Excess Modification definition

Excess Modification means any amendment to or other change in Purchaser's Excess Pension Plan (including, without limitation, any merger with another plan or spin-off of any portion of Purchaser's Excess Pension Plan), effective any time after the Effective Benefits Time, which substantially reduces benefit accruals under such plan (or any successor or other tax-qualified retirement plan (subject to the above-stated limitation) for periods after the effective date of the amendment or change, with respect to (i) the benefit formula, (ii) the definition of average final compensation, (iii) the number of years taken into account for purposes of benefit accrual, (iv) the percentage of average final compensation taken into account for each year of service, (v) the method of Social Security integration (to the extent discretionary on the part of Purchaser), (vi) the optional forms of benefits, (vii) early 83 76
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Excess Modification shall not include any amendment or other change to Purchaser's Excess Pension Plan or any successor or other non-qualified retirement plan (subject to the above-stated limitation) (i) required solely to comply with applicable legal requirements and with respect to which Purchaser has no optional means of compliance which if pursued would not result in an Excess Modification (except for this sentence) or (ii) that is identical to an amendment to the Excess Retirement Plan (or other arrangement provided in accordance with Section 6.6(l)(iv)(G)).
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Examples of Excess Modification in a sentence

  • The Workout Fee shall be reduced (but not below zero) pursuant to the preceding sentence with respect to each collection on such Corrected Mortgage Loan from which such fee would otherwise be payable until an amount equal to such Excess Modification Fee Amount has been deducted in full.

  • The Workout Fee shall be reduced (but not below zero) pursuant to the preceding sentence with respect to each collection on the related Mortgage Loan from which such fee would otherwise be payable until an amount equal to such Excess Modification Fee Amount has been deducted in full.

  • The Workout Fee shall be reduced (but not below zero) with respect to each collection on such Corrected Loan from which fee would otherwise be payable until an amount equal to the Excess Modification Fee Amount has been deducted in full.

  • The Workout Fee shall be reduced (but not below zero) pursuant to the preceding sentence with respect to each collection on the related Mortgage Loan from which such fee would otherwise be payable until an amount equal to such Excess Modification Fees Amount has been deducted in full.

  • Notwithstanding the last two paragraphs of Section 3.05(a) of the Pooling and Servicing Agreement, the Sub-Servicer shall deposit into the Sub-Servicer Collection Account and include in its Available Distribution Amount, Ancillary Fees, Consent Fees, Excess Modification Fees, Assumption Fees, assumption application fees and defeasance fees collected by the Sub-Servicer, to the extent the Sub-Servicer is not entitled to such amounts pursuant to Section 3.01(c)(17) of this Agreement.