LIMITATION ON. COMPENSATION The annual Compensation of each Participant which may be taken into account for determining all benefits provided under the Plan for any year, shall not exceed the limitation as imposed by Code Section 401(a)(17), as adjusted under Code Section 401(a)(17)(B). If a Plan has a Plan Year that contains fewer than twelve (12) calendar months, the annual Compensation limit for that period is an amount equal to the limitation as imposed by Code Section 401(a)(17) as adjusted for the calendar year in which the Compensation period begins, multiplied by a fraction, the numerator of which is the number of full months in the short Plan Year and the denominator of which is twelve (12). USERRA For purposes of Employee and Employer make-up contributions, Compensation during the period of military service shall be deemed to be the Compensation the Employee would have received during such period if the Employee were not in qualified military service, based on the rate of pay the Employee would have received from the Employer but for the absence due to military leave. If the Compensation the Employee would have received during the leave is not reasonably certain, Compensation will be equal to the Employee's average Compensation from the Employer during the twelve (12) month period immediately preceding the military leave or, if shorter, the Employee's actual period of employment with the Employer.
LIMITATION ON. HFB's and Hemet's Conduct Prior to Effective Time. Between the date hereof and the Effective Time of the Holding Company Merger, except as contemplated by this Agreement and subject to requirements of law and regulation generally applicable to federally chartered savings associations and savings and loan holding companies, HFB and Hemet agree to conduct, and agree to cause the HFB Subsidiary to conduct, their respective businesses in the ordinary course in substantially the manner heretofore conducted and in accordance with sound banking practices, and HFB, Hemet and the HFB Subsidiary shall not, without prior written consent of TI (which consent shall not be unreasonably withheld and which consent shall be deemed granted if within five (5) Business Days (or two (2) Business Days with respect to Section 6.1(i)) of TI's receipt of written notice of a request for prior written consent, written notice of objection is not received by HFB):
LIMITATION ON. AMOUNTS The amount of life insurance held by the Trustee on the life of any Participant shall be limited as follows: (A)
Examples of LIMITATION ON in a sentence
IF HOLDER OR ANY OTHER SUCH INDEMNIFIED PARTY DESIRES TO ENGAGE SEPARATE COUNSEL, IT MAY DO SO AT ITS OWN EXPENSE; PROVIDED, HOWEVER, THAT SUCH LIMITATION ON THE OBLIGATION OF MAKER TO PAY THE FEES OF SEPARATE COUNSEL FOR SUCH INDEMNIFIED PARTY SHALL NOT APPLY IF SUCH INDEMNIFIED PARTY HAS RETAINED SAID SEPARATE COUNSEL BECAUSE OF A REASONABLE BELIEF THAT MAKER IS NOT DILIGENTLY DEFENDING IT AND/OR NOT DILIGENTLY CONDUCTING THE DEFENSE AND SO NOTIFIES MAKER.
THE FOREGOING LIMITATION ON LIABILITY WILL NOT APPLY TO, AND WILL BE IN ADDITION TO, ANY FEES PAYABLE HEREUNDER.
LIMITATION ON RECOVERY; NO ADDITIONAL PAYMENTS The right to recovery will be limited to Overpayments received during the three (3) completed fiscal years prior to the date on which the Company is required to prepare an Accounting Restatement and any transition period (that results from a change in the Company’s fiscal year) within or immediately following those three (3) completed fiscal years.
CONDITIONS UPON ISSUANCE OF SHARES; LIMITATION ON SALE OF SHARES.
THE LIMITATION ON LANDLORD'S LIABILITY UNDER THE PRECEDING SENTENCE SHALL NOT APPLY HOWEVER TO LOSS OR DAMAGE ARISING DIRECTLY FROM LANDLORD'S WILLFUL MISCONDUCT.
More Definitions of LIMITATION ON
LIMITATION ON. EXERCISABILITY; DISPOSITION OF OPTION SHARES . Any incentive stock option that remains unexercised more than one year following termination of employment by reason of Disability or more than three months following termination for any reason other than death or Disability will thereafter be deemed to be a non-statutory stock option. In addition, in the event that a disposition (as defined in Section 424(c) of the Code) of shares of Common Stock acquired pursuant to the exercise of an incentive stock option occurs prior to the expiration of two years after its date of grant or the expiration of one year after its date of exercise (a "disqualifying disposition"), such incentive stock option will, to the extent of such disqualifying disposition, be treated in a manner similar to a non-statutory stock option.
LIMITATION ON. MODIFICATIONS OF INDEBTEDNESS; MODIFICATIONS OF CERTIFICATE OF INCORPORATION, OR OTHER CONSTITUTIVE DOCUMENTS, BY-LAWS AND CERTAIN OTHER AGREEMENTS, ETC. (i) Amend or modify, or permit the amendment or modification of, any provision of existing Indebtedness or of any agreement (including any purchase agreement, indenture, loan agreement or security agreement) relating thereto other than any amendments or modifications to Indebtedness which do not in any way materially adversely affect the interests of the Lenders and are otherwise permitted under Section 6.01(b); (ii) except as required by Sections 4.08 and 4.11(e) of the Qualified Senior Note Indenture, make (or give any notice in respect thereof) any voluntary or optional payment or prepayment on or redemption or acquisition for value of, or any prepayment or redemption as a result of any asset sale, change of control or similar event of, any indebtedness outstanding under the Qualified Senior Notes; (iii) amend or modify, or permit the amendment or modification of, any provision of any Qualified Senior Notes or any agreement (including any Qualified Senior Note Document) relating thereto other than amendments or modifications which do not in any way materially adversely affect the interests of the Lenders and which are effected to make technical corrections to the respective documentation; (iv) amend or modify, or permit the amendment or modification of, any other Transaction Document, in each case except for amendments or modifications which are not in any way adverse in any material respect to the interests of the Lenders; or (v) amend, modify or change its articles of incorporation or other constitutive documents (including by the filing or modification of any certificate of designation) or by-laws, or any agreement entered into by it, with respect to its capital stock (including any shareholders' agreement), or enter into any new agreement with respect to its capital stock, other than any amendments, modifications, agreements or changes pursuant to this clause (v) or any such new agreements pursuant to this clause (v) which do not in any way materially adversely affect in any material respect the interests of the Lenders; and provided, that Holdings may issue such capital stock as is not prohibited by Section 6.11 or any other provision of this Agreement and may amend articles of incorporation or other constitutive documents to authorize any such capital stock.
LIMITATION ON. MEMBER'S DEFICIT MAKE-UP. No Member shall have any obligation to restore any deficit in its Capital Accounts.
LIMITATION ON. PURCHASE OR SALE OF EQUIPMENT AND FIXED ASSETS. BORROWER WILL NOT MAKE OR INCUR ANY OBLIGATIONS IN ANY MANNER OR FORM FOR THE PURCHASE OR ACQUISITION OF FIXED ASSETS AND EQUIPMENT IN AN AGGREGATE AMOUNT GREATER THAN $300,000 DURING FISCAL YEAR 12-31-2005 OTHER THAN NORMAL ANNUAL OPERATING TRANSACTIONS REQUIRE PRIOR WRITTEN CONSENT OF THE BUSINESS LOAN AGREEMENT Loan No: 57748 (Continued) Page 5 ================================================================================ LENDER. THE LIMITATION WILL INCREASE BY $100,000 INCREMENTS EACH YEAR THEREAFTER, AS LONG AS ALL LOAN COVENANTS ARE BEING AND WILL BE MET. HOWEVER, IF THE COMPANY FAILS TO PERFORM AT PROJECTED PROFIT LEVELS, CAPITAL PURCHASES WILL BE DEFERRED. RATIO REQUIREMENTS. ALL RATIOS DETERMINED IN ACCORDANCE WITH GAAP AND MEASURED AT BORROWER'S FISCAL YEAR END.
LIMITATION ON. INDEBTEDNESS The Company and the Company Subsidiaries shall not have indebtedness in excess of U.S.$1,400,000 at the Closing Date. For the purposes of this section 8.8 "indebtedness" shall mean all debts of the Company and Company Subsidiaries which should be stated on the balance sheet of the Company and/or the Company Subsidiaries under GAAP, including but not limited to the current portion of long term debt, long term debt and notes and specifically excluding (i) the intercompany balance of US$331,312 owed by Monital to Griptight, the US$155,546 owed by LWG to Lewix Xxxxx Xxxptight Limited and the US$68,765 owed by Griptight to Lewix Xxxxx Xxxptight (ii) deferred revenue (iii) corporate income taxes payable (iv) accounts payable and accrued expenses as shown within current liabilities on the balance sheet, (v) dealer holdbacks on acquisitions and (vi) the intercompany loans provided by Buyer pursuant to Section 3.5.
LIMITATION ON. THE SELLER'S AND COMPANY'S CONDUCT PRIOR TO THE CLOSING DATE. Between the date hereof and the Closing Date, except as contemplated by this Agreement, the Seller will take all action required of it and will use reasonably best efforts to cause the Company to conduct its business in the ordinary course in substantially the manner heretofore conducted and in accordance with sound corporate practices, and will cause the Company not, without prior written consent of the Bank (which consent shall not be unreasonably withheld and which consent (except with respect to subparagraphs (h), (j) and (p) of this Section 5.1) shall be deemed granted if within five (5) Business Days of the Bank's receipt of written notice of a request for prior written consent, written notice of objection is not received by the Seller):
LIMITATION ON. HARD WALL OFFICE: No more than Fifty percent (50%) of the rentable floor area on any floor of any Building shall be enclosed as hard wall office, unless approved by Landlord at its sole discretion; provided, however, that Tenant may exceed this limitation if Tenant agrees to reconfigure the affected floor to such standard upon expiration or earlier termination of this Lease.