Payout Period definition

Payout Period means the time frame during which certain benefits payable hereunder shall be distributed. Payments shall be made in monthly installments commencing on the first day of the month following the occurrence of the event which triggers distribution and continuing for a period of one hundred eighty (180) months. Should the Executive make a Timely Election to receive a lump sum benefit payment, the Executive's Payout Period shall be deemed to be one (1) month.

Payout Period means the time frame during which certain benefits payable hereunder shall be distributed. Payments shall be made in equal monthly installments commencing on the first day of the month following the occurrence of the event which triggers distribution and continuing for a period of months, as designated in the Director's Joinder Agreement.

Payout Period has the meaning given to such term in Section 1.06 hereof.

Examples of Payout Period in a sentence

• Except as is contemplated by Paragraph 6(b)(ii) above, amounts payable to the Executive as a Retired Early Employee under this Paragraph 6 shall not be subject to any offset or reduction for (i) any amounts owed or claimed to be owed by the Executive to Arrow or the Bank or their Affiliates or (ii) any amounts of compensation or income received or generated by the Executive as a result of any other employment or self-employment of the Executive during the Pay-out Period.

• The Executive shall be under no obligation to seek other employment or gainful pursuit during the Pay-out Period as a result of this Agreement, and shall be prohibited from accepting certain other forms of employment and from engaging in certain other types of business during the Pay-out Period (as well as during certain other post-Termination of Employment periods) as and to the extent specified in Paragraph 9 of this Agreement.

• If (A) the lump sum amount thus made available is less than (B) the present value of all such remaining monthly payments, Arrow or the Bank shall continue to pay to the Retired Early Employee monthly payments for the duration of the Pay-out Period, but from such date forward such monthly payments will be in a reduced amount such that the present value of all such reduced payments, calculated as of the date of such determination, will equal the difference between (B) and (A), above.

• Phantom Contributions shall accrue interest at a rate equal to the Interest Factor, during the Payout Period, until the balance of the Accrued Benefit Account has been fully distributed.

• The Director may at anytime during the Payout Period request to receive the unpaid balance of his Retirement Income Trust Fund in a lump sum payment.

More Definitions of Payout Period

Payout Period means the period from the Tuesday (or such other day as is selected by the Commission) after the determination of that Pools Game, to the close of business on the day 12 months after the day that Pools Game was determined;

Payout Period means the time frame during which certain benefits payable hereunder shall be distributed. Payments shall be made in equal monthly installments commencing within thirty (30) days following the occurrence of the event which triggers distribution and continuing for One Hundred Eighty (180) months. For purposes of the Survivor's Benefit payable hereunder, the Payout Period shall be One Hundred Eighty (180) consecutive months.

Payout Period. The period starting on the Annuity Date and during which annuity payments are made.

Payout Period means the period from the Sunday after a Saturday lotto draw to the close of business on the day 12 months after that draw;

Payout Period means the period from the Wednesday after that Oz lotto draw to the close of business one year from that draw;

Payout Period means a period of 10 (Ten) years during which monthly income will be payable every monthiversary from the Policy Anniversary following the date of death of the Life Insured;

Payout Period means the time frame in which certain benefits payable hereunder shall be distributed. Said benefits may (at the request of the Director or his Beneficiary and subject to the Association’s discretion) be paid in a lump sum within thirty (30) days of the event which triggers payment or in equal monthly installments commencing on the first day of the month coincident with or next following said event and continuing for a period of one hundred eighty (180) months.