwise verifying payment to the Plan participants.

Excess Assets shall have the meaning specified in paragraph 6H(ii).

Excess Assets means, in relation to the Cover Pool and on each Guarantor Calculation Date, those Receivables and, if transferred to the Guarantor, Public Entity Securities the aggregate Outstanding Principal of which is equal to: (i) any amount by reason of which the Portfolios comprised in the Cover Pool are in excess (as nominal value, interest coverage and net present value) of any Eligible Assets necessary to satisfy the Statutory Tests on the relevant Guarantor Calculation Date; minus (ii) the aggregate Outstanding Principal of those Receivables and, if transferred to the Guarantor, Public Entity Securities indicated by the Test Calculation Agent as Affected Assets pursuant to the provisions of clause 10 (Payment of Indemnity) of the Warranty and Indemnity Agreement.