MAC Payment definition

MAC Payment means the vested portion of the MAC Credits transferred to a Participant’s ACE Account pursuant to Section 5.7.
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MAC Payment means the vested portion of the MAC Credits transferred to a Participant's ACE Account pursuant to Section 5.7.
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Examples of MAC Payment in a sentence

  • Shares acquired for purposes of the MAC Payment may be newly issued Shares, Shares acquired by open market purchase and/or Shares purchased from ACE Participants, as determined by the Administrator in its sole discretion.

  • The MAC Payment shall be made in the form of Shares or cash equal to the amount necessary to purchase a number of Shares equal to the Participant's then vested MAC Credits.

  • Each Participant's final MAC Payment, if any, will be made as soon as administratively practicable following the date of such termination in accordance with Section 5.7. Subject to Section 5.8, no termination may retroactively reduce MAC Credits previously transferred to a Participant's ACE Account.

  • As soon as administratively practicable after January 1 of each Plan Year, the Sponsoring Company will make an MAC Payment to the ACE Account of each of its active Agents participating in MAC in an amount equal to the newly vested MAC Credits under his or her MAC Account (to the nearest whole Equivalent Share).

  • At the time the MAC Payment is made to the Participant's ACE Account, the number of such vested MAC Credits will be deducted from the Participant's MAC Account.

Related to MAC Payment

  • Delta Payment means as it is described in this Agreement.

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • AHYDO Payment means any mandatory prepayment or redemption pursuant to the terms of any Indebtedness that is intended or designed to cause such Indebtedness not to be treated as an “applicable high yield discount obligation” within the meaning of Section 163(i) of the Code.

  • Interim Payment has the meaning specified in Section 10.1.

  • Co-payment means a relatively small amount of money paid by the insured person towards the cost of each day in a private hospital per episode of care, with Latrobe paying the rest of the cost.