Minimum Funding Obligation definition

Minimum Funding Obligation means (a) $158,500,000, plus (b) any Additional PDC Contribution, minus (c) the Special PDC Withdrawal; provided, that in no event shall the total exceed $102,000,000 without Investor’s consent. For the avoidance of doubt, the definition of “Minimum Funding Obligations” excludes any amount that Investor contributes pursuant to Section 4.3(f).
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Minimum Funding Obligation has the meaning set forth in Section 3.3.1.
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Minimum Funding Obligation means the lesser of (1) $15 million or (2) 1.3 times the then Value of Total Accrued Benefits. In addition to the other requirements of the Recordkeeper set forth in this Section, the Recordkeeper shall provide the Trustee with the Value of the Total Accrued Benefits as promptly as reasonably practicable following the end of each calendar quarter."
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Examples of Minimum Funding Obligation in a sentence

  • The Minimum Funding Obligation will be equal to the amount of Pension and PBOP costs collected from customers during the fiscal year, plus the amounts of Pension and PBOP costs capitalized during the year.

  • The Minimum Funding Obligation shall be contributed by the end of the quarter following the recognition of such costs.

  • For the purpose of determining its Minimum Funding Obligation and the carrying costs that apply to that obligation, the Company shall be permitted to combine the funding of pensions and PBOPs, thereby offsetting, any deficiencies in PBOPs funding with any excess pension funding, or conversely offsetting any deficiencies in pension funding with any excess PBOP funding.

  • The Minimum Funding Obligation is the Company’s obligation to contribute amounts recovered from customers to the pension and PBOP plans as it is being recovered.

  • The PAF will be computed on an annual basis for the twelve months ended March 31 and will be based on the difference in the Company’s actual pension and OPEB expense for the prior twelve month period ended March 31 and the distribution base rate allowance, plus carrying charges at the weighted average cost of capital on the cumulative five quarter average underfunding of the pension and OPEB Minimum Funding Obligation for the fiscal year ended March 31.

  • The Settling Parties further agree that the Company shall enhance the customer protections applicable to the existing PAM by contributing to the pension and OPEB plans at the Minimum Funding Obligation level, which is the amount of pension and OPEB costs collected from customers through base rates and the PAM, plus capitalized amounts of pension/OPEB cost.

  • The Minimum Funding Obligation will be equal to the amount of pension and OPEB costs collected from customers during the fiscal year, plus the amounts of pension and OPEB costs capitalized during the year.

  • The Minimum Funding Obligation level is equal to the amount billed to customers plus the amounts of capitalized pension and PBOP costs.

  • The PAF will be computed on an annual basis for the twelve months ended March 31 and will be based on the difference in the Company’s actual Pension and PBOP expense for the prior twelve month period ended March 31 and the distribution base rate allowance, plus carrying charges at the weighted average cost of capital on the cumulative five quarter average underfunding of the Pension and PBOP Minimum Funding Obligation for the fiscal year ended March 31.

  • For a period of 2 years after the date of enactment of the Clean Air Act Amendments of 1990, ash from solid waste incineration units burning municipal waste shall not be regulated by the Administrator of the Environmental Protection Agency pursuant to section 3001 of the Solid Waste Disposal Act.


More Definitions of Minimum Funding Obligation

Minimum Funding Obligation means the amount of any quarterly or annual contribution to a Plan that is required under Section 412 of the Code.
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Related to Minimum Funding Obligation

  • Pre-Funding Amount With respect to any date, the amount on deposit in the Pre-Funding Account.

  • Original Pre-Funded Amount The amount deposited by the Depositor in the Pre-Funding Account on the Closing Date, which amount is $36,215,225.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Excess Funding Amount means the amount on deposit in the Excess Funding Account.

  • Excess Funding Account shall have the meaning specified in subsection 4.2(d).

  • Pre-Funded Amount With respect to any date of determination, the amount on deposit in the Pre-Funding Account.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $10,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • Pre-Funding Period The period from the Closing Date until the earlier of (i) the date on which the amount on deposit in the Pre-Funding Account is reduced to less than $50,000 or (ii) June 29, 2007.

  • Aggregate Excess Funding Amount of a Non-Funding Lender shall be the aggregate amount of all unpaid obligations owing by such Lender to Agent and other Lenders under the Loan Documents, including such Lender’s Ratable Share of Loans.

  • Principal Funding Account Balance means, with respect to any date of determination, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2022 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Master Funding Agreement means the Master Funding Agreement entered into by the Company and the Secretary of State on 31st October 2013;

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Minimum Equity Amount shall have the meaning provided in the recitals to this Agreement.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Initial Funding Date means the Funding Date on which the first Loan is made pursuant to this Agreement, as specified in the Initial Borrower Funding Request.

  • Principal Funding Investment Shortfall means, with respect to each Transfer Date relating to the Controlled Accumulation Period, the amount, if any, by which the Principal Funding Investment Proceeds for such Transfer Date are less than the Covered Amount determined as of such Transfer Date.

  • Minimum Investment means an investment in the project of at least two and one‑half million dollars within the investment period. If a county has an average annual unemployment rate of at least twice the state average during the last twenty‑four month period based on data available on the most recent November first, the minimum investment is one million dollars. The department shall designate these reduced investment counties by December thirty‑first of each year using data from the South Carolina Department of Employment and Workforce and the United States Department of Commerce. The designations are effective for a sponsor whose fee agreement is signed in the calendar year following the county designation. For all purposes of this chapter, the minimum investment may include amounts expended by a sponsor or sponsor affiliate as a nonresponsible party in a voluntary cleanup contract on the property pursuant to Article 7, Chapter 56, Title 44, the Brownfields Voluntary Cleanup Program, if the Department of Health and Environmental Control certifies completion of the cleanup. If the amounts under the Brownfields Voluntary Cleanup Program equal at least one million dollars, the investment threshold requirement of this chapter is deemed to have been met.

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).

  • Project Funding Agreement means an agreement in the form of Schedule F that incorporates the terms of this Agreement and enables the LHIN to provide one-time or short term funding for a specific project or service that is not already described in Schedule A;

  • Cash Contribution Amount means the aggregate amount of cash contributions made to the capital of the Issuer or any Guarantor described in the definition of “Contribution Indebtedness.”

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).