Governmental Operations definition
Examples of Governmental Operations in a sentence
The State or NC State auditor, or the Joint Commission on Governmental Operations and legislative employees whose primary responsibility is to provide professional or administrative services to the Commission, may audit the records of Contractor during and after the term of this Agreement to verify accounts and data affecting fees or performance in accordance with North Carolina General Statutes §143-49(9) and §147-64.7 and Session Law 2023-134.
The State Auditor, UNC System Office’s auditor, and the joint Legislative Commission on Governmental Operations and legislative employees whose primary responsibility is to provide professional or administrative services to the commission, may audit the records of Contractor during and after the term of this Contract to verify accounts and data affecting fees or performance of this Contract in accordance with North Carolina General Statutes § 143- 49(9) and § 147-64.7.
A SpinCo U.S. Pension Beneficiary shall not accrue benefits under the RemainCo Governmental Operations Plan after the SpinCo Transfer Date, unless such SpinCo U.S. Pension Beneficiary shall become employed by any member of the RemainCo Group that participates in the RemainCo Governmental Operations Plan on or after the SpinCo Transfer Date.
The “SpinCo Transfer Amount” means the amount required to be transferred from the RemainCo Governmental Operations Plan to the SpinCo Commercial Operations Plan in respect of the assumption by the SpinCo Commercial Operations Plan of the SpinCo U.S. Transferred Benefit obligations, as determined in accordance with Code Section 414(l) and the regulations thereunder.
Following the determination of the RemainCo Transfer Amount (as defined below) by SpinCo, SpinCo shall cause to be transferred from the SpinCo Commercial Operations Plan to the RemainCo Governmental Operations Plan assets having an aggregate Value (as defined below) equal to the RemainCo Transfer Amount.
The State Auditor, UNC’s auditor, and the joint Legislative Commission on Governmental Operations and legislative employees whose primary responsibility is to provide professional or administrative services to the commission, may audit the records of Contractor during and after the term of this Contract to verify accounts and data affecting fees or performance of this Contract in accordance with North Carolina General Statutes § 143- 49(9) and § 147-64.7.
On and before the SpinCo Transfer Date, the RemainCo Governmental Operations Plan shall continue to make the required benefit payments to the SpinCo U.S. Pension Beneficiaries.
The “RemainCo Transfer Amount” means the amount required to be transferred from the SpinCo Commercial Operations Plan to the RemainCo Governmental Operations Plan in respect of the assumption by the RemainCo Governmental Operations Plan of the RemainCo U.S. Transferred Benefit obligations, as determined in accordance with Code Section 414(l) and the regulations thereunder.
Following the determination of the SpinCo Transfer Amount (as defined below) by RemainCo, RemainCo shall cause to be transferred from the RemainCo Governmental Operations Plan to the SpinCo Commercial Operations Plan assets having an aggregate Value (as defined below) equal to the SpinCo Transfer Amount.
Effective as of the RemainCo Transfer Date, the sponsor of the RemainCo Governmental Operations Plan shall assume all liabilities with respect to the benefits previously accrued under the SpinCo Commercial Operations Plan by the RemainCo U.S. Pension Beneficiaries.