Projected Balance definition

Projected Balance means the Deferral Account balance as of the date of Separation from Service, increased by an amount equal to the monthly Contributions anticipated to be made to the Deferral Account between the date of the Separation from Service and Normal Retirement Age (each such Contribution to be equal to the average monthly Contribution made by Employer between the Effective Date and Separation from Service), with interest credited on the Deferral Account balance at an annual rate equal to the average of Accumulation Period Crediting Rate between the Effective Date and Separation from Service, compounded monthly.

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Projected Balance means the projected balance of the Deferral Account on the first day of the month following the date which would have been the Normal Retirement Age had the Employee survived and continued to be employed by the Bank. This amount shall be calculated assuming the Deferrals and the Crediting Rate remained constant from the date of death until the date which would have been the Normal Retirement Age.

Projected Balance means, for any Fiscal Quarter (or portion thereof), the principal amount of the KEXIM Covered Facility Loan that the Borrower expects to be outstanding in such Fiscal Quarter (or portion thereof) as shown in Exhibit E based on the Borrower’s current expectation as of the date of Closing Date, which exhibit shall be updated and provided to the KEXIM Facility Agent by the Borrower from time to time (i) within ten (10) Business Days following the incurrence of any Replacement Debt or any prepayment of all or any portion of any KEXIM Covered Facility Loan and (ii) on the date on which any Additional Advance occurs.

Examples of Projected Balance in a sentence

• However, if the Employee dies prior to Normal Retirement Age, the benefit shall be the Projected Balance.

• The Projected Balance will then be converted into annual installment benefit payments based upon the Participant's elected form of retirement payments under the Plan, assuming continued tax-deferred earnings on the undistributed balance at the ▇▇▇▇▇'▇ Rate (the "Projected Annual Payouts").

• Seller has good and valid title to all of its tangible and intangible assets and properties reflected as owned on the Current Balance Sheet (as hereinafter defined) and the Projected Balance Sheet (the "Assets"), and, except as noted in Section 3.4 of the Seller Disclosure Schedule, all of the Assets are free and clear of all liens, charges, encumbrances, restrictions, security interests and rights and interests in others (collectively, "Liens").

• Except as and to the extent specifically reflected or reserved against in the Projected Balance Sheet, the Company has no debts, liabilities or obligations of any nature, whether accrued, absolute, contingent, known, unknown or otherwise.

• On September 30, 1998, Shareholders shall deliver to Jone▇ ▇▇▇ Newco an estimated September 30, 1998 balance sheet of the Company, and Shareholders together with Jone▇ ▇▇▇ll discuss in good faith any adjustments which Jone▇ ▇▇▇sonably believes should be made to such projected balance sheet, which as finally agreed to between Jone▇ ▇▇▇ Shareholders, is referred to as the "Projected Balance Sheet".

• All accounts and notes receivable of Virtual reflected on the EXECUTION COPY -------------- Unaudited Balance Sheet and the Projected Balance Sheet are valid receivables of Virtual subject to no setoffs or counterclaims and are current and collectible within 45 days after the invoice date.

• At least 3 Business Days prior to the Closing Date, Seller shall deliver to Buyer a projected balance sheet (“Projected Balance Sheet”) for the Seller as at the Closing and prepared in accordance with Canadian generally accepted accounting principles applied on a basis consistent with past periods together with a calculation of the Closing Net Working Capital using the appropriate data in the Projected Balance Sheet.

• If a Change in Control occurs, followed within twenty-four (24) months by Separation from Service, provided, however, that such Separation from Service occurs prior to Normal Retirement Age, the Employer shall pay the Executive the greater of the Deferral Account or the Projected Balance.

• Buyer shall have the right at any time thereafter and on or prior to the day which is 60 days after the Closing Date to confer with the Seller and its auditor on the data set out in the Projected Balance Sheet and the said calculation of the Closing Net Working Capital.

• The draft Final Balance Sheet shall be prepared in accordance with generally accepted accounting principles, consistently applied, followed in the preparation of the Projected Balance Sheet.

More Definitions of Projected Balance

Projected Balance means, for any Fiscal Quarter (or portion thereof), the principal amount of the KSURE Covered Facility Loan that the Borrower expects to be outstanding in such Fiscal Quarter (or portion thereof) as shown in Exhibit E based on the Borrower’s current expectation as of the date of Closing Date, as such Exhibit E may be amended from time to time pursuant to Section 7.02 (Exhibit E Updates).

Projected Balance means Three Hundred Ninety-Eight Thousand Two Hundred Twenty dollars ($398,220).