Payment Floor definition

Payment Floor shall have the meaning set forth in Section 9.5(c).
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Examples of Payment Floor in a sentence

  • The Variable Income Payments and the Guaranteed Payment Floor will be reduced by the specified Subaccounts to General Account transfer percentage.

  • The Transfers section is amended by adding the following to the Subaccount to General Account Transfers provision: Transfers from the Separate Account to the General Account may only be made when the Fixed Income Payments provided by the transfer are higher than the corresponding portion of the Guaranteed Payment Floor.

  • The value of the Adjustment Account at this time is the greater of (a) and (b), where: (a) is zero; and (b) is twelve multiplied by the Guaranteed Payment Floor, minus twelve multiplied by the initial Level Income Amount.

  • Initial Monthly Income: The initial Monthly Income is the greater of the Level Income Amount and the Guaranteed Payment Floor.

  • Monthly Income in subsequent Annuity Years is the greater of (a) and (b), where: (a) is the subsequent Level Income Amount, minus any value in the Adjustment Account as of the date the last Monthly Income was paid divided by twelve; and (b) is the Guaranteed Payment Floor.

  • The Purchase Payment Floor The purchase payment floor is the total purchase payments and any purchase payment credits made to the contract minus adjustments for partial withdrawals.

  • If the total of such payments is less than the Payment Floor, the Bank shall make additional payments, as required by Article XXVI of this Consent Order, up to the amount of the Payment Floor.

  • Depending upon the nature and circumstances of such activities, certain of the expenditures related thereto have been recorded as operating expenses in the accompanying statements of income and others are capitalized as such expenditures are incurred.A summary of these environmental remediation matters follows.The Lemont terminal entered into a consent order with the state of Illinois to remediate a contamination problem which existed at the time of the purchase of this facility from its former owners.

  • The value of the Adjustment Account on the Annuity Commencement Date is the greater of (a) and (b), where: (a) is zero; and (b) is twelve multiplied by the Guaranteed Payment Floor, minus twelve multiplied by the initial Level Income Amount.

  • If the Level Income Amount is less than the Guaranteed Payment Floor, your Monthly Income will equal the Guaranteed Payment Floor.

Related to Payment Floor

  • SOFR Floor means a rate of interest per annum equal to zero basis points (0.00%).

  • OC Floor An amount equal to 0.50% of the Pool Balance as of the Cut-Off Date.

  • Ground floor means a floor of a building with a building entrance on an accessible route. A building may have more than one ground floor.

  • 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.

  • Rate Floor The minimum per annum Mortgage Interest Rate permitted under the related Mortgage Note. Rating Agency: Initially, each of S&P and Xxxxx’x and thereafter, each nationally recognized statistical rating organization that has rated the Certificates at the request of the Company, or their respective successors in interest. Ratings: As of any date of determination, the ratings, if any, of the Certificates as assigned by the applicable Rating Agencies.

  • LIBOR Floor means 0.00%.

  • Payment Ahead means, with respect to a Precomputed Receivable and a Collection Period, any Excess Payment (not representing, when added to any Deferred Prepayment with respect to such Precomputed Receivable, a prepayment in full of such Precomputed Receivable) which the Servicer, in accordance with its customary servicing practices, will apply towards the payment of Scheduled Payments due in one or more future Collection Periods.

  • Floor means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to USD LIBOR.

  • Rent Payment means the amount payable by Lessee for the Assets as specified in the applicable Schedule.

  • Payment Amount has the meaning specified in Section 6.1.

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

  • Gross Floor Area means the total floor area, measured between the outside of exterior walls or between the outside of exterior walls and the centre line of party walls dividing the building from another building, of all floors above the average level of finished ground adjoining the building at its exterior walls;

  • Past Due Rent Payment is defined in Section 2.2(g).

  • Rental Payments means the rental payments paid by the occupant of a unit, excluding any supplemental rental assistance to the occupant from the State, the federal government, or any other public agency, but including any mandatory fees or charges imposed on the occupant by the Owner as a condition of occupancy of the unit.

  • Rental Fee A fee charged by the Contractor for the rental of a compactor or roll-off container.

  • Net WAC Cap Rate With respect to any Distribution Date, the product of (i) a per annum rate equal to the weighted average of the Net Mortgage Rates (or, if applicable, the Modified Net Mortgage Rates) using the Net Mortgage Rates in effect for the Monthly Payments due on such Mortgage Loans during the related Due Period, weighted on the basis of the respective Stated Principal Balances thereof for such Distribution Date and (ii) a fraction equal to 30 divided by the actual number of days in the related Interest Accrual Period.

  • Payment Cap For each Mortgage Loan, the percentage limit set forth in the related Mortgage Note concerning the maximum permitted increase in a monthly payment.

  • AMPS Basic Maintenance Amount, as of any Valuation Date, means the dollar amount equal to (i) the sum of (A) the product of the number of shares of AMPS and Other AMPS Outstanding on such Valuation Date multiplied by the sum of (a) $25,000 and (b) any applicable redemption premium attributable to the designation of a Premium Call Period; (B) the aggregate amount of cash dividends (whether or not earned or declared) that will have accumulated for each share of AMPS and Other AMPS Outstanding, in each case, to (but not including) the end of the current Dividend Period that follows such Valuation Date in the event the then current Dividend Period will end within 49 calendar days of such Valuation Date or

  • Mezzanine Floor means an intermediate floor between two floors, above ground level, accessible only from the lower floor;

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.