Performance Account definition

Performance Account means an account maintained in the name of a Participant with credits in Company stock.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Performance Account means the bookkeeping account established and maintained for each Participant to which Employer Allocations and any investment earnings or losses thereon are credited.

Performance Account. — means a bookkeeping account maintained by the Company in the name of each Participant showing the number of Performance Units to which such a Participant may become entitled to in accordance with the Plan.

Examples of Performance Account in a sentence

• The Concessionaire would also be allowed to appropriate the amounts in the Post Closure Performance Account.

• Initial verification of Performance Account will be attached as Schedule D.

• The Administrator or Named Fiduciary may direct the Trustee to debit the Plan’s Performance Account for the payment of outstanding amounts owed to the Trustee for services provided to the Plan.

• Provided, however, the Concessionaire shall be eligible to receive at the end of each year, during the Active Operations Period, an amount equivalent to two-thirds of the amounts accrued in the Post Closure Performance Account during that year, subject to the Concessionaire furnishing of a bank guarantee of equivalent value in favour of MCD.

• If the submitted expenses exceed the balance in the Performance Account, the Trustee will reimburse the Sponsor to the extent of the available balance of the Performance Account.

• The following procedures govern the use of amounts held in the Performance Account to offset the cost of services provided by the Trustee or its affiliate(s), to reimburse the Sponsor for other Plan expenses or to pay third-party invoices at the Administrator’s or Named Fiduciary’s direction.

• Provided however, no payments from Post Closure Performance Account shall be made to the Selected Bidder / Concessionaire / Beneficiary, if the Agreement is terminated due to Concessionaire’s Default.

• If additional amounts are credited to the Performance Account, the excess expenses will not be reimbursed to the Sponsor without additional direction from the Administrator or Named Fiduciary to do so.

• Upon termination of this Agreement, the balance in the Performance Account shall be transferred, in cash, to the successor trustee in accordance with the directions of the Administrator or Named Fiduciary.

• The Administrator or Named Fiduciary may direct the Trustee to debit the Plan’s Performance Account and use such amounts to reimburse the Sponsor for expenses incurred by the Sponsor on behalf of the Plan within the prior 12 months.

More Definitions of Performance Account

Performance Account means an account under the sole dominion ------------------- and control of Lender.

Performance Account means any contract or agreement (including, without limitation, a partnership or limited liability company or other similar agreement) pursuant to which the LLC or a Controlled Affiliate of the LLC provides Investment Management Services, directly or indirectly, and pursuant to which the LLC or any Controlled Affiliate thereof is or becomes entitled to receive a Performance Fee.

Performance Account means each of the Tier I CFC Performance Account, the Tier I EBITDA Performance Account, the Tier II CFC Performance Account and the Tier II EBITDA Performance Account.

Performance Account means any contract or agreement (including, without limitation, a partnership or limited liability company or other similar agreement) pursuant to which the LLC or a Controlled Affiliate of the LLC provides investment advice, directly or indirectly, and pursuant to which the LLC or such an Affiliate is or becomes entitled to receive a Performance Fee.