Installment Payment Year definition

Installment Payment Year means the twelve-month period ending on May 15 of each year, commencing with May 15, 2017; provided that the first Installment Payment Year shall be deemed to commence on the date of delivery of the Certificates to the original purchaser thereof and end on May 15, 2017.
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Installment Payment Year means the twelve-month period commencing on June 2 of each year and ending on June 1 of the following year; provided that the first Installment Payment Year shall be deemed to commence on the date of closing and end on June 1, 2015.
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Examples of Installment Payment Year in a sentence

  • Where W = Installment amount received by Participant in a particular Installment Payment Year.

  • For purposes of this Section VIII "Installment Payment Year" means the period commencing on the Participant's Benefit Commencement Date and ending on the first anniversary of such date and each 12-month period commencing on a subsequent anniversary of the Benefit Commencement Date during the payment period.

  • Where X = Participant's Deferred Compensation Account balance at the end of prior Installment Payment Year (or on the Participant's Benefit Commencement Date in the case of the first installment payment).

  • For purposes of this Section 8.3 "Installment Payment Year" means the period commencing on the Participant's Benefit Commencement Date and ending on June 30th of the calendar year following the calendar year in which the Benefit Commencement Date falls, the 12-month period commencing on such June 30th and on each subsequent June 30th during the payment period elected under Section 8.4.

  • Interest will be credited to the Special Account balance in the name of a Participant during any Installment Payment Year at the prime rate of National Bank of Detroit in effect on the first business day of such Installment Payment Year (or the prime rate of any other large commercial bank selected by the Committee).

  • Where X = Participant's Special Account balance at the end of the prior Installment Payment Year (or on the Participant's Benefit Commencement Date in the case of the first installment payment).

Related to Installment Payment Year

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Installment Payment has the meaning ascribed to it in Section 2.02(a).

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Installment Due Date means, for any monthly installment of interest only or principal and interest, the date on which such monthly installment is due and payable pursuant to Section 3 of this Note. The "First Installment Due Date" under this Note is October 1, 2007.

  • Installment Amount means the sum of (A) (i) with respect to any Installment Date other than the Maturity Date, the lesser of (x) the quotient of (I) the Principal amount outstanding under this Note as of the initial Installment Date, divided by (II) the number of Installment Dates occurring hereunder (as determined as of the initial Installment Date assuming no Deferrals, Accelerations, redemptions or conversions hereunder prior to the Maturity Date) and (y) the Principal amount then outstanding under this Note as of such Installment Date, and (ii) with respect to the Installment Date that is the Maturity Date, the Principal amount then outstanding under this Note as of such Installment Date (in each case, as any such Installment Amount may be reduced pursuant to the terms of this Note, whether upon conversion, redemption or Deferral), (B) any Deferral Amount deferred pursuant to Section 8(d) and included in such Installment Amount in accordance therewith, (C) any Acceleration Amount accelerated pursuant to Section 8(e) and included in such Installment Amount in accordance therewith and (D) in each case of clauses (A) through (C) above, the sum of any accrued and unpaid Interest and Make-Whole Amount with respect thereto as of such Installment Date under this Note, if any, and accrued and unpaid Late Charges, if any, under this Note as of such Installment Date. In the event the Holder shall sell or otherwise transfer any portion of this Note, the transferee shall be allocated a pro rata portion of the each unpaid Installment Amount hereunder.

  • Installment Date as defined in Section 2.12.

  • Quarterly Payment Date means the last Business Day of each March, June, September and December.

  • Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Quarterly Payment Dates means each March 31, June 30, September 30 and December 31.

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Assessment year means the period of twelve months commencing on the 1st day of April every year;

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Rent Payment Date means each date on which an installment of rent is due and payable pursuant to Section 5(a) hereof.

  • Deferred Sales Charge Payment Date means June 10, 2015 and the tenth day of each month thereafter through October 10, 2015.

  • Payment month means, for all programs except EA, the calendar month for which benefits are issued.

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Tax Payment Date means, with respect to any applicable Taxes, the date occurring 30 days prior to the date the same are due and payable.

  • Final Payment Date means the "Final Payment Date" as specified in § 1 of the Product and Underlying Data.

  • Payment Due Date means the date by which the Date of Payment must occur, in accordance with the provisions of Sections 504.3 through 504.5 of this Exhibit, in order for NYSERDA not to be liable for interest pursuant to Section 504.6.

  • Remaining Amortization Period means, at any point in time, the number of consecutive calendar months equal to the number of months in the Amortization Period minus the number of scheduled monthly installments of principal and interest that have elapsed since the date of this Note.

  • Next Payment Date means each date on which the next scheduled payment under any Transaction is due to be paid.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Agreement Year means each twelve (12) month period of the term of this Agreement beginning on the first day of the calendar year except for the “First Agreement Year” which shall mean the period commencing on the Effective Date and ending on December 31, 2003.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.