Level Pay Plan definition

Level Pay Plan means a level payment plan offered by the Seller, which, if elected by a Customer, provides for level monthly ▇▇▇▇ charges to such Customer by estimating the amount that the Customer would pay during a year (based on the Customer's actual usage during the prior year), then charging the Customer 1/11th of that amount for each of eleven months, with quarterly adjustments if necessary. In the twelfth month, the payments made by such Customer during the preceding eleven months are reconciled with the amount owed by such Customer for actual usage during the level pay period, and the Customer is given a credit or billed for the difference as appropriate, based on such reconciliation.
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Examples of Level Pay Plan in a sentence

  • Partial payment of a Level Pay Plan payment shall be allocated according to clause (iii) above, and overpayment of a Level Pay Plan payment shall be allocated according to clause (iv) above.

  • Participant will hold PG&E harmless for its inability to participate in PG&E Direct Pay, Level Pay Plan, Peak Time Rebate (Save Power Day), and any CAISO-sponsored demand response programs facilitated through Electric Rule 24 during the course of the Phase 2 Pilot.

  • A Direct Access Customer receiving a Consolidated ▇▇▇▇▇▇ ▇▇▇▇ may participate in Edison’s Level Pay Plan for Edison Charges.

  • No changes shall be made to the procedure and/or form without mutual agreement of the Union and County.

Related to Level Pay Plan

  • Pay Plan means the scale of wages as contained in the attached Appendix “A” and the rules governing its application, as per Article 12.

  • Parent 401(k) Plan has the meaning set forth in Section 6.6(e).

  • Compensation Plan means any program, plan or similar arrangement (other than employment contracts for a single individual) relating generally to compensation, pension, employment or similar arrangements with respect to which any Company, any Affiliate of any Company or any ERISA Affiliate of any of them has any obligation or liability, contingent or otherwise, under any Requirement of Law other than that of the United States.

  • Company 401(k) Plan has the meaning set forth in Section 6.09(a).

  • Seller 401(k) Plan has the meaning set forth in Section 6(e) below.