Positive Equity True-up definition
Positive Equity True-up means an amount equal to (i) the amount by which the aggregate amount of the Total SAR Liability and Additional Equity Holder Payments accrued as a liability (not net of tax) on the Final 2010 Balance Sheet is greater than the aggregate amount of Total SAR Liability and Additional Equity Holder Payments that (in each case) are actually paid after December 31, 2010 pursuant to the terms of the SAR Plans, the Additional SAR Payment Plan or any other arrangement that obligates the Company to make Additional Equity Holder Payments (for example, such plan may provide that the Additional SAR Payments and/or Additional Equity Holder Payments are adjusted for claims by Parent Indemnitees under Article X) multiplied by (ii) the Non-ACE Ownership Factor. To the extent the excess liability accruals referenced in the preceding sentence were tax-effected on Schedule 1, such true up shall be multiplied by 0.64. An example illustrating the calculation of the Positive Equity True-up is set forth in Schedule 3.
Examples of Positive Equity True-up in a sentence
The Contingent Amount shall be: (i) $70,000,000, (ii) increased by (A) the amount determined pursuant to Section 3.3(h)(i), if any, (B) the Positive Equity True-up, if any and (C) any amount determined pursuant to the last proviso contained in Section 3.2(e) and (iii) decreased by (A) the amount determined pursuant to Section 3.3(h)(ii), if any, (B) the Negative Equity True-up, if any and (C) any amounts determined pursuant to Section 10.1(e), if any.